Founded in 1971, Charles Schwab (NYSE: SCHW) has a long history in the financial services sector. And now it has become a well-known institution in the industry, catering to tens of millions of customers.

But this financial stock hasn't been too kind to its shareholders. As of this writing, the stock is 34% below its peak price. And while the S&P 500 has so far posted a double-digit gain in 2023, Charles Schwab is down 25% this year.

Such a beaten-down company might be drawing the attention of investors who are hoping for a recovery. Before you buy shares, though, here are three things you need to know about Charles Schwab.

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Source Fool.com