William Blair Research Analysts Increase Earnings Estimates for The Charles Schwab Co. (NYSE:SCHW)

The Charles Schwab Co. (NYSE:SCHW - Free Report) - Investment analysts at William Blair raised their Q2 2024 earnings per share estimates for shares of Charles Schwab in a research report issued to clients and investors on Tuesday, April 16th. William Blair analyst J. Schmitt now anticipates that the financial services provider will post earnings per share of $0.85 for the quarter, up from their previous forecast of $0.82. The consensus estimate for Charles Schwab's current full-year earnings is $3.40 per share. William Blair also issued estimates for Charles Schwab's Q3 2024 earnings at $0.90 EPS, Q4 2024 earnings at $0.96 EPS, FY2024 earnings at $3.45 EPS and Q3 2025 earnings at $1.08 EPS.

Charles Schwab (NYSE:SCHW - Get Free Report) last posted its earnings results on Wednesday, January 17th. The financial services provider reported $0.68 earnings per share for the quarter, topping the consensus estimate of $0.64 by $0.04. The firm had revenue of $4.46 billion for the quarter, compared to analyst estimates of $4.49 billion. Charles Schwab had a return on equity of 19.86% and a net margin of 26.14%. The company's revenue for the quarter was down 18.9% on a year-over-year basis. During the same period in the previous year, the company posted $1.07 earnings per share.

Several other research analysts have also weighed in on SCHW. Piper Sandler lifted their target price on Charles Schwab from $75.00 to $78.00 and gave the stock an "overweight" rating in a report on Friday, April 12th. Deutsche Bank Aktiengesellschaft lifted their target price on Charles Schwab from $75.00 to $77.00 and gave the stock a "buy" rating in a report on Tuesday, March 19th. The Goldman Sachs Group restated a "neutral" rating and issued a $71.00 price target (up from $70.00) on shares of Charles Schwab in a report on Wednesday, January 3rd. Raymond James cut their price target on Charles Schwab from $78.00 to $75.00 and set an "outperform" rating on the stock in a report on Thursday, January 18th. Finally, StockNews.com upgraded Charles Schwab from a "sell" rating to a "hold" rating in a report on Friday, March 15th. Three analysts have rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $74.47.

Charles Schwab Trading Down 0.8 %

SCHW stock traded down $0.57 during midday trading on Wednesday, hitting $72.50. 9,667,958 shares of the company's stock were exchanged, compared to its average volume of 7,749,902. The stock's fifty day moving average price is $68.17 and its 200-day moving average price is $62.82. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.43 and a current ratio of 0.43. The company has a market cap of $128.76 billion, a PE ratio of 30.33, a price-to-earnings-growth ratio of 1.08 and a beta of 1.01. Charles Schwab has a one year low of $45.65 and a one year high of $73.88.

Institutional Investors Weigh In On Charles Schwab

A number of institutional investors have recently made changes to their positions in the company. Dumont & Blake Investment Advisors LLC boosted its holdings in shares of Charles Schwab by 2.3% during the first quarter. Dumont & Blake Investment Advisors LLC now owns 11,324 shares of the financial services provider's stock worth $819,000 after acquiring an additional 255 shares during the period. New Mexico Educational Retirement Board boosted its holdings in shares of Charles Schwab by 13.1% during the first quarter. New Mexico Educational Retirement Board now owns 87,387 shares of the financial services provider's stock worth $6,322,000 after acquiring an additional 10,100 shares during the period. Guidance Capital Inc. bought a new stake in shares of Charles Schwab during the first quarter worth approximately $928,000. Investment Research & Advisory Group Inc. boosted its stake in shares of Charles Schwab by 5.5% in the first quarter. Investment Research & Advisory Group Inc. now owns 62,250 shares of the financial services provider's stock valued at $4,503,000 after buying an additional 3,271 shares during the period. Finally, Grimes & Company Inc. boosted its stake in shares of Charles Schwab by 2.1% in the first quarter. Grimes & Company Inc. now owns 354,819 shares of the financial services provider's stock valued at $25,668,000 after buying an additional 7,197 shares during the period. Institutional investors own 84.38% of the company's stock.

Insiders Place Their Bets

In other Charles Schwab news, CFO Peter B. Crawford sold 4,000 shares of the business's stock in a transaction that occurred on Monday, January 22nd. The stock was sold at an average price of $64.49, for a total transaction of $257,960.00. Following the transaction, the chief financial officer now owns 37,611 shares of the company's stock, valued at $2,425,533.39. The sale was disclosed in a document filed with the SEC, which is available through this link. In other Charles Schwab news, insider Nigel J. Murtagh sold 29,991 shares of the business's stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $67.80, for a total transaction of $2,033,389.80. Following the transaction, the insider now owns 81,446 shares of the company's stock, valued at $5,522,038.80. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Peter B. Crawford sold 4,000 shares of the business's stock in a transaction that occurred on Monday, January 22nd. The stock was sold at an average price of $64.49, for a total value of $257,960.00. Following the sale, the chief financial officer now owns 37,611 shares of the company's stock, valued at approximately $2,425,533.39. The disclosure for this sale can be found here. Insiders have sold a total of 216,584 shares of company stock valued at $14,200,769 over the last 90 days. 6.60% of the stock is currently owned by insiders.

Charles Schwab Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 23rd. Investors of record on Friday, February 9th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.38%. The ex-dividend date was Thursday, February 8th. Charles Schwab's dividend payout ratio is currently 41.84%.

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.