Charles Schwab (NYSE:SCHW) General Counsel Sells 6,952 Shares of Stock

The Charles Schwab Corporation (NYSE:SCHW) General Counsel Peter Morgan III sold 6,952 shares of the company’s stock in a transaction dated Thursday, July 23rd. The stock was sold at an average price of $102.03, for a total value of $709,312.56. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

Charles Schwab Stock Up 1.6%

Shares of NYSE SCHW traded up $1.66 during midday trading on Tuesday, hitting $105.84. 2,347,075 shares of the company’s stock were exchanged, compared to its average volume of 10,849,993. The firm’s fifty day simple moving average is $94.17 and its 200-day simple moving average is $95.34. The company has a market cap of $184.08 billion, a PE ratio of 19.25, a P/E/G ratio of 0.83 and a beta of 0.77. The Charles Schwab Corporation has a twelve month low of $83.96 and a twelve month high of $107.50. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.62 and a quick ratio of 0.62.

Charles Schwab (NYSE:SCHW) last announced its quarterly earnings results on Tuesday, July 21st. The financial services provider reported $1.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.56 by $0.06. Charles Schwab had a return on equity of 24.73% and a net margin of 38.79%.The firm had revenue of $7.07 billion during the quarter, compared to the consensus estimate of $6.90 billion. During the same period in the prior year, the company posted $1.14 earnings per share. The firm’s quarterly revenue was up 20.9% compared to the same quarter last year. Research analysts predict that The Charles Schwab Corporation will post 6.43 EPS for the current fiscal year.

Charles Schwab Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 28th. Investors of record on Friday, August 14th will be given a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend is Friday, August 14th. Charles Schwab’s dividend payout ratio (DPR) is 23.27%.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on SCHW. Truist Financial reduced their price target on shares of Charles Schwab from $122.00 to $120.00 and set a “buy” rating for the company in a research report on Wednesday, April 1st. Zacks Research raised Charles Schwab from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 9th. Piper Sandler set a $118.00 target price on Charles Schwab in a report on Tuesday, July 21st. BMO Capital Markets cut Charles Schwab from an “outperform” rating to a “market perform” rating and set a $105.00 target price for the company. in a research report on Monday, July 20th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Charles Schwab in a research note on Thursday, June 18th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Charles Schwab currently has a consensus rating of “Moderate Buy” and a consensus price target of $119.94.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Trust Asset Management LLC grew its holdings in shares of Charles Schwab by 9.5% during the second quarter. Trust Asset Management LLC now owns 18,377 shares of the financial services provider’s stock worth $1,696,000 after buying an additional 1,596 shares during the last quarter. Whitener Capital Management Inc. raised its stake in Charles Schwab by 17.0% during the 2nd quarter. Whitener Capital Management Inc. now owns 24,877 shares of the financial services provider’s stock valued at $2,295,000 after acquiring an additional 3,608 shares during the last quarter. Tema ETFs LLC lifted its position in Charles Schwab by 10.6% during the 2nd quarter. Tema ETFs LLC now owns 31,695 shares of the financial services provider’s stock worth $2,924,000 after acquiring an additional 3,045 shares during the period. Lederer & Associates Investment Counsel CA acquired a new stake in Charles Schwab during the 2nd quarter worth approximately $1,624,000. Finally, Peoples Bank KS grew its stake in shares of Charles Schwab by 2.7% in the 2nd quarter. Peoples Bank KS now owns 4,331 shares of the financial services provider’s stock valued at $400,000 after purchasing an additional 113 shares during the last quarter. 84.38% of the stock is currently owned by institutional investors and hedge funds.

Charles Schwab Company Profile

Charles Schwab Corporation (NYSE: SCHW) is a diversified financial services firm that provides brokerage, banking, wealth management and advisory services to individual investors, independent investment advisors and institutional clients. Its primary offerings include retail brokerage accounts, online trading platforms, Schwab-branded mutual funds and exchange-traded funds (ETFs), retirement plan services, custodial services for independent Registered Investment Advisors (RIAs), and banking products through Charles Schwab Bank.