Charles Schwab (NYSE:SCHW) Hits New 52-Week High – Here’s What Happened

Shares of The Charles Schwab Co. (NYSE:SCHW) reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $82.66 and last traded at $82.63, with a volume of 394623 shares. The stock had previously closed at $82.25.

Wall Street Analyst Weigh In

Several analysts have weighed in on SCHW shares. Keefe, Bruyette & Woods lifted their price objective on Charles Schwab from $76.00 to $81.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. Jefferies Financial Group reduced 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. Raymond James lowered their price objective on Charles Schwab from $76.00 to $73.00 in a research report on Tuesday, October 15th. JPMorgan Chase & Co. upped their target price on shares of Charles Schwab from $86.00 to $87.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on shares of Charles Schwab from $77.00 to $80.00 and gave the company a “buy” rating in a research report on Monday, November 11th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, Charles Schwab currently has a consensus rating of “Hold” and a consensus target price of $74.18.

Charles Schwab Stock Performance

The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.47 and a current ratio of 0.47. The business’s fifty day moving average price is $71.28 and its 200-day moving average price is $69.85. The stock has a market cap of $146.04 billion, a PE ratio of 32.12, a P/E/G ratio of 1.77 and a beta of 0.96.

Charles Schwab (NYSE:SCHW) last announced its earnings results on Tuesday, October 15th. The financial services provider reported $0.77 earnings per share for the quarter, beating analysts’ consensus estimates 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 net margin of 27.47% and a return on equity of 16.92%. The company’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.77 EPS. As a group, equities research analysts forecast that The Charles Schwab Co. will post 3.12 EPS for the current fiscal year.

Charles Schwab Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Friday, November 8th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.22%. The ex-dividend date was Friday, November 8th. Charles Schwab’s payout ratio is currently 39.06%.

Insider Activity

In other news, insider Jonathan S. Beatty sold 2,500 shares of the business’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $77.02, for a total value of $192,550.00. Following the transaction, the insider now directly owns 18,069 shares in the company, valued at $1,391,674.38. The trade was a 12.15 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Nigel J. Murtagh sold 12,739 shares of Charles Schwab stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $81.17, for a total transaction of $1,034,024.63. Following the sale, the insider now owns 59,092 shares in the company, valued at approximately $4,796,497.64. The trade was a 17.73 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 125,668 shares of company stock valued at $9,230,648 in the last 90 days. Company insiders own 6.60% of the company’s stock.

Institutional Investors Weigh In On Charles Schwab

Large investors have recently made changes to their positions in the company. Franklin Resources Inc. lifted its position in Charles Schwab by 15.0% during the third quarter. Franklin Resources Inc. now owns 24,261,234 shares of the financial services provider’s stock valued at $1,644,674,000 after purchasing an additional 3,157,923 shares during the last quarter. Synovus Financial Corp raised its position in Charles Schwab by 46.0% during the third quarter. Synovus Financial Corp now owns 67,889 shares of the financial services provider’s stock valued at $4,400,000 after purchasing an additional 21,377 shares during the period. Tidal Investments LLC raised its holdings in Charles Schwab by 8.4% during the 3rd quarter. Tidal Investments LLC now owns 119,185 shares of the financial services provider’s stock valued at $7,724,000 after buying an additional 9,245 shares during the period. Wilmington Savings Fund Society FSB increased its position in Charles Schwab by 69.0% during the third quarter. Wilmington Savings Fund Society FSB now owns 74,073 shares of the financial services provider’s stock valued at $4,801,000 after acquiring an additional 30,237 shares during the last quarter. Finally, Sfmg LLC boosted its stake in shares of Charles Schwab by 2.5% during the 3rd quarter. Sfmg LLC now owns 58,542 shares of the financial services provider’s stock worth $3,794,000 after purchasing an additional 1,444 shares during the period. 84.38% of the stock is owned by institutional investors.

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.