FY2024 EPS Estimates for Charles Schwab Increased by Analyst

The Charles Schwab Co. (NYSE:SCHWFree Report) – Stock analysts at William Blair increased their FY2024 EPS estimates for Charles Schwab in a note issued to investors on Monday, January 13th. William Blair analyst J. Schmitt now forecasts that the financial services provider will post earnings per share of $3.16 for the year, up from their previous estimate of $3.10. The consensus estimate for Charles Schwab’s current full-year earnings is $3.13 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.

Several other analysts have also issued reports on the stock. Piper Sandler lifted their target price on shares of Charles Schwab from $65.00 to $70.00 and gave the company a “neutral” rating in a research report on Tuesday, January 7th. Truist Financial upgraded shares of Charles Schwab to a “strong-buy” rating in a research report on Monday, January 6th. Bank of America dropped their target price on shares of Charles Schwab from $63.00 to $61.00 and set an “underperform” rating on the stock in a research report on Wednesday, October 16th. The Goldman Sachs Group lifted their target price on shares of Charles Schwab from $67.00 to $74.00 and gave the company a “neutral” rating in a research report on Wednesday, October 16th. Finally, Citigroup decreased their price target on shares of Charles Schwab from $85.00 to $80.00 and set a “neutral” rating on the stock in a research note on Friday, January 10th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $81.63.

Check Out Our Latest Stock Report on Charles Schwab

Charles Schwab Stock Up 2.4 %

Shares of NYSE SCHW opened at $75.40 on Wednesday. The company’s 50-day simple moving average is $77.58 and its 200-day simple moving average is $70.60. Charles Schwab has a 52-week low of $59.67 and a 52-week high of $83.35. The firm has a market cap of $134.19 billion, a price-to-earnings ratio of 29.45, a price-to-earnings-growth ratio of 1.19 and a beta of 0.99. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 0.59.

Charles Schwab (NYSE:SCHWGet Free Report) last announced its earnings results on Tuesday, October 15th. The financial services provider reported $0.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.75 by $0.02. Charles Schwab had a net margin of 27.47% and a return on equity of 16.92%. The business had revenue of $4.85 billion for the quarter, compared to analyst estimates of $4.78 billion. During the same quarter last year, the business earned $0.77 earnings per share. The company’s revenue for the quarter was up 5.2% compared to the same quarter last year.

Institutional Investors Weigh In On Charles Schwab

A number of institutional investors have recently made changes to their positions in SCHW. Dimensional Fund Advisors LP increased its position in shares of Charles Schwab by 6.8% during the second quarter. Dimensional Fund Advisors LP now owns 4,904,267 shares of the financial services provider’s stock valued at $361,402,000 after acquiring an additional 310,128 shares during the last quarter. One Capital Management LLC acquired a new position in shares of Charles Schwab in the second quarter valued at approximately $667,000. WealthPLAN Partners LLC grew its holdings in shares of Charles Schwab by 12.8% in the second quarter. WealthPLAN Partners LLC now owns 8,401 shares of the financial services provider’s stock valued at $619,000 after purchasing an additional 953 shares in the last quarter. Sargent Investment Group LLC acquired a new position in shares of Charles Schwab in the second quarter valued at approximately $260,000. Finally, Plancorp LLC grew its holdings in shares of Charles Schwab by 6.3% in the second quarter. Plancorp LLC now owns 3,108 shares of the financial services provider’s stock valued at $229,000 after purchasing an additional 184 shares in the last quarter. 84.38% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Charles Schwab news, Director Christopher V. Dodds sold 9,284 shares of Charles Schwab stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $81.43, for a total transaction of $755,996.12. Following the completion of the sale, the director now directly owns 442,807 shares in the company, valued at $36,057,774.01. This trade represents a 2.05 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jonathan S. Beatty sold 2,500 shares of Charles Schwab stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $77.02, for a total transaction of $192,550.00. Following the sale, the insider now owns 18,069 shares of the company’s stock, valued at approximately $1,391,674.38. This represents a 12.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 26,823 shares of company stock valued at $2,171,194 over the last ninety 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 paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.33%. The ex-dividend date was Friday, November 8th. Charles Schwab’s dividend payout ratio (DPR) is presently 39.06%.

About Charles Schwab

(Get Free Report)

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.

See Also

Earnings History and Estimates for Charles Schwab (NYSE:SCHW)

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