Charles Schwab (SCHW) posted "solid" Q3 results, with beats in nearly all areas, Deutsche Bank said in a note Friday.

"We view the 3Q results as being very good overall," the note said, pointing to good results in asset management & admin fees and in trading revenue, among others.

This enabled an adjusted operating margin of 51.3%, compared with consensus of 51.0%, the note added.

"Strong momentum into 4Q implies upside to 4Q consensus," the report said.

Deutsche Bank has a buy rating on Charles Schwab, with a $120 price target.

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