The Charles Schwab Co. (SCHW) to Issue Quarterly Dividend of $0.25 on May 24th

The Charles Schwab Co. (NYSE:SCHW) announced a quarterly dividend on Wednesday, April 24th, RTT News reports. Shareholders of record on Friday, May 10th will be paid a dividend of 0.25 per share by the financial services provider on Friday, May 24th. This represents a $1.00 annualized dividend and a yield of 1.34%. The ex-dividend date is Thursday, May 9th.

Charles Schwab has raised its dividend payment by an average of 11.6% annually over the last three years and has raised its dividend every year for the last 2 years. Charles Schwab has a dividend payout ratio of 22.5% meaning its dividend is sufficiently covered by earnings. Analysts expect Charles Schwab to earn $4.50 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 22.2%.

Charles Schwab Stock Performance

Shares of SCHW stock opened at $74.86 on Friday. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.43 and a current ratio of 0.43. Charles Schwab has a fifty-two week low of $45.65 and a fifty-two week high of $75.55. The stock has a 50 day moving average price of $69.47 and a two-hundred day moving average price of $63.68. The company has a market capitalization of $132.96 billion, a P/E ratio of 31.32, a PEG ratio of 1.10 and a beta of 1.01.

Insider Transactions at Charles Schwab

In other news, Chairman Charles R. Schwab sold 89,275 shares of the company’s stock in a transaction on Monday, April 22nd. The stock was sold at an average price of $74.62, for a total transaction of $6,661,700.50. Following the transaction, the chairman now directly owns 30,641,981 shares of the company’s stock, valued at $2,286,504,622.22. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Charles Schwab news, Director Carolyn Schwab-Pomerantz sold 7,482 shares of the stock in a transaction dated Thursday, April 18th. The stock was sold at an average price of $73.47, for a total value of $549,702.54. Following the transaction, the director now owns 1,719,399 shares of the company’s stock, valued at $126,324,244.53. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Chairman Charles R. Schwab sold 89,275 shares of the stock in a transaction dated Monday, April 22nd. The shares were sold at an average price of $74.62, for a total value of $6,661,700.50. Following the completion of the transaction, the chairman now directly owns 30,641,981 shares in the company, valued at approximately $2,286,504,622.22. The disclosure for this sale can be found here. Over the last three months, insiders have sold 389,167 shares of company stock valued at $26,987,035. Insiders own 6.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on SCHW shares. Piper Sandler boosted their target price on Charles Schwab from $75.00 to $78.00 and gave the company an “overweight” rating in a research note on Friday, April 12th. Barclays boosted their target price on Charles Schwab from $74.00 to $75.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 16th. TD Cowen boosted their target price on Charles Schwab from $87.00 to $92.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. Citigroup boosted their target price on Charles Schwab from $70.00 to $75.00 and gave the company a “neutral” rating in a research note on Thursday, April 11th. Finally, Morgan Stanley upped their price target on Charles Schwab from $65.00 to $71.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 9th. Two analysts have rated the stock with a sell rating, six have given a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $74.47.

About Charles Schwab

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.