Charles Schwab (NYSE:SCHW) Sets New 52-Week High - Here's What Happened

The Charles Schwab Corporation (NYSE:SCHW - Get Free Report) shares reached a new 52-week high on Thursday . The company traded as high as $90.86 and last traded at $90.25, with a volume of 566021 shares traded. The stock had previously closed at $89.80.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. Morgan Stanley upped their price target on shares of Charles Schwab from $76.00 to $83.00 and gave the company an "overweight" rating in a research report on Tuesday, May 13th. JPMorgan Chase & Co. raised their target price on Charles Schwab from $92.00 to $95.00 and gave the stock an "overweight" rating in a research report on Monday, April 21st. JMP Securities reiterated a "market outperform" rating and issued a $94.00 price target on shares of Charles Schwab in a research report on Monday, April 21st. Redburn Atlantic raised Charles Schwab from a "sell" rating to a "neutral" rating and increased their price target for the company from $65.00 to $82.00 in a research note on Monday, June 9th. Finally, Citigroup raised Charles Schwab from a "neutral" rating to a "buy" rating and lifted their price objective for the stock from $85.00 to $102.00 in a research note on Wednesday, April 2nd. Two analysts have rated the stock with a sell rating, three have issued a hold rating and fifteen have issued a buy rating to the company's stock. According to MarketBeat, Charles Schwab currently has an average rating of "Moderate Buy" and a consensus price target of $89.40.

Charles Schwab Trading Up 0.7%

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 has a fifty day simple moving average of $85.57 and a 200-day simple moving average of $80.28. The firm has a market cap of $164.23 billion, a P/E ratio of 27.41, a price-to-earnings-growth ratio of 0.96 and a beta of 0.94.

Charles Schwab (NYSE:SCHW - Get Free Report) last issued its earnings results on Thursday, April 17th. The financial services provider reported $1.04 earnings per share for the quarter, topping analysts' consensus estimates of $1.01 by $0.03. Charles Schwab had a return on equity of 18.31% and a net margin of 31.71%. The company had revenue of $5.60 billion for the quarter, compared to analyst estimates of $5.46 billion. During the same period in the prior year, the firm earned $0.74 earnings per share. On average, equities research analysts expect that The Charles Schwab Corporation will post 4.22 earnings per share for the current year.

Charles Schwab Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 23rd. Stockholders of record on Friday, May 9th were issued a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.19%. The ex-dividend date was Friday, May 9th. Charles Schwab's dividend payout ratio is currently 32.73%.

Insider Buying and Selling

In related news, insider Jonathan M. Craig sold 47,500 shares of the firm's stock in a transaction dated Wednesday, May 21st. The shares were sold at an average price of $88.46, for a total transaction of $4,201,850.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Paul V. Woolway sold 10,129 shares of the company's stock in a transaction dated Wednesday, June 18th. The stock was sold at an average price of $90.01, for a total transaction of $911,711.29. Following the completion of the sale, the insider now directly owns 39,154 shares of the company's stock, valued at $3,524,251.54. The trade was a 20.55% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 119,995 shares of company stock worth $10,493,320 in the last quarter. Insiders own 6.30% of the company's stock.

Hedge Funds Weigh In On Charles Schwab

Hedge funds and other institutional investors have recently modified their holdings of the business. Atwood & Palmer Inc. purchased a new position in Charles Schwab in the first quarter worth $25,000. Westside Investment Management Inc. boosted its holdings in shares of Charles Schwab by 75.0% in the 1st quarter. Westside Investment Management Inc. now owns 350 shares of the financial services provider's stock worth $27,000 after buying an additional 150 shares during the last quarter. CBIZ Investment Advisory Services LLC grew its position in Charles Schwab by 97.9% during the first quarter. CBIZ Investment Advisory Services LLC now owns 386 shares of the financial services provider's stock valued at $30,000 after buying an additional 191 shares during the period. Stone House Investment Management LLC purchased a new stake in Charles Schwab during the first quarter worth about $31,000. Finally, Activest Wealth Management increased its holdings in Charles Schwab by 6,650.0% during the first quarter. Activest Wealth Management now owns 405 shares of the financial services provider's stock worth $32,000 after buying an additional 399 shares during the last quarter. Hedge funds and other institutional investors 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.

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