The Charles Schwab Co. (NYSE:SCHW – Get Free Report)’s stock price was up 4.4% during trading on Wednesday . The company traded as high as $65.60 and last traded at $65.22. Approximately 7,209,104 shares traded hands during trading, a decline of 10% from the average daily volume of 7,988,592 shares. The stock had previously closed at $62.49.
Analyst Upgrades and Downgrades
Several equities analysts recently issued reports on the company. Keefe, Bruyette & Woods upgraded Charles Schwab from a “market perform” rating to an “outperform” rating and raised their price target for the company from $76.00 to $84.00 in a report on Monday, July 8th. Morgan Stanley dropped their price objective on Charles Schwab from $73.00 to $71.00 and set an “equal weight” rating for the company in a report on Thursday, July 11th. StockNews.com cut Charles Schwab from a “hold” rating to a “sell” rating in a report on Friday, May 24th. TD Cowen reissued a “hold” rating and set a $71.00 price objective (down from $88.00) on shares of Charles Schwab in a report on Wednesday, July 17th. Finally, Jefferies Financial Group boosted their price objective on Charles Schwab from $85.00 to $88.00 and gave the stock a “buy” rating in a report on Monday, July 8th. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $74.27.
Charles Schwab Trading Up 4.6 %
The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.42 and a current ratio of 0.42. The business has a 50-day simple moving average of $69.67 and a two-hundred day simple moving average of $69.99. The stock has a market cap of $116.24 billion, a price-to-earnings ratio of 26.15, a P/E/G ratio of 1.18 and a beta of 0.99.
Charles Schwab (NYSE:SCHW – Get Free Report) last announced its quarterly earnings results on Tuesday, July 16th. The financial services provider reported $0.73 EPS for the quarter, beating analysts’ consensus estimates of $0.72 by $0.01. The firm had revenue of $4.69 billion during the quarter, compared to analysts’ expectations of $4.68 billion. Charles Schwab had a net margin of 26.30% and a return on equity of 18.14%. The company’s revenue for the quarter was up .7% compared to the same quarter last year. During the same quarter last year, the company posted $0.75 earnings per share. As a group, research analysts forecast that The Charles Schwab Co. will post 3.06 EPS for the current year.
Charles Schwab Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 23rd. Stockholders of record on Friday, August 9th will be given a $0.25 dividend. The ex-dividend date is Friday, August 9th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.53%. Charles Schwab’s payout ratio is 41.84%.
Insider Activity
In other news, insider Bernard J. Clark sold 77,431 shares of the stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $70.94, for a total transaction of $5,492,955.14. Following the transaction, the insider now owns 121,666 shares in the company, valued at $8,630,986.04. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, CEO Walter W. Bettinger acquired 25,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 17th. The shares were bought at an average price of $66.26 per share, with a total value of $1,656,500.00. Following the acquisition, the chief executive officer now directly owns 827,377 shares in the company, valued at approximately $54,822,000.02. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Bernard J. Clark sold 77,431 shares of the firm’s stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $70.94, for a total value of $5,492,955.14. Following the sale, the insider now directly owns 121,666 shares in the company, valued at approximately $8,630,986.04. The disclosure for this sale can be found here. Insiders sold a total of 181,911 shares of company stock valued at $12,541,978 over the last three months. Insiders own 6.60% of the company’s stock.
Institutional Investors Weigh In On Charles Schwab
Hedge funds have recently modified their holdings of the company. Country Trust Bank acquired a new position in Charles Schwab during the 2nd quarter worth about $26,000. Fortitude Family Office LLC lifted its holdings in 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 buying an additional 192 shares during the period. American Capital Advisory LLC acquired a new position in Charles Schwab during the 2nd quarter worth about $27,000. CGC Financial Services LLC acquired a new position in Charles Schwab during the 2nd quarter worth about $29,000. Finally, Mizuho Securities Co. Ltd. acquired a new position in Charles Schwab during the 2nd quarter worth about $29,000. Institutional investors and hedge funds own 84.38% of the company’s stock.
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.