The Charles Schwab Co. (NYSE:SCHW) to Issue $0.25 Quarterly Dividend

The Charles Schwab Co. (NYSE:SCHW) declared a quarterly dividend on Wednesday, October 23rd, RTT News reports. Stockholders of record on Friday, November 8th will be given a dividend of 0.25 per share by the financial services provider on Friday, November 22nd. This represents a $1.00 annualized dividend and a dividend yield of 1.32%. The ex-dividend date is Friday, November 8th.

Charles Schwab has raised its dividend by an average of 11.6% per year over the last three years. Charles Schwab has a payout ratio of 26.2% meaning its dividend is sufficiently covered by earnings. Analysts expect Charles Schwab to earn $3.83 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 26.1%.

Charles Schwab Trading Up 6.2 %

NYSE:SCHW opened at $75.74 on Thursday. Charles Schwab has a 1-year low of $53.49 and a 1-year high of $79.49. The stock has a fifty day simple moving average of $66.90 and a 200 day simple moving average of $69.49. The firm has a market capitalization of $134.69 billion, a price-to-earnings ratio of 29.58, a price-to-earnings-growth ratio of 1.63 and a beta of 0.96. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 0.65.

Charles Schwab (NYSE:SCHW) last issued its earnings results on Tuesday, October 15th. The financial services provider reported $0.77 earnings per share for the quarter, beating analysts’ consensus estimates of $0.75 by $0.02. The company had revenue of $4.85 billion for the quarter, compared to the consensus estimate of $4.78 billion. Charles Schwab had a return on equity of 17.52% and a net margin of 27.47%. The firm’s quarterly revenue was up 5.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.77 EPS. Sell-side analysts forecast that Charles Schwab will post 3.11 earnings per share for the current year.

Analyst Ratings Changes

SCHW has been the subject of several recent analyst reports. Keefe, Bruyette & Woods upped their price target on Charles Schwab from $76.00 to $81.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. Barclays boosted their target price on shares of Charles Schwab from $64.00 to $74.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 16th. TD Cowen restated a “hold” rating and set a $71.00 price objective (down from $88.00) on shares of Charles Schwab in a research report on Wednesday, July 17th. StockNews.com upgraded Charles Schwab from a “sell” rating to a “hold” rating in a research note on Wednesday, October 16th. Finally, Jefferies Financial Group reduced their target price on Charles Schwab from $79.00 to $73.00 and set a “buy” rating on the stock in a report on Friday, October 4th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $73.94.

Insider Transactions at Charles Schwab

In other news, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the company’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $64.05, for a total transaction of $576,450.00. Following the completion of the transaction, the director now directly owns 554,929 shares of the company’s stock, valued at $35,543,202.45. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Charles Schwab news, Director Carolyn Schwab-Pomerantz sold 9,000 shares of Charles Schwab stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $64.05, for a total value of $576,450.00. Following the sale, the director now directly owns 554,929 shares in the company, valued at approximately $35,543,202.45. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Charles R. Schwab sold 62,345 shares of the business’s stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $72.52, for a total transaction of $4,521,259.40. Following the sale, the chairman now directly owns 60,619,371 shares in the company, valued at $4,396,116,784.92. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 113,465 shares of company stock valued at $8,050,109 over the last quarter. Corporate insiders own 6.60% of the company’s stock.

About Charles Schwab

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.