The Charles Schwab Corp. (SCHW) Chairman Charles R. Schwab Sells 16,000 Shares
The Charles Schwab Corp. (NYSE:SCHW) Chairman Charles R. Schwab sold 16,000 shares of the business’s stock in a transaction dated Tuesday, November 29th. The shares were sold at an average price of $38.51, for a total value of $616,160.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.
The Charles Schwab Corp. (NYSE:SCHW) last announced its quarterly earnings data on Monday, October 17th. The company reported $0.35 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.33 by $0.02. The Charles Schwab Corp. had a return on equity of 13.64% and a net margin of 24.77%. The firm had revenue of $1.91 billion for the quarter, compared to analysts’ expectations of $1.89 billion. During the same period last year, the firm earned $0.27 earnings per share. The company’s revenue for the quarter was up 19.8% compared to the same quarter last year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, November 28th. Stockholders of record on Monday, November 14th were paid a dividend of $0.07 per share. The ex-dividend date was Wednesday, November 9th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.73%. The Charles Schwab Corp.’s dividend payout ratio (DPR) is currently 22.95%.
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A number of research analysts have recently issued reports on the company. Jefferies Group reissued a “buy” rating on shares of The Charles Schwab Corp. in a research note on Friday, August 5th. Morgan Stanley began coverage on The Charles Schwab Corp. in a research report on Monday, September 26th. They issued an “overweight” rating and a $37.00 target price for the company. Barclays PLC boosted their target price on The Charles Schwab Corp. from $29.00 to $34.00 and gave the company an “overweight” rating in a research report on Tuesday, August 9th. Credit Suisse Group AG reaffirmed a “buy” rating on shares of The Charles Schwab Corp. in a research report on Monday, October 24th. Finally, Deutsche Bank AG boosted their target price on The Charles Schwab Corp. from $33.00 to $34.00 and gave the company a “buy” rating in a research report on Friday, September 9th. Two investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $33.69.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. West Coast Financial LLC boosted its position in shares of The Charles Schwab Corp. by 1.5% in the second quarter. West Coast Financial LLC now owns 92,571 shares of the company’s stock worth $2,343,000 after buying an additional 1,405 shares during the period. Bank of Montreal Can acquired a new stake in The Charles Schwab Corp. during the second quarter valued at about $30,353,000. CI Global Investments Inc. boosted its stake in The Charles Schwab Corp. by 203.3% in the second quarter. CI Global Investments Inc. now owns 530,846 shares of the company’s stock valued at $13,436,000 after buying an additional 355,846 shares during the last quarter. First Manhattan Co. boosted its stake in The Charles Schwab Corp. by 36.6% in the second quarter. First Manhattan Co. now owns 1,493,865 shares of the company’s stock valued at $37,809,000 after buying an additional 400,350 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in The Charles Schwab Corp. by 1.6% in the second quarter. Bank of New York Mellon Corp now owns 16,934,039 shares of the company’s stock valued at $428,601,000 after buying an additional 264,001 shares during the last quarter. 76.52% of the stock is currently owned by hedge funds and other institutional investors.
The Charles Schwab Corp. Company Profile
The Charles Schwab Corporation is a savings and loan holding company. The Company, through its subsidiaries, engages in wealth management, securities brokerage, banking, money management and financial advisory services. The Company provides financial services to individuals and institutional clients through two segments: Investor Services and Advisor Services.
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