Charles Schwab (NYSE:SCHW) Hits New 1-Year High – Here’s What Happened

The Charles Schwab Co. (NYSE:SCHW)’s stock price hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $81.51 and last traded at $81.51, with a volume of 245900 shares changing hands. The stock had previously closed at $78.25.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. Jefferies Financial Group reduced their target price on shares of Charles Schwab from $79.00 to $73.00 and set a “buy” rating on the stock in a research report on Friday, October 4th. Morgan Stanley boosted their price objective on shares of Charles Schwab from $68.00 to $74.00 and gave the stock an “equal weight” rating in a report on Thursday, October 24th. The Goldman Sachs Group upped their price objective on shares of Charles Schwab from $67.00 to $74.00 and gave the company a “neutral” rating in a research report on Wednesday, October 16th. Citigroup dropped their target price on Charles Schwab from $75.00 to $72.00 and set a “neutral” rating on the stock in a research report on Friday, September 27th. Finally, Piper Sandler increased their price target on Charles Schwab from $64.00 to $65.00 and gave the company a “neutral” rating in a report on Wednesday, October 16th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $74.18.

Charles Schwab Stock Up 0.6 %

The stock’s fifty day simple moving average is $68.38 and its two-hundred day simple moving average is $69.62. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.47 and a quick ratio of 0.42. The company has a market capitalization of $143.51 billion, a price-to-earnings ratio of 31.50, a PEG ratio of 1.71 and a beta of 0.96.

Charles Schwab (NYSE:SCHW) last issued its earnings results on Tuesday, October 15th. The financial services provider reported $0.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.75 by $0.02. Charles Schwab had a net margin of 27.47% and a return on equity of 16.92%. The firm had revenue of $4.85 billion for the quarter, compared to analysts’ expectations of $4.78 billion. During the same quarter last year, the company posted $0.77 earnings per share. Charles Schwab’s revenue was up 5.2% on a year-over-year basis. On average, sell-side analysts predict that The Charles Schwab Co. will post 3.12 earnings per share for the current fiscal year.

Charles Schwab Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Friday, November 8th will be given a dividend of $0.25 per share. The ex-dividend date is Friday, November 8th. This represents a $1.00 dividend on an annualized basis and a yield of 1.24%. Charles Schwab’s dividend payout ratio is currently 39.06%.

Insiders Place Their Bets

In other news, Director Carolyn Schwab-Pomerantz sold 9,000 shares of Charles Schwab stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $64.05, for a total transaction of $576,450.00. Following the sale, the director now owns 554,929 shares of the company’s stock, valued at approximately $35,543,202.45. The trade was a 1.60 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Chairman Charles R. Schwab sold 62,345 shares of the stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $72.52, for a total value of $4,521,259.40. Following the completion of the transaction, the chairman now directly owns 60,619,371 shares of the company’s stock, valued at $4,396,116,784.92. This trade represents a 0.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 103,645 shares of company stock valued at $7,440,627 over the last three months. Company insiders own 6.60% of the company’s stock.

Institutional Investors Weigh In On Charles Schwab

A number of hedge funds and other institutional investors have recently modified their holdings of SCHW. Washington Trust Advisors Inc. increased its stake in Charles Schwab by 62.6% during the 3rd quarter. Washington Trust Advisors Inc. now owns 387 shares of the financial services provider’s stock valued at $25,000 after buying an additional 149 shares during the period. Capital Performance Advisors LLP acquired a new stake in shares of Charles Schwab in the 3rd quarter worth approximately $25,000. Country Trust Bank bought a new position in shares of Charles Schwab in the second quarter valued at approximately $26,000. American Capital Advisory LLC acquired a new position in shares of Charles Schwab during the second quarter valued at approximately $27,000. Finally, Fortitude Family Office LLC raised its holdings in Charles Schwab by 97.5% during the second quarter. Fortitude Family Office LLC now owns 389 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 192 shares in the last quarter. 84.38% of the stock is currently owned by institutional investors.

About Charles Schwab

The Charles Schwab Corporation, together with its subsidiaries, operates as a savings and loan holding company that provides wealth management, securities brokerage, banking, asset management, custody, and financial advisory services in the United States and internationally. The company operates in two segments, Investor Services and Advisor Services.