William Blair Analysts Decrease Earnings Estimates for The Charles Schwab Co. (NYSE:SCHW)

The Charles Schwab Co. (NYSE:SCHW) – Investment analysts at William Blair decreased their Q2 2024 EPS estimates for Charles Schwab in a report issued on Wednesday, July 10th. William Blair analyst J. Schmitt now expects that the financial services provider will earn $0.72 per share for the quarter, down from their prior forecast of $0.76. The consensus estimate for Charles Schwab’s current full-year earnings is $3.21 per share. William Blair also issued estimates for Charles Schwab’s Q3 2024 earnings at $0.83 EPS, Q4 2024 earnings at $0.88 EPS, FY2024 earnings at $3.18 EPS and FY2025 earnings at $4.25 EPS.

Other equities analysts have also issued research reports about the stock. Bank of America lifted their price target on shares of Charles Schwab from $68.00 to $70.00 and gave the stock an “underperform” rating in a report on Tuesday, April 16th. TD Cowen lowered their price objective on Charles Schwab from $92.00 to $88.00 and set a “buy” rating for the company in a research report on Thursday, May 23rd. Keefe, Bruyette & Woods upgraded Charles Schwab from a “market perform” rating to an “outperform” rating and upped their target price for the company from $76.00 to $84.00 in a report on Monday, July 8th. Deutsche Bank Aktiengesellschaft lowered their price target on shares of Charles Schwab from $86.00 to $83.00 and set a “buy” rating for the company in a report on Thursday, May 23rd. Finally, Piper Sandler upped their price objective on shares of Charles Schwab from $75.00 to $78.00 and gave the company an “overweight” rating in a research note on Friday, April 12th. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $77.75.

Charles Schwab Trading Down 0.9 %

Shares of SCHW stock opened at $75.38 on Thursday. Charles Schwab has a twelve month low of $48.66 and a twelve month high of $79.49. The stock’s fifty day simple moving average is $74.30 and its 200 day simple moving average is $70.18. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 0.69. The firm has a market capitalization of $133.97 billion, a P/E ratio of 31.54, a P/E/G ratio of 1.17 and a beta of 0.99.

Charles Schwab (NYSE:SCHW) last posted its quarterly earnings results on Monday, April 15th. The financial services provider reported $0.74 earnings per share for the quarter, beating analysts’ consensus estimates of $0.73 by $0.01. The company had revenue of $4.74 billion for the quarter, compared to the consensus estimate of $4.71 billion. Charles Schwab had a net margin of 26.14% and a return on equity of 19.25%.

Institutional Trading of Charles Schwab

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Country Trust Bank purchased a new stake in Charles Schwab during the 2nd quarter valued at about $26,000. Fortitude Family Office LLC increased its position in shares of Charles Schwab by 97.5% during the second quarter. Fortitude Family Office LLC now owns 389 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 192 shares in the last quarter. Tributary Capital Management LLC purchased a new position in Charles Schwab in the 1st quarter worth approximately $31,000. Sugarloaf Wealth Management LLC lifted its position in Charles Schwab by 60.0% in the 4th quarter. Sugarloaf Wealth Management LLC now owns 440 shares of the financial services provider’s stock valued at $30,000 after acquiring an additional 165 shares in the last quarter. Finally, Frazier Financial Advisors LLC purchased a new stake in Charles Schwab during the 4th quarter valued at $30,000. 84.38% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Charles Schwab

In other Charles Schwab news, Chairman Charles R. Schwab sold 89,275 shares of the firm’s stock in a transaction on Monday, April 22nd. The shares were sold at an average price of $74.62, for a total value of $6,661,700.50. Following the completion of the transaction, the chairman now directly owns 30,641,981 shares of the company’s stock, valued at approximately $2,286,504,622.22. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, COO Joseph R. Martinetto sold 43,000 shares of the company’s stock in a transaction on Tuesday, April 16th. The shares were sold at an average price of $70.83, for a total value of $3,045,690.00. Following the completion of the sale, the chief operating officer now owns 41,414 shares of the company’s stock, valued at approximately $2,933,353.62. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Charles R. Schwab sold 89,275 shares of the stock in a transaction dated Monday, April 22nd. The shares were sold at an average price of $74.62, for a total value of $6,661,700.50. Following the sale, the chairman now owns 30,641,981 shares of the company’s stock, valued at $2,286,504,622.22. The disclosure for this sale can be found here. Insiders have sold a total of 658,663 shares of company stock valued at $48,997,146 over the last three months. 6.60% of the stock is currently owned by insiders.

Charles Schwab Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, May 24th. Shareholders of record on Friday, May 10th were paid a $0.25 dividend. The ex-dividend date was Thursday, May 9th. This represents a $1.00 annualized dividend and a dividend yield of 1.33%. Charles Schwab’s payout ratio is presently 41.84%.

Charles Schwab Company Profile

The Charles Schwab Corporation, together with its subsidiaries, operates as a savings and loan holding company that provides wealth management, securities brokerage, banking, asset management, custody, and financial advisory services in the United States and internationally. The company operates in two segments, Investor Services and Advisor Services.