Key Points
- Charles Schwab insider Dennis Howard sold 2,198 shares at an average price of $110, generating $241,780; the transaction was made under a pre-arranged Rule 10b5-1 plan. He now owns 6,980 shares after also selling 28,000 shares in July.
- Schwab reported quarterly earnings of $1.62 per share, beating estimates of $1.56, while revenue rose 20.9% year over year to $7.07 billion. The company declared a quarterly dividend of $0.32 per share, representing a 1.2% yield.
- Analysts maintain a “Moderate Buy” consensus with an average price target of $121.17, while institutional investors own 84.38% of the company’s shares.
The Charles Schwab Corporation (NYSE:SCHW - Get Free Report) insider Dennis Howard sold 2,198 shares of Charles Schwab stock in a transaction dated Thursday, August 13th. The stock was sold at an average price of $110.00, for a total value of $241,780.00. Following the completion of the transaction, the insider owned 6,980 shares in the company, valued at approximately $767,800. This represents a 23.95% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Dennis Howard also recently made the following trade(s):
- On Tuesday, July 28th, Dennis Howard sold 28,000 shares of Charles Schwab stock. The shares were sold at an average price of $105.01, for a total value of $2,940,280.00.
Charles Schwab Price Performance
SCHW opened at $110.75 on Tuesday. The stock's 50 day simple moving average is $99.86 and its 200 day simple moving average is $95.89. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.64 and a quick ratio of 0.64. The Charles Schwab Corporation has a 1 year low of $83.96 and a 1 year high of $111.64. The firm has a market cap of $191.52 billion, a price-to-earnings ratio of 20.14, a PEG ratio of 0.85 and a beta of 0.76.
Charles Schwab (NYSE:SCHW - Get Free Report) last announced its quarterly earnings data on Tuesday, July 21st. The financial services provider reported $1.62 earnings per share for the quarter, beating the consensus estimate of $1.56 by $0.06. The firm had revenue of $7.07 billion during the quarter, compared to the consensus estimate of $6.90 billion. Charles Schwab had a return on equity of 24.53% and a net margin of 38.79%.The business's revenue was up 20.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.14 earnings per share. As a group, analysts predict that The Charles Schwab Corporation will post 6.46 earnings per share for the current year.
Charles Schwab Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Friday, August 28th. Investors of record on Friday, August 14th will be issued a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date is Friday, August 14th. Charles Schwab's dividend payout ratio is currently 23.27%.
Institutional Investors Weigh In On Charles Schwab
Several institutional investors and hedge funds have recently modified their holdings of SCHW. Dogwood Wealth Management LLC increased its position in shares of Charles Schwab by 99.2% during the fourth quarter. Dogwood Wealth Management LLC now owns 247 shares of the financial services provider's stock valued at $25,000 after buying an additional 123 shares during the period. Compass Financial Management LLC bought a new stake in Charles Schwab during the 2nd quarter valued at approximately $27,000. Scarborough Advisors LLC bought a new stake in Charles Schwab during the 1st quarter valued at approximately $29,000. McIlrath & Eck LLC grew its holdings in shares of Charles Schwab by 143.2% during the 4th quarter. McIlrath & Eck LLC now owns 321 shares of the financial services provider's stock worth $32,000 after acquiring an additional 189 shares during the period. Finally, Main Street Group LTD bought a new position in shares of Charles Schwab in the 1st quarter worth approximately $33,000. 84.38% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
A number of equities research analysts have issued reports on the stock. Weiss Ratings reissued a "buy (b-)" rating on shares of Charles Schwab in a report on Thursday, June 18th. Argus upped their price objective on shares of Charles Schwab from $108.00 to $114.00 and gave the company a "buy" rating in a research note on Thursday, July 23rd. Morgan Stanley increased their target price on shares of Charles Schwab from $133.00 to $136.00 and gave the stock an "overweight" rating in a report on Monday, July 27th. Raymond James Financial reissued an "outperform" rating and issued a $145.00 target price on shares of Charles Schwab in a research note on Wednesday, July 22nd. Finally, Zacks Research raised Charles Schwab from a "hold" rating to a "strong-buy" rating in a research report on Thursday, July 9th. Two research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $121.17.
Get Our Latest Stock Report on Charles Schwab
Charles Schwab Company Profile
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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.
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