Charles Schwab (NYSE:SCHW) Announces Earnings Results

Charles Schwab (NYSE:SCHW) issued its earnings results on Thursday. The financial services provider reported $1.04 EPS for the quarter, topping analysts’ consensus estimates of $1.01 by $0.03, RTT News reports. The company had revenue of $5.60 billion for the quarter, compared to analysts’ expectations 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 last year, the company earned $0.74 EPS.

Charles Schwab Stock Up 1.1 %

NYSE:SCHW opened at $76.52 on Friday. The company has a market cap of $138.77 billion, a PE ratio of 25.59, a P/E/G ratio of 0.99 and a beta of 0.91. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 0.59. Charles Schwab has a twelve month low of $61.01 and a twelve month high of $84.50. The company’s 50 day moving average is $77.16 and its two-hundred day moving average is $76.49.

Charles Schwab Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 14th were given a dividend of $0.27 per share. The ex-dividend date of this dividend was Friday, February 14th. This is an increase from Charles Schwab’s previous quarterly dividend of $0.25. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.41%. Charles Schwab’s dividend payout ratio is presently 36.12%.

Insider Buying and Selling

In other news, Chairman Walter W. Bettinger sold 464,629 shares of the business’s stock in a transaction that occurred 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 sale, the chairman now directly owns 827,377 shares in the company, valued at $67,770,450.07. The trade was a 35.96 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Paul V. Woolway sold 3,380 shares of the stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $77.43, for a total value of $261,713.40. Following the transaction, the insider now owns 45,824 shares in the company, valued at $3,548,152.32. This trade represents a 6.87 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 513,081 shares of company stock valued at $41,903,066 over the last quarter. 6.30% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Charles Schwab

A hedge fund recently raised its stake in Charles Schwab stock. Brighton Jones LLC increased its holdings in shares of The Charles Schwab Co. (NYSE:SCHW) by 380.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 24,240 shares of the financial services provider’s stock after acquiring an additional 19,195 shares during the quarter. 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 research analysts recently issued reports on the stock. UBS Group lifted their price target on shares of Charles Schwab from $90.00 to $95.00 and gave the company a “buy” rating in a research report on Monday, January 27th. Piper Sandler lifted their target price on shares of Charles Schwab from $74.00 to $80.00 in a research report on Thursday. TD Cowen raised shares of Charles Schwab from a “hold” rating to a “buy” rating and raised their price objective for the stock from $88.00 to $103.00 in a report on Tuesday, February 18th. Barclays cut their price objective on shares of Charles Schwab from $96.00 to $84.00 and set an “overweight” rating for the company in a research report on Monday, April 7th. Finally, Keefe, Bruyette & Woods lowered their price target on shares of Charles Schwab from $93.00 to $90.00 and set an “outperform” rating on the stock in a report on Thursday, April 10th. Two analysts have rated the stock with a sell rating, four have given a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $85.44.

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.