Charles Schwab price target lowered to $51 from $53 at BofA

BofA analyst Craig Siegenthaler lowered the firm’s price target on Charles Schwab to $51 from $53 and keeps an Underperform rating on the shares after its Q1 results. The company reported better-than-expected profits and organic growth while elevated client cash sorting continued, though the management also disclosed that it suspended its share buybacks mid-quarter and has no plans to buy back stock given potential for regulatory change to include AOCI in its Tier 1 Leverage ratio, the analyst tells investors in a research note.