William Blair Brokers Reduce Earnings Estimates for The Charles Schwab Co. (NYSE:SCHW)

The Charles Schwab Co. (NYSE:SCHW - Free Report) - Investment analysts at William Blair cut their Q2 2024 EPS estimates for shares of Charles Schwab in a report issued on Friday, May 24th. William Blair analyst J. Schmitt now anticipates that the financial services provider will post earnings of $0.76 per share for the quarter, down from their previous estimate of $0.82. The consensus estimate for Charles Schwab's current full-year earnings is $3.31 per share. William Blair also issued estimates for Charles Schwab's Q3 2024 earnings at $0.85 EPS, FY2024 earnings at $3.25 EPS, Q1 2025 earnings at $0.97 EPS, Q2 2025 earnings at $1.04 EPS and Q4 2025 earnings at $1.18 EPS.

Several other research analysts have also recently commented on the company. Morgan Stanley increased their price target on Charles Schwab from $65.00 to $71.00 and gave the company an "equal weight" rating in a research report on Tuesday, April 9th. StockNews.com downgraded Charles Schwab from a "hold" rating to a "sell" rating in a report on Friday. Bank of America boosted their target price on shares of Charles Schwab from $68.00 to $70.00 and gave the stock an "underperform" rating in a report on Tuesday, April 16th. Piper Sandler increased their price target on shares of Charles Schwab from $75.00 to $78.00 and gave the company an "overweight" rating in a research note on Friday, April 12th. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of Charles Schwab from $75.00 to $76.00 and gave the stock a "market perform" rating in a research note on Tuesday, April 16th. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $75.12.

Charles Schwab Stock Down 0.1 %

Shares of NYSE SCHW traded down $0.07 during mid-day trading on Monday, hitting $72.27. The company had a trading volume of 6,152,100 shares, compared to its average volume of 7,601,521. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 0.69. The firm has a 50-day simple moving average of $73.70 and a two-hundred day simple moving average of $67.46. The company has a market capitalization of $128.44 billion, a PE ratio of 30.24, a price-to-earnings-growth ratio of 1.08 and a beta of 0.98. Charles Schwab has a one year low of $48.66 and a one year high of $79.49.

Charles Schwab (NYSE:SCHW - Get Free Report) last announced its earnings results on Monday, April 15th. The financial services provider reported $0.74 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.73 by $0.01. Charles Schwab had a return on equity of 19.25% and a net margin of 26.14%. The business had revenue of $4.74 billion for the quarter, compared to analyst estimates of $4.71 billion.

Charles Schwab Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 24th. Investors of record on Friday, May 10th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.38%. The ex-dividend date of this dividend was Thursday, May 9th. Charles Schwab's dividend payout ratio is 41.84%.

Insiders Place Their Bets

In other news, insider Jonathan M. Craig sold 4,977 shares of the firm's stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $70.01, for a total transaction of $348,439.77. Following the transaction, the insider now directly owns 81,446 shares of the company's stock, valued at $5,702,034.46. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Jonathan M. Craig sold 4,977 shares of the stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $70.01, for a total transaction of $348,439.77. Following the sale, the insider now directly owns 81,446 shares of the company's stock, valued at approximately $5,702,034.46. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Peter B. Crawford sold 5,500 shares of the business's stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $65.71, for a total value of $361,405.00. Following the completion of the transaction, the chief financial officer now directly owns 24,111 shares of the company's stock, valued at approximately $1,584,333.81. The disclosure for this sale can be found here. Insiders sold 622,536 shares of company stock worth $46,208,155 in the last quarter. 6.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD boosted its stake in shares of Charles Schwab by 33.4% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 69,360,233 shares of the financial services provider's stock valued at $4,771,985,000 after purchasing an additional 17,369,091 shares in the last quarter. Norges Bank acquired a new stake in Charles Schwab in the fourth quarter valued at approximately $950,192,000. Massachusetts Financial Services Co. MA grew its stake in shares of Charles Schwab by 26.3% during the third quarter. Massachusetts Financial Services Co. MA now owns 29,775,952 shares of the financial services provider's stock worth $1,634,700,000 after buying an additional 6,195,934 shares during the last quarter. Ameriprise Financial Inc. increased its holdings in shares of Charles Schwab by 186.2% during the third quarter. Ameriprise Financial Inc. now owns 7,107,176 shares of the financial services provider's stock worth $390,234,000 after buying an additional 4,624,302 shares in the last quarter. Finally, Boston Partners lifted its stake in shares of Charles Schwab by 424.7% in the 4th quarter. Boston Partners now owns 4,451,090 shares of the financial services provider's stock valued at $305,400,000 after acquiring an additional 3,602,830 shares during the last quarter. 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.