Charles Schwab (NYSE:SCHW) Hits New 12-Month High – Still a Buy?

Shares of The Charles Schwab Corporation (NYSE:SCHW) hit a new 52-week high on Friday . The company traded as high as $104.89 and last traded at $104.8780, with a volume of 4655568 shares. The stock had previously closed at $102.76.

Wall Street Analyst Weigh In

SCHW has been the topic of several research analyst reports. Keefe, Bruyette & Woods boosted their target price on shares of Charles Schwab from $109.00 to $111.00 and gave the stock an “outperform” rating in a research report on Friday, October 17th. Piper Sandler boosted their price objective on shares of Charles Schwab from $100.00 to $105.00 and gave the company a “neutral” rating in a report on Wednesday. Citigroup reissued a “market outperform” rating on shares of Charles Schwab in a research report on Monday. Cowen reiterated a “buy” rating on shares of Charles Schwab in a research note on Wednesday. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and set a $114.00 target price on shares of Charles Schwab in a report on Friday, October 17th. One research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, five have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, Charles Schwab presently has a consensus rating of “Moderate Buy” and an average target price of $112.24.

Charles Schwab Trading Up 1.1%

The firm has a market cap of $184.53 billion, a PE ratio of 24.33, a price-to-earnings-growth ratio of 0.71 and a beta of 0.94. The company has a 50-day simple moving average of $96.98 and a 200 day simple moving average of $95.40. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 0.47.

Charles Schwab (NYSE:SCHW) last posted its earnings results on Thursday, October 16th. The financial services provider reported $1.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.25 by $0.06. Charles Schwab had a net margin of 35.93% and a return on equity of 21.02%. The firm had revenue of $6.38 billion during the quarter, compared to analysts’ expectations of $5.93 billion. During the same period in the previous year, the business posted $0.71 EPS. The business’s revenue was up 26.6% compared to the same quarter last year. As a group, sell-side analysts forecast that The Charles Schwab Corporation will post 4.22 earnings per share for the current fiscal year.

Charles Schwab Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 28th. Stockholders of record on Friday, November 14th were given a dividend of $0.27 per share. The ex-dividend date was Friday, November 14th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.0%. Charles Schwab’s dividend payout ratio (DPR) is 25.29%.

Insider Buying and Selling at Charles Schwab

In other Charles Schwab news, insider Jonathan S. Beatty sold 3,072 shares of the stock in a transaction that occurred on Wednesday, November 12th. The stock was sold at an average price of $98.00, for a total transaction of $301,056.00. Following the transaction, the insider owned 11,923 shares in the company, valued at approximately $1,168,454. This represents a 20.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 6.30% of the stock is currently owned by corporate insiders.

Institutional Trading of Charles Schwab

A number of hedge funds have recently bought and sold shares of SCHW. Piscataqua Savings Bank acquired a new stake in shares of Charles Schwab in the fourth quarter valued at approximately $26,000. Princeton Global Asset Management LLC acquired a new stake in shares of Charles Schwab in the 2nd quarter worth $25,000. GoalVest Advisory LLC purchased a new position in shares of Charles Schwab during the 4th quarter worth $28,000. RMG Wealth Management LLC acquired a new position in shares of Charles Schwab during the 2nd quarter valued at about $27,000. Finally, West Branch Capital LLC purchased a new stake in shares of Charles Schwab in the third quarter valued at about $27,000. Institutional investors and hedge funds own 84.38% of the company’s stock.

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.