Shares of Charles Schwab Co. (NYSE:SCHW) reached a new 52-week high and low on Monday . The stock traded as low as $60.22 and last traded at $59.42, with a volume of 267347 shares changing hands. The stock had previously closed at $59.51.
Several research firms have weighed in on SCHW. ValuEngine raised Charles Schwab from a “hold” rating to a “buy” rating in a report on Friday, April 27th. Credit Suisse Group lowered their target price on Charles Schwab from $62.00 to $61.00 and set an “outperform” rating on the stock in a report on Monday, April 23rd. Jefferies Group reissued a “buy” rating and issued a $65.00 target price on shares of Charles Schwab in a report on Friday, April 20th. Zacks Investment Research lowered Charles Schwab from a “buy” rating to a “hold” rating in a report on Tuesday, March 6th. Finally, Morgan Stanley lowered their target price on Charles Schwab from $65.00 to $63.00 and set an “overweight” rating on the stock in a report on Wednesday, April 25th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and ten have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $55.53.
The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.25. The stock has a market cap of $80.20 billion, a PE ratio of 36.34, a price-to-earnings-growth ratio of 1.46 and a beta of 1.56.
Charles Schwab (NYSE:SCHW) last issued its quarterly earnings data on Monday, April 16th. The financial services provider reported $0.55 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.54 by $0.01. Charles Schwab had a return on equity of 16.84% and a net margin of 28.80%. The business had revenue of $2.40 billion for the quarter, compared to the consensus estimate of $2.38 billion. During the same period in the prior year, the business earned $0.39 earnings per share. The business’s revenue was up 15.2% on a year-over-year basis. analysts forecast that Charles Schwab Co. will post 2.43 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 25th. Stockholders of record on Friday, May 11th will be given a $0.10 dividend. The ex-dividend date of this dividend is Thursday, May 10th. This represents a $0.40 annualized dividend and a dividend yield of 0.67%. Charles Schwab’s dividend payout ratio is currently 24.39%.
In related news, Chairman Charles R. Schwab sold 250,000 shares of the stock in a transaction dated Monday, April 23rd. The stock was sold at an average price of $54.99, for a total transaction of $13,747,500.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Jonathan M. Craig sold 2,629 shares of the stock in a transaction dated Monday, April 16th. The stock was sold at an average price of $52.11, for a total value of $136,997.19. The disclosure for this sale can be found here. Insiders sold 2,283,053 shares of company stock worth $129,331,230 over the last 90 days. Company insiders own 11.50% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Amalgamated Bank lifted its position in Charles Schwab by 8.5% during the first quarter. Amalgamated Bank now owns 168,415 shares of the financial services provider’s stock worth $8,795,000 after buying an additional 13,196 shares during the period. Summit Trail Advisors LLC lifted its position in Charles Schwab by 6,083.2% during the first quarter. Summit Trail Advisors LLC now owns 391,892 shares of the financial services provider’s stock worth $392,000 after buying an additional 385,554 shares during the period. Gyroscope Capital Management Group LLC lifted its position in Charles Schwab by 30.9% during the first quarter. Gyroscope Capital Management Group LLC now owns 6,574 shares of the financial services provider’s stock worth $343,000 after buying an additional 1,553 shares during the period. WINTON GROUP Ltd lifted its position in Charles Schwab by 153.7% during the first quarter. WINTON GROUP Ltd now owns 17,837 shares of the financial services provider’s stock worth $931,000 after buying an additional 10,806 shares during the period. Finally, CIBC World Markets Inc. purchased a new position in Charles Schwab during the first quarter worth about $1,803,000. Hedge funds and other institutional investors own 80.16% of the company’s stock.
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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