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

The Charles Schwab Co. (NYSE:SCHW) – Research analysts at William Blair raised their Q2 2024 earnings per share (EPS) estimates for shares of Charles Schwab in a report issued on Tuesday, April 16th. William Blair analyst J. Schmitt now expects that the financial services provider will earn $0.85 per share for the quarter, up from their previous forecast of $0.82. The consensus estimate for Charles Schwab’s current full-year earnings is $3.41 per share. William Blair also issued estimates for Charles Schwab’s Q3 2024 earnings at $0.90 EPS, Q4 2024 earnings at $0.96 EPS, FY2024 earnings at $3.45 EPS and Q3 2025 earnings at $1.08 EPS.

SCHW has been the subject of several other research reports. Barclays increased their price objective on shares of Charles Schwab from $74.00 to $75.00 and gave the company an “equal weight” rating in a report on Tuesday. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Charles Schwab from $75.00 to $77.00 and gave the stock a “buy” rating in a research report on Tuesday, March 19th. Raymond James reduced their price target on shares of Charles Schwab from $78.00 to $75.00 and set an “outperform” rating for the company in a research report on Thursday, January 18th. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $71.00 price objective (up previously from $70.00) on shares of Charles Schwab in a research note on Wednesday, January 3rd. Finally, TD Cowen upped their price objective on shares of Charles Schwab from $87.00 to $92.00 and gave the company a “buy” rating in a research note on Tuesday. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $74.47.

Charles Schwab Trading Up 0.6 %

NYSE:SCHW opened at $72.92 on Wednesday. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.43 and a quick ratio of 0.43. The firm has a market capitalization of $129.51 billion, a price-to-earnings ratio of 30.51, a price-to-earnings-growth ratio of 1.10 and a beta of 1.01. Charles Schwab has a one year low of $45.65 and a one year high of $73.88. The business has a fifty day moving average price of $68.38 and a 200-day moving average price of $62.89.

Charles Schwab (NYSE:SCHW) last posted its quarterly earnings data on Wednesday, January 17th. The financial services provider reported $0.68 EPS for the quarter, topping the consensus estimate of $0.64 by $0.04. The firm had revenue of $4.46 billion during the quarter, compared to analyst estimates of $4.49 billion. Charles Schwab had a return on equity of 19.86% and a net margin of 26.14%. Charles Schwab’s revenue was down 18.9% on a year-over-year basis. During the same period in the prior year, the business posted $1.07 EPS.

Institutional Trading of Charles Schwab

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Providence Capital Advisors LLC acquired a new stake in shares of Charles Schwab in the third quarter valued at about $28,000. Main Street Group LTD acquired a new stake in shares of Charles Schwab in the fourth quarter valued at about $29,000. Sugarloaf Wealth Management LLC raised its position in Charles Schwab by 60.0% during the fourth quarter. Sugarloaf Wealth Management LLC now owns 440 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 165 shares during the last quarter. Frazier Financial Advisors LLC acquired a new position in Charles Schwab during the fourth quarter worth about $30,000. Finally, Wetzel Investment Advisors Inc. acquired a new position in Charles Schwab during the fourth quarter worth about $31,000. Hedge funds and other institutional investors own 84.38% of the company’s stock.

Insiders Place Their Bets

In other news, COO Joseph R. Martinetto sold 43,000 shares of the firm’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 sale, the chief operating officer now directly owns 41,414 shares in the company, valued at approximately $2,933,353.62. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Charles Schwab news, CFO Peter B. Crawford sold 5,482 shares of the firm’s stock in a transaction on Thursday, April 18th. The shares were sold at an average price of $73.46, for a total transaction of $402,707.72. Following the transaction, the chief financial officer now directly owns 60,567 shares of the company’s stock, valued at approximately $4,449,251.82. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Joseph R. Martinetto sold 43,000 shares of Charles Schwab stock in a transaction dated Tuesday, April 16th. The shares were sold at an average price of $70.83, for a total transaction of $3,045,690.00. Following the completion of the sale, the chief operating officer now directly owns 41,414 shares in the company, valued at approximately $2,933,353.62. The disclosure for this sale can be found here. Insiders have sold a total of 312,800 shares of company stock worth $21,081,569 in the last ninety days. 6.60% of the stock is owned by corporate insiders.

Charles Schwab Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 23rd. Shareholders of record on Friday, February 9th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, February 8th. This represents a $1.00 dividend on an annualized basis and a yield of 1.37%. Charles Schwab’s dividend payout ratio (DPR) 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.