Shares of The Charles Schwab Co. (NYSE:SCHW) have been assigned a consensus rating of "Buy" from the eighteen ratings firms that are currently covering the company, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold recommendation, eleven have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $79.44.
Several research analysts have recently commented on the stock. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell increased their price target on shares of The Charles Schwab from $88.00 to $93.00 and gave the stock a "buy" rating in a research note on Friday, April 23rd. Barclays increased their price target on shares of The Charles Schwab from $65.00 to $70.00 and gave the stock an "equal weight" rating in a research note on Friday, April 23rd. Wells Fargo & Company raised their target price on shares of The Charles Schwab from $76.00 to $88.00 and gave the company an "overweight" rating in a research note on Wednesday, June 2nd. JMP Securities upgraded shares of The Charles Schwab from a "market perform" rating to a "market outperform" rating and set a $80.00 target price on the stock in a research note on Thursday, April 15th. Finally, Citigroup raised their target price on shares of The Charles Schwab from $88.00 to $93.00 in a research note on Friday, April 23rd.
In related news, EVP Jonathan M. Craig sold 2,241 shares of The Charles Schwab stock in a transaction dated Tuesday, April 6th. The shares were sold at an average price of $67.94, for a total transaction of $152,253.54. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Charles R. Schwab sold 28,000 shares of The Charles Schwab stock in a transaction dated Monday, June 14th. The shares were sold at an average price of $73.05, for a total transaction of $2,045,400.00. The disclosure for this sale can be found here. Insiders have sold a total of 1,429,147 shares of company stock valued at $100,451,401 over the last ninety days. 7.50% of the stock is owned by insiders.
A number of hedge funds have recently made changes to their positions in SCHW. Meridian Wealth Partners LLC bought a new position in The Charles Schwab during the 1st quarter valued at about $25,000. IronBridge Private Wealth LLC bought a new position in shares of The Charles Schwab in the fourth quarter worth about $27,000. Baron Financial Group LLC raised its stake in shares of The Charles Schwab by 117.5% in the first quarter. Baron Financial Group LLC now owns 435 shares of the financial services provider's stock worth $28,000 after acquiring an additional 235 shares during the last quarter. D Orazio & Associates Inc. raised its stake in shares of The Charles Schwab by 50.0% in the first quarter. D Orazio & Associates Inc. now owns 486 shares of the financial services provider's stock worth $32,000 after acquiring an additional 162 shares during the last quarter. Finally, Carolina Wealth Advisors LLC raised its stake in shares of The Charles Schwab by 87.3% in the first quarter. Carolina Wealth Advisors LLC now owns 515 shares of the financial services provider's stock worth $34,000 after acquiring an additional 240 shares during the last quarter. 71.39% of the stock is owned by hedge funds and other institutional investors.
SCHW stock opened at $72.01 on Tuesday. The Charles Schwab has a 12-month low of $31.63 and a 12-month high of $76.37. The company has a current ratio of 0.39, a quick ratio of 0.39 and a debt-to-equity ratio of 0.39. The stock has a market cap of $130.13 billion, a P/E ratio of 31.86, a price-to-earnings-growth ratio of 1.65 and a beta of 1.08. The business has a 50 day moving average of $70.48.
The Charles Schwab (NYSE:SCHW) last released its earnings results on Wednesday, April 14th. The financial services provider reported $0.84 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.82 by $0.02. The Charles Schwab had a net margin of 28.92% and a return on equity of 12.80%. The company had revenue of $4.72 billion during the quarter, compared to the consensus estimate of $4.35 billion. During the same quarter in the prior year, the firm earned $0.62 EPS. The company's revenue was up 80.2% compared to the same quarter last year. As a group, analysts expect that The Charles Schwab will post 3.18 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 28th. Stockholders of record on Friday, May 14th were issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.00%. The ex-dividend date was Thursday, May 13th. The Charles Schwab's payout ratio is 29.39%.
The Charles Schwab Company Profile
The Charles Schwab Corporation, through its subsidiaries, provides wealth management, securities brokerage, banking, asset management, custody, and financial advisory services. The company operates in two segments, Investor Services and Advisor Services. The Investor Services segment provides retail brokerage and banking services, retirement plan services, and other corporate brokerage services; equity compensation plan sponsors full-service recordkeeping for stock plans, stock options, restricted stock, performance shares, and stock appreciation rights; and retail investor, retirement plan, and mutual fund clearing services.
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