Insider Selling: Charles Schwab Corp. CFO Unloads 34,972 Shares of Stock (SCHW)
Charles Schwab Corp. (NASDAQ:SCHW) CFO Joseph Martinetto unloaded 34,972 shares of the company’s stock on the open market in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $23.64, for a total value of $826,738.08. Following the sale, the chief financial officer now directly owns 74,615 shares of the company’s stock, valued at approximately $1,763,899. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.
A number of analysts have recently weighed in on SCHW shares. Analysts at Keefe, Bruyette & Woods reiterated a “sell” rating on shares of Charles Schwab Corp. in a research note to investors on Wednesday. They now have a $20.00 price target on the stock. Separately, analysts at Zacks reiterated a “neutral” rating on shares of Charles Schwab Corp. in a research note to investors on Wednesday. They now have a $24.00 price target on the stock. Finally, analysts at UBS AG raised their price target on shares of Charles Schwab Corp. from $21.00 to $23.00 in a research note to investors on Wednesday. They now have a “neutral” rating on the stock. They noted that the move was a valuation call. Four equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and seven have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $19.58.
Shares of Charles Schwab Corp. (NASDAQ:SCHW) traded up 0.13% on Friday, hitting $23.65. 4,302,021 shares of the company’s stock traded hands. Charles Schwab Corp. has a 52-week low of $12.47 and a 52-week high of $23.93. The stock has a 50-day moving average of $21.64 and a 200-day moving average of $20.26. The company has a market cap of $30.388 billion and a price-to-earnings ratio of 35.79.
Charles Schwab Corp. (NASDAQ:SCHW) last announced its earnings results on Tuesday, October 15th. The company reported $0.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.20 by $0.02. The company had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $1.34 billion. During the same quarter in the previous year, the company posted $0.19 earnings per share. The company’s revenue for the quarter was up 14.8% on a year-over-year basis. Analysts expect that Charles Schwab Corp. will post $0.75 EPS for the current fiscal year.
The Charles Schwab Corporation (NASDAQ:SCHW) is a savings and loan holding company.
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