Charles Schwab (NYSE:SCHW) Stock Price Up 0.3%

The Charles Schwab Co. (NYSE:SCHW)’s stock price rose 0.3% on Friday . The stock traded as high as $73.12 and last traded at $72.95. Approximately 1,991,023 shares traded hands during trading, a decline of 73% from the average daily volume of 7,303,097 shares. The stock had previously closed at $72.70.

Analysts Set New Price Targets

SCHW has been the topic of several recent analyst reports. Citigroup boosted their price target on Charles Schwab from $70.00 to $75.00 and gave the stock a “neutral” rating in a research report on Thursday, April 11th. JMP Securities reaffirmed a “market outperform” rating and set a $80.00 price target on shares of Charles Schwab in a research report on Tuesday, May 28th. Barclays lifted their target price on Charles Schwab from $74.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 16th. TD Cowen reduced their target price on Charles Schwab from $92.00 to $88.00 and set a “buy” rating for the company in a research note on Thursday, May 23rd. Finally, Bank of America lifted their target price on Charles Schwab from $68.00 to $70.00 and gave the stock an “underperform” rating in a research note on Tuesday, April 16th. Three research analysts have rated the stock with a sell rating, five have given a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $74.65.

Charles Schwab Price Performance

The company has a 50 day moving average of $74.30 and a 200-day moving average of $69.46. The firm has a market capitalization of $130.35 billion, a P/E ratio of 30.69, a P/E/G ratio of 1.12 and a beta of 0.96. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 0.69.

Charles Schwab (NYSE:SCHW) last released its earnings results on Monday, April 15th. The financial services provider reported $0.74 earnings per share for the quarter, beating analysts’ consensus estimates of $0.73 by $0.01. The firm had revenue of $4.74 billion during the quarter, compared to the consensus estimate of $4.71 billion. Charles Schwab had a return on equity of 19.25% and a net margin of 26.14%. On average, sell-side analysts predict that The Charles Schwab Co. will post 3.25 EPS for the current year.

Charles Schwab Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, May 24th. Stockholders of record on Friday, May 10th were given a dividend of $0.25 per share. The ex-dividend date was Thursday, May 9th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.36%. Charles Schwab’s payout ratio is 41.84%.

Insider Activity

In other news, insider Bernard J. Clark sold 8,164 shares of the business’s stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $75.00, for a total transaction of $612,300.00. Following the completion of the transaction, the insider now owns 121,666 shares of the company’s stock, valued at approximately $9,124,950. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, insider Bernard J. Clark sold 8,164 shares of the business’s stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $75.00, for a total transaction of $612,300.00. Following the completion of the transaction, the insider now owns 121,666 shares of the company’s stock, valued at approximately $9,124,950. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Chairman Charles R. Schwab sold 89,275 shares of the business’s stock in a transaction on Monday, April 22nd. The stock was sold at an average price of $74.62, for a total value of $6,661,700.50. Following the transaction, the chairman now directly owns 30,641,981 shares of the company’s stock, valued at approximately $2,286,504,622.22. The disclosure for this sale can be found here. In the last three months, insiders sold 649,663 shares of company stock worth $48,344,736. 6.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Charles Schwab

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in Charles Schwab by 0.9% in the 1st quarter. Vanguard Group Inc. now owns 120,963,133 shares of the financial services provider’s stock worth $8,750,473,000 after purchasing an additional 1,042,823 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in shares of Charles Schwab by 4.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 72,306,560 shares of the financial services provider’s stock valued at $5,230,657,000 after buying an additional 2,946,327 shares during the last quarter. Massachusetts Financial Services Co. MA grew its position in shares of Charles Schwab by 4.1% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 30,994,967 shares of the financial services provider’s stock valued at $2,132,454,000 after buying an additional 1,219,015 shares during the last quarter. Fisher Asset Management LLC grew its position in shares of Charles Schwab by 1.6% in the 4th quarter. Fisher Asset Management LLC now owns 18,627,667 shares of the financial services provider’s stock valued at $1,281,584,000 after buying an additional 296,317 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of Charles Schwab in the 4th quarter valued at about $950,192,000. Institutional investors and hedge funds own 84.38% of the company’s stock.

About Charles Schwab

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.