Earlier Charles Schwab (SCHW) downside attributed to comments from CFO giving FY23 outlook; expects cash sorting activity to slow down "at some point during 2023."
- CFO added cash sorting activity will be "Offset by organic cash that comes in via new accounts and we will see a return of deposit growth".
- Sees Q423 NIM in low 260bps (exp. 2.46%), and sees adj. OpEx growth of +7-8% (exp. +6%), according to JPMorgan cited by traders.
27 Jan 2023 - 18:53- Equities- Source: Newswires/SeekingAlpha
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