Charles Schwab Co. (NYSE:SCHW) – Analysts at Piper Sandler lowered their Q3 2020 earnings per share estimates for shares of Charles Schwab in a note issued to investors on Tuesday, September 15th. Piper Sandler analyst R. Repetto now forecasts that the financial services provider will post earnings of $0.46 per share for the quarter, down from their prior forecast of $0.50. Piper Sandler also issued estimates for Charles Schwab’s Q4 2020 earnings at $0.44 EPS, Q1 2021 earnings at $0.42 EPS, Q2 2021 earnings at $0.43 EPS, Q3 2021 earnings at $0.45 EPS and FY2021 earnings at $1.71 EPS.
Charles Schwab (NYSE:SCHW) last issued its earnings results on Thursday, July 16th. The financial services provider reported $0.54 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.53 by $0.01. The business had revenue of $2.45 billion for the quarter, compared to the consensus estimate of $2.48 billion. Charles Schwab had a net margin of 31.48% and a return on equity of 15.86%. The firm’s revenue for the quarter was down 8.6% on a year-over-year basis. During the same period in the previous year, the company earned $0.66 earnings per share.
Shares of SCHW opened at $35.73 on Wednesday. The company has a market cap of $46.04 billion, a price-to-earnings ratio of 15.01 and a beta of 1.17. Charles Schwab has a 1-year low of $28.00 and a 1-year high of $51.65. The company’s fifty day simple moving average is $34.85 and its 200 day simple moving average is $35.06. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.33.
A number of institutional investors and hedge funds have recently bought and sold shares of SCHW. First Trust Advisors LP bought a new stake in Charles Schwab during the first quarter worth about $1,805,000. Dynamic Advisor Solutions LLC lifted its position in Charles Schwab by 23.4% during the first quarter. Dynamic Advisor Solutions LLC now owns 16,182 shares of the financial services provider’s stock worth $544,000 after purchasing an additional 3,065 shares during the period. Oppenheimer & Co. Inc. lifted its position in Charles Schwab by 40.8% during the first quarter. Oppenheimer & Co. Inc. now owns 165,139 shares of the financial services provider’s stock worth $5,552,000 after purchasing an additional 47,834 shares during the period. Mackay Shields LLC lifted its position in Charles Schwab by 2.6% during the first quarter. Mackay Shields LLC now owns 210,415 shares of the financial services provider’s stock worth $7,074,000 after purchasing an additional 5,374 shares during the period. Finally, Cetera Investment Advisers lifted its holdings in shares of Charles Schwab by 3.2% in the first quarter. Cetera Investment Advisers now owns 26,730 shares of the financial services provider’s stock worth $899,000 after acquiring an additional 820 shares during the last quarter. 85.31% of the stock is owned by institutional investors and hedge funds.
In related news, Chairman Charles R. Schwab sold 200,000 shares of the company’s stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $34.11, for a total value of $6,822,000.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Charles A. Ruffel purchased 2,854 shares of the firm’s stock in a transaction that occurred on Wednesday, July 22nd. The stock was acquired at an average price of $34.91 per share, for a total transaction of $99,633.14. Following the completion of the purchase, the director now directly owns 7,751 shares of the company’s stock, valued at approximately $270,587.41. The disclosure for this purchase can be found here. Corporate insiders own 10.80% of the company’s stock.
The firm also recently declared a quarterly dividend, which was paid on Friday, August 28th. Investors of record on Friday, August 7th were paid a $0.18 dividend. The ex-dividend date was Thursday, August 6th. This represents a $0.72 annualized dividend and a dividend yield of 2.02%. Charles Schwab’s dividend payout ratio (DPR) is presently 26.47%.
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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