Charles Schwab Co. (NYSE:SCHW) announced a quarterly dividend on Wednesday, October 23rd, Zacks reports. Stockholders of record on Friday, November 8th will be given a dividend of 0.17 per share by the financial services provider on Friday, November 22nd. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.57%. The ex-dividend date of this dividend is Thursday, November 7th.
NYSE SCHW opened at $43.22 on Tuesday. Charles Schwab has a 52-week low of $34.58 and a 52-week high of $49.24. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.31 and a current ratio of 0.31. The company has a market capitalization of $54.61 billion, a P/E ratio of 17.64, a P/E/G ratio of 2.63 and a beta of 1.32. The company has a fifty day moving average of $39.99 and a 200-day moving average of $41.20.
Charles Schwab (NYSE:SCHW) last posted its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.65 by $0.05. Charles Schwab had a net margin of 35.12% and a return on equity of 20.85%. The company had revenue of $2.71 billion during the quarter, compared to the consensus estimate of $2.65 billion. During the same period in the previous year, the firm posted $0.65 EPS. The firm’s revenue was up 5.1% compared to the same quarter last year. As a group, analysts forecast that Charles Schwab will post 2.73 EPS for the current fiscal year.
A number of analysts have recently issued reports on the stock. Credit Suisse Group dropped their price objective on shares of Charles Schwab from $55.00 to $49.00 and set an “outperform” rating for the company in a report on Tuesday, October 1st. Morgan Stanley boosted their price target on shares of Charles Schwab from $43.00 to $45.00 and gave the stock an “overweight” rating in a research note on Monday, October 21st. Citigroup boosted their price target on shares of Charles Schwab from $37.00 to $40.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 16th. Wolfe Research raised shares of Charles Schwab from a “peer perform” rating to an “outperform” rating and boosted their price target for the stock from $42.00 to $46.00 in a research note on Tuesday, September 3rd. Finally, Bank of America downgraded shares of Charles Schwab from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $49.00 to $43.00 in a research note on Friday, July 12th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have issued a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $44.38.
In other Charles Schwab news, EVP Jonathan M. Craig sold 3,740 shares of the business’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $38.97, for a total value of $145,747.80. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Stephen T. Mclin sold 5,093 shares of the business’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $37.56, for a total transaction of $191,293.08. Following the completion of the transaction, the director now owns 7,297 shares in the company, valued at approximately $274,075.32. The disclosure for this sale can be found here. Insiders sold 219,677 shares of company stock worth $8,993,241 in the last 90 days. Corporate insiders own 10.90% of the company’s stock.
About Charles Schwab
The Charles Schwab Corporation, through its subsidiaries, provides wealth management, securities brokerage, banking, asset management, custody, and financial advisory services. The company operates through two segments, Investor Services and Advisor Services. The Investor Services segment provides retail brokerage and banking services, retirement plan services, and other corporate brokerage services; equity compensation plan sponsors full-service recordkeeping for stock plans, stock options, restricted stock, performance shares, and stock appreciation rights; and retail investor, retirement plan, and mutual fund clearing services.
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