The Charles Schwab Co. (NYSE:SCHW - Free Report) - Equities research analysts at William Blair increased their FY2024 earnings per share (EPS) estimates for shares of Charles Schwab in a research report issued on Monday, January 13th. William Blair analyst J. Schmitt now forecasts that the financial services provider will post earnings of $3.16 per share for the year, up from their previous forecast of $3.10. The consensus estimate for Charles Schwab's current full-year earnings is $3.12 per share. William Blair also issued estimates for Charles Schwab's Q4 2024 earnings at $0.91 EPS, FY2025 earnings at $3.90 EPS and FY2026 earnings at $4.90 EPS.
Charles Schwab (NYSE:SCHW - Get Free Report) last released its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $0.77 EPS for the quarter, topping the consensus estimate of $0.75 by $0.02. The business had revenue of $4.85 billion for the quarter, compared to analyst estimates of $4.78 billion. Charles Schwab had a return on equity of 16.92% and a net margin of 27.47%. The business's quarterly revenue was up 5.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.77 EPS.
A number of other equities research analysts have also recently commented on the company. Raymond James dropped their target price on Charles Schwab from $76.00 to $73.00 in a research report on Tuesday, October 15th. Piper Sandler raised their price target on shares of Charles Schwab from $65.00 to $70.00 and gave the company a "neutral" rating in a research note on Tuesday, January 7th. Bank of America cut their price objective on Charles Schwab from $63.00 to $61.00 and set an "underperform" rating for the company in a research note on Wednesday, October 16th. Jefferies Financial Group raised their target price on Charles Schwab from $84.00 to $94.00 and gave the company a "buy" rating in a research report on Monday, December 9th. Finally, Wells Fargo & Company dropped their price target on Charles Schwab from $90.00 to $89.00 and set an "equal weight" rating for the company in a research report on Tuesday. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $81.63.
View Our Latest Research Report on Charles Schwab
Charles Schwab Stock Performance
Shares of SCHW traded up $1.41 during trading hours on Wednesday, hitting $73.75. The stock had a trading volume of 8,453,095 shares, compared to its average volume of 8,064,620. The firm has a market capitalization of $131.25 billion, a price-to-earnings ratio of 28.81, a PEG ratio of 1.76 and a beta of 0.99. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.47 and a current ratio of 0.47. The firm has a 50-day moving average price of $77.62 and a 200 day moving average price of $70.58. Charles Schwab has a fifty-two week low of $59.67 and a fifty-two week high of $83.35.
Hedge Funds Weigh In On Charles Schwab
Hedge funds have recently made changes to their positions in the stock. Benjamin Edwards Inc. lifted its stake in Charles Schwab by 2,840.7% during the third quarter. Benjamin Edwards Inc. now owns 6,146 shares of the financial services provider's stock worth $398,000 after purchasing an additional 5,937 shares in the last quarter. Synovus Financial Corp lifted its stake in Charles Schwab by 46.0% during the 3rd quarter. Synovus Financial Corp now owns 67,889 shares of the financial services provider's stock worth $4,400,000 after acquiring an additional 21,377 shares in the last quarter. Patten & Patten Inc. TN boosted its holdings in Charles Schwab by 155.9% during the 3rd quarter. Patten & Patten Inc. TN now owns 104,168 shares of the financial services provider's stock valued at $6,751,000 after acquiring an additional 63,463 shares during the period. Equity Investment Corp grew its position in Charles Schwab by 9.4% in the 3rd quarter. Equity Investment Corp now owns 1,640,157 shares of the financial services provider's stock valued at $106,299,000 after acquiring an additional 140,643 shares in the last quarter. Finally, Teewinot Capital Advisers L.L.C. grew its position in Charles Schwab by 9.0% in the 2nd quarter. Teewinot Capital Advisers L.L.C. now owns 775,161 shares of the financial services provider's stock valued at $57,122,000 after acquiring an additional 64,041 shares in the last quarter. Hedge funds and other institutional investors own 84.38% of the company's stock.
Insider Activity
In other news, insider Nigel J. Murtagh sold 12,739 shares of the company's stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $81.17, for a total value of $1,034,024.63. Following the transaction, the insider now owns 59,092 shares of the company's stock, valued at $4,796,497.64. This represents a 17.73 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Jonathan S. Beatty sold 2,300 shares of the firm's stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $82.01, for a total value of $188,623.00. Following the sale, the insider now directly owns 18,069 shares of the company's stock, valued at $1,481,838.69. The trade was a 11.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 56,623 shares of company stock valued at $4,321,562 in the last 90 days. Company insiders own 6.60% of the company's stock.
Charles Schwab Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Friday, November 8th were issued a $0.25 dividend. The ex-dividend date was Friday, November 8th. This represents a $1.00 annualized dividend and a yield of 1.36%. Charles Schwab's payout ratio is 39.06%.
About Charles Schwab
(
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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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