The Charles Schwab Co. (NYSE:SCHW – Get Free Report)’s share price traded down 0.5% on Monday after JPMorgan Chase & Co. lowered their price target on the stock from $89.00 to $81.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. Charles Schwab traded as low as $72.45 and last traded at $72.92. 909,949 shares traded hands during trading, a decline of 88% from the average session volume of 7,531,587 shares. The stock had previously closed at $73.28.
A number of other brokerages also recently commented on SCHW. Piper Sandler lifted their price objective on Charles Schwab from $75.00 to $78.00 and gave the company an “overweight” rating in a research report on Friday, April 12th. Bank of America lifted their price objective on Charles Schwab from $68.00 to $70.00 and gave the company an “underperform” rating in a research report on Tuesday, April 16th. Keefe, Bruyette & Woods boosted their price target on Charles Schwab from $75.00 to $76.00 and gave the company a “market perform” rating in a research report on Tuesday, April 16th. Morgan Stanley boosted their price target on Charles Schwab from $65.00 to $71.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 9th. Finally, StockNews.com downgraded Charles Schwab from a “hold” rating to a “sell” rating in a research report on Friday, May 24th. Three analysts have rated the stock with a sell rating, five have assigned a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $74.65.
Insider Buying and Selling
In related news, insider Bernard J. Clark sold 77,431 shares of the business’s stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $70.94, for a total value of $5,492,955.14. Following the transaction, the insider now owns 121,666 shares in the company, valued at $8,630,986.04. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, insider Bernard J. Clark sold 77,431 shares of the business’s stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $70.94, for a total value of $5,492,955.14. Following the completion of the sale, the insider now directly owns 121,666 shares of the company’s stock, valued at $8,630,986.04. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Nigel J. Murtagh sold 29,991 shares of the business’s stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $67.80, for a total value of $2,033,389.80. Following the completion of the sale, the insider now directly owns 81,446 shares of the company’s stock, valued at $5,522,038.80. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 685,467 shares of company stock worth $50,752,095. 6.60% of the stock is currently owned by corporate insiders.
Hedge Funds Weigh In On Charles Schwab
Institutional investors have recently made changes to their positions in the stock. Investment Research & Advisory Group Inc. grew its holdings in shares of Charles Schwab by 1.0% during the fourth quarter. Investment Research & Advisory Group Inc. now owns 58,979 shares of the financial services provider’s stock valued at $4,058,000 after purchasing an additional 607 shares during the last quarter. Brown Advisory Inc. grew its holdings in shares of Charles Schwab by 24.3% during the fourth quarter. Brown Advisory Inc. now owns 4,393,223 shares of the financial services provider’s stock valued at $302,254,000 after purchasing an additional 857,734 shares during the last quarter. Bamco Inc. NY grew its holdings in shares of Charles Schwab by 0.5% during the third quarter. Bamco Inc. NY now owns 8,102,475 shares of the financial services provider’s stock valued at $444,826,000 after purchasing an additional 42,588 shares during the last quarter. Retirement Systems of Alabama grew its holdings in shares of Charles Schwab by 13.0% during the fourth quarter. Retirement Systems of Alabama now owns 1,329,388 shares of the financial services provider’s stock valued at $91,462,000 after purchasing an additional 152,967 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC grew its holdings in Charles Schwab by 22.2% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 883,379 shares of the financial services provider’s stock worth $60,776,000 after buying an additional 160,719 shares in the last quarter. 84.38% of the stock is owned by institutional investors.
Charles Schwab Price Performance
The firm has a market capitalization of $128.62 billion, a P/E ratio of 30.28, a price-to-earnings-growth ratio of 1.12 and a beta of 0.96. The business has a fifty day moving average of $73.83 and a 200-day moving average of $68.05. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.42 and a current ratio of 0.42.
Charles Schwab (NYSE:SCHW – Get Free Report) last issued its quarterly earnings data on Monday, April 15th. The financial services provider reported $0.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.73 by $0.01. Charles Schwab had a return on equity of 19.25% and a net margin of 26.14%. The business had revenue of $4.74 billion during the quarter, compared to analyst estimates of $4.71 billion. On average, sell-side analysts forecast that The Charles Schwab Co. will post 3.28 EPS for the current fiscal year.
Charles Schwab Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Friday, May 24th. Shareholders of record on Friday, May 10th were given a $0.25 dividend. The ex-dividend date was Thursday, May 9th. This represents a $1.00 dividend on an annualized basis and a yield of 1.38%. Charles Schwab’s dividend payout ratio (DPR) is 41.84%.
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.