The Charles Schwab Corporation (NYSE:SCHW) Director Nancy H. Bechtle sold 23,207 shares of The Charles Schwab Corporation stock in a transaction on Monday, August 7th. The shares were sold at an average price of $43.03, for a total value of $998,597.21. Following the completion of the transaction, the director now directly owns 4,754 shares of the company’s stock, valued at $204,564.62. The sale was disclosed in a legal filing with the SEC, which is available through this link.
Shares of The Charles Schwab Corporation (NYSE SCHW) traded down 0.40% during midday trading on Friday, reaching $39.51. The company had a trading volume of 6,571,943 shares. The company has a market capitalization of $52.91 billion, a PE ratio of 26.52 and a beta of 1.63. The Charles Schwab Corporation has a one year low of $29.86 and a one year high of $44.10. The company has a 50 day moving average of $42.50 and a 200 day moving average of $41.00.
The Charles Schwab Corporation (NYSE:SCHW) last posted its 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 company had revenue of $2.13 billion for the quarter, compared to analysts’ expectations of $2.13 billion. The Charles Schwab Corporation had a return on equity of 15.41% and a net margin of 26.73%. The Charles Schwab Corporation’s quarterly revenue was up 16.5% on a year-over-year basis. During the same period last year, the firm earned $0.30 earnings per share. Analysts predict that The Charles Schwab Corporation will post $1.61 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, August 25th. Investors of record on Friday, August 11th will be paid a $0.08 dividend. The ex-dividend date is Wednesday, August 9th. This represents a $0.32 annualized dividend and a dividend yield of 0.81%. The Charles Schwab Corporation’s payout ratio is presently 21.48%.
SCHW has been the subject of several analyst reports. Citigroup Inc. reaffirmed a “buy” rating and issued a $43.00 price objective (down from $45.00) on shares of The Charles Schwab Corporation in a report on Saturday, April 22nd. Deutsche Bank AG dropped their price objective on The Charles Schwab Corporation from $45.00 to $44.00 and set a “buy” rating for the company in a report on Monday, April 24th. Jefferies Group LLC lifted their price objective on The Charles Schwab Corporation from $47.00 to $48.00 and gave the company a “buy” rating in a report on Monday, April 24th. Wells Fargo & Company reaffirmed a “market perform” rating and issued a $44.00 price objective (up from $42.00) on shares of The Charles Schwab Corporation in a report on Monday, June 12th. Finally, BidaskClub raised The Charles Schwab Corporation from a “hold” rating to a “buy” rating in a report on Tuesday, June 13th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and twelve have given a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $44.00.
Hedge funds have recently bought and sold shares of the stock. First Manhattan Co. boosted its stake in The Charles Schwab Corporation by 395.9% in the first quarter. First Manhattan Co. now owns 1,252,265 shares of the financial services provider’s stock valued at $39,534,000 after buying an additional 999,750 shares during the last quarter. 1ST Source Bank boosted its stake in The Charles Schwab Corporation by 65.7% in the first quarter. 1ST Source Bank now owns 52,583 shares of the financial services provider’s stock valued at $2,146,000 after buying an additional 20,847 shares during the last quarter. Bank of Montreal Can boosted its stake in The Charles Schwab Corporation by 25.4% in the first quarter. Bank of Montreal Can now owns 1,125,778 shares of the financial services provider’s stock valued at $45,943,000 after buying an additional 227,859 shares during the last quarter. Reilly Financial Advisors LLC boosted its stake in The Charles Schwab Corporation by 10.0% in the first quarter. Reilly Financial Advisors LLC now owns 4,571 shares of the financial services provider’s stock valued at $187,000 after buying an additional 415 shares during the last quarter. Finally, First Mercantile Trust Co. boosted its stake in The Charles Schwab Corporation by 10.5% in the first quarter. First Mercantile Trust Co. now owns 78,728 shares of the financial services provider’s stock valued at $3,213,000 after buying an additional 7,496 shares during the last quarter. 79.45% of the stock is currently owned by institutional investors and hedge funds.
About The Charles Schwab Corporation
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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