Charles Schwab (NYSE:SCHW) Issues Earnings Results

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

Charles Schwab Trading Up 3.0%

Shares of Charles Schwab stock opened at $95.87 on Friday. Charles Schwab has a 1 year low of $61.15 and a 1 year high of $97.50. The firm has a market cap of $174.19 billion, a PE ratio of 25.77, a P/E/G ratio of 1.00 and a beta of 0.93. The stock has a fifty day moving average price of $89.44 and a 200-day moving average price of $82.09. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.53 and a quick ratio of 0.53.

Charles Schwab Announces Dividend

The firm also recently disclosed 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 dividend on an annualized basis and a yield of 1.13%. Charles Schwab’s dividend payout ratio (DPR) is presently 32.73%.

Insider Activity

In other news, insider Paul V. Woolway sold 3,290 shares of the firm’s stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $90.95, for a total transaction of $299,225.50. Following the completion of the sale, the insider directly owned 35,864 shares of the company’s stock, valued at $3,261,830.80. This trade represents a 8.40% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Paula A. Sneed sold 8,647 shares of the firm’s stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $88.06, for a total value of $761,454.82. Following the sale, the director directly owned 105,654 shares of the company’s stock, valued at approximately $9,303,891.24. This represents a 7.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 119,905 shares of company stock worth $10,530,833. 6.30% of the stock is owned by insiders.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Charles Schwab stock. Brighton Jones LLC increased its stake in shares of The Charles Schwab Corporation (NYSE:SCHW) by 380.5% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 24,240 shares of the financial services provider’s stock after purchasing an additional 19,195 shares during the period. Brighton Jones LLC’s holdings in Charles Schwab were worth $1,794,000 as of its most recent SEC filing. 84.38% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Truist Financial boosted their price objective on Charles Schwab from $97.00 to $100.00 and gave the company a “buy” rating in a report on Monday, June 16th. TD Securities boosted their price objective on Charles Schwab from $95.00 to $113.00 and gave the company a “buy” rating in a report on Tuesday, May 20th. Barclays restated an “overweight” rating on shares of Charles Schwab in a report on Friday. Piper Sandler boosted their price objective on Charles Schwab from $80.00 to $92.00 and gave the company a “neutral” rating in a report on Tuesday, July 15th. Finally, UBS Group boosted their price objective on Charles Schwab from $95.00 to $96.00 and gave the company a “buy” rating in a report on Tuesday, April 22nd. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and sixteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $95.60.

Charles Schwab Company Profile

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.