Charles Schwab Corp (NYSE:SCHW) – Investment analysts at SunTrust Banks reduced their Q1 2018 earnings per share estimates for shares of Charles Schwab in a research note issued on Thursday, Zacks Investment Research reports. SunTrust Banks analyst D. Mewhirter now anticipates that the financial services provider will post earnings per share of $0.52 for the quarter, down from their previous estimate of $0.53. SunTrust Banks has a “Buy” rating on the stock.
Charles Schwab (NYSE:SCHW) last issued its quarterly earnings data on Wednesday, January 17th. The financial services provider reported $0.44 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.41 by $0.03. Charles Schwab had a return on equity of 16.31% and a net margin of 27.32%. The company had revenue of $2.24 billion during the quarter, compared to analyst estimates of $2.24 billion. During the same quarter in the previous year, the company posted $0.36 earnings per share. Charles Schwab’s revenue was up 13.7% compared to the same quarter last year.
Several other analysts have also commented on the company. Credit Suisse Group cut their price objective on Charles Schwab from $70.00 to $69.00 and set an “outperform” rating for the company in a report on Wednesday, February 7th. Citigroup downgraded Charles Schwab from a “neutral” rating to a “sell” rating and set a $49.00 target price on the stock. in a research report on Wednesday, February 7th. Morgan Stanley lifted their target price on Charles Schwab from $61.00 to $63.00 and gave the company an “overweight” rating in a research report on Tuesday, January 30th. Nomura reiterated a “neutral” rating and set a $54.00 target price (up from $50.00) on shares of Charles Schwab in a research report on Thursday, January 18th. Finally, Argus lifted their target price on Charles Schwab from $59.00 to $69.00 and gave the company a “buy” rating in a research report on Thursday, January 18th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $53.88.
Shares of Charles Schwab (NYSE SCHW) traded up $1.25 on Monday, hitting $52.40. The company had a trading volume of 6,000,000 shares, compared to its average volume of 8,000,000. The company has a quick ratio of 0.30, a current ratio of 0.31 and a debt-to-equity ratio of 0.21. Charles Schwab has a one year low of $37.16 and a one year high of $56.25. The company has a market capitalization of $70,250.00, a price-to-earnings ratio of 32.55, a P/E/G ratio of 1.26 and a beta of 1.63.
Several institutional investors have recently made changes to their positions in the company. Bogart Wealth LLC lifted its position in shares of Charles Schwab by 1,100.0% in the fourth quarter. Bogart Wealth LLC now owns 2,040 shares of the financial services provider’s stock worth $105,000 after buying an additional 1,870 shares in the last quarter. Pinnacle Wealth Planning Services Inc. purchased a new stake in shares of Charles Schwab in the fourth quarter worth about $118,000. Acadian Asset Management LLC purchased a new stake in shares of Charles Schwab in the fourth quarter worth about $187,000. Zions Bancorporation lifted its position in shares of Charles Schwab by 1,545.3% in the third quarter. Zions Bancorporation now owns 3,817 shares of the financial services provider’s stock worth $167,000 after buying an additional 3,585 shares in the last quarter. Finally, Fiduciary Trust Co. purchased a new stake in shares of Charles Schwab in the fourth quarter worth about $208,000. Institutional investors and hedge funds own 79.47% of the company’s stock.
In other news, Chairman Charles R. Schwab sold 350,000 shares of the business’s stock in a transaction dated Thursday, November 16th. The stock was sold at an average price of $44.65, for a total value of $15,627,500.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Peter B. Crawford sold 12,459 shares of the business’s stock in a transaction dated Tuesday, December 5th. The shares were sold at an average price of $51.58, for a total value of $642,635.22. Following the completion of the transaction, the chief financial officer now owns 7,652 shares in the company, valued at $394,690.16. The disclosure for this sale can be found here. Insiders sold 2,008,944 shares of company stock worth $101,205,520 over the last 90 days. Company insiders own 12.00% of the company’s stock.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 23rd. Stockholders of record on Friday, February 9th will be given a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 0.76%. This is an increase from Charles Schwab’s previous quarterly dividend of $0.08. The ex-dividend date of this dividend is Thursday, February 8th. Charles Schwab’s payout ratio is presently 24.84%.
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About Charles Schwab
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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