Q3 2023 Earnings Estimate for The Charles Schwab Co. Issued By William Blair (NYSE:SCHW)

The Charles Schwab Co. (NYSE:SCHW – Get Rating) – Investment analysts at William Blair cut their Q3 2023 earnings per share estimates for Charles Schwab in a research note issued on Tuesday, May 23rd. William Blair analyst J. Schmitt now anticipates that the financial services provider will post earnings per share of $0.87 for the quarter, down from their previous estimate of $0.88. The consensus estimate for Charles Schwab’s current full-year earnings is $3.35 per share. William Blair also issued estimates for Charles Schwab’s Q4 2023 earnings at $0.98 EPS, FY2023 earnings at $3.63 EPS and FY2024 earnings at $4.61 EPS.

Charles Schwab (NYSE:SCHW – Get Rating) last announced its quarterly earnings results on Monday, April 17th. The financial services provider reported $0.93 earnings per share for the quarter, beating the consensus estimate of $0.90 by $0.03. The company had revenue of $5.12 billion during the quarter, compared to analysts’ expectations of $5.13 billion. Charles Schwab had a return on equity of 27.83% and a net margin of 34.82%. Charles Schwab’s quarterly revenue was up 9.5% on a year-over-year basis. During the same period last year, the business earned $0.77 earnings per share.

A number of other research firms have also recently commented on SCHW. Morgan Stanley cut Charles Schwab from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $99.00 to $68.00 in a research report on Thursday, March 30th. UBS Group cut their price objective on Charles Schwab from $70.00 to $65.00 in a research report on Tuesday, April 18th. Credit Suisse Group upgraded Charles Schwab from a “neutral” rating to an “outperform” rating and cut their price objective for the company from $81.50 to $67.50 in a research report on Wednesday, March 15th. Citigroup lowered their price target on Charles Schwab from $75.00 to $65.00 and set a “buy” rating on the stock in a research note on Wednesday, March 29th. Finally, Piper Sandler lowered their price target on Charles Schwab from $83.00 to $75.00 in a research note on Tuesday, April 18th. Two analysts have rated the stock with a sell rating, three have given a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $68.73.

Charles Schwab Stock Up 4.1 %

Charles Schwab stock opened at $54.24 on Wednesday. The stock has a market capitalization of $95.96 billion, a PE ratio of 14.82, a price-to-earnings-growth ratio of 2.71 and a beta of 0.88. Charles Schwab has a 12 month low of $45.00 and a 12 month high of $86.63. The business has a 50 day simple moving average of $51.85 and a 200-day simple moving average of $69.30. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.39 and a quick ratio of 0.39.

Charles Schwab Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 26th. Shareholders of record on Friday, May 12th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.84%. The ex-dividend date of this dividend is Thursday, May 11th. Charles Schwab’s dividend payout ratio (DPR) is currently 27.32%.

Insiders Place Their Bets

In other Charles Schwab news, President Richard A. Wurster purchased 2,000 shares of the firm’s stock in a transaction dated Friday, March 17th. The shares were acquired at an average price of $54.39 per share, with a total value of $108,780.00. Following the purchase, the president now directly owns 101,391 shares in the company, valued at approximately $5,514,656.49. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, insider Jonathan M. Craig sold 34,667 shares of the company’s stock in a transaction on Monday, March 6th. The stock was sold at an average price of $76.33, for a total value of $2,646,132.11. Following the transaction, the insider now owns 11,159 shares of the company’s stock, valued at approximately $851,766.47. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, President Richard A. Wurster purchased 2,000 shares of the firm’s stock in a transaction dated Friday, March 17th. The stock was acquired at an average cost of $54.39 per share, for a total transaction of $108,780.00. Following the purchase, the president now owns 101,391 shares in the company, valued at $5,514,656.49. The disclosure for this purchase can be found here. Over the last 90 days, insiders have purchased 81,000 shares of company stock valued at $4,706,960. Insiders own 6.60% of the company’s stock.

Institutional Investors Weigh In On Charles Schwab

Several institutional investors and hedge funds have recently modified their holdings of SCHW. Toronto Dominion Bank raised its holdings in shares of Charles Schwab by 32,224.4% in the 4th quarter. Toronto Dominion Bank now owns 225,994,826 shares of the financial services provider’s stock valued at $18,816,289,000 after buying an additional 225,295,680 shares during the period. Norges Bank purchased a new stake in Charles Schwab during the 4th quarter worth about $1,325,555,000. Fisher Asset Management LLC purchased a new stake in Charles Schwab during the 3rd quarter worth about $1,109,194,000. CIBC Private Wealth Group LLC increased its holdings in Charles Schwab by 107.1% during the 4th quarter. CIBC Private Wealth Group LLC now owns 16,784,516 shares of the financial services provider’s stock worth $1,399,817,000 after purchasing an additional 8,680,289 shares during the period. Finally, Morgan Stanley increased its holdings in Charles Schwab by 62.5% during the 4th quarter. Morgan Stanley now owns 22,255,649 shares of the financial services provider’s stock worth $1,853,005,000 after purchasing an additional 8,563,389 shares during the period. Hedge funds and other institutional investors own 73.49% of the company’s stock.

About Charles Schwab

(Get Rating)

The Charles Schwab Corp. is a savings and loan holding company, which engages in the provision of wealth management, securities brokerage, banking, asset management, custody, and financial advisory services. It operates through the Investor Services and Advisor Services segments. The Investor Services segment includes retail brokerage and banking services to individual investors, and retirement plan services, as well as other corporate brokerage services, to businesses and their employees.