Charles Schwab (NYSE:SCHW) Sets New 12-Month High – Here’s What Happened

Shares of The Charles Schwab Corporation (NYSE:SCHW) hit a new 52-week high during trading on Tuesday . The stock traded as high as $109.32 and last traded at $107.95, with a volume of 6748893 shares. The stock had previously closed at $107.60.

Analyst Ratings Changes

SCHW has been the topic of a number of recent research reports. Wolfe Research reiterated an “outperform” rating and set a $127.00 price target on shares of Charles Schwab in a research note on Tuesday, July 21st. TD Cowen raised their price objective on shares of Charles Schwab from $108.00 to $109.00 and gave the stock a “buy” rating in a report on Friday, May 15th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Charles Schwab in a research report on Thursday, June 18th. Argus upped their target price on shares of Charles Schwab from $108.00 to $114.00 and gave the company a “buy” rating in a research note on Thursday, July 23rd. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of Charles Schwab in a research report on Wednesday, July 22nd. Two analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $121.17.

Charles Schwab Stock Up 1.5%

The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 0.48. The business has a 50-day simple moving average of $98.52 and a two-hundred day simple moving average of $95.73. The stock has a market capitalization of $188.98 billion, a P/E ratio of 19.87, a PEG ratio of 0.82 and a beta of 0.76.

Charles Schwab (NYSE:SCHW) last issued its quarterly earnings data on Tuesday, July 21st. The financial services provider reported $1.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.56 by $0.06. Charles Schwab had a return on equity of 24.73% and a net margin of 38.79%.The company had revenue of $7.07 billion during the quarter, compared to analysts’ expectations of $6.90 billion. During the same period last year, the business earned $1.14 earnings per share. The business’s revenue was up 20.9% on a year-over-year basis. Equities research analysts forecast that The Charles Schwab Corporation will post 6.46 earnings per share for the current fiscal year.

Charles Schwab Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 28th. Investors of record on Friday, August 14th will be issued a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend is Friday, August 14th. Charles Schwab’s dividend payout ratio (DPR) is currently 23.27%.

Insider Activity

In other news, insider Dennis Howard sold 28,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $105.01, for a total transaction of $2,940,280.00. Following the completion of the sale, the insider owned 10,470 shares of the company’s stock, valued at approximately $1,099,454.70. This trade represents a 72.78% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Chairman Walter W. Bettinger sold 192,488 shares of Charles Schwab stock in a transaction that occurred on Monday, July 27th. The shares were sold at an average price of $103.90, for a total transaction of $19,999,503.20. Following the completion of the transaction, the chairman owned 529,346 shares of the company’s stock, valued at $54,999,049.40. This trade represents a 26.67% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 395,786 shares of company stock worth $41,346,459 over the last ninety days. Corporate insiders own 6.30% of the company’s stock.

Institutional Investors Weigh In On Charles Schwab

Hedge funds and other institutional investors have recently bought and sold shares of the business. Geode Capital Management LLC increased its position in Charles Schwab by 0.3% in the 4th quarter. Geode Capital Management LLC now owns 37,667,640 shares of the financial services provider’s stock valued at $3,747,646,000 after acquiring an additional 98,242 shares in the last quarter. Juno Financial Group LLC acquired a new position in shares of Charles Schwab during the fourth quarter worth approximately $2,591,000. Swiss Life Asset Management Ltd grew its stake in shares of Charles Schwab by 4.2% during the fourth quarter. Swiss Life Asset Management Ltd now owns 407,179 shares of the financial services provider’s stock valued at $40,681,000 after purchasing an additional 16,482 shares during the last quarter. Busey Bank grew its stake in shares of Charles Schwab by 15.5% during the fourth quarter. Busey Bank now owns 258,962 shares of the financial services provider’s stock valued at $25,873,000 after purchasing an additional 34,745 shares during the last quarter. Finally, Directional Asset Management acquired a new stake in shares of Charles Schwab in the fourth quarter valued at approximately $1,409,000. 84.38% of the stock is owned by institutional investors and hedge funds.

About Charles Schwab

Charles Schwab Corporation (NYSE: SCHW) is a diversified financial services firm that provides brokerage, banking, wealth management and advisory services to individual investors, independent investment advisors and institutional clients. Its primary offerings include retail brokerage accounts, online trading platforms, Schwab-branded mutual funds and exchange-traded funds (ETFs), retirement plan services, custodial services for independent Registered Investment Advisors (RIAs), and banking products through Charles Schwab Bank.