Charles Schwab (NYSE:SCHW) Hits New 12-Month High – Here’s Why

The Charles Schwab Co. (NYSE:SCHW)’s stock price reached a new 52-week high during trading on Wednesday . The stock traded as high as $82.66 and last traded at $82.63, with a volume of 394623 shares changing hands. The stock had previously closed at $82.25.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. Piper Sandler increased their target price on shares of Charles Schwab from $64.00 to $65.00 and gave the company a “neutral” rating in a research note on Wednesday, October 16th. Morgan Stanley lifted their target price on Charles Schwab from $68.00 to $74.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 24th. Cowen lifted their target price on Charles Schwab from $69.00 to $75.00 and gave the stock a “hold” rating in a research report on Tuesday, October 15th. Barclays lifted their target price on Charles Schwab from $64.00 to $74.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 16th. Finally, Keefe, Bruyette & Woods lifted their target price on Charles Schwab from $76.00 to $81.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $74.18.

Charles Schwab Stock Up 0.4 %

The business’s 50 day moving average price is $72.02 and its 200-day moving average price is $70.03. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.47 and a quick ratio of 0.47. The company has a market cap of $147.00 billion, a P/E ratio of 32.27, a PEG ratio of 1.79 and a beta of 0.96.

Charles Schwab (NYSE:SCHW) last posted its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $0.77 earnings per share for the quarter, topping the consensus estimate of $0.75 by $0.02. Charles Schwab had a net margin of 27.47% and a return on equity of 16.92%. The firm had revenue of $4.85 billion during the quarter, compared to analysts’ expectations of $4.78 billion. During the same quarter in the previous year, the company posted $0.77 EPS. Charles Schwab’s revenue was up 5.2% on a year-over-year basis. On average, analysts anticipate that The Charles Schwab Co. will post 3.12 earnings per share for the current fiscal year.

Charles Schwab Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Friday, November 8th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.21%. The ex-dividend date was Friday, November 8th. Charles Schwab’s dividend payout ratio (DPR) is presently 39.06%.

Insider Buying and Selling

In other Charles Schwab news, insider Jonathan S. Beatty sold 2,500 shares of Charles Schwab stock in a transaction on Monday, November 11th. The shares were sold at an average price of $77.02, for a total transaction of $192,550.00. Following the completion of the sale, the insider now owns 18,069 shares of the company’s stock, valued at approximately $1,391,674.38. The trade was a 12.15 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Charles R. Schwab sold 62,345 shares of Charles Schwab stock in a transaction on 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 of the company’s stock, valued at $4,396,116,784.92. This represents a 0.10 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 127,968 shares of company stock worth $9,419,271 in the last quarter. Insiders own 6.60% of the company’s stock.

Hedge Funds Weigh In On Charles Schwab

Several institutional investors and hedge funds have recently made changes to their positions in the company. State Street Corp grew its holdings in shares of Charles Schwab by 0.7% in the 3rd quarter. State Street Corp now owns 62,076,447 shares of the financial services provider’s stock valued at $4,023,175,000 after buying an additional 414,949 shares during the period. Geode Capital Management LLC grew its holdings in shares of Charles Schwab by 1.5% in the 3rd quarter. Geode Capital Management LLC now owns 30,141,441 shares of the financial services provider’s stock valued at $1,945,614,000 after buying an additional 445,304 shares during the period. Massachusetts Financial Services Co. MA grew its holdings in shares of Charles Schwab by 6.3% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 28,679,305 shares of the financial services provider’s stock valued at $1,858,706,000 after buying an additional 1,711,312 shares during the period. Franklin Resources Inc. grew its holdings in shares of Charles Schwab by 15.0% in the 3rd quarter. Franklin Resources Inc. now owns 24,261,234 shares of the financial services provider’s stock valued at $1,644,674,000 after buying an additional 3,157,923 shares during the period. Finally, Fisher Asset Management LLC boosted its stake in Charles Schwab by 2.5% in the 3rd quarter. Fisher Asset Management LLC now owns 20,189,558 shares of the financial services provider’s stock worth $1,308,485,000 after purchasing an additional 493,264 shares during the period. Institutional investors and hedge funds own 84.38% of the company’s stock.

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.