Charles Schwab Corp (NYSE:SCHW) – Equities researchers at SunTrust Banks increased their Q1 2018 EPS estimates for Charles Schwab in a report issued on Wednesday. SunTrust Banks analyst D. Mewhirter now forecasts that the financial services provider will earn $0.57 per share for the quarter, up from their prior estimate of $0.54. SunTrust Banks has a “Buy” rating on the stock. SunTrust Banks also issued estimates for Charles Schwab’s Q4 2018 earnings at $0.64 EPS, FY2018 earnings at $2.42 EPS, Q1 2019 earnings at $0.68 EPS and FY2019 earnings at $2.87 EPS.
Other equities analysts have also recently issued reports about the company. Credit Suisse Group decreased their target price on Charles Schwab from $70.00 to $69.00 and set an “outperform” rating on the stock in a report on Wednesday, February 7th. Citigroup cut Charles Schwab from a “neutral” rating to a “sell” rating and set a $49.00 target price on the stock. in a report on Wednesday, February 7th. Morgan Stanley raised their target price on Charles Schwab from $61.00 to $63.00 and gave the stock an “overweight” rating in a report on Tuesday, January 30th. Nomura reaffirmed a “neutral” rating and issued a $54.00 target price (up from $50.00) on shares of Charles Schwab in a report on Thursday, January 18th. Finally, JMP Securities lowered Charles Schwab from an “outperform” rating to a “market perform” rating in a research note on Wednesday, January 3rd. One research analyst has rated the stock with a sell rating, six have issued a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Buy” and an average target price of $53.88.
Charles Schwab (NYSE:SCHW) last announced its earnings results on Wednesday, January 17th. The financial services provider reported $0.44 EPS for the quarter, topping the Zacks’ 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 company had revenue of $2.24 billion for the quarter, compared to analysts’ expectations of $2.24 billion. During the same period last year, the firm earned $0.36 EPS. Charles Schwab’s revenue for the quarter was up 13.7% compared to the same quarter last year.
Several institutional investors have recently modified their holdings of the company. Castleark Management LLC grew its position in shares of Charles Schwab by 10.2% during the fourth quarter. Castleark Management LLC now owns 1,093,353 shares of the financial services provider’s stock valued at $56,166,000 after purchasing an additional 101,026 shares in the last quarter. Macquarie Group Ltd. grew its position in shares of Charles Schwab by 6.3% during the fourth quarter. Macquarie Group Ltd. now owns 3,681,877 shares of the financial services provider’s stock valued at $189,658,000 after purchasing an additional 219,635 shares in the last quarter. EP Wealth Advisors LLC lifted its holdings in shares of Charles Schwab by 1.4% in the 4th quarter. EP Wealth Advisors LLC now owns 208,306 shares of the financial services provider’s stock valued at $10,701,000 after acquiring an additional 2,871 shares during the last quarter. Laurel Wealth Advisors Inc. lifted its holdings in shares of Charles Schwab by 12.7% in the 4th quarter. Laurel Wealth Advisors Inc. now owns 8,855 shares of the financial services provider’s stock valued at $454,000 after acquiring an additional 996 shares during the last quarter. Finally, Hoylecohen LLC bought a new position in shares of Charles Schwab in the 4th quarter valued at about $959,000. Hedge funds and other institutional investors own 79.47% of the company’s stock.
In other news, EVP Terri R. Kallsen sold 2,026 shares of the firm’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $51.94, for a total transaction of $105,230.44. Following the completion of the transaction, the executive vice president now owns 1,706 shares in the company, valued at $88,609.64. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Bernard J. Clark sold 50,444 shares of the firm’s stock in a transaction dated Monday, December 4th. The shares were sold at an average price of $50.52, for a total value of $2,548,430.88. The disclosure for this sale can be found here. Insiders sold a total of 1,658,944 shares of company stock valued at $85,578,020 in the last quarter. 12.00% of the stock is currently owned by company insiders.
The firm also recently declared a quarterly dividend, which will be paid on Friday, February 23rd. Shareholders of record on Friday, February 9th will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 0.76%. The ex-dividend date of this dividend is Thursday, February 8th. This is a positive change from Charles Schwab’s previous quarterly dividend of $0.08. Charles Schwab’s dividend payout ratio is presently 24.84%.
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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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