Charles Schwab Co. (NYSE:SCHW) Chairman Charles R. Schwab sold 65,056 shares of the business’s stock in a transaction that occurred on Thursday, July 30th. The stock was sold at an average price of $33.19, for a total value of $2,159,208.64. The transaction was disclosed in a legal filing with the SEC, which is available at this link.
NYSE:SCHW opened at $33.15 on Friday. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 0.36. The stock’s fifty day moving average is $34.61 and its two-hundred day moving average is $37.89. Charles Schwab Co. has a 52 week low of $28.00 and a 52 week high of $51.65. The stock has a market capitalization of $43.23 billion, a price-to-earnings ratio of 13.93 and a beta of 1.25.
Charles Schwab (NYSE:SCHW) last released its quarterly earnings results on Thursday, July 16th. The financial services provider reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.53 by $0.01. Charles Schwab had a return on equity of 16.88% and a net margin of 31.48%. The company had revenue of $2.45 billion for the quarter, compared to analysts’ expectations of $2.48 billion. During the same period in the prior year, the firm earned $0.66 earnings per share. The firm’s revenue was down 8.6% compared to the same quarter last year. On average, sell-side analysts expect that Charles Schwab Co. will post 2.14 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 28th. Stockholders of record on Friday, August 7th will be paid a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 2.17%. The ex-dividend date is Thursday, August 6th. Charles Schwab’s payout ratio is currently 26.47%.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Wellington Management Group LLP lifted its position in Charles Schwab by 227.0% in the first quarter. Wellington Management Group LLP now owns 34,307,522 shares of the financial services provider’s stock valued at $1,153,419,000 after purchasing an additional 23,815,930 shares during the period. JPMorgan Chase & Co. lifted its position in Charles Schwab by 22.5% in the first quarter. JPMorgan Chase & Co. now owns 30,345,188 shares of the financial services provider’s stock valued at $1,020,205,000 after purchasing an additional 5,568,071 shares during the period. BlackRock Inc. lifted its position in Charles Schwab by 5.7% in the first quarter. BlackRock Inc. now owns 91,681,742 shares of the financial services provider’s stock valued at $3,082,342,000 after purchasing an additional 4,903,256 shares during the period. Greenhaven Associates Inc. acquired a new stake in Charles Schwab in the second quarter valued at about $123,612,000. Finally, Parnassus Investments CA lifted its position in Charles Schwab by 29.6% in the first quarter. Parnassus Investments CA now owns 15,252,546 shares of the financial services provider’s stock valued at $512,791,000 after purchasing an additional 3,486,934 shares during the period. Institutional investors and hedge funds own 85.13% of the company’s stock.
A number of equities research analysts have recently issued reports on SCHW shares. Keefe, Bruyette & Woods lowered Charles Schwab from an “outperform” rating to a “market perform” rating in a research report on Sunday, April 19th. TheStreet lowered Charles Schwab from a “b-” rating to a “c” rating in a research report on Monday, July 27th. Bank of America dropped their price target on Charles Schwab from $38.00 to $37.00 and set a “neutral” rating for the company in a research report on Friday, July 10th. Wolfe Research upgraded Charles Schwab from an “underperform” rating to a “peer perform” rating and set a $36.00 price target for the company in a research report on Thursday, July 9th. Finally, Wells Fargo & Co upped their price target on Charles Schwab from $34.00 to $35.00 and gave the company an “equal weight” rating in a research report on Friday, July 10th. Eleven equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Charles Schwab has an average rating of “Hold” and a consensus price target of $42.50.
Charles Schwab Company Profile
The Charles Schwab Corporation, through its subsidiaries, provides wealth management, securities brokerage, banking, asset management, custody, and financial advisory services. The company operates through two segments, Investor Services and Advisor Services. The Investor Services segment provides retail brokerage and banking services, retirement plan services, and other corporate brokerage services; equity compensation plan sponsors full-service recordkeeping for stock plans, stock options, restricted stock, performance shares, and stock appreciation rights; and retail investor, retirement plan, and mutual fund clearing services.
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