In yesterday’s Wall Street session, The Charles Schwab Corporation (NYSE:SCHW) shares traded at $58.52, down -2.35% from the previous session.
As of this writing, 23 analysts cover The Charles Schwab Corporation (NYSE:SCHW). The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $85.00 and a low of $50.00, we find $68.00. Given the previous closing price of $59.93, this indicates a potential upside of 13.47 percent. SCHW stock price is now 9.58% away from the 50-day moving average and -13.29% away from the 200-day moving average. The market capitalization of the company currently stands at $109.07B.
There are 3 analysts who have given it a hold rating, whereas 15 have given it a buy rating. Brokers who have rated the stock have averaged $67.53 as their price target over the next twelve months.
With the price target maintained at $73, JMP Securities recently Upgraded its rating from Mkt Perform to Mkt Outperform for The Charles Schwab Corporation (NYSE: SCHW).
In other news, Schwab Charles R., Co-Chairman sold 77,640 shares of the company’s stock on May 22. The stock was sold for $4,018,584 at an average price of $51.76. Upon completion of the transaction, the Co-Chairman now directly owns 59,771,278 shares in the company, valued at $3.5 billion. An SEC document containing details of the transaction can be found on the SEC’s website. On Mar 28, Director Brown Marianne Catherine bought 5,000 shares of the business’s stock. A total of $267,340 was incurred on buying the stock at an average price of $53.47. This leaves the insider owning 9,984 shares of the company worth $0.58 million. Insiders disposed of 11,408,542 shares of company stock worth roughly $667.63 million over the past 1 year. A total of 6.34% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in SCHW stock. A new stake in The Charles Schwab Corporation shares was purchased by OFI INVEST ASSET MANAGEMENT during the first quarter worth $893,991,000. HS MANAGEMENT PARTNERS, LLC invested $141,876,000 in shares of SCHW during the first quarter. In the first quarter, ARROWSTREET CAPITAL, LIMITED PARTNERSHIP acquired a new stake in The Charles Schwab Corporation valued at approximately $123,741,000. HOLOCENE ADVISORS, LP acquired a new stake in SCHW for approximately $121,083,000. EMINENCE CAPITAL, LP purchased a new stake in SCHW valued at around $118,120,000 in the second quarter. In total, there are 2,128 active investors with 88.50% ownership of the company’s stock.
Friday morning saw The Charles Schwab Corporation (NYSE: SCHW) opened at $60.26. During the past 12 months, The Charles Schwab Corporation has had a low of $45.00 and a high of $86.63. The fifty day moving average price for SCHW is $53.57 and a two-hundred day moving average price translates $67.43 for the stock.
The latest earnings results from The Charles Schwab Corporation (NYSE: SCHW) was released for Mar, 2023. According to the Capital Markets Company, earnings per share came in at $0.93, beating analysts’ expectations of $0.9 by 0.03. This compares to $0.67 EPS in the same period last year. The net profit margin was 28.90% and return on equity was 24.00% for SCHW. The company reported revenue of $5.12 billion for the quarter, compared to $4.67 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 9.5 percent. For the current quarter, analysts expect SCHW to generate $4.61B in revenue.
Moreover, the firm recently paid out its quarterly dividend on 05/26/2023. Investors who held shares on 05/12/2023 were paid a $0.25 dividend. On an annualized basis, this represents a $1.00 dividend and a 1.71% percent yield. There was an ex-dividend date of 05/11/2023 for this dividend. In terms of dividend payout ratio, SCHW is presently at 24.20%.
The Charles Schwab Corporation(SCHW) 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. The company operates in two segments, Investor Services and Advisor Services. It offers brokerage accounts with equity and fixed income trading, margin lending, options trading, futures and forex trading, and cash management capabilities, including certificates of deposit; third-party mutual funds through the Mutual Fund Marketplace and Mutual Fund OneSource service, as well as mutual fund trading and clearing services to broker-dealers; exchange-traded funds; advisory solutions for managed portfolios, separately managed accounts, customized personal advice for tailored portfolios, specialized planning, and full-time portfolio management; banking products comprising checking and savings accounts, first lien residential real estate mortgage loans, home equity lines of credit, and pledged asset lines; and trust custody services, personal trust reporting services, and administrative trustee services. It also provides digital retirement calculators; integrated web-, mobile-, and software-based trading platforms, real-time market data, options trading, premium research, and multi-channel access; self-service education and support tools; online research and analysis tools; equity compensation plan sponsors full-service recordkeeping for stock plans, stock options, restricted stock, performance shares, and stock appreciation rights; and retirement plan services. The Company operates domestic branch offices in 48 states and the District of Columbia, as well as locations in Puerto Rico, the United Kingdom, Hong Kong, and Singapore. The Charles Schwab Corporation was founded in 1971 and is headquartered in Westlake, Texas.
