Charles Schwab (NYSE:SCHW) Shares Cross Above Two Hundred Day Moving Average – Here’s Why

The Charles Schwab Co. (NYSE:SCHW) shares crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $70.58 and traded as high as $74.32. Charles Schwab shares last traded at $73.93, with a volume of 5,321,664 shares traded.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. JMP Securities reiterated a “market outperform” rating and issued a $94.00 target price (up from $84.00) on shares of Charles Schwab in a research note on Monday, December 9th. Bank of America reduced their target price on shares of Charles Schwab from $63.00 to $61.00 and set an “underperform” rating for the company in a research note on Wednesday, October 16th. Raymond James cut their price target on Charles Schwab from $76.00 to $73.00 in a report on Tuesday, October 15th. Citigroup decreased their price objective on Charles Schwab from $75.00 to $72.00 and set a “neutral” rating for the company in a report on Friday, September 27th. Finally, Barclays raised Charles Schwab from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $74.00 to $95.00 in a research note on Monday, December 9th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $80.50.

Charles Schwab Price Performance

The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 0.59. The firm has a market capitalization of $131.57 billion, a P/E ratio of 28.88, a P/E/G ratio of 1.76 and a beta of 0.96. The business’s fifty day moving average is $77.21 and its 200 day moving average is $70.58.

Charles Schwab (NYSE:SCHW) last released its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $0.77 earnings per share for the quarter, topping the consensus estimate of $0.75 by $0.02. The business had revenue of $4.85 billion during the quarter, compared to analyst estimates of $4.78 billion. Charles Schwab had a return on equity of 16.92% and a net margin of 27.47%. The company’s revenue was up 5.2% compared to the same quarter last year. During the same period last year, the company posted $0.77 EPS. As a group, analysts forecast that The Charles Schwab Co. will post 3.12 EPS for the current year.

Charles Schwab Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Friday, November 8th were issued a dividend of $0.25 per share. The ex-dividend date was Friday, November 8th. This represents a $1.00 annualized dividend and a yield of 1.35%. Charles Schwab’s payout ratio is presently 39.06%.

Insiders Place Their Bets

In other news, Chairman Charles R. Schwab sold 62,345 shares of the stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $72.52, for a total value of $4,521,259.40. Following the completion of the sale, the chairman now directly owns 60,619,371 shares of the company’s stock, valued at $4,396,116,784.92. This represents a 0.10 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Carolyn Schwab-Pomerantz sold 29,800 shares of the business’s stock in a transaction that occurred on Thursday, October 17th. The shares were sold at an average price of $72.16, for a total transaction of $2,150,368.00. Following the transaction, the director now directly owns 551,329 shares in the company, valued at $39,783,900.64. The trade was a 5.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 118,968 shares of company stock worth $8,842,821 over the last ninety days. 6.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Charles Schwab

A number of institutional investors have recently modified their holdings of SCHW. Hantz Financial Services Inc. acquired a new position in shares of Charles Schwab during the 2nd quarter worth $65,000. Essex Financial Services Inc. raised its stake in shares of Charles Schwab by 31.0% in the second quarter. Essex Financial Services Inc. now owns 12,731 shares of the financial services provider’s stock worth $938,000 after acquiring an additional 3,015 shares during the last quarter. Summit Financial LLC lifted its position in Charles Schwab by 19.5% during the 2nd quarter. Summit Financial LLC now owns 27,457 shares of the financial services provider’s stock valued at $2,023,000 after purchasing an additional 4,473 shares during the period. Ritholtz Wealth Management grew its stake in shares of Charles Schwab by 10.4% during the second quarter. Ritholtz Wealth Management now owns 16,921 shares of the financial services provider’s stock worth $1,247,000 after purchasing an additional 1,592 shares during the period. Finally, Equitable Trust Co. increased its stake in Charles Schwab by 123.5% in the second quarter. Equitable Trust Co. now owns 12,558 shares of the financial services provider’s stock valued at $925,000 after purchasing an additional 6,939 shares in the last quarter. 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.