Charles Schwab Earnings Preview: Cash Sorting Remains An Issue (Rating Downgrade) [Seeking Alpha]
First Citizens BancShares, Inc. - Class A (FCNCA)
US:NASDAQ Investor Relations:
firstcitizens.com/about/who-we-are/annual-report
Company Research
Source: Seeking Alpha
The company has continued to grow AUM well which demonstrates fundamental long-term strength and its valuation has reverted to the mean in recent months. Cash sorting and higher interest expenses may hinder Schwab's ability to beat the market in the short-to-medium term. Therefore, I'm downgrading the stock to a Hold. Business Overview I initiated coverage of Charles Schwab ( NYSE: SCHW ) in August of 2023 with a Strong Buy rating at the price of $56.46. Schwab has outperformed the S&P since, posting a 25% total return vs. 16% from the index. Historically, Schwab has outperformed the wider index marginally and industry peers significantly: Schwab is the third largest company in its sector by market cap and has the eighth best 10-year total return. The only other companies of comparable size with similar returns are Morgan Stanley ( MS ) and Goldman Sachs ( GS Schwab is a powerhouse financial institution with a differentiated business model, one which pioneered commission fr
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FCNCA
News
- China Central Bank Wants to Halt Bond-Buying Spree, Not Join It [BNN Bloomberg (Canada)]BNN Bloomberg
- The Fed's Game Of "Make Believe" Comes To An End [zero hedge]zero hedge
- Inside the ‘cold war' at Techstars as CEO Mäelle Gavet hires, fires, fights to force change [TechCrunch]TechCrunch
- Why Many Regional Banks Could Be in Major Trouble [Yahoo! Finance]Yahoo! Finance
- Republic First becomes first casualty of U.S. bank crisis in 2024 [Reuters]Reuters
FCNCA
Earnings
- 4/25/24 - Beat
FCNCA
Sec Filings
- 4/26/24 - Form 144
- 4/25/24 - Form 8-K
- 4/8/24 - Form PX14A6G
- FCNCA's page on the SEC website