The Charles Schwab Co. (NYSE:SCHW) Plans Quarterly Dividend of $0.27

The Charles Schwab Co. (NYSE:SCHW) announced a quarterly dividend on Thursday, April 24th, RTT News reports. Shareholders of record on Friday, May 9th will be given a dividend of 0.27 per share by the financial services provider on Friday, May 23rd. This represents a $1.08 dividend on an annualized basis and a yield of 1.30%. The ex-dividend date of this dividend is Friday, May 9th.

Charles Schwab has raised its dividend payment by an average of 11.6% annually over the last three years and has increased its dividend annually for the last 1 consecutive years. Charles Schwab has a payout ratio of 21.3% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Charles Schwab to earn $5.21 per share next year, which means the company should continue to be able to cover its $1.08 annual dividend with an expected future payout ratio of 20.7%.

Charles Schwab Trading Down 0.6 %

NYSE:SCHW opened at $82.87 on Wednesday. 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 stock’s 50 day simple moving average is $77.08 and its 200-day simple moving average is $77.61. Charles Schwab has a 12-month low of $61.01 and a 12-month high of $84.50. The firm has a market cap of $150.28 billion, a P/E ratio of 27.71, a PEG ratio of 0.99 and a beta of 0.90.

Charles Schwab (NYSE:SCHW) last announced its quarterly earnings data on Thursday, April 17th. The financial services provider reported $1.04 EPS for the quarter, topping analysts’ consensus estimates of $1.01 by $0.03. The company had revenue of $5.60 billion during the quarter, compared to the consensus estimate of $5.46 billion. Charles Schwab had a net margin of 30.31% and a return on equity of 18.20%. During the same quarter in the prior year, the firm earned $0.74 EPS. Equities analysts anticipate that Charles Schwab will post 4.22 EPS for the current year.

Insider Buying and Selling

In other Charles Schwab news, Chairman Walter W. Bettinger sold 464,629 shares of the business’s stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $81.91, for a total value of $38,057,761.39. Following the completion of the transaction, the chairman now directly owns 827,377 shares in the company, valued at approximately $67,770,450.07. The trade was a 35.96 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Jonathan M. Craig sold 9,559 shares of the stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $82.00, for a total value of $783,838.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 503,041 shares of company stock worth $41,072,558. 6.30% of the stock is owned by corporate insiders.

Institutional Trading of Charles Schwab

An institutional investor recently raised its position in Charles Schwab stock. Brighton Jones LLC raised its stake in shares of The Charles Schwab Co. (NYSE:SCHW) by 380.5% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 24,240 shares of the financial services provider’s stock after purchasing an additional 19,195 shares during the period. Brighton Jones LLC’s holdings in Charles Schwab were worth $1,794,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 84.38% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. JMP Securities reaffirmed a “market outperform” rating and issued a $94.00 price objective on shares of Charles Schwab in a report on Monday, April 21st. Citigroup upgraded Charles Schwab from a “neutral” rating to a “buy” rating and lifted their price target for the company from $85.00 to $102.00 in a research note on Wednesday, April 2nd. Truist Financial cut their price objective on Charles Schwab from $85.00 to $84.00 and set a “buy” rating for the company in a research report on Monday, April 21st. Morgan Stanley upgraded shares of Charles Schwab from an “equal weight” rating to an “overweight” rating and set a $76.00 target price on the stock in a research report on Tuesday, April 8th. Finally, Barclays cut their price target on shares of Charles Schwab from $96.00 to $84.00 and set an “overweight” rating for the company in a report on Monday, April 7th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $87.22.

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.