Charles Schwab Corp (NYSE:SCHW) posted its quarterly earnings results on Monday. The financial services provider reported $0.42 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.41 by $0.01, MarketWatch Earnings reports. The company had revenue of $2.17 billion for the quarter, compared to the consensus estimate of $2.18 billion. Charles Schwab Corp had a return on equity of 14.71% and a net margin of 26.09%. The firm’s quarterly revenue was up 13.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.35 EPS.
Charles Schwab Corp (NYSE SCHW) opened at 44.47 on Tuesday. Charles Schwab Corp has a one year low of $30.66 and a one year high of $46.21. The stock has a 50 day moving average price of $41.93 and a 200 day moving average price of $41.08. The company has a market cap of $59.55 billion, a PE ratio of 29.85 and a beta of 1.68.
Several brokerages recently commented on SCHW. BidaskClub downgraded Charles Schwab Corp from a “strong-buy” rating to a “buy” rating in a research note on Tuesday. Barclays PLC raised their price objective on Charles Schwab Corp from $48.00 to $51.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 10th. Morgan Stanley raised their price objective on Charles Schwab Corp from $51.00 to $53.00 and gave the stock an “overweight” rating in a research note on Thursday, October 5th. Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $47.00 price objective on shares of Charles Schwab Corp in a research note on Friday, September 15th. Finally, Jefferies Group LLC reaffirmed a “buy” rating and set a $49.00 price objective on shares of Charles Schwab Corp in a research note on Friday, September 15th. Six research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $46.80.
In other news, Chairman Charles R. Schwab sold 26,000 shares of the business’s stock in a transaction dated Monday, July 31st. The shares were sold at an average price of $42.80, for a total transaction of $1,112,800.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Terri R. Kallsen sold 1,000 shares of the business’s stock in a transaction dated Wednesday, September 6th. The stock was sold at an average price of $38.99, for a total transaction of $38,990.00. Following the sale, the executive vice president now directly owns 5,212 shares of the company’s stock, valued at $203,215.88. The disclosure for this sale can be found here. Insiders have sold 1,035,705 shares of company stock worth $44,665,539 in the last quarter. Company insiders own 12.00% of the company’s stock.
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About Charles Schwab Corp
The Charles Schwab Corporation (CSC) is a savings and loan holding company. The Company, through its subsidiaries, engages in wealth management, securities brokerage, banking, money management and financial advisory services. The Company provides financial services to individuals and institutional clients through two segments: Investor Services and Advisor Services.
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