Charles Schwab (NYSE:SCHW) Hits New 1-Year High – Should You Buy?
by Teresa Graham · The Cerbat GemShares of The Charles Schwab Corporation (NYSE:SCHW – Get Free Report) reached a new 52-week high on Monday . The company traded as high as $104.12 and last traded at $104.1050, with a volume of 980823 shares trading hands. The stock had previously closed at $101.57.
Analyst Ratings Changes
SCHW has been the topic of a number of recent analyst reports. UBS Group began coverage on Charles Schwab in a research note on Thursday, December 11th. They issued a “buy” rating and a $119.00 price objective on the stock. Deutsche Bank Aktiengesellschaft upped their price target on shares of Charles Schwab from $119.00 to $120.00 and gave the stock a “buy” rating in a research report on Friday, October 17th. Truist Financial raised their price objective on shares of Charles Schwab from $113.00 to $120.00 and gave the company a “buy” rating in a research report on Wednesday. TD Cowen upped their target price on shares of Charles Schwab from $129.00 to $134.00 and gave the stock a “buy” rating in a research report on Friday, October 17th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Charles Schwab in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, five have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $110.00.
Get Our Latest Stock Analysis on SCHW
Charles Schwab Stock Down 0.2%
The firm’s 50 day moving average price is $95.93 and its 200-day moving average price is $94.88. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 0.47. The company has a market cap of $184.02 billion, a P/E ratio of 24.25, a price-to-earnings-growth ratio of 0.73 and a beta of 0.94.
Charles Schwab (NYSE:SCHW – Get Free Report) last announced its quarterly earnings data on Thursday, October 16th. The financial services provider reported $1.31 earnings per share for the quarter, beating the consensus estimate of $1.25 by $0.06. Charles Schwab had a net margin of 35.93% and a return on equity of 21.02%. The business had revenue of $6.38 billion for the quarter, compared to analyst estimates of $5.93 billion. During the same period in the prior year, the business posted $0.71 earnings per share. Charles Schwab’s revenue was up 26.6% compared to the same quarter last year. As a group, equities research analysts expect that The Charles Schwab Corporation will post 4.22 EPS for the current year.
Charles Schwab Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, November 28th. Stockholders of record on Friday, November 14th were paid a $0.27 dividend. The ex-dividend date of this dividend was Friday, November 14th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.0%. Charles Schwab’s dividend payout ratio is 25.29%.
Insider Activity at Charles Schwab
In related news, insider Jonathan S. Beatty sold 2,000 shares of Charles Schwab stock in a transaction on Tuesday, December 23rd. The stock was sold at an average price of $102.01, for a total transaction of $204,020.00. Following the completion of the sale, the insider directly owned 11,923 shares of the company’s stock, valued at $1,216,265.23. The trade was a 14.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 6.30% of the stock is currently owned by company insiders.
Hedge Funds Weigh In On Charles Schwab
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Princeton Global Asset Management LLC bought a new position in Charles Schwab during the 2nd quarter worth approximately $25,000. GoalVest Advisory LLC acquired a new stake in Charles Schwab in the fourth quarter worth $28,000. RMG Wealth Management LLC bought a new position in shares of Charles Schwab during the second quarter worth $27,000. West Branch Capital LLC acquired a new position in shares of Charles Schwab in the 3rd quarter valued at $27,000. Finally, Mid American Wealth Advisory Group Inc. bought a new stake in shares of Charles Schwab in the 2nd quarter valued at $32,000. Institutional investors own 84.38% of the company’s stock.
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.