The Charles Schwab Corporation (NYSE:SCHW) Declares Quarterly Dividend of $0.27

The Charles Schwab Corporation (NYSE:SCHW - Get Free Report) announced a quarterly dividend on Thursday, July 24th, RTT News reports. Shareholders of record on Friday, August 8th will be paid a dividend of 0.27 per share by the financial services provider on Friday, August 22nd. This represents a $1.08 annualized dividend and a yield of 1.12%.

Charles Schwab has a dividend payout ratio of 21.2% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Charles Schwab to earn $5.21 per share next year, which means the company should continue to be able to cover its $1.08 annual dividend with an expected future payout ratio of 20.7%.

Charles Schwab Trading Up 1.5%

NYSE:SCHW traded up $1.39 during mid-day trading on Thursday, hitting $96.54. 9,042,153 shares of the stock traded hands, compared to its average volume of 10,284,875. The stock has a market capitalization of $175.41 billion, a price-to-earnings ratio of 25.95, a PEG ratio of 0.92 and a beta of 0.93. Charles Schwab has a 52 week low of $61.15 and a 52 week high of $97.50. The firm's 50 day moving average is $90.00 and its two-hundred day moving average is $82.48. The company has a quick ratio of 0.53, a current ratio of 0.53 and a debt-to-equity ratio of 0.53.

Charles Schwab (NYSE:SCHW - Get Free Report) last released its quarterly earnings data on Friday, July 18th. The financial services provider reported $1.14 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.10 by $0.04. Charles Schwab had a net margin of 33.68% and a return on equity of 19.73%. The firm had revenue of $5.85 billion for the quarter, compared to the consensus estimate of $5.64 billion. During the same period last year, the firm earned $0.73 earnings per share. The company's quarterly revenue was up 24.8% on a year-over-year basis. On average, equities research analysts predict that Charles Schwab will post 4.22 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on SCHW shares. Piper Sandler boosted their target price on shares of Charles Schwab from $80.00 to $92.00 and gave the company a "neutral" rating in a report on Tuesday, July 15th. Wells Fargo & Company set a $102.00 price objective on shares of Charles Schwab and gave the stock an "overweight" rating in a report on Friday, July 18th. Bank of America boosted their price objective on shares of Charles Schwab from $83.00 to $84.00 and gave the company an "underperform" rating in a research report on Monday. UBS Group boosted their price objective on shares of Charles Schwab from $95.00 to $96.00 and gave the stock a "buy" rating in a research note on Tuesday, April 22nd. Finally, Citigroup increased their price objective on shares of Charles Schwab from $105.00 to $110.00 and gave the company a "buy" rating in a research note on Monday. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $98.65.

Insider Activity

In other Charles Schwab news, insider Nigel J. Murtagh sold 20,872 shares of Charles Schwab stock in a transaction on 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 directly owned 58,999 shares of the company's stock, valued at $5,310,499.99. The trade was a 26.13% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jonathan M. Craig sold 47,500 shares of Charles Schwab stock in a transaction on Wednesday, May 21st. The stock was sold at an average price of $88.46, for a total value of $4,201,850.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 116,313 shares of company stock worth $10,264,091. 6.30% of the stock is owned by insiders.

Institutional Investors Weigh In On Charles Schwab

A hedge fund recently raised its stake in Charles Schwab stock. Brighton Jones LLC raised its holdings in The Charles Schwab Corporation (NYSE:SCHW - Free Report) by 380.5% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 24,240 shares of the financial services provider's stock after acquiring an additional 19,195 shares during the quarter. Brighton Jones LLC's holdings in Charles Schwab were worth $1,794,000 as of its most recent filing with the Securities & Exchange Commission. 84.38% of the stock is currently owned by institutional investors.

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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