Charles Schwab (NYSE:SCHW) Sets New 12-Month High - Still a Buy?

The Charles Schwab Corporation (NYSE:SCHW - Get Free Report)'s share price reached a new 52-week high during trading on Thursday . The stock traded as high as $93.43 and last traded at $93.12, with a volume of 10556384 shares changing hands. The stock had previously closed at $91.26.

Analyst Ratings Changes

Several research firms have commented on SCHW. Redburn Atlantic raised shares of Charles Schwab from a "sell" rating to a "neutral" rating and raised their target price for the company from $65.00 to $82.00 in a research note on Monday, June 9th. Wells Fargo & Company lifted their price objective on shares of Charles Schwab from $87.00 to $102.00 and gave the stock an "overweight" rating in a research note on Friday, July 11th. Barclays raised their target price on shares of Charles Schwab from $89.00 to $106.00 and gave the stock an "overweight" rating in a report on Thursday, July 10th. Piper Sandler raised their price target on shares of Charles Schwab from $80.00 to $92.00 and gave the stock a "neutral" rating in a report on Tuesday. Finally, The Goldman Sachs Group upgraded shares of Charles Schwab from a "neutral" rating to a "buy" rating and set a $100.00 target price for the company in a research note on Friday, April 25th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and sixteen have assigned a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $95.60.

Charles Schwab Price Performance

The firm has a market cap of $169.19 billion, a P/E ratio of 28.22, a price-to-earnings-growth ratio of 0.95 and a beta of 0.93. The company has a quick ratio of 0.53, a current ratio of 0.53 and a debt-to-equity ratio of 0.53. The stock's 50-day moving average is $89.04 and its 200-day moving average is $81.76.

Charles Schwab (NYSE:SCHW - Get Free Report) last issued its earnings results on Thursday, April 17th. The financial services provider reported $1.04 EPS for the quarter, beating the consensus estimate of $1.01 by $0.03. Charles Schwab had a net margin of 31.71% and a return on equity of 18.31%. The company had revenue of $5.60 billion for the quarter, compared to the consensus estimate of $5.46 billion. During the same quarter in the previous year, the company earned $0.74 EPS. As a group, equities analysts anticipate that The Charles Schwab Corporation will post 4.22 EPS for the current fiscal year.

Charles Schwab Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 23rd. Stockholders of record on Friday, May 9th were issued a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 1.16%. The ex-dividend date of this dividend was Friday, May 9th. Charles Schwab's payout ratio is 32.73%.

Insiders Place Their Bets

In related news, insider Nigel J. Murtagh sold 20,872 shares of the company's stock in a transaction dated Wednesday, June 18th. The shares were sold at an average price of $90.01, for a total transaction of $1,878,688.72. Following the transaction, the insider owned 58,999 shares in the company, valued at $5,310,499.99. This represents a 26.13% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jonathan S. Beatty sold 2,850 shares of the company's stock in a transaction dated Friday, May 30th. The stock was sold at an average price of $87.57, for a total transaction of $249,574.50. Following the transaction, the insider owned 15,219 shares in the company, valued at approximately $1,332,727.83. This trade represents a 15.77% decrease in their position. 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 quarter. 6.30% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in SCHW. Cary Street Partners Financial LLC bought a new position in shares of Charles Schwab in the 4th quarter valued at about $1,455,000. Graham Capital Management L.P. raised its position in shares of Charles Schwab by 248.3% in the 4th quarter. Graham Capital Management L.P. now owns 112,376 shares of the financial services provider's stock valued at $8,317,000 after acquiring an additional 80,112 shares during the period. World Investment Advisors raised its position in shares of Charles Schwab by 7.6% in the 1st quarter. World Investment Advisors now owns 163,007 shares of the financial services provider's stock valued at $12,760,000 after acquiring an additional 11,505 shares during the period. State of Alaska Department of Revenue raised its position in shares of Charles Schwab by 17.2% in the 1st quarter. State of Alaska Department of Revenue now owns 199,687 shares of the financial services provider's stock valued at $15,631,000 after acquiring an additional 29,255 shares during the period. Finally, Oregon Public Employees Retirement Fund raised its position in shares of Charles Schwab by 14.3% in the 1st quarter. Oregon Public Employees Retirement Fund now owns 146,392 shares of the financial services provider's stock valued at $11,460,000 after acquiring an additional 18,280 shares during the period. Institutional investors and hedge funds own 84.38% of the company's stock.

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.