Charles Schwab (NYSE:SCHW) Posts Quarterly Earnings Results, Beats Expectations By $0.04 EPS

Charles Schwab (NYSE:SCHW) issued its earnings results on Friday. The financial services provider reported $1.14 earnings per share for the quarter, topping the consensus estimate of $1.10 by $0.04, Zacks reports. Charles Schwab had a return on equity of 18.31% and a net margin of 31.71%. The business had revenue of $5.85 billion for the quarter, compared to analyst estimates of $5.64 billion. During the same quarter last year, the company earned $0.73 EPS. The business’s quarterly revenue was up 24.8% on a year-over-year basis.

Charles Schwab Trading Up 3.0%

Shares of SCHW stock opened at $95.87 on Friday. The business’s 50 day moving average is $89.44 and its two-hundred day moving average is $82.09. Charles Schwab has a twelve month low of $61.15 and a twelve month high of $97.50. The company has a market capitalization of $174.19 billion, a P/E ratio of 25.77, a price-to-earnings-growth ratio of 1.00 and a beta of 0.93. The company has a current ratio of 0.53, a quick ratio of 0.53 and a debt-to-equity ratio of 0.53.

Charles Schwab Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, May 23rd. Shareholders of record on Friday, May 9th were paid a $0.27 dividend. The ex-dividend date was Friday, May 9th. This represents a $1.08 annualized dividend and a dividend yield of 1.13%. Charles Schwab’s dividend payout ratio (DPR) is currently 32.73%.

Insider Buying and Selling

In other Charles Schwab news, Director Paula A. Sneed sold 8,647 shares of Charles Schwab stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $88.06, for a total value of $761,454.82. Following the transaction, the director directly owned 105,654 shares in the company, valued at approximately $9,303,891.24. This trade represents a 7.57% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, General Counsel Peter J. Morgan III sold 10,176 shares of Charles Schwab stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $87.39, for a total value of $889,280.64. The disclosure for this sale can be found here. In the last ninety days, insiders sold 119,905 shares of company stock worth $10,530,833. 6.30% of the stock is currently owned by insiders.

Institutional Trading of Charles Schwab

A hedge fund recently raised its stake in Charles Schwab stock. Brighton Jones LLC grew its holdings in The Charles Schwab Corporation (NYSE:SCHW) by 380.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 24,240 shares of the financial services provider’s stock after buying an additional 19,195 shares during the quarter. Brighton Jones LLC’s holdings in Charles Schwab were worth $1,794,000 at the end of the most recent quarter. Institutional investors and hedge funds own 84.38% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. The Goldman Sachs Group raised Charles Schwab from a “neutral” rating to a “buy” rating and set a $100.00 target price on the stock in a research report on Friday, April 25th. Redburn Atlantic raised Charles Schwab from a “sell” rating to a “neutral” rating and raised their target price for the stock from $65.00 to $82.00 in a research report on Monday, June 9th. TD Securities raised their target price on Charles Schwab from $95.00 to $113.00 and gave the stock a “buy” rating in a research report on Tuesday, May 20th. Piper Sandler raised their target price on Charles Schwab from $80.00 to $92.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 15th. Finally, Cowen reissued a “buy” rating on shares of Charles Schwab in a research report on Tuesday, May 20th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $95.60.

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.