Norges Bank acquired 19,959,856 shares of The Charles Schwab Corporation. The sovereign wealth fund's new position is valued at approximately $1.99 billion. This investment gives the bank a 1.12% ownership stake in the financial services giant.
The move follows Charles Schwab reporting quarterly earnings per share of $1.43. Revenue reached $6.48 billion, representing a 15.8% increase compared to the previous year. These figures surpassed analyst expectations for the period.
Market analysts currently maintain a consensus Moderate Buy rating on the stock.