Instinet reaffirmed their neutral rating on shares of The Charles Schwab Corporation (NYSE:SCHW) in a research report sent to investors on Monday morning, Marketbeat.com reports. Instinet currently has a $43.00 target price on the financial services provider’s stock, down from their previous target price of $46.00.
SCHW has been the topic of several other reports. Citigroup Inc. reissued a buy rating and issued a $43.00 price objective (down from $45.00) on shares of The Charles Schwab Corporation in a research report on Saturday, April 22nd. Keefe, Bruyette & Woods set a $44.00 price objective on shares of The Charles Schwab Corporation and gave the company a buy rating in a research report on Monday, April 10th. Deutsche Bank AG dropped their price objective on shares of The Charles Schwab Corporation from $45.00 to $44.00 and set a buy rating on the stock in a research report on Monday, April 24th. Wells Fargo & Company reissued a market perform rating and issued a $44.00 price objective (up from $42.00) on shares of The Charles Schwab Corporation in a research report on Monday, June 12th. Finally, Morgan Stanley reissued an overweight rating and issued a $48.00 price objective (up from $45.00) on shares of The Charles Schwab Corporation in a research report on Monday, July 10th. Eight research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. The Charles Schwab Corporation has a consensus rating of Buy and a consensus target price of $43.83.
Shares of The Charles Schwab Corporation (NYSE SCHW) traded up 2.05% on Monday, reaching $42.82. 1,885,497 shares of the company traded hands. The Charles Schwab Corporation has a 52-week low of $27.71 and a 52-week high of $44.10. The stock has a 50 day moving average of $42.14 and a 200 day moving average of $40.90. The stock has a market cap of $57.29 billion, a price-to-earnings ratio of 28.74 and a beta of 1.63.
The Charles Schwab Corporation (NYSE:SCHW) last posted its quarterly earnings results on Tuesday, July 18th. The financial services provider reported $0.39 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.39. The Charles Schwab Corporation had a net margin of 26.73% and a return on equity of 15.69%. The firm had revenue of $2.13 billion for the quarter, compared to analyst estimates of $2.13 billion. During the same period in the prior year, the firm posted $0.30 earnings per share. The company’s quarterly revenue was up 16.5% compared to the same quarter last year. On average, analysts expect that The Charles Schwab Corporation will post $1.62 earnings per share for the current year.
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The business also recently declared a quarterly dividend, which will be paid on Friday, August 25th. Stockholders of record on Friday, August 11th will be paid a $0.08 dividend. The ex-dividend date of this dividend is Wednesday, August 9th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.76%. The Charles Schwab Corporation’s payout ratio is currently 21.48%.
In related news, EVP Joseph R. Martinetto sold 115,642 shares of the firm’s stock in a transaction that occurred on Thursday, July 20th. The shares were sold at an average price of $42.10, for a total value of $4,868,528.20. Following the completion of the transaction, the executive vice president now owns 210,868 shares in the company, valued at approximately $8,877,542.80. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Chairman Charles R. Schwab sold 300,000 shares of the firm’s stock in a transaction that occurred on Wednesday, April 26th. The shares were sold at an average price of $40.25, for a total transaction of $12,075,000.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 524,031 shares of company stock valued at $21,538,127. 12.00% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently modified their holdings of the stock. WealthTrust Arizona LLC raised its position in shares of The Charles Schwab Corporation by 1.2% in the second quarter. WealthTrust Arizona LLC now owns 2,466 shares of the financial services provider’s stock worth $106,000 after buying an additional 29 shares during the period. Pinnacle Bank acquired a new position in shares of The Charles Schwab Corporation during the first quarter worth about $119,000. First Bank & Trust raised its position in shares of 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 period. YorkBridge Wealth Partners LLC raised its position in shares of 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 period. Finally, Quadrant Capital Group LLC raised its position in shares of 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 period. Institutional investors and hedge funds own 79.11% 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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