The Charles Schwab Corporation (NYSE:SCHW) released its quarterly earnings results on Tuesday, July 18th. The financial services provider reported $0.39 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.39, MarketWatch Earnings reports. The Charles Schwab Corporation had a return on equity of 15.69% and a net margin of 26.73%. The business had revenue of $2.13 billion for the quarter, compared to the consensus estimate of $2.13 billion. During the same quarter last year, the business posted $0.30 earnings per share. The company’s revenue for the quarter was up 16.5% on a year-over-year basis.
The Charles Schwab Corporation (NYSE SCHW) traded up 0.02% during mid-day trading on Friday, reaching $42.55. The company’s stock had a trading volume of 5,195,184 shares. The stock has a market cap of $56.93 billion, a P/E ratio of 28.56 and a beta of 1.64. The firm’s 50 day moving average is $42.48 and its 200-day moving average is $40.94. The Charles Schwab Corporation has a one year low of $27.71 and a one year high of $44.10.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 25th. Shareholders of record on Friday, August 11th will be given a dividend of $0.08 per share. The ex-dividend date is Wednesday, August 9th. This represents a $0.32 annualized dividend and a yield of 0.75%. The Charles Schwab Corporation’s payout ratio is 21.48%.
A number of equities research analysts have weighed in on the company. Deutsche Bank AG downgraded The Charles Schwab Corporation from a “buy” rating to a “hold” rating and raised their price target for the company from $40.00 to $43.00 in a research report on Tuesday, July 11th. Morgan Stanley reaffirmed an “overweight” rating and set a $48.00 price objective (up from $45.00) on shares of The Charles Schwab Corporation in a research note on Monday, July 10th. Citigroup Inc. began coverage on The Charles Schwab Corporation in a research note on Thursday, July 13th. They set a “neutral” rating and a $46.00 price objective on the stock. Rosenblatt Securities began coverage on The Charles Schwab Corporation in a research note on Thursday, July 13th. They set a “neutral” rating and a $46.00 price objective on the stock. Finally, BidaskClub cut The Charles Schwab Corporation from a “buy” rating to a “hold” rating in a research note on Wednesday, July 19th. Eight investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $44.00.
In other The Charles Schwab Corporation news, EVP Terri R. Kallsen sold 10,536 shares of the company’s stock in a transaction dated Monday, July 3rd. The shares were sold at an average price of $43.15, for a total value of $454,628.40. Following the transaction, the executive vice president now directly owns 5,212 shares in the company, valued at approximately $224,897.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Joseph R. Martinetto sold 115,642 shares of the company’s stock in a transaction dated Thursday, July 20th. The stock was sold at an average price of $42.10, for a total transaction 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 $8,877,542.80. The disclosure for this sale can be found here. Insiders sold a total of 216,208 shares of company stock worth $9,151,381 over the last 90 days. Insiders own 12.00% of the company’s stock.
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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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