William Blair Analysts Increase Earnings Estimates for Charles Schwab Corp (SCHW)
Charles Schwab Corp (NYSE:SCHW) – William Blair lifted their Q1 2018 earnings per share estimates for Charles Schwab in a report released on Wednesday. William Blair analyst C. Shutler now expects that the financial services provider will post earnings of $0.51 per share for the quarter, up from their previous estimate of $0.41. William Blair also issued estimates for Charles Schwab’s Q2 2018 earnings at $0.59 EPS, Q3 2018 earnings at $0.62 EPS, Q4 2018 earnings at $0.63 EPS, FY2018 earnings at $2.36 EPS and FY2019 earnings at $2.67 EPS.
A number of other research analysts also recently issued reports on the company. Deutsche Bank raised their price target on Charles Schwab from $46.00 to $47.00 and gave the stock a “hold” rating in a research note on Wednesday, October 25th. Credit Suisse Group initiated coverage on Charles Schwab in a research note on Thursday, November 30th. They set an “outperform” rating and a $55.00 price target on the stock. SunTrust Banks raised their price target on Charles Schwab to $56.00 and gave the stock an “average” rating in a research note on Friday, December 15th. They noted that the move was a valuation call. Morgan Stanley raised their price target on Charles Schwab from $51.00 to $53.00 and gave the stock an “overweight” rating in a research note on Thursday, October 5th. Finally, BidaskClub upgraded Charles Schwab from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, October 10th. Six analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. Charles Schwab has an average rating of “Buy” and a consensus price target of $51.81.
Charles Schwab (NYSE:SCHW) last released its quarterly earnings results on Wednesday, October 18th. The financial services provider reported $0.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.41 by $0.01. The firm had revenue of $2.17 billion for the quarter, compared to the consensus estimate of $2.18 billion. Charles Schwab had a return on equity of 15.77% and a net margin of 27.30%. The firm’s quarterly revenue was up 13.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.35 EPS.
In other news, insider Marie A. Chandoha sold 7,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 26th. The stock was sold at an average price of $45.59, for a total value of $319,130.00. 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 350,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 16th. The shares were sold at an average price of $44.65, for a total value of $15,627,500.00. The disclosure for this sale can be found here. Insiders have sold a total of 1,658,531 shares of company stock valued at $77,397,901 over the last ninety days. 12.00% of the stock is owned by insiders.
Institutional investors and hedge funds have recently bought and sold shares of the company. Cubist Systematic Strategies LLC lifted its holdings in shares of Charles Schwab by 317.6% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 51,701 shares of the financial services provider’s stock valued at $2,221,000 after buying an additional 39,321 shares during the period. CIBC World Markets Inc. acquired a new stake in shares of Charles Schwab in the 2nd quarter valued at approximately $282,000. CAPROCK Group Inc. lifted its holdings in shares of Charles Schwab by 22.3% in the 3rd quarter. CAPROCK Group Inc. now owns 6,532 shares of the financial services provider’s stock valued at $286,000 after buying an additional 1,190 shares during the period. Northern Trust Corp lifted its holdings in shares of Charles Schwab by 8.8% in the 2nd quarter. Northern Trust Corp now owns 16,795,035 shares of the financial services provider’s stock valued at $721,515,000 after buying an additional 1,361,516 shares during the period. Finally, Sentry Investment Management LLC lifted its holdings in shares of Charles Schwab by 11.6% in the 2nd quarter. Sentry Investment Management LLC now owns 96,298 shares of the financial services provider’s stock valued at $4,137,000 after buying an additional 9,971 shares during the period. 79.54% of the stock is owned by institutional investors and hedge funds.
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Charles Schwab Company Profile
The Charles Schwab Corporation (CSC) is a savings and loan holding company. The Company, through its subsidiaries, engages in wealth management, securities brokerage, banking, money management and financial advisory services. The Company provides financial services to individuals and institutional clients through two segments: Investor Services and Advisor Services.
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