Frank C. Herringer Sells 3,592 Shares of The Charles Schwab Co. (NYSE:SCHW) Stock

by · The Cerbat Gem

The Charles Schwab Co. (NYSE:SCHW – Get Free Report) Director Frank C. Herringer sold 3,592 shares of Charles Schwab stock in a transaction dated Monday, April 21st. The stock was sold at an average price of $74.26, for a total value of $266,741.92. Following the completion of the sale, the director now directly owns 172,162 shares in the company, valued at $12,784,750.12. This trade represents a 2.04 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Charles Schwab Trading Up 2.2 %

SCHW stock opened at $76.60 on Wednesday. The Charles Schwab Co. has a 12 month low of $61.01 and a 12 month high of $84.50. The firm’s 50-day moving average is $76.91 and its 200 day moving average is $76.74. The company has a market capitalization of $138.92 billion, a PE ratio of 25.62, a P/E/G ratio of 0.99 and a beta of 0.91. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.47 and a quick ratio of 0.47.

Charles Schwab (NYSE:SCHW – Get Free Report) last issued its earnings results on Thursday, April 17th. The financial services provider reported $1.04 EPS for the quarter, topping analysts’ consensus estimates of $1.01 by $0.03. Charles Schwab had a net margin of 30.31% and a return on equity of 18.20%. The business had revenue of $5.60 billion for the quarter, compared to analyst estimates of $5.46 billion. During the same period last year, the company posted $0.74 earnings per share. On average, research analysts anticipate that The Charles Schwab Co. will post 4.22 EPS for the current year.

Charles Schwab Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 14th were given a dividend of $0.27 per share. This is an increase from Charles Schwab’s previous quarterly dividend of $0.25. The ex-dividend date was Friday, February 14th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.41%. Charles Schwab’s dividend payout ratio is presently 36.12%.

Analyst Ratings Changes

A number of research firms have issued reports on SCHW. Citigroup raised Charles Schwab from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $85.00 to $102.00 in a research note on Wednesday, April 2nd. JPMorgan Chase & Co. boosted their price target on shares of Charles Schwab from $92.00 to $95.00 and gave the stock an “overweight” rating in a research report on Monday. Keefe, Bruyette & Woods upped their price target on shares of Charles Schwab from $90.00 to $93.00 and gave the company an “outperform” rating in a research note on Tuesday. Morgan Stanley raised shares of Charles Schwab from an “equal weight” rating to an “overweight” rating and set a $76.00 price objective for the company in a research note on Tuesday, April 8th. Finally, Redburn Partners decreased their target price on shares of Charles Schwab from $70.00 to $68.00 and set a “sell” rating on the stock in a research report on Friday, January 17th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $85.78.

Get Our Latest Stock Report on Charles Schwab

Institutional Trading of Charles Schwab

Several institutional investors and hedge funds have recently made changes to their positions in the company. Atwood & Palmer Inc. purchased a new position in Charles Schwab during the 1st quarter valued at about $25,000. WFA Asset Management Corp bought a new position in shares of Charles Schwab during the first quarter valued at approximately $33,000. Murphy & Mullick Capital Management Corp purchased a new position in Charles Schwab during the fourth quarter valued at approximately $38,000. Beacon Capital Management LLC raised its stake in Charles Schwab by 53.1% in the first quarter. Beacon Capital Management LLC now owns 487 shares of the financial services provider’s stock worth $38,000 after buying an additional 169 shares in the last quarter. Finally, Atala Financial Inc purchased a new stake in Charles Schwab during the fourth quarter worth $41,000. 84.38% of the stock is currently owned by institutional investors.

About Charles Schwab

(Get Free Report)

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.

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