Charles Schwab Corp. major shareholder Sells $6,005,000 in Stock (SCHW)
Charles Schwab Corp. (NASDAQ:SCHW) major shareholder Charles R. Schwab sold 250,000 shares of the stock on the open market in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $24.02, for a total transaction of $6,005,000.00. Following the transaction, the insider now directly owns 1,325,250 shares in the company, valued at approximately $31,832,505. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Major shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.
Several analysts have recently commented on the stock. Analysts at Zacks reiterated a “neutral” rating on shares of Charles Schwab Corp. in a research note to investors on Friday, January 17th. They now have a $28.00 price target on the stock. Separately, analysts at UBS AG reiterated a “hold” rating on shares of Charles Schwab Corp. in a research note to investors on Friday, January 17th. They now have a $28.00 price target on the stock. Finally, analysts at Compass Point raised their price target on shares of Charles Schwab Corp. from $20.00 to $25.00 in a research note to investors on Friday, January 17th. They now have a “neutral” rating on the stock. Four research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and four have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $21.53.
Charles Schwab Corp. (NASDAQ:SCHW) traded down 0.87% on Wednesday, hitting $23.86. The stock had a trading volume of 11,444,305 shares. Charles Schwab Corp. has a 52 week low of $15.96 and a 52 week high of $27.11. The stock has a 50-day moving average of $25. and a 200-day moving average of $23.38. The company has a market cap of $30.761 billion and a P/E ratio of 30.86.
Charles Schwab Corp. (NASDAQ:SCHW) last announced its earnings results on Wednesday, January 15th. The company reported $0.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.21 by $0.02. The company had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.40 billion. During the same quarter in the prior year, the company posted $0.15 earnings per share. The company’s quarterly revenue was up 18.1% on a year-over-year basis. On average, analysts predict that Charles Schwab Corp. will post $0.95 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Friday, February 21st. Stockholders of record on Friday, February 7th will be paid a dividend of 0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 1.01%. The ex-dividend date is Wednesday, February 5th.
The Charles Schwab Corporation (NASDAQ:SCHW) is a savings and loan holding company.
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