Q4 2023 EPS Estimates for The Charles Schwab Co. Decreased by Zacks Research (NYSE:SCHW)

The Charles Schwab Co. (NYSE:SCHW – Get Rating) – Stock analysts at Zacks Research dropped their Q4 2023 earnings per share (EPS) estimates for Charles Schwab in a research note issued on Tuesday, March 14th. Zacks Research analyst N. Kataruka now anticipates that the financial services provider will post earnings per share of $1.13 for the quarter, down from their prior forecast of $1.17. The consensus estimate for Charles Schwab’s current full-year earnings is $4.10 per share.

Charles Schwab (NYSE:SCHW – Get Rating) last posted its quarterly earnings results on Wednesday, January 18th. The financial services provider reported $1.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.10 by ($0.03). Charles Schwab had a net margin of 34.60% and a return on equity of 24.94%. The company had revenue of $5.50 billion for the quarter, compared to analyst estimates of $5.55 billion. During the same quarter in the previous year, the business posted $0.86 earnings per share. Charles Schwab’s revenue was up 16.8% on a year-over-year basis.

Several other analysts have also recently commented on SCHW. The Goldman Sachs Group lowered their target price on shares of Charles Schwab from $98.00 to $75.00 and set a “buy” rating for the company in a research note on Tuesday, March 14th. JPMorgan Chase & Co. initiated coverage on shares of Charles Schwab in a research note on Friday, March 10th. They issued a “buy” rating and a $97.00 target price for the company. Bank of America lowered their target price on shares of Charles Schwab from $74.00 to $60.00 in a research note on Monday, March 13th. Morgan Stanley lowered their price objective on shares of Charles Schwab from $104.00 to $99.00 and set an “overweight” rating for the company in a research note on Monday, January 30th. Finally, Barclays lowered their price objective on shares of Charles Schwab from $87.00 to $79.00 and set an “equal weight” rating for the company in a research note on Monday, January 30th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $85.04.

Charles Schwab Trading Down 2.5 %

Shares of SCHW opened at $56.41 on Friday. The stock has a market cap of $101.06 billion, a price-to-earnings ratio of 16.12, a price-to-earnings-growth ratio of 1.32 and a beta of 0.93. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.38 and a quick ratio of 0.38. Charles Schwab has a 1-year low of $45.00 and a 1-year high of $93.16. The firm has a 50 day simple moving average of $76.48 and a 200-day simple moving average of $76.60.

Institutional Trading of Charles Schwab

A number of institutional investors have recently made changes to their positions in SCHW. Circle Wealth Management LLC lifted its position in shares of Charles Schwab by 2.8% in the 4th quarter. Circle Wealth Management LLC now owns 4,811 shares of the financial services provider’s stock valued at $401,000 after acquiring an additional 131 shares in the last quarter. Trustcore Financial Services LLC lifted its position in shares of Charles Schwab by 3.1% in the 4th quarter. Trustcore Financial Services LLC now owns 4,395 shares of the financial services provider’s stock valued at $366,000 after acquiring an additional 134 shares in the last quarter. CVA Family Office LLC increased its stake in Charles Schwab by 26.8% in the 4th quarter. CVA Family Office LLC now owns 638 shares of the financial services provider’s stock valued at $53,000 after buying an additional 135 shares during the period. Regal Investment Advisors LLC increased its stake in Charles Schwab by 3.6% in the 4th quarter. Regal Investment Advisors LLC now owns 3,918 shares of the financial services provider’s stock valued at $326,000 after buying an additional 135 shares during the period. Finally, Signet Financial Management LLC increased its stake in Charles Schwab by 0.3% in the 4th quarter. Signet Financial Management LLC now owns 49,378 shares of the financial services provider’s stock valued at $4,111,000 after buying an additional 139 shares during the period. 73.49% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Charles Schwab

In other news, President Richard A. Wurster bought 2,000 shares of the firm’s stock in a transaction on Friday, March 17th. The stock was purchased at an average price of $54.39 per share, for a total transaction of $108,780.00. Following the transaction, the president now owns 101,391 shares in the company, valued at $5,514,656.49. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, President Richard A. Wurster bought 2,000 shares of the firm’s stock in a transaction on Friday, March 17th. The stock was purchased at an average price of $54.39 per share, for a total transaction of $108,780.00. Following the transaction, the president now owns 101,391 shares in the company, valued at $5,514,656.49. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Charles R. Schwab sold 188,670 shares of the company’s stock in a transaction dated Monday, February 6th. The stock was sold at an average price of $80.07, for a total transaction of $15,106,806.90. Following the completion of the transaction, the chairman now owns 30,856,646 shares of the company’s stock, valued at approximately $2,470,691,645.22. The disclosure for this sale can be found here. In the last quarter, insiders acquired 71,000 shares of company stock valued at $4,165,460 and sold 728,106 shares valued at $58,067,403. Insiders own 7.50% of the company’s stock.

Charles Schwab Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 24th. Investors of record on Friday, February 10th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.77%. The ex-dividend date of this dividend was Thursday, February 9th. This is an increase from Charles Schwab’s previous quarterly dividend of $0.22. Charles Schwab’s dividend payout ratio is currently 28.57%.

About Charles Schwab

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The Charles Schwab Corp. is a savings and loan holding company, which engages in the provision of wealth management, securities brokerage, banking, asset management, custody, and financial advisory services. It operates through the Investor Services and Advisor Services segments. The Investor Services segment includes retail brokerage and banking services to individual investors, and retirement plan services, as well as other corporate brokerage services, to businesses and their employees.