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

Key Points

• The Charles Schwab Corporation has declared a quarterly dividend of $0.27 per share, with an ex-dividend date of November 14th.
• Charles Schwab reported $1.31 earnings per share for the last quarter, exceeding analysts' expectations of $1.25, and demonstrating a year-over-year revenue increase of 26.6%.
• Analysts have updated their price targets for Charles Schwab, with a consensus rating of "Moderate Buy" and an average price target of $106.00.

The Charles Schwab Corporation (NYSE:SCHW - Get Free Report) declared a quarterly dividend on Thursday, October 23rd. Stockholders of record on Friday, November 14th will be given a dividend of 0.27 per share by the financial services provider on Friday, November 28th. This represents a c) annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend is Friday, November 14th.

Charles Schwab has a payout ratio of 21.2% meaning its dividend is sufficiently covered by earnings. Research 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 Stock Performance

Shares of Charles Schwab stock opened at $94.52 on Friday. The firm's fifty day simple moving average is $94.46 and its 200-day simple moving average is $90.18. Charles Schwab has a 12 month low of $65.88 and a 12 month high of $99.59. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.55 and a quick ratio of 0.55. The stock has a market capitalization of $171.58 billion, a price-to-earnings ratio of 22.14, a PEG ratio of 0.85 and a beta of 0.97.

Charles Schwab (NYSE:SCHW - Get Free Report) last issued its earnings results on Thursday, October 16th. The financial services provider reported $1.31 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.25 by $0.06. Charles Schwab had a return on equity of 21.26% and a net margin of 35.93%.The business had revenue of $6.14 billion during the quarter, compared to the consensus estimate of $5.93 billion. During the same period in the prior year, the business posted $0.71 EPS. The company's revenue for the quarter was up 26.6% on a year-over-year basis. As a group, equities analysts forecast that Charles Schwab will post 4.22 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts recently issued reports on SCHW shares. Truist Financial increased their target price on shares of Charles Schwab from $112.00 to $113.00 and gave the stock a "buy" rating in a research report on Friday, October 17th. Citigroup raised their target price on shares of Charles Schwab from $105.00 to $110.00 and gave the company a "buy" rating in a research note on Monday, July 21st. JPMorgan Chase & Co. upped their price target on shares of Charles Schwab from $119.00 to $121.00 and gave the stock an "overweight" rating in a research report on Monday. Deutsche Bank Aktiengesellschaft raised their price objective on Charles Schwab from $119.00 to $120.00 and gave the company a "buy" rating in a research report on Friday, October 17th. Finally, Weiss Ratings reiterated a "hold (c+)" rating on shares of Charles Schwab in a report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, five have given a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $106.00.

About Charles Schwab

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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