Charles Schwab (NYSE:SCHW) Trading Down 2.5% – Here’s What Happened

Shares of The Charles Schwab Co. (NYSE:SCHW) traded down 2.5% during mid-day trading on Thursday . The stock traded as low as $80.29 and last traded at $80.24. 3,809,560 shares traded hands during trading, a decline of 68% from the average session volume of 12,070,032 shares. The stock had previously closed at $82.28.

Analyst Ratings Changes

A number of research firms have issued reports on SCHW. Morgan Stanley raised their target price on Charles Schwab from $84.00 to $91.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 6th. JMP Securities reissued a “market outperform” rating and issued a $94.00 price target (up from $84.00) on shares of Charles Schwab in a report on Monday, December 9th. JPMorgan Chase & Co. boosted their price objective on Charles Schwab from $87.00 to $93.00 and gave the stock an “overweight” rating in a report on Tuesday, January 7th. Truist Financial upped their target price on shares of Charles Schwab from $90.00 to $91.00 and gave the stock a “buy” rating in a research report on Tuesday. Finally, Keefe, Bruyette & Woods lifted their price target on shares of Charles Schwab from $81.00 to $93.00 and gave the stock an “outperform” rating in a research note on Friday, December 20th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, Charles Schwab presently has an average rating of “Hold” and an average price target of $84.56.

Charles Schwab Stock Performance

The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.47 and a current ratio of 0.47. The company’s 50-day moving average price is $78.03 and its 200 day moving average price is $72.35. The stock has a market capitalization of $142.94 billion, a PE ratio of 26.86, a PEG ratio of 1.02 and a beta of 0.99.

Charles Schwab (NYSE:SCHW) last announced its quarterly earnings data on Tuesday, January 21st. The financial services provider reported $1.01 EPS for the quarter, beating the consensus estimate of $0.90 by $0.11. The business had revenue of $5.33 billion during the quarter, compared to analyst estimates of $5.19 billion. Charles Schwab had a return on equity of 18.20% and a net margin of 30.31%. The company’s revenue for the quarter was up 19.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.68 earnings per share. On average, equities research analysts expect that The Charles Schwab Co. will post 4.18 earnings per share for the current fiscal year.

Charles Schwab Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Friday, February 14th will be issued a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 1.34%. This is an increase from Charles Schwab’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Friday, February 14th. Charles Schwab’s payout ratio is 33.44%.

Insider Activity at Charles Schwab

In related news, General Counsel Peter J. Morgan III sold 14,643 shares of the company’s stock in a transaction on Wednesday, January 22nd. The stock was sold at an average price of $80.70, for a total transaction of $1,181,690.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jonathan S. Beatty sold 2,300 shares of the stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $82.01, for a total transaction of $188,623.00. Following the completion of the transaction, the insider now owns 18,069 shares in the company, valued at $1,481,838.69. This trade represents a 11.29 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 512,143 shares of company stock valued at $41,917,493. 6.60% of the stock is owned by insiders.

Institutional Investors Weigh In On Charles Schwab

Hedge funds have recently modified their holdings of the business. Capital Performance Advisors LLP bought a new stake in Charles Schwab during the 3rd quarter worth approximately $25,000. Washington Trust Advisors Inc. lifted its position in shares of Charles Schwab by 62.6% in the third quarter. Washington Trust Advisors Inc. now owns 387 shares of the financial services provider’s stock worth $25,000 after buying an additional 149 shares in the last quarter. Prospera Private Wealth LLC bought a new position in shares of Charles Schwab during the 3rd quarter valued at approximately $31,000. Planning Capital Management Corp bought a new position in Charles Schwab during the third quarter valued at $33,000. Finally, Murphy & Mullick Capital Management Corp bought a new position in shares of Charles Schwab in the 4th quarter valued at about $38,000. Institutional investors own 84.38% of the company’s stock.

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.