NEW YORK (TheStreet) -- Shares of Charles Schwab Corp. (SCHW - Get Report) are down 0.56% to $28.57 on heavy trading volume Friday afternoon following the release of its 2016 first quarter results.

Before today's market open, the San Francisco-based discount brokerage giant posted earnings of 29 cents per diluted share, in line with analysts' expectations.

Revenue jumped 16% to $1.76 billion year-over-year and was slightly above Wall Street's estimates of $1.75 billion.

The firm's profit margin increased to 37.1% during the period vs. 31.7% last year. The return on average common stockholders' equity climbed to 13% from 10%, MarketWatch noted.

"The ongoing effect of the Fed's initial interest rate hike in December has provided a glimpse of Schwab's earnings power as rates normalize, with our diversified revenue streams generating strong first quarter revenue growth and our steady expense discipline continuing," CFO Joe Martinetto said in a statement.

About 9.3 million of Charles Schwab's shares were traded by this afternoon compared to its average volume of 8.6 million shares per day.

Separately, TheStreet Ratings Team has a Buy rating with a score of B- on the stock.

The company's strengths can be seen in multiple areas, such as its revenue growth, expanding profit margins, growth in earnings per share, increase in net income and good cash flow from operations.

The team believes its strengths outweigh the fact that the company has had lackluster performance in the stock itself.

Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.

You can view the full analysis from the report here: SCHW