The Charles Schwab Corporation (SCHW) Lowered to Strong Sell at BidaskClub

BidaskClub cut shares of The Charles Schwab Corporation (NYSE:SCHW) from a sell rating to a strong sell rating in a research report report published on Friday, September 8th.

A number of other equities analysts have also commented on SCHW. Wells Fargo & Company reaffirmed a market perform rating and issued a $44.00 price objective (up previously from $42.00) on shares of The Charles Schwab Corporation in a research note on Monday, June 12th. Deutsche Bank AG decreased their price objective on shares of The Charles Schwab Corporation from $47.00 to $46.00 and set a buy rating for the company in a research note on Tuesday, July 4th. Morgan Stanley reaffirmed an overweight rating and issued a $48.00 price objective (up previously from $45.00) on shares of The Charles Schwab Corporation in a research note on Monday, July 10th. Citigroup Inc. started coverage on shares of The Charles Schwab Corporation in a research note on Thursday, July 13th. They issued a neutral rating and a $46.00 price objective for the company. Finally, Keefe, Bruyette & Woods reaffirmed a buy rating and issued a $46.00 price objective on shares of The Charles Schwab Corporation in a research note on Friday, June 16th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and twelve have issued a buy rating to the company’s stock. The company presently has a consensus rating of Buy and an average target price of $44.72.

Shares of The Charles Schwab Corporation (SCHW) traded up 0.55% on Friday, reaching $40.21. The company had a trading volume of 14,222,833 shares. The Charles Schwab Corporation has a 52 week low of $29.86 and a 52 week high of $44.10. The company has a 50 day moving average of $40.53 and a 200-day moving average of $40.80. The company has a market capitalization of $53.85 billion, a P/E ratio of 26.99 and a beta of 1.64.

The Charles Schwab Corporation (NYSE:SCHW) last posted its quarterly earnings data on Tuesday, July 18th. The financial services provider reported $0.39 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.39. The business had revenue of $2.13 billion for the quarter, compared to analyst estimates of $2.13 billion. The Charles Schwab Corporation had a net margin of 26.73% and a return on equity of 15.41%. The business’s revenue for the quarter was up 16.5% on a year-over-year basis. During the same quarter last year, the business earned $0.30 earnings per share. Analysts predict that The Charles Schwab Corporation will post $1.61 earnings per share for the current fiscal year.

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The firm also recently declared a quarterly dividend, which was paid on Friday, August 25th. Stockholders of record on Friday, August 11th were issued a dividend of $0.08 per share. The ex-dividend date of this dividend was Wednesday, August 9th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.80%. The Charles Schwab Corporation’s dividend payout ratio is currently 21.48%.

In related news, Chairman Charles R. Schwab sold 350,000 shares of The Charles Schwab Corporation stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $43.10, for a total value of $15,085,000.00. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Terri R. Kallsen sold 1,000 shares of The Charles Schwab Corporation stock in a transaction on Wednesday, September 6th. The stock was sold at an average price of $38.99, for a total transaction of $38,990.00. Following the completion of the transaction, the executive vice president now owns 5,212 shares in the company, valued at approximately $203,215.88. The disclosure for this sale can be found here. Insiders have sold a total of 925,122 shares of company stock worth $39,733,977 in the last 90 days. 12.00% of the stock is owned by insiders.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. grew its position in The Charles Schwab Corporation by 3.2% in the 2nd quarter. Vanguard Group Inc. now owns 81,925,586 shares of the financial services provider’s stock worth $3,519,523,000 after purchasing an additional 2,536,947 shares during the last quarter. BlackRock Inc. grew its position in The Charles Schwab Corporation by 2.5% in the 2nd quarter. BlackRock Inc. now owns 73,666,134 shares of the financial services provider’s stock worth $3,164,699,000 after purchasing an additional 1,790,015 shares during the last quarter. JPMorgan Chase & Co. grew its position in The Charles Schwab Corporation by 1.3% in the 2nd quarter. JPMorgan Chase & Co. now owns 39,576,199 shares of the financial services provider’s stock worth $1,700,193,000 after purchasing an additional 491,451 shares during the last quarter. FMR LLC grew its position in The Charles Schwab Corporation by 11.3% in the 2nd quarter. FMR LLC now owns 30,766,004 shares of the financial services provider’s stock worth $1,321,708,000 after purchasing an additional 3,128,532 shares during the last quarter. Finally, Capital Research Global Investors grew its position in The Charles Schwab Corporation by 86.3% in the 2nd quarter. Capital Research Global Investors now owns 24,237,199 shares of the financial services provider’s stock worth $1,041,230,000 after purchasing an additional 11,224,199 shares during the last quarter. Hedge funds and other institutional investors own 79.60% of the company’s stock.

About The Charles Schwab Corporation

The Charles Schwab Corporation (CSC) is a savings and loan holding company. The Company, through its subsidiaries, engages in wealth management, securities brokerage, banking, money management and financial advisory services. The Company provides financial services to individuals and institutional clients through two segments: Investor Services and Advisor Services.

Analyst Recommendations for The Charles Schwab Corporation (NYSE:SCHW)

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