The Charles Schwab Corporation (SCHW)

Outperform Recap: Q2 2026

NIM Tops 3% and the Rate Bear Turns Bull: A Clean Beat-and-Raise the Market Still Faded

Outperform Recap: Q1 2026

Record Quarter, Sharp Sell-Off: The Street Punishes a 1% NII Miss and a Cash-Sweep Scare — We Stay Outperform on the De-Rating

Outperform Recap: Q4 2025

A Record Year Closes and the 2026 Guide Settles the Debate: NIM Keeps Rising as Rates Fall, the Balance Sheet Grows Again — Maintain Outperform

Outperform Recap: Q3 2025

The Inflection Confirms Itself: NIM Rises Through the Cuts, the Funding Paydown Finishes, and the Buyback Ramps — Upgrading SCHW to Outperform

Hold Recap: Q2 2025

A Record First Half and a Genuine Earnings Inflection, But the Re-Rating Got There First: Initiating SCHW at Hold