Q2 2024 EPS Estimates for The Charles Schwab Co. (NYSE:SCHW) Decreased by William Blair

The Charles Schwab Co. (NYSE:SCHW) – Investment analysts at William Blair cut their Q2 2024 earnings per share estimates for Charles Schwab in a research note issued on Wednesday, May 22nd. William Blair analyst J. Schmitt now expects that the financial services provider will earn $0.82 per share for the quarter, down from their prior estimate of $0.85. The consensus estimate for Charles Schwab’s current full-year earnings is $3.37 per share.

Several other research analysts have also recently issued reports on the company. TD Cowen dropped their target price on Charles Schwab from $92.00 to $88.00 and set a “buy” rating on the stock in a research report on Thursday. Piper Sandler raised their target price on Charles Schwab from $75.00 to $78.00 and gave the stock an “overweight” rating in a research report on Friday, April 12th. JMP Securities reissued a “market outperform” rating and issued a $80.00 target price on shares of Charles Schwab in a research report on Tuesday, April 16th. Deutsche Bank Aktiengesellschaft lowered their price objective on Charles Schwab from $86.00 to $83.00 and set a “buy” rating on the stock in a research report on Thursday. Finally, Keefe, Bruyette & Woods lifted their target price on Charles Schwab from $75.00 to $76.00 and gave the company a “market perform” rating in a research note on Tuesday, April 16th. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $75.12.

Charles Schwab Price Performance

Shares of NYSE:SCHW opened at $72.27 on Friday. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.42 and a quick ratio of 0.42. Charles Schwab has a 1-year low of $48.66 and a 1-year high of $79.49. The company has a market capitalization of $128.44 billion, a PE ratio of 30.24, a PEG ratio of 1.06 and a beta of 0.98. The business has a fifty day moving average price of $73.61 and a 200-day moving average price of $67.25.

Charles Schwab (NYSE:SCHW) last issued its quarterly earnings results on Monday, April 15th. The financial services provider reported $0.74 earnings per share for the quarter, beating the consensus estimate of $0.73 by $0.01. Charles Schwab had a return on equity of 19.25% and a net margin of 26.14%. The firm had revenue of $4.74 billion during the quarter, compared to the consensus estimate of $4.71 billion.

Charles Schwab Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 24th. Investors of record on Friday, May 10th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.38%. The ex-dividend date of this dividend was Thursday, May 9th. Charles Schwab’s payout ratio is currently 41.84%.

Insider Activity at Charles Schwab

In related news, insider Jonathan M. Craig sold 4,977 shares of the firm’s stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $70.01, for a total transaction of $348,439.77. Following the sale, the insider now owns 81,446 shares of the company’s stock, valued at $5,702,034.46. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Charles Schwab news, insider Jonathan M. Craig sold 4,977 shares of the stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $70.01, for a total value of $348,439.77. Following the completion of the sale, the insider now directly owns 81,446 shares in the company, valued at $5,702,034.46. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Nigel J. Murtagh sold 29,991 shares of the firm’s stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $67.80, for a total value of $2,033,389.80. Following the completion of the transaction, the insider now owns 81,446 shares of the company’s stock, valued at $5,522,038.80. The disclosure for this sale can be found here. Insiders have sold a total of 622,536 shares of company stock valued at $46,208,155 over the last quarter. 6.60% of the stock is owned by corporate insiders.

Institutional Trading of Charles Schwab

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Investment Research & Advisory Group Inc. boosted its stake in shares of Charles Schwab by 1.0% in the fourth quarter. Investment Research & Advisory Group Inc. now owns 58,979 shares of the financial services provider’s stock worth $4,058,000 after acquiring an additional 607 shares during the last quarter. Brown Advisory Inc. raised its position in Charles Schwab by 24.3% in the fourth quarter. Brown Advisory Inc. now owns 4,393,223 shares of the financial services provider’s stock valued at $302,254,000 after purchasing an additional 857,734 shares during the period. Bamco Inc. NY raised its position in Charles Schwab by 0.5% in the third quarter. Bamco Inc. NY now owns 8,102,475 shares of the financial services provider’s stock valued at $444,826,000 after purchasing an additional 42,588 shares during the period. Retirement Systems of Alabama raised its holdings in shares of Charles Schwab by 13.0% in the 4th quarter. Retirement Systems of Alabama now owns 1,329,388 shares of the financial services provider’s stock valued at $91,462,000 after buying an additional 152,967 shares during the period. Finally, Allspring Global Investments Holdings LLC raised its holdings in shares of Charles Schwab by 22.2% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 883,379 shares of the financial services provider’s stock valued at $60,776,000 after buying an additional 160,719 shares during the period. 84.38% of the stock is owned by institutional investors and hedge funds.

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.