Charles Schwab (NYSE:SCHW) Posts Quarterly Earnings Results, Beats Estimates By $0.04 EPS

Charles Schwab (NYSE:SCHW - Get Free Report) issued its earnings results on Friday. The financial services provider reported $1.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.10 by $0.04, Zacks reports. Charles Schwab had a net margin of 31.71% and a return on equity of 18.31%. The firm had revenue of $5.85 billion during the quarter, compared to analysts' expectations of $5.64 billion. During the same quarter last year, the company posted $0.73 earnings per share. The firm's revenue was up 24.8% compared to the same quarter last year.

Charles Schwab Price Performance

NYSE SCHW traded up $2.77 during trading hours on Friday, hitting $95.87. 23,552,773 shares of the company's stock traded hands, compared to its average volume of 9,367,516. Charles Schwab has a 52-week low of $61.15 and a 52-week high of $98.49. The company has a market capitalization of $174.19 billion, a PE ratio of 29.05, a PEG ratio of 0.97 and a beta of 0.93. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.53 and a quick ratio of 0.53. The firm's 50-day moving average is $89.44 and its 200-day moving average is $82.04.

Charles Schwab Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 23rd. Investors of record on Friday, May 9th were paid a dividend of $0.27 per share. The ex-dividend date of this dividend was Friday, May 9th. This represents a $1.08 annualized dividend and a yield of 1.13%. Charles Schwab's dividend payout ratio is presently 32.73%.

Insider Activity at Charles Schwab

In related news, insider Paul V. Woolway sold 3,290 shares of the company's stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $90.95, for a total transaction of $299,225.50. Following the completion of the sale, the insider owned 35,864 shares of the company's stock, valued at approximately $3,261,830.80. This represents a 8.40% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Peter J. Morgan III sold 10,176 shares of the stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $87.39, for a total transaction of $889,280.64. The disclosure for this sale can be found here. Insiders have sold 119,905 shares of company stock worth $10,530,833 in the last 90 days. 6.30% of the stock is owned by insiders.

Institutional Trading of Charles Schwab

A hedge fund recently raised its stake in Charles Schwab stock. Brighton Jones LLC lifted its stake in The Charles Schwab Corporation (NYSE:SCHW - Free Report) by 380.5% during the 4th quarter, according to the company in its most recent filing with the SEC. 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 own 84.38% of the company's stock.

Wall Street Analyst Weigh In

SCHW has been the subject of a number of recent analyst reports. Wells Fargo & Company set a $102.00 price objective on shares of Charles Schwab and gave the company an "overweight" rating in a report on Friday. Redburn Atlantic raised shares of Charles Schwab from a "sell" rating to a "neutral" rating and lifted their price objective for the company from $65.00 to $82.00 in a report on Monday, June 9th. Cowen reaffirmed a "buy" rating on shares of Charles Schwab in a report on Tuesday, May 20th. UBS Group lifted their price objective on shares of Charles Schwab from $95.00 to $96.00 and gave the company a "buy" rating in a report on Tuesday, April 22nd. Finally, Raymond James Financial reaffirmed an "outperform" rating and issued a $99.00 price objective on shares of Charles Schwab in a report on Friday. Two research analysts have rated the stock with a sell rating, four have given a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat.com, Charles Schwab presently has an average rating of "Moderate Buy" and an average price target of $95.60.

About Charles Schwab

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.