Shares of Charles Schwab Corp (NYSE:SCHW) have received a consensus rating of “Buy” from the eighteen research firms that are presently covering the company. Two investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $39.68.
SCHW has been the subject of a number of analyst reports. Bank of America Corp reaffirmed a “buy” rating and issued a $47.00 price target on shares of Charles Schwab Corp in a report on Friday, March 3rd. Zacks Investment Research cut Charles Schwab Corp from a “buy” rating to a “hold” rating in a report on Wednesday, February 8th. Citigroup Inc raised Charles Schwab Corp from a “neutral” rating to a “buy” rating in a report on Tuesday, November 22nd. Morgan Stanley reaffirmed an “overweight” rating on shares of Charles Schwab Corp in a report on Saturday, December 17th. Finally, SunTrust Banks, Inc. reaffirmed a “buy” rating and issued a $44.00 price target on shares of Charles Schwab Corp in a report on Tuesday, February 28th.
Charles Schwab Corp (NYSE:SCHW) opened at 42.25 on Tuesday. Charles Schwab Corp has a 12-month low of $23.83 and a 12-month high of $43.65. The stock’s 50 day moving average is $41.51 and its 200-day moving average is $37.07. The company has a market cap of $56.40 billion, a P/E ratio of 32.25 and a beta of 1.78.
Charles Schwab Corp (NYSE:SCHW) last issued its earnings results on Wednesday, January 18th. The company reported $0.36 EPS for the quarter, hitting analysts’ consensus estimates of $0.36. Charles Schwab Corp had a return on equity of 14.65% and a net margin of 25.26%. The firm had revenue of $1.97 billion for the quarter, compared to the consensus estimate of $1.99 billion. The company’s revenue was up 16.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.24 earnings per share. Analysts predict that Charles Schwab Corp will post $1.60 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, February 24th. Shareholders of record on Friday, February 10th were issued a dividend of $0.08 per share. The ex-dividend date was Wednesday, February 8th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.76%. This is a boost from Charles Schwab Corp’s previous quarterly dividend of $0.07. Charles Schwab Corp’s dividend payout ratio is presently 24.62%.
In other Charles Schwab Corp news, insider Walter W. Bettinger sold 320,649 shares of the stock in a transaction that occurred on Friday, December 23rd. The stock was sold at an average price of $40.35, for a total transaction of $12,938,187.15. Following the completion of the transaction, the insider now owns 564,308 shares of the company’s stock, valued at $22,769,827.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Marie A. Chandoha sold 6,317 shares of the stock in a transaction that occurred on Thursday, March 16th. The shares were sold at an average price of $43.50, for a total value of $274,789.50. The disclosure for this sale can be found here. Insiders have sold 2,161,363 shares of company stock valued at $89,405,142 in the last three months. Insiders own 12.60% of the company’s stock.
Several large investors have recently bought and sold shares of the stock. Dodge & Cox bought a new stake in Charles Schwab Corp during the fourth quarter valued at approximately $3,813,732,000. Price T Rowe Associates Inc. MD boosted its stake in Charles Schwab Corp by 191.2% in the third quarter. Price T Rowe Associates Inc. MD now owns 16,620,867 shares of the company’s stock valued at $524,721,000 after buying an additional 10,912,905 shares in the last quarter. Viking Global Investors LP bought a new stake in Charles Schwab Corp during the fourth quarter valued at approximately $318,033,000. State Street Corp boosted its stake in Charles Schwab Corp by 7.3% in the fourth quarter. State Street Corp now owns 61,155,943 shares of the company’s stock valued at $2,413,822,000 after buying an additional 4,153,309 shares in the last quarter. Finally, Norges Bank bought a new stake in Charles Schwab Corp during the fourth quarter valued at approximately $153,553,000. 78.34% of the stock is owned by hedge funds and other institutional investors.
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About Charles Schwab Corp
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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