Charles Schwab (NYSE:SCHW - Get Free Report) issued its quarterly earnings results on Thursday. The financial services provider reported $1.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.01 by $0.03, RTT News reports. The company had revenue of $5.60 billion for the quarter, compared to analyst estimates of $5.46 billion. Charles Schwab had a return on equity of 18.20% and a net margin of 30.31%. During the same quarter last year, the company posted $0.74 EPS.
Charles Schwab Trading Up 1.2 %
Shares of Charles Schwab stock traded up $0.88 on Tuesday, reaching $75.83. 3,207,834 shares of the company's stock were exchanged, compared to its average volume of 9,290,782. The firm's 50-day moving average is $77.02 and its two-hundred day moving average is $76.74. The company has a market capitalization of $137.52 billion, a P/E ratio of 25.34, a price-to-earnings-growth ratio of 0.99 and a beta of 0.91. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.47 and a current ratio of 0.47. Charles Schwab has a 52 week low of $61.01 and a 52 week high of $84.50.
Charles Schwab Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 14th were paid a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.42%. This is an increase from Charles Schwab's previous quarterly dividend of $0.25. The ex-dividend date was Friday, February 14th. Charles Schwab's payout ratio is currently 36.12%.
Analyst Upgrades and Downgrades
A number of research analysts have recently commented on the stock. Wells Fargo & Company dropped their target price on shares of Charles Schwab from $93.00 to $87.00 and set an "overweight" rating for the company in a report on Tuesday, April 8th. Truist Financial lowered their price target on shares of Charles Schwab from $85.00 to $84.00 and set a "buy" rating for the company in a report on Monday. Barclays cut their price objective on Charles Schwab from $96.00 to $84.00 and set an "overweight" rating on the stock in a report on Monday, April 7th. TD Cowen raised Charles Schwab from a "hold" rating to a "buy" rating and upped their target price for the stock from $88.00 to $103.00 in a report on Tuesday, February 18th. Finally, Piper Sandler lifted their price target on Charles Schwab from $74.00 to $80.00 in a research note on Thursday, April 17th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $85.72.
Read Our Latest Analysis on Charles Schwab
Insider Buying and Selling
In other news, General Counsel Peter J. Morgan III sold 14,643 shares of the company's stock in a transaction on Wednesday, January 22nd. The stock was sold at an average price of $80.70, for a total transaction of $1,181,690.10. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Paul V. Woolway sold 9,887 shares of the company's stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $75.38, for a total transaction of $745,282.06. Following the sale, the insider now directly owns 47,931 shares in the company, valued at approximately $3,613,038.78. This trade represents a 17.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 513,081 shares of company stock valued at $41,903,066 over the last ninety days. 6.30% of the stock is owned by corporate insiders.
Institutional Trading of Charles Schwab
A hedge fund recently raised its stake in Charles Schwab stock. Brighton Jones LLC lifted its position in The Charles Schwab Co. (NYSE:SCHW - Free Report) by 380.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 24,240 shares of the financial services provider's stock after buying an additional 19,195 shares during the quarter. Brighton Jones LLC's holdings in Charles Schwab were worth $1,794,000 at the end of the most recent quarter. 84.38% of the stock is currently owned by institutional investors.
About Charles Schwab
(
Get Free Report)
The Charles Schwab Corporation, together with its subsidiaries, operates as a savings and loan holding company that provides wealth management, securities brokerage, banking, asset management, custody, and financial advisory services in the United States and internationally. The company operates in two segments, Investor Services and Advisor Services.
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