Charles Schwab (NYSE:SCHW – Free Report) had its target price decreased by Raymond James from $76.00 to $73.00 in a report published on Tuesday.
Several other analysts also recently issued reports on SCHW. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Charles Schwab from $79.00 to $80.00 and gave the company a “buy” rating in a research report on Thursday, August 15th. TD Cowen reaffirmed a “hold” rating and set a $71.00 price target (down previously from $88.00) on shares of Charles Schwab in a research note on Wednesday, July 17th. Piper Sandler cut shares of Charles Schwab from an “overweight” rating to a “neutral” rating and decreased their price objective for the company from $80.00 to $64.00 in a research report on Monday, July 29th. Citigroup lowered their target price on Charles Schwab from $75.00 to $72.00 and set a “neutral” rating for the company in a research note on Friday, September 27th. Finally, Jefferies Financial Group cut their price target on Charles Schwab from $79.00 to $73.00 and set a “buy” rating on the stock in a research note on Friday, October 4th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, Charles Schwab has a consensus rating of “Hold” and a consensus target price of $73.59.
Check Out Our Latest Analysis on Charles Schwab
Charles Schwab Price Performance
Charles Schwab (NYSE:SCHW – Get Free Report) last released its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.75 by $0.02. Charles Schwab had a net margin of 26.30% and a return on equity of 18.14%. The company had revenue of $4.85 billion during the quarter, compared to the consensus estimate of $4.78 billion. During the same period in the previous year, the firm earned $0.77 earnings per share. Charles Schwab’s revenue for the quarter was up 5.2% on a year-over-year basis. As a group, sell-side analysts expect that Charles Schwab will post 3.06 EPS for the current year.
Charles Schwab Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Friday, August 9th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.40%. The ex-dividend date was Friday, August 9th. Charles Schwab’s dividend payout ratio (DPR) is presently 41.49%.
Insider Buying and Selling
In related news, Director Carolyn Schwab-Pomerantz sold 12,320 shares of the company’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $65.10, for a total transaction of $802,032.00. Following the completion of the transaction, the director now directly owns 562,129 shares in the company, valued at $36,594,597.90. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Carolyn Schwab-Pomerantz sold 12,320 shares of Charles Schwab stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $65.10, for a total transaction of $802,032.00. Following the sale, the director now owns 562,129 shares of the company’s stock, valued at approximately $36,594,597.90. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Chairman Charles R. Schwab sold 67,386 shares of the stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $65.11, for a total value of $4,387,502.46. Following the completion of the transaction, the chairman now directly owns 60,619,371 shares of the company’s stock, valued at $3,946,927,245.81. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 182,001 shares of company stock valued at $12,512,592. Insiders own 6.60% of the company’s stock.
Hedge Funds Weigh In On Charles Schwab
A number of institutional investors and hedge funds have recently bought and sold shares of SCHW. Nelson Capital Management LLC boosted its holdings in shares of Charles Schwab by 0.4% in the first quarter. Nelson Capital Management LLC now owns 37,726 shares of the financial services provider’s stock valued at $2,729,000 after acquiring an additional 141 shares in the last quarter. Abbrea Capital LLC lifted its position in Charles Schwab by 2.5% in the first quarter. Abbrea Capital LLC now owns 5,777 shares of the financial services provider’s stock worth $418,000 after purchasing an additional 142 shares during the period. Alliance Wealth Advisors LLC boosted its stake in Charles Schwab by 2.7% during the 3rd quarter. Alliance Wealth Advisors LLC now owns 5,358 shares of the financial services provider’s stock valued at $347,000 after purchasing an additional 142 shares in the last quarter. Ironwood Financial llc raised its stake in shares of Charles Schwab by 1.6% in the 1st quarter. Ironwood Financial llc now owns 10,186 shares of the financial services provider’s stock worth $737,000 after buying an additional 160 shares in the last quarter. Finally, Ascent Wealth Partners LLC lifted its holdings in shares of Charles Schwab by 0.7% in the second quarter. Ascent Wealth Partners LLC now owns 23,361 shares of the financial services provider’s stock valued at $1,721,000 after buying an additional 164 shares during the period. Institutional investors own 84.38% of the company’s stock.
About Charles Schwab
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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