The Charles Schwab Corporation, together with 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, investment advisory, banking and trust, retirement plan, 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 and mutual fund clearing services, as well as compliance solutions. The Advisor Services segment offers custodial, trading, banking, and support services; and retirement business and corporate brokerage retirement services. This segment provides brokerage accounts with equity and fixed income, margin lending, options, and futures and forex trading; cash management capabilities comprising third-party certificates of deposit; third-party and proprietary mutual funds; plus mutual fund trading and clearing services; and exchange-traded funds (ETFs), including proprietary and third-party ETFs. It also offers advice solutions, such as managed portfolios of proprietary and third-party mutual funds and ETFs, separately managed accounts, customized personal advice for tailored portfolios, and specialized planning and portfolio management. In addition, this segment provides banking products and services, including checking and savings accounts, first lien residential real estate mortgage loans, home equity lines of credit, and pledged asset lines; and trust services comprising trust custody services, personal trust reporting services, and administrative trustee services. As of December 31, 2021, the Company had approximately 400 domestic branch offices in 48 states and the District of Columbia, as well as locations in Puerto Rico, the United Kingdom, Hong Kong, and Singapore. The Charles Schwab Corporation was incorporated in 1971 and is headquartered in Westlake, Texas.
Charles Schwab Stock Up 3.3 %
Shares of Charles Schwab stock traded up $2.43 on Friday, reaching $75.00. The stock had a trading volume of 14,934,059 shares, compared to its average volume of 8,522,571. The company has a 50 day moving average price of $64.43 and a 200 day moving average price of $74.32. The company has a quick ratio of 0.44, a current ratio of 0.41 and a debt-to-equity ratio of 0.62. Charles Schwab has a 1 year low of $59.35 and a 1 year high of $96.24. The stock has a market capitalization of $136.28 billion, a P/E ratio of 24.20, a P/E/G ratio of 0.84 and a beta of 1.10.
Charles Schwab (NYSE:SCHW - Get Rating) last issued its quarterly earnings data on Monday, July 18th. The financial services provider reported $0.97 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.91 by $0.06. Charles Schwab had a net margin of 33.09% and a return on equity of 16.82%. The firm had revenue of $5.09 billion for the quarter, compared to the consensus estimate of $5.04 billion. During the same quarter in the previous year, the firm earned $0.70 EPS. The company's quarterly revenue was up 12.5% compared to the same quarter last year. As a group, equities research analysts forecast that Charles Schwab will post 3.91 EPS for the current year.
Charles Schwab Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 26th. Stockholders of record on Friday, August 12th will be given a $0.22 dividend. The ex-dividend date is Thursday, August 11th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.17%. This is an increase from Charles Schwab's previous quarterly dividend of $0.20. Charles Schwab's payout ratio is presently 26.32%.
Analysts Set New Price Targets
A number of equities research analysts recently weighed in on the stock. Morgan Stanley decreased their price objective on shares of Charles Schwab from $98.00 to $93.00 and set an "overweight" rating for the company in a report on Monday, August 1st. UBS Group lifted their price objective on shares of Charles Schwab from $75.00 to $82.00 and gave the company a "buy" rating in a report on Friday, July 29th. Piper Sandler decreased their price objective on shares of Charles Schwab from $110.00 to $100.00 and set an "overweight" rating for the company in a report on Friday, April 22nd. JPMorgan Chase & Co. decreased their price objective on shares of Charles Schwab from $107.00 to $101.00 in a report on Thursday, April 14th. Finally, Jefferies Financial Group decreased their price objective on shares of Charles Schwab to $95.00 in a report on Friday, April 22nd. Four investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $92.42.
Insider Transactions at Charles Schwab
In related news, Chairman Charles R. Schwab sold 149,600 shares of Charles Schwab stock in a transaction that occurred on Thursday, July 28th. The shares were sold at an average price of $65.36, for a total value of $9,777,856.00. Following the completion of the sale, the chairman now directly owns 69,749,230 shares in the company, valued at approximately $4,558,809,672.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Chairman Charles R. Schwab sold 120,000 shares of Charles Schwab stock in a transaction that occurred on Wednesday, July 20th. The shares were sold at an average price of $62.70, for a total value of $7,524,000.00. Following the completion of the sale, the chairman now directly owns 71,083,305 shares in the company, valued at approximately $4,456,923,223.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Charles R. Schwab sold 149,600 shares of Charles Schwab stock in a transaction that occurred on Thursday, July 28th. The stock was sold at an average price of $65.36, for a total transaction of $9,777,856.00. Following the completion of the sale, the chairman now owns 69,749,230 shares of the company's stock, valued at $4,558,809,672.80. The disclosure for this sale can be found here. Insiders own 7.50% of the company's stock.
