The Charles Schwab Corporation (NYSE:SCHW) EVP Joseph R. Martinetto sold 89,330 shares of the firm’s stock in a transaction on Wednesday, July 19th. The stock was sold at an average price of $42.51, for a total value of $3,797,418.30. Following the completion of the transaction, the executive vice president now directly owns 207,961 shares in the company, valued at $8,840,422.11. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.
The Charles Schwab Corporation (NYSE:SCHW) opened at 42.14 on Friday. The stock has a market cap of $56.35 billion, a price-to-earnings ratio of 29.89 and a beta of 1.64. The company has a 50-day moving average price of $41.99 and a 200 day moving average price of $40.89. The Charles Schwab Corporation has a 52-week low of $27.71 and a 52-week high of $44.10.
The Charles Schwab Corporation (NYSE:SCHW) last released its quarterly earnings data on Tuesday, July 18th. The financial services provider reported $0.39 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.39. The company had revenue of $2.13 billion during the quarter, compared to the consensus estimate of $2.13 billion. The Charles Schwab Corporation had a net margin of 26.73% and a return on equity of 15.69%. The Charles Schwab Corporation’s quarterly revenue was up 16.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.30 EPS. On average, analysts expect that The Charles Schwab Corporation will post $1.62 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 25th. Shareholders of record on Friday, August 11th will be issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.76%. The Charles Schwab Corporation’s payout ratio is 21.48%.
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A number of equities research analysts have commented on the company. Deutsche Bank AG decreased their price target on The Charles Schwab Corporation from $47.00 to $46.00 and set a “buy” rating on the stock in a report on Thursday, April 6th. William Blair reissued an “outperform” rating on shares of The Charles Schwab Corporation in a report on Friday, June 16th. BidaskClub cut The Charles Schwab Corporation from a “buy” rating to a “hold” rating in a report on Wednesday. Keefe, Bruyette & Woods set a $44.00 price target on The Charles Schwab Corporation and gave the company a “buy” rating in a report on Monday, April 10th. Finally, Citigroup Inc. assumed coverage on The Charles Schwab Corporation in a report on Thursday, July 13th. They set a “neutral” rating and a $46.00 price target on the stock. Six equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. The Charles Schwab Corporation currently has a consensus rating of “Buy” and a consensus price target of $43.89.
A number of hedge funds have recently added to or reduced their stakes in the stock. Pinnacle Bank acquired a new stake in The Charles Schwab Corporation during the first quarter worth approximately $119,000. First Bank & Trust increased its stake in The Charles Schwab Corporation by 3.6% in the first quarter. First Bank & Trust now owns 3,125 shares of the financial services provider’s stock worth $128,000 after buying an additional 109 shares during the last quarter. YorkBridge Wealth Partners LLC increased its stake in The Charles Schwab Corporation by 9.6% in the first quarter. YorkBridge Wealth Partners LLC now owns 3,267 shares of the financial services provider’s stock worth $131,000 after buying an additional 287 shares during the last quarter. Quadrant Capital Group LLC increased its stake in The Charles Schwab Corporation by 6.4% in the first quarter. Quadrant Capital Group LLC now owns 3,449 shares of the financial services provider’s stock worth $133,000 after buying an additional 207 shares during the last quarter. Finally, FTB Advisors Inc. increased its stake in The Charles Schwab Corporation by 365.8% in the first quarter. FTB Advisors Inc. now owns 3,852 shares of the financial services provider’s stock worth $151,000 after buying an additional 3,025 shares during the last quarter. Institutional investors own 79.02% of the company’s stock.
The Charles Schwab Corporation Company Profile
The Charles Schwab Corporation (CSC) is a savings and loan holding company. The Company, through its subsidiaries, engages in wealth management, securities brokerage, banking, money management and financial advisory services. The Company provides financial services to individuals and institutional clients through two segments: Investor Services and Advisor Services.
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