Charles Schwab Corp (NYSE:SCHW) – Investment analysts at William Blair increased their Q4 2018 earnings per share (EPS) estimates for Charles Schwab in a research note issued on Wednesday. William Blair analyst C. Shutler now expects that the financial services provider will post earnings of $0.65 per share for the quarter, up from their previous forecast of $0.63. William Blair also issued estimates for Charles Schwab’s FY2019 earnings at $2.68 EPS.
SCHW has been the subject of a number of other reports. Credit Suisse Group reaffirmed a “positive” rating and issued a $70.00 target price (up from $64.00) on shares of Charles Schwab in a research note on Thursday. Citigroup reaffirmed a “neutral” rating on shares of Charles Schwab in a research note on Friday. Nomura reaffirmed a “neutral” rating and issued a $54.00 target price (up from $50.00) on shares of Charles Schwab in a research note on Thursday. Argus raised their target price on Charles Schwab from $59.00 to $69.00 and gave the stock a “buy” rating in a research note on Thursday. Finally, BidaskClub raised Charles Schwab from a “hold” rating to a “buy” rating in a research note on Tuesday, September 26th. Seven investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Charles Schwab has a consensus rating of “Buy” and an average target price of $54.00.
Charles Schwab (NYSE:SCHW) last posted its quarterly earnings data on Wednesday, January 17th. The financial services provider reported $0.44 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.41 by $0.03. Charles Schwab had a return on equity of 16.31% and a net margin of 27.32%. The firm had revenue of $2.24 billion during the quarter, compared to the consensus estimate of $2.24 billion. During the same period in the prior year, the company earned $0.36 EPS. The firm’s revenue was up 13.7% compared to the same quarter last year.
Several large investors have recently modified their holdings of SCHW. Capital Research Global Investors increased its position in shares of Charles Schwab by 86.3% during the 2nd quarter. Capital Research Global Investors now owns 24,237,199 shares of the financial services provider’s stock worth $1,041,230,000 after purchasing an additional 11,224,199 shares during the last quarter. Janus Henderson Group PLC boosted its holdings in Charles Schwab by 1,766.9% during the 2nd quarter. Janus Henderson Group PLC now owns 9,357,736 shares of the financial services provider’s stock valued at $402,011,000 after acquiring an additional 8,856,483 shares during the period. FMR LLC boosted its holdings in Charles Schwab by 11.3% during the 2nd quarter. FMR LLC now owns 30,766,004 shares of the financial services provider’s stock valued at $1,321,708,000 after acquiring an additional 3,128,532 shares during the period. Vanguard Group Inc. boosted its holdings in Charles Schwab by 3.2% during the 2nd quarter. Vanguard Group Inc. now owns 81,925,586 shares of the financial services provider’s stock valued at $3,519,523,000 after acquiring an additional 2,536,947 shares during the period. Finally, Amundi Pioneer Asset Management Inc. boosted its holdings in Charles Schwab by 90.2% during the 3rd quarter. Amundi Pioneer Asset Management Inc. now owns 4,887,840 shares of the financial services provider’s stock valued at $213,794,000 after acquiring an additional 2,318,498 shares during the period. 79.59% of the stock is owned by hedge funds and other institutional investors.
In other Charles Schwab news, insider Walter W. Bettinger acquired 72,510 shares of the business’s stock in a transaction that occurred on Tuesday, November 7th. The stock was purchased at an average cost of $27.21 per share, with a total value of $1,972,997.10. Following the transaction, the insider now owns 41,330 shares of the company’s stock, valued at $1,124,589.30. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Terri R. Kallsen sold 815 shares of the firm’s stock in a transaction dated Wednesday, November 8th. The stock was sold at an average price of $43.97, for a total value of $35,835.55. The disclosure for this sale can be found here. Insiders have sold a total of 1,958,531 shares of company stock valued at $93,990,901 over the last three months. Corporate insiders own 12.00% of the company’s stock.
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About Charles Schwab
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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