Charles Schwab (NYSE:SCHW) Reaches New 52-Week High - What's Next?

The Charles Schwab Co. (NYSE:SCHW - Get Free Report)'s share price hit a new 52-week high on Tuesday . The company traded as high as $89.39 and last traded at $89.16, with a volume of 6794662 shares. The stock had previously closed at $88.69.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on SCHW shares. Wells Fargo & Company reduced their price target on Charles Schwab from $93.00 to $87.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 8th. Truist Financial upped their price objective on Charles Schwab from $84.00 to $97.00 and gave the stock a "buy" rating in a report on Thursday, May 15th. Keefe, Bruyette & Woods upped their price objective on Charles Schwab from $90.00 to $93.00 and gave the stock an "outperform" rating in a report on Tuesday, April 22nd. JMP Securities restated a "market outperform" rating and set a $94.00 price objective on shares of Charles Schwab in a report on Monday, April 21st. Finally, UBS Group upped their price objective on Charles Schwab from $95.00 to $96.00 and gave the stock a "buy" rating in a report on Tuesday, April 22nd. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $88.33.

Charles Schwab Trading Up 0.5%

The stock has a market capitalization of $162.00 billion, a price-to-earnings ratio of 29.82, a P/E/G ratio of 0.99 and a beta of 0.90. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.47 and a current ratio of 0.47. The firm has a fifty day moving average of $79.06 and a 200-day moving average of $78.59.

Charles Schwab (NYSE:SCHW - Get Free Report) last announced its quarterly earnings results on Thursday, April 17th. The financial services provider reported $1.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.01 by $0.03. Charles Schwab had a return on equity of 18.20% and a net margin of 30.31%. The firm had revenue of $5.60 billion during the quarter, compared to the consensus estimate of $5.46 billion. During the same period in the prior year, the firm earned $0.74 EPS. As a group, equities analysts predict that The Charles Schwab Co. will post 4.22 earnings per share for the current fiscal year.

Charles Schwab Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 23rd. Investors of record on Friday, May 9th will be issued a $0.27 dividend. The ex-dividend date of this dividend is Friday, May 9th. This represents a $1.08 annualized dividend and a yield of 1.21%. Charles Schwab's dividend payout ratio is currently 32.73%.

Insider Activity

In other news, Director Frank C. Herringer sold 3,592 shares of the firm's stock in a transaction dated Monday, April 21st. The stock was sold at an average price of $74.26, for a total transaction of $266,741.92. Following the completion of the sale, the director now directly owns 172,162 shares in the company, valued at $12,784,750.12. This trade represents a 2.04% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Paul V. Woolway sold 3,380 shares of the firm's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $79.32, for a total value of $268,101.60. Following the sale, the insider now owns 57,818 shares of the company's stock, valued at $4,586,123.76. This represents a 5.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 38,412 shares of company stock worth $3,014,797 over the last ninety days. Corporate insiders own 6.30% of the company's stock.

Institutional Trading of Charles Schwab

Large investors have recently modified their holdings of the business. Atwood & Palmer Inc. acquired a new stake in shares of Charles Schwab during the first quarter valued at about $25,000. Westside Investment Management Inc. grew its stake in Charles Schwab by 75.0% in the first quarter. Westside Investment Management Inc. now owns 350 shares of the financial services provider's stock worth $27,000 after purchasing an additional 150 shares in the last quarter. Stone House Investment Management LLC acquired a new position in Charles Schwab in the first quarter worth about $31,000. Activest Wealth Management grew its stake in Charles Schwab by 6,650.0% in the first quarter. Activest Wealth Management now owns 405 shares of the financial services provider's stock worth $32,000 after purchasing an additional 399 shares in the last quarter. Finally, WFA Asset Management Corp acquired a new position in Charles Schwab in the first quarter worth about $33,000. 84.38% of the stock is currently 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.