The Charles Schwab Corporation (NYSE:SCHW – Get Free Report)’s share price hit a new 52-week high during mid-day trading on Monday . The company traded as high as $111.40 and last traded at $111.2010, with a volume of 223375 shares. The stock had previously closed at $111.09.
Wall Street Analyst Weigh In
Several equities research analysts have recently commented on the company. Wolfe Research reissued an “outperform” rating and issued a $127.00 price objective on shares of Charles Schwab in a report on Tuesday, July 21st. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Charles Schwab in a research report on Wednesday, July 22nd. Weiss Ratings reiterated a “buy (b-)” rating on shares of Charles Schwab in a research note on Thursday, June 18th. Barclays lifted their price objective on shares of Charles Schwab from $122.00 to $125.00 and gave the company an “overweight” rating in a research report on Wednesday, July 22nd. Finally, TD Cowen boosted their price objective on shares of Charles Schwab from $108.00 to $109.00 and gave the stock a “buy” rating in a research note on Friday, May 15th. Two analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $121.17.
View Our Latest Stock Analysis on Charles Schwab
Charles Schwab Stock Down 0.1%
Charles Schwab (NYSE:SCHW – Get Free Report) last released its quarterly earnings data on Tuesday, July 21st. The financial services provider reported $1.62 EPS for the quarter, topping analysts’ consensus estimates of $1.56 by $0.06. The firm had revenue of $7.07 billion during the quarter, compared to analysts’ expectations of $6.90 billion. Charles Schwab had a net margin of 38.79% and a return on equity of 24.53%. The company’s revenue for the quarter was up 20.9% compared to the same quarter last year. During the same period in the previous year, the business posted $1.14 earnings per share. As a group, sell-side analysts expect that The Charles Schwab Corporation will post 6.46 EPS for the current year.
Charles Schwab Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Friday, August 28th. Investors of record on Friday, August 14th will be paid a $0.32 dividend. The ex-dividend date is Friday, August 14th. This represents a $1.28 dividend on an annualized basis and a yield of 1.2%. Charles Schwab’s dividend payout ratio is 23.27%.
Insider Transactions at Charles Schwab
In other Charles Schwab news, General Counsel Peter J. Morgan III sold 6,952 shares of the firm’s stock in a transaction that occurred on Thursday, July 23rd. The shares were sold at an average price of $102.03, for a total transaction of $709,312.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Paula A. Sneed sold 5,263 shares of the business’s stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $107.15, for a total value of $563,930.45. Following the sale, the director owned 91,711 shares of the company’s stock, valued at approximately $9,826,833.65. This represents a 5.43% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 395,786 shares of company stock worth $41,346,459. 6.30% of the stock is currently owned by insiders.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Bank of America Corp DE acquired a new stake in shares of Charles Schwab during the second quarter worth $265,931,000. Birmingham Capital Management Co. Inc. AL acquired a new position in shares of Charles Schwab in the second quarter valued at about $1,029,000. Pointe Capital Management LLC acquired a new position in shares of Charles Schwab in the second quarter valued at about $504,000. First Bancorp Inc ME bought a new position in Charles Schwab during the second quarter worth about $104,000. Finally, Jupiter Topco LLC bought a new position in Charles Schwab during the second quarter worth about $5,001,000. 84.38% of the stock is owned by institutional investors and hedge funds.
About Charles Schwab
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.
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