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 Neither the author, Tim Fries, nor this website, The Tokenist, provide financial advice. Please consult our&nbsp;<a href="https://tokenist.com/terms-of-service/" style="text-decoration:underline;color:#3c7b7b" target="_blank" rel="noopener noreferrer nofollow" class="deco-link">website policy</a>&nbsp;prior to making financial decisions.
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<p class="has-drop-cap">Charles Schwab (<a href="https://tokenist.com/investing/how-to-invest-in-stocks/" rel="noopener noreferrer nofollow" class="deco-link">NYSE: SCHW</a>) has reported its <a aria-label="monthly activity highlights (opens in a new tab)" href="https://mms.businesswire.com/media/20241114282831/en/2304623/1/schw_oct2024_press_release.pdf?download=1&amp;_gl=1*744bcp*_gcl_au*MTE3Nzk1OTI5Ny4xNzMwMTEyNjY1*_ga*MTczMTk4OTU0OS4xNzMwMTEyNjY2*_ga_ZQWF70T3FK*MTczMTU5ODcyMy4yLjAuMTczMTU5ODczMC41My4wLjA." target="_blank" rel="noopener noreferrer nofollow" class="deco-link">monthly activity highlights</a>, showcasing a robust performance in terms of new client assets and overall asset growth.</p>
<p>As of the end of October 2024, the financial services giant has seen a significant influx of core net new assets, totaling $24.6 billion, with net new assets excluding mutual fund clearing reaching $21.0 billion. This growth has contributed to the company’s total client assets reaching an impressive $9.85 trillion.</p>
<p>The increase in total client assets marks a notable 29% rise compared to October 2023, signaling strong client trust and engagement with Charles Schwab’s comprehensive financial services offerings.</p>
<h3 id="charles-schwab-reports-substantial-increase-in-transactional-sweep-cash">Charles Schwab Reports Substantial Increase in Transactional Sweep Cash</h3>
<p>The company’s asset growth is complemented by a substantial increase in transactional sweep cash, which rose by $10.0 billion from the previous month. This uptick could suggest that clients are holding more cash, possibly reflecting a cautious approach to the market or preparing for future investment opportunities.</p>
<p>Charles Schwab’s ability to attract and retain a large number of clients is evident in its extensive client base, which includes 36.1 million active brokerage accounts, 5.4 million workplace plan participant accounts, and 2.0 million banking accounts.</p>
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<h3 id="charles-schwab-stock-hits-52-week-high">Charles Schwab Stock Hits 52-Week High</h3>
<p>In terms of stock performance, Charles Schwab (SCHW) has experienced a notable upward movement. The stock opened at $82.09 on November 14, 2024, and reached a new 52-week high at $82.5, before settling at a current price of $81.08. <br><br>This rise from a previous close of $78.25 underscores a significant increase in stock value since the beginning of November. The stock’s performance is further highlighted by its market cap of $148.42 billion and a <a href="https://tokenist.com/investing/p-e-ratio/" rel="noopener noreferrer nofollow" class="deco-link">trailing P/E ratio</a> of 31.67, indicating strong investor confidence and potential for future growth.</p>
<h3 id="schw-stock-brief">SCHW Stock Brief</h3>
<p>Investors should note that Charles Schwab’s stock is currently recommended as a buy, with a recommendation mean of 2.27. The target price range for the stock is between $61.0 and $88.0, with a mean target price of $76.6 and a median target price of $77.0. This suggests a positive outlook for the stock, supported by recent upward price movements and strong financial metrics, including a forward P/E ratio of 21.28 and a forward EPS of $3.8.</p>
<p>Overall, Charles Schwab continues to demonstrate its position as a leading financial services provider, with substantial growth in client assets and a positive trajectory in stock performance. <br><br>The company’s diverse range of offerings, including wealth management, securities brokerage, and banking services, combined with its strong asset growth and favorable stock outlook, make it a compelling choice for investors seeking stability and growth in the financial sector.</p> <iframe src="https://tokenist.substack.com/embed" width="100%" height="320" style="border:1px solid #EEE; background:white;" frameborder="0" scrolling="no"></iframe>
<p><em>Disclaimer: The author does not hold or have a position in any securities discussed in the article.</em></p>
<h3 id="br"><br></h3>
<p>The post <a rel="noopener noreferrer nofollow" href="https://tokenist.com/charles-schwab-schw-hits-52-week-high-amid-substantial-growth-in-sweep-cash/">Charles Schwab (SCHW) Hits 52-Week High Amid Substantial Growth in Sweep Cash</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://tokenist.com">Tokenist</a>.</p>

Charles Schwab (SCHW) Hits 52-Week High Amid Substantial Growth in Sweep Cash

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