** Shares of U.S. brokerage firm Charles Schwab SCHW.N up 0.6% before the bell to $81.65 after secondary offering priced
** Westlake, Texas-based SCHW early Tues announced ~165.4 mln shares sold by Canada's TD Bank TD.TO at $79.25
** SCHW shares on Mon fell 2.4% to close at $81.17 after top holder TD said it would offload its remaining 10.1% stake for nearly $15 bln
** Share sale comes amid TD's strategic review, as the bank works through anti-money laundering remediation program following a U.S. regulatory probe
** Upon completion of secondary offering, SCHW to repurchase $1.5 billion worth of its shares from TD
** TD Secs and Goldman Sachs are jt bookrunners
** On a conf call, TD said it will no longer have 2 SCHW board seats
** Through Mon, SCHW shares up ~10% YTD. A year ago, stock was trading around $64.50
** Of 21 analysts covering SCHW, recommendation breakdown is 16 "strong buy" or "buy", 4 "hold" and 1 "sell" and median PT is $71, LSEG data shows
(Lance Tupper is a Reuters market analyst. The views expressed are his own)
((lance.tupper@tr.com 1-646-279-6380))
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