The Charles Schwab Co. (NYSE: SCHW) will issue a quarterly dividend of $0.22
The Charles Schwab company. (NYSE: SCHW – Get a rating) declared a quarterly dividend on Wednesday, October 26, Zacks reports. Shareholders of record on Friday, November 11 will receive a dividend of 0.22 per share from the financial services provider on Friday, November 25. This represents a dividend of $0.88 on an annualized basis and a dividend yield of 1.11%. The ex-date of this dividend is Wednesday, November 9.
Charles Schwab has increased its dividend by an average of 16.1% per year over the past three years and has increased its dividend annually for the past 1 consecutive years. Charles Schwab has a dividend payout ratio of 18.2%, indicating that its dividend is sufficiently covered by earnings. Equity research analysts expect Charles Schwab to earn $4.88 per share next year, meaning the company should continue to be able to cover its $0.88 annual dividend. with an expected future payout ratio of 18.0%.
Charles Schwab trades up 2.1%
Shares of Action Charles Schwab opened at $78.95 on Friday. The company has a debt ratio of 0.62, a current ratio of 0.41 and a quick ratio of 0.41. The company has a fifty-day moving average price of $72.34 and a 200-day moving average price of $69.09. Charles Schwab has a 1-year low of $59.35 and a 1-year high of $96.24. The stock has a market capitalization of $143.51 billion, a PE ratio of 23.50, a price-to-growth earnings ratio of 0.97 and a beta of 0.99.
Charles Schwab (NYSE: SCHW – Get a rating) last released its quarterly earnings data on Monday, October 17. The financial services provider reported earnings per share of $1.10 for the quarter, beating consensus analyst estimates of $1.05 by $0.05. Charles Schwab had a net margin of 34.02% and a return on equity of 18.96%. The company posted revenue of $5.50 billion in the quarter, versus $5.42 billion expected by analysts. In the same quarter of the previous year, the company had earned earnings per share of $0.84. The company’s revenue for the quarter increased 20.4% year over year. Equity research analysts expect Charles Schwab to post earnings per share of 3.93 for the current year.
Insider Trading at Charles Schwab
In other news, Insider Jonathan M. Craig sold 8,032 shares of the company in a transaction that took place on Friday, August 12. The shares were sold at an average price of $75.00, for a total value of $602,400.00. Following the transaction, the insider now directly owns 4,019 shares of the company, valued at approximately $301,425. The sale was disclosed in a document filed with the SEC, accessible via this hyperlink. Insiders of the company hold 7.50% of the shares of the company.
Institutional investors weigh in on Charles Schwab
A number of hedge funds have recently increased or reduced their stakes in the company. Worth Asset Management LLC bought a new stock position from Charles Schwab in Q1 worth $32,000. Covestor Ltd increased its stake in Charles Schwab shares by 16.6% in Q1. Covestor Ltd now owns 1,239 shares of the financial services provider worth $104,000 after acquiring an additional 176 shares during the period. Wealth Architects LLC increased its stake in Charles Schwab shares by 7.5% in the first quarter. Wealth Architects LLC now owns 2,609 shares of the financial services provider valued at $220,000 after purchasing an additional 182 shares during the period. Mather Group LLC. acquired a new stake in shares of Charles Schwab in the first quarter worth approximately $245,000. Finally, Private Advisory Group LLC acquired a new stake in shares of Charles Schwab in the first quarter worth approximately $251,000. 82.45% of the shares are currently held by institutional investors and hedge funds.
Analyst upgrades and downgrades
A number of research companies have weighed in on SCHW. StockNews.com began covering the actions of Charles Schwab in a report on Wednesday, October 12. They issued a “hold” rating for the company. Deutsche Bank Aktiengesellschaft raised its price target on Charles Schwab shares from $95.00 to $100.00 in a research report on Friday. Barclays raised its target price on Charles Schwab shares from $73.00 to $85.00 in a research report on Friday. JPMorgan Chase & Co. raised its price target on Charles Schwab shares from $92.00 to $102.00 in a research report on Friday. Finally, Morgan Stanley raised its price target on Charles Schwab stock from $93.00 to $99.00 and gave the stock an “overweight” rating in a Wednesday, Oct. 12 report. Six investment analysts gave the stock a hold rating and eleven gave the company a buy rating. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $91.08.
Charles Schwab Company Profile
The Charles Schwab Corporation, together with its subsidiaries, provides wealth management, securities brokerage, banking, asset management, custodial and financial advisory services. The Company operates through two segments, Investor Services and Advisory Services. The Investor Services segment provides retail brokerage, investment advisory, banking and trust, pension plan and other corporate brokerage services; equity compensation plan sponsors maintaining full-service records for equity plans, stock options, restricted stock, performance stock and stock appreciation rights; and clearing services for retail investors and mutual funds, as well as compliance solutions.
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