BidaskClub cut shares of The Charles Schwab Corporation (NYSE:SCHW) from a sell rating to a strong sell rating in a research note released on Friday, September 8th.
A number of other brokerages have also weighed in on SCHW. William Blair reissued an outperform rating on shares of The Charles Schwab Corporation in a research report on Friday, June 16th. Deutsche Bank AG decreased their target price on The Charles Schwab Corporation from $47.00 to $46.00 and set a buy rating for the company in a research report on Tuesday, July 4th. Citigroup Inc. began coverage on The Charles Schwab Corporation in a research report on Thursday, July 13th. They issued a neutral rating and a $46.00 target price for the company. Rosenblatt Securities began coverage on The Charles Schwab Corporation in a research note on Thursday, July 13th. They set a neutral rating and a $46.00 price target for the company. Finally, Nomura downgraded The Charles Schwab Corporation from a buy rating to a neutral rating in a research note on Monday, July 24th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and twelve have assigned a buy rating to the stock. The Charles Schwab Corporation currently has an average rating of Buy and an average target price of $44.83.
The Charles Schwab Corporation (SCHW) traded up 0.55% on Friday, reaching $40.21. 14,222,833 shares of the company traded hands. The Charles Schwab Corporation has a 52-week low of $29.86 and a 52-week high of $44.10. The stock has a 50-day moving average price of $40.53 and a 200-day moving average price of $40.80. The firm has a market cap of $53.85 billion, a P/E ratio of 26.99 and a beta of 1.64.
The Charles Schwab Corporation (NYSE:SCHW) last posted its quarterly earnings results on Tuesday, July 18th. The financial services provider reported $0.39 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.39. The firm had revenue of $2.13 billion during the quarter, compared to analyst estimates of $2.13 billion. The Charles Schwab Corporation had a return on equity of 15.41% and a net margin of 26.73%. The Charles Schwab Corporation’s quarterly revenue was up 16.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.30 EPS. Analysts anticipate that The Charles Schwab Corporation will post $1.61 earnings per share for the current fiscal year.
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The firm also recently announced a quarterly dividend, which was paid on Friday, August 25th. Shareholders of record on Friday, August 11th were paid a $0.08 dividend. The ex-dividend date of this dividend was Wednesday, August 9th. This represents a $0.32 dividend on an annualized basis and a yield of 0.80%. The Charles Schwab Corporation’s payout ratio is 21.48%.
In other news, insider Marie A. Chandoha sold 9,705 shares of the stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $43.17, for a total transaction of $418,964.85. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Terri R. Kallsen sold 1,000 shares of the stock in a transaction on Wednesday, September 6th. The stock was sold at an average price of $38.99, for a total value of $38,990.00. Following the transaction, the executive vice president now directly owns 5,212 shares in the company, valued at approximately $203,215.88. The disclosure for this sale can be found here. In the last quarter, insiders sold 925,122 shares of company stock worth $39,733,977. Insiders own 12.00% of the company’s stock.
A number of hedge funds have recently modified their holdings of SCHW. Waldron LP boosted its position in The Charles Schwab Corporation by 23.9% during the first quarter. Waldron LP now owns 9,339 shares of the financial services provider’s stock valued at $381,000 after purchasing an additional 1,799 shares in the last quarter. DUPONT CAPITAL MANAGEMENT Corp purchased a new stake in The Charles Schwab Corporation in the first quarter valued at about $757,000. Coconut Grove Bank raised its stake in The Charles Schwab Corporation by 73.6% in the first quarter. Coconut Grove Bank now owns 5,450 shares of the financial services provider’s stock valued at $222,000 after buying an additional 2,310 shares during the last quarter. Cookson Peirce & Co. Inc. raised its stake in The Charles Schwab Corporation by 0.8% in the first quarter. Cookson Peirce & Co. Inc. now owns 414,255 shares of the financial services provider’s stock valued at $16,906,000 after buying an additional 3,470 shares during the last quarter. Finally, Advisor Partners LLC raised its stake in The Charles Schwab Corporation by 4.1% in the first quarter. Advisor Partners LLC now owns 19,129 shares of the financial services provider’s stock valued at $781,000 after buying an additional 755 shares during the last quarter. 79.60% of the stock is currently owned by institutional investors.
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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