Charles Schwab Co. (NYSE:SCHW) EVP Terri R. Kallsen sold 16,346 shares of the business’s stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $45.93, for a total transaction of $750,771.78. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.
SCHW traded down $1.24 during trading on Thursday, reaching $44.02. 7,768,002 shares of the company’s stock were exchanged, compared to its average volume of 6,486,071. Charles Schwab Co. has a one year low of $37.83 and a one year high of $60.22. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.29 and a quick ratio of 0.29. The firm has a market capitalization of $62.35 billion, a price-to-earnings ratio of 18.84, a PEG ratio of 1.07 and a beta of 1.37.
Get Charles Schwab alerts:Charles Schwab (NYSE:SCHW) last posted its earnings results on Wednesday, January 16th. The financial services provider reported $0.65 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.64 by $0.01. Charles Schwab had a net margin of 34.61% and a return on equity of 20.28%. The firm had revenue of $2.67 billion for the quarter, compared to analyst estimates of $2.64 billion. During the same period in the previous year, the firm posted $0.44 EPS. The company’s revenue for the quarter was up 19.0% compared to the same quarter last year. As a group, equities research analysts predict that Charles Schwab Co. will post 2.81 EPS for the current year.
Charles Schwab announced that its board has authorized a share buyback program on Wednesday, January 30th that allows the company to buyback $4.00 billion in outstanding shares. This buyback authorization allows the financial services provider to purchase up to 6.3% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.
The firm also recently announced a quarterly dividend, which was paid on Thursday, February 28th. Shareholders of record on Thursday, February 14th were issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 1.54%. This is a positive change from Charles Schwab’s previous quarterly dividend of $0.13. The ex-dividend date of this dividend was Wednesday, February 13th. Charles Schwab’s payout ratio is presently 27.76%.
A number of institutional investors and hedge funds have recently bought and sold shares of the business. Belpointe Asset Management LLC grew its holdings in Charles Schwab by 3.3% during the 4th quarter. Belpointe Asset Management LLC now owns 9,406 shares of the financial services provider’s stock worth $391,000 after acquiring an additional 298 shares during the last quarter. Norges Bank bought a new stake in Charles Schwab during the 4th quarter worth approximately $443,292,000. Actinver Wealth Management Inc. bought a new stake in Charles Schwab during the 4th quarter worth approximately $419,000. Ashburton Jersey Ltd grew its holdings in Charles Schwab by 170.8% during the 4th quarter. Ashburton Jersey Ltd now owns 2,275 shares of the financial services provider’s stock worth $94,000 after acquiring an additional 1,435 shares during the last quarter. Finally, Kentucky Retirement Systems Insurance Trust Fund bought a new stake in shares of Charles Schwab in the 4th quarter valued at $987,000. 78.12% of the stock is currently owned by hedge funds and other institutional investors.
SCHW has been the subject of a number of research analyst reports. Goldman Sachs Group initiated coverage on shares of Charles Schwab in a research report on Friday, November 30th. They set a “buy” rating and a $55.00 price objective for the company. Morgan Stanley lowered their price objective on shares of Charles Schwab from $66.00 to $60.00 and set a “buy” rating for the company in a research report on Wednesday, November 14th. Zacks Investment Research upgraded shares of Charles Schwab from a “hold” rating to a “buy” rating and set a $47.00 price objective for the company in a research report on Thursday, January 3rd. ValuEngine upgraded shares of Charles Schwab from a “sell” rating to a “hold” rating in a research report on Wednesday, January 16th. Finally, Wolfe Research upgraded shares of Charles Schwab from an “underperform” rating to a “market perform” rating in a research report on Tuesday, January 8th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and eight have issued a buy rating to the stock. Charles Schwab currently has an average rating of “Hold” and a consensus target price of $53.43.
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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 through 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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