Charles Schwab (NYSE:SCHW) Posts Earnings Results, Beats Estimates By $0.09 EPS

by · The Cerbat Gem

Charles Schwab (NYSE:SCHW – Get Free Report) issued its earnings results on Tuesday. The financial services provider reported $1.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.53 by $0.09, Briefing.com reports. Charles Schwab had a net margin of 37.99% and a return on equity of 23.05%. The business’s quarterly revenue was up 20.9% on a year-over-year basis. During the same period in the previous year, the firm earned $1.14 earnings per share.

Charles Schwab Price Performance

SCHW opened at $102.92 on Tuesday. The company has a 50 day moving average of $93.07 and a two-hundred day moving average of $95.34. Charles Schwab has a 52-week low of $83.96 and a 52-week high of $107.50. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 0.48. The company has a market cap of $178.99 billion, a P/E ratio of 20.42, a P/E/G ratio of 0.85 and a beta of 0.77.

Charles Schwab Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 22nd. Shareholders of record on Friday, May 8th were given a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend was Friday, May 8th. Charles Schwab’s payout ratio is 25.40%.

Wall Street Analysts Forecast Growth

SCHW has been the subject of several research reports. Piper Sandler lifted their price target on Charles Schwab from $105.00 to $112.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 15th. JPMorgan Chase & Co. lifted their price objective on Charles Schwab from $128.00 to $131.00 and gave the stock an “overweight” rating in a research report on Friday, April 17th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $128.00 price target on shares of Charles Schwab in a report on Friday, May 15th. Jefferies Financial Group reduced their target price on Charles Schwab from $122.00 to $118.00 and set a “buy” rating on the stock in a research report on Monday, April 6th. Finally, Keefe, Bruyette & Woods started coverage on shares of Charles Schwab in a report on Wednesday, April 8th. They set an “outperform” rating and a $110.00 price objective on the stock. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $117.65.

View Our Latest Report on Charles Schwab

Insider Buying and Selling at Charles Schwab

In related news, Director Frank C. Herringer sold 2,520 shares of the firm’s stock in a transaction dated Tuesday, April 28th. The stock was sold at an average price of $90.60, for a total transaction of $228,312.00. Following the sale, the director directly owned 177,508 shares in the company, valued at approximately $16,082,224.80. This trade represents a 1.40% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Jonathan S. Beatty sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, July 6th. The stock was sold at an average price of $100.01, for a total value of $200,020.00. Following the completion of the transaction, the insider owned 13,738 shares of the company’s stock, valued at approximately $1,373,937.38. This represents a 12.71% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 6,520 shares of company stock valued at $622,392. 6.30% of the stock is owned by insiders.

Institutional Trading of Charles Schwab

Several large investors have recently modified their holdings of the business. State Street Corp boosted its holdings in Charles Schwab by 1.0% in the third quarter. State Street Corp now owns 73,156,290 shares of the financial services provider’s stock valued at $6,984,231,000 after purchasing an additional 691,671 shares during the last quarter. Primecap Management Co. CA lifted its position in shares of Charles Schwab by 9.7% during the fourth quarter. Primecap Management Co. CA now owns 23,276,071 shares of the financial services provider’s stock worth $2,325,512,000 after purchasing an additional 2,066,884 shares during the last quarter. Viking Global Investors LP increased its holdings in Charles Schwab by 5.1% in the third quarter. Viking Global Investors LP now owns 16,583,101 shares of the financial services provider’s stock valued at $1,583,189,000 after buying an additional 809,876 shares during the last quarter. Amundi lifted its holdings in Charles Schwab by 21.6% during the 3rd quarter. Amundi now owns 6,982,838 shares of the financial services provider’s stock worth $656,387,000 after buying an additional 1,238,813 shares during the last quarter. Finally, Nuveen LLC lifted its stake in Charles Schwab by 1.0% during the fourth quarter. Nuveen LLC now owns 5,807,109 shares of the financial services provider’s stock worth $580,188,000 after purchasing an additional 57,317 shares during the last quarter. 84.38% of the stock is currently owned by institutional investors and hedge funds.

About Charles Schwab

(Get Free Report)

Charles Schwab Corporation (NYSE: SCHW) is a diversified financial services firm that provides brokerage, banking, wealth management and advisory services to individual investors, independent investment advisors and institutional clients. Its primary offerings include retail brokerage accounts, online trading platforms, Schwab-branded mutual funds and exchange-traded funds (ETFs), retirement plan services, custodial services for independent Registered Investment Advisors (RIAs), and banking products through Charles Schwab Bank.

Featured Articles