FY2024 EPS Estimate for Charles Schwab Increased by Analyst

The Charles Schwab Co. (NYSE:SCHW) – Research analysts at Zacks Research raised their FY2024 earnings per share estimates for Charles Schwab in a research report issued to clients and investors on Thursday, December 19th. Zacks Research analyst R. Department now expects that the financial services provider will earn $3.10 per share for the year, up from their prior forecast of $3.08. The consensus estimate for Charles Schwab’s current full-year earnings is $3.12 per share. Zacks Research also issued estimates for Charles Schwab’s Q4 2024 earnings at $0.86 EPS, Q1 2025 earnings at $0.87 EPS, Q2 2025 earnings at $0.93 EPS and Q1 2026 earnings at $1.09 EPS.

Other analysts also recently issued reports about the company. Citigroup lowered their price objective on Charles Schwab from $75.00 to $72.00 and set a “neutral” rating for the company in a research note on Friday, September 27th. Deutsche Bank Aktiengesellschaft raised their price objective on Charles Schwab from $77.00 to $80.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Piper Sandler increased their target price on shares of Charles Schwab from $64.00 to $65.00 and gave the company a “neutral” rating in a report on Wednesday, October 16th. Bank of America cut their price target on shares of Charles Schwab from $63.00 to $61.00 and set an “underperform” rating on the stock in a report on Wednesday, October 16th. Finally, Jefferies Financial Group increased their price objective on shares of Charles Schwab from $84.00 to $94.00 and gave the company a “buy” rating in a research note on Monday, December 9th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $80.50.

Charles Schwab Price Performance

Shares of NYSE SCHW opened at $74.31 on Monday. The stock has a market cap of $132.25 billion, a price-to-earnings ratio of 29.03, a PEG ratio of 1.76 and a beta of 0.96. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.47 and a current ratio of 0.47. Charles Schwab has a fifty-two week low of $59.67 and a fifty-two week high of $83.35. The firm’s 50-day simple moving average is $76.77 and its 200 day simple moving average is $70.57.

Charles Schwab (NYSE:SCHW) last released its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $0.77 earnings per share for the quarter, topping the consensus estimate of $0.75 by $0.02. The firm had revenue of $4.85 billion for the quarter, compared to the consensus estimate of $4.78 billion. Charles Schwab had a net margin of 27.47% and a return on equity of 16.92%. The business’s revenue was up 5.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.77 earnings per share.

Institutional Trading of Charles Schwab

Hedge funds and other institutional investors have recently bought and sold shares of the company. Signature Estate & Investment Advisors LLC bought a new stake in shares of Charles Schwab during the 2nd quarter valued at about $461,000. Atomi Financial Group Inc. lifted its position in Charles Schwab by 23.9% during the second quarter. Atomi Financial Group Inc. now owns 13,118 shares of the financial services provider’s stock valued at $967,000 after purchasing an additional 2,528 shares during the last quarter. AustralianSuper Pty Ltd grew its stake in Charles Schwab by 7.0% in the 2nd quarter. AustralianSuper Pty Ltd now owns 62,840 shares of the financial services provider’s stock worth $4,631,000 after buying an additional 4,105 shares in the last quarter. Patriot Financial Group Insurance Agency LLC increased its holdings in shares of Charles Schwab by 30.7% in the 2nd quarter. Patriot Financial Group Insurance Agency LLC now owns 43,266 shares of the financial services provider’s stock worth $3,188,000 after buying an additional 10,157 shares during the last quarter. Finally, LS Investment Advisors LLC raised its position in shares of Charles Schwab by 1.9% during the 2nd quarter. LS Investment Advisors LLC now owns 37,961 shares of the financial services provider’s stock valued at $2,797,000 after buying an additional 726 shares in the last quarter. Institutional investors own 84.38% of the company’s stock.

Insider Activity at Charles Schwab

In related news, insider Nigel J. Murtagh sold 12,739 shares of the business’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $81.17, for a total transaction of $1,034,024.63. Following the sale, the insider now directly owns 59,092 shares in the company, valued at approximately $4,796,497.64. The trade was a 17.73 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Jonathan S. Beatty sold 2,300 shares of the firm’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $82.01, for a total value of $188,623.00. Following the completion of the transaction, the insider now owns 18,069 shares of the company’s stock, valued at approximately $1,481,838.69. This represents a 11.29 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 118,968 shares of company stock worth $8,842,821. Company insiders own 6.60% of the company’s stock.

Charles Schwab Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Friday, November 8th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.35%. The ex-dividend date of this dividend was Friday, November 8th. Charles Schwab’s dividend payout ratio (DPR) is currently 39.06%.

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.