Charles Schwab Issues New Series L Preferred Stock

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Charles Schwab (SCHW) has established a new Series L Preferred Stock, detailing its dividend, voting, redemption, and liquidation rights. The company also entered an underwriting agreement to sell 1.5 million depositary shares, each representing a 1/100th interest in a Series L Preferred Stock share, to raise capital and strengthen its balance sheet. Analysts have given SCHW a Buy rating with a $110.00 price target, and TipRanks’ AI Analyst, Spark, rates it as Outperform due to strong financial performance and positive operational metrics.

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