FY2024 EPS Forecast for Charles Schwab Increased by Analyst

The Charles Schwab Co. (NYSE:SCHW - Free Report) - Research analysts at William Blair lifted their FY2024 earnings estimates for shares of Charles Schwab in a research report issued on Tuesday, October 15th. William Blair analyst J. Schmitt now anticipates that the financial services provider will post earnings of $3.10 per share for the year, up from their previous estimate of $3.06. The consensus estimate for Charles Schwab's current full-year earnings is $3.06 per share. William Blair also issued estimates for Charles Schwab's Q1 2025 earnings at $0.89 EPS, Q2 2025 earnings at $0.91 EPS, Q3 2025 earnings at $0.93 EPS and Q4 2025 earnings at $0.96 EPS.

Charles Schwab (NYSE:SCHW - Get Free Report) last released its earnings results on Tuesday, October 15th. The financial services provider reported $0.77 EPS for the quarter, topping analysts' consensus estimates of $0.75 by $0.02. Charles Schwab had a return on equity of 18.14% and a net margin of 26.30%. The company had revenue of $4.85 billion for the quarter, compared to the consensus estimate of $4.78 billion. During the same quarter last year, the business posted $0.77 EPS. Charles Schwab's quarterly revenue was up 5.2% compared to the same quarter last year.

Other research analysts also recently issued reports about the stock. Jefferies Financial Group reduced their price target on shares of Charles Schwab from $79.00 to $73.00 and set a "buy" rating on the stock in a research report on Friday, October 4th. Cowen raised their target price on shares of Charles Schwab from $69.00 to $75.00 and gave the stock a "hold" rating in a report on Tuesday. StockNews.com raised Charles Schwab from a "sell" rating to a "hold" rating in a report on Wednesday. Barclays raised their price target on Charles Schwab from $64.00 to $74.00 and gave the stock an "equal weight" rating in a report on Wednesday. Finally, Keefe, Bruyette & Woods upped their price objective on Charles Schwab from $76.00 to $81.00 and gave the stock an "outperform" rating in a research note on Wednesday. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $73.59.

Charles Schwab Stock Performance

SCHW traded down $0.57 during trading hours on Friday, hitting $71.34. 8,948,076 shares of the stock were exchanged, compared to its average volume of 8,117,904. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.42 and a quick ratio of 0.42. Charles Schwab has a 12 month low of $48.66 and a 12 month high of $79.49. The stock has a 50-day simple moving average of $64.97 and a 200-day simple moving average of $69.52. The stock has a market cap of $126.87 billion, a price-to-earnings ratio of 29.60, a price-to-earnings-growth ratio of 1.47 and a beta of 0.97.

Institutional Investors Weigh In On Charles Schwab

Institutional investors have recently bought and sold shares of the business. Country Trust Bank acquired a new position in shares of Charles Schwab in the second quarter worth $26,000. American Capital Advisory LLC acquired a new position in Charles Schwab in the 2nd quarter worth about $27,000. Fortitude Family Office LLC raised its stake in shares of Charles Schwab by 97.5% during the 2nd quarter. Fortitude Family Office LLC now owns 389 shares of the financial services provider's stock worth $29,000 after purchasing an additional 192 shares in the last quarter. CGC Financial Services LLC acquired a new stake in shares of Charles Schwab during the 2nd quarter valued at about $29,000. Finally, Mizuho Securities Co. Ltd. bought a new stake in shares of Charles Schwab in the 2nd quarter valued at approximately $29,000. 84.38% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Charles Schwab

In related news, Chairman Charles R. Schwab sold 67,386 shares of Charles Schwab stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $65.11, for a total value of $4,387,502.46. Following the transaction, the chairman now owns 60,619,371 shares of the company's stock, valued at approximately $3,946,927,245.81. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, Chairman Charles R. Schwab sold 67,386 shares of the company's stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $65.11, for a total value of $4,387,502.46. Following the completion of the sale, the chairman now owns 60,619,371 shares in the company, valued at approximately $3,946,927,245.81. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Paul V. Woolway sold 1,150 shares of Charles Schwab stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $65.20, for a total transaction of $74,980.00. Following the transaction, the insider now owns 61,887 shares in the company, valued at approximately $4,035,032.40. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 182,001 shares of company stock valued at $12,512,592 in the last three months. 6.60% of the stock is currently owned by corporate insiders.

Charles Schwab Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Friday, August 9th were given a dividend of $0.25 per share. The ex-dividend date was Friday, August 9th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.40%. Charles Schwab's dividend payout ratio (DPR) is presently 41.49%.

Charles Schwab Company Profile

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.