BidaskClub downgraded shares of The Charles Schwab Corporation (NYSE:SCHW) from a strong-buy rating to a buy rating in a research report sent to investors on Tuesday, October 17th.
Several other research analysts have also issued reports on SCHW. Morgan Stanley reaffirmed an overweight rating and set a $51.00 target price (up from $48.00) on shares of The Charles Schwab Corporation in a research report on Tuesday, July 25th. Barclays PLC initiated coverage on The Charles Schwab Corporation in a research note on Friday, September 8th. They issued an overweight rating and a $48.00 target price for the company. Nomura downgraded The Charles Schwab Corporation from a buy rating to a neutral rating in a research note on Monday, July 24th. Keefe, Bruyette & Woods reissued a buy rating and set a $47.00 target price on shares of The Charles Schwab Corporation in a report on Friday, September 15th. Finally, Deutsche Bank AG lowered their target price on shares of The Charles Schwab Corporation from $47.00 to $46.00 and set a buy rating on the stock in a report on Tuesday, July 4th. Six investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. The company has a consensus rating of Buy and an average price target of $47.07.
The Charles Schwab Corporation (SCHW) traded down $0.29 on Tuesday, reaching $44.54. The company had a trading volume of 1,414,638 shares, compared to its average volume of 5,967,151. The company has a quick ratio of 0.31, a current ratio of 0.32 and a debt-to-equity ratio of 0.24. The company has a market capitalization of $60,019.31, a price-to-earnings ratio of 28.73, a PEG ratio of 1.90 and a beta of 1.74. The Charles Schwab Corporation has a fifty-two week low of $30.66 and a fifty-two week high of $46.21.
The Charles Schwab Corporation (NYSE:SCHW) last issued its quarterly earnings results on Wednesday, October 18th. The financial services provider reported $0.42 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.41 by $0.01. The business had revenue of $2.17 billion for the quarter, compared to the consensus estimate of $2.18 billion. The Charles Schwab Corporation had a return on equity of 16.07% and a net margin of 27.30%. The firm’s quarterly revenue was up 13.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.35 earnings per share. equities research analysts anticipate that The Charles Schwab Corporation will post 1.62 earnings per share for the current year.
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The firm also recently declared a quarterly dividend, which will be paid on Friday, November 24th. Shareholders of record on Friday, November 10th will be given a $0.08 dividend. The ex-dividend date of this dividend is Thursday, November 9th. This represents a $0.32 annualized dividend and a yield of 0.72%. The Charles Schwab Corporation’s payout ratio is presently 20.51%.
In other news, Chairman Charles R. Schwab sold 225,000 shares of the firm’s stock in a transaction on Tuesday, October 24th. The shares were sold at an average price of $44.89, for a total transaction of $10,100,250.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Terri R. Kallsen sold 1,981 shares of the firm’s stock in a transaction on Thursday, November 2nd. The shares were sold at an average price of $44.18, for a total transaction of $87,520.58. Following the sale, the executive vice president now owns 5,212 shares in the company, valued at $230,266.16. The disclosure for this sale can be found here. Insiders sold 376,867 shares of company stock worth $16,844,702 over the last quarter. Insiders own 12.00% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in SCHW. WealthTrust Arizona LLC increased its holdings in The Charles Schwab Corporation by 1.2% in the 2nd quarter. WealthTrust Arizona LLC now owns 2,466 shares of the financial services provider’s stock valued at $106,000 after acquiring an additional 29 shares during the last quarter. Shine Investment Advisory Services Inc. bought a new stake in The Charles Schwab Corporation in the 2nd quarter valued at $145,000. Fiduciary Trust Co. bought a new stake in The Charles Schwab Corporation in the 2nd quarter valued at $163,000. Quadrant Capital Group LLC increased its holdings in The Charles Schwab Corporation by 31.4% in the 2nd quarter. Quadrant Capital Group LLC now owns 4,531 shares of the financial services provider’s stock valued at $168,000 after acquiring an additional 1,082 shares during the last quarter. Finally, Founders Capital Management grew its stake in shares of The Charles Schwab Corporation by 7.7% in the 2nd quarter. Founders Capital Management now owns 4,200 shares of the financial services provider’s stock worth $180,000 after buying an additional 300 shares in the last quarter. Institutional investors own 79.56% of the company’s stock.
About The Charles Schwab Corporation
The Charles Schwab Corporation (CSC) is a savings and loan holding company. The Company, through its subsidiaries, engages in wealth management, securities brokerage, banking, money management and financial advisory services. The Company provides financial services to individuals and institutional clients through two segments: Investor Services and Advisor Services.
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