Charles Schwab (NYSE:SCHW) Reaches New 52-Week High – Here’s What Happened

The Charles Schwab Corporation (NYSE:SCHW)’s stock price hit a new 52-week high during mid-day trading 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.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on SCHW shares. Truist Financial increased their target price on shares of Charles Schwab from $112.00 to $113.00 and gave the company a “buy” rating in a research report on Friday, October 17th. UBS Group started coverage on Charles Schwab in a report on Thursday, December 11th. They set a “buy” rating and a $119.00 price objective for the company. Weiss Ratings reissued a “hold (c+)” rating on shares of Charles Schwab in a research report on Wednesday, October 8th. Morgan Stanley upped their price target on Charles Schwab from $139.00 to $148.00 and gave the company an “overweight” rating in a research report on Monday, December 22nd. Finally, JMP Securities reissued a “market outperform” rating and issued a $110.00 price objective on shares of Charles Schwab in a report on Friday, October 17th. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $108.84.

Charles Schwab Trading Up 2.3%

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 capitalization of $184.61 billion, a PE ratio of 24.31, a PEG ratio of 0.71 and a beta of 0.94. The stock has a fifty day moving average of $95.56 and a two-hundred day moving average of $94.69.

Charles Schwab (NYSE:SCHW) last announced its quarterly earnings data on Thursday, October 16th. The financial services provider reported $1.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.25 by $0.06. Charles Schwab had a return on equity of 21.02% and a net margin of 35.93%.The firm had revenue of $6.38 billion for the quarter, compared to analysts’ expectations of $5.93 billion. During the same period last year, the firm earned $0.71 earnings per share. The company’s revenue for the quarter was up 26.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that The Charles Schwab Corporation will post 4.22 earnings per share for the current fiscal year.

Charles Schwab Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 28th. Shareholders of record on Friday, November 14th were issued a dividend of $0.27 per share. The ex-dividend date 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 Buying and Selling at Charles Schwab

In related news, insider Jonathan S. Beatty sold 2,000 shares of the company’s stock in a transaction on Tuesday, December 23rd. The stock was sold at an average price of $102.01, for a total value of $204,020.00. Following the sale, the insider directly owned 11,923 shares of the company’s stock, valued at $1,216,265.23. This represents 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 owned by corporate insiders.

Institutional Trading of Charles Schwab

Several hedge funds and other institutional investors have recently made changes to their positions in SCHW. ZWJ Investment Counsel Inc. increased its stake in shares of Charles Schwab by 4.6% in the 3rd quarter. ZWJ Investment Counsel Inc. now owns 2,390 shares of the financial services provider’s stock worth $228,000 after purchasing an additional 106 shares in the last quarter. Bryn Mawr Trust Advisors LLC increased its position in Charles Schwab by 2.0% in the second quarter. Bryn Mawr Trust Advisors LLC now owns 5,489 shares of the financial services provider’s stock worth $501,000 after buying an additional 107 shares in the last quarter. Nicolet Bankshares Inc. lifted its position in shares of Charles Schwab by 0.8% during the 2nd quarter. Nicolet Bankshares Inc. now owns 13,049 shares of the financial services provider’s stock valued at $1,191,000 after buying an additional 107 shares in the last quarter. First PREMIER Bank raised its stake in Charles Schwab by 23.8% during the 3rd quarter. First PREMIER Bank now owns 557 shares of the financial services provider’s stock worth $53,000 after acquiring an additional 107 shares during the period. Finally, Harfst & Associates Inc. increased its stake in shares of Charles Schwab by 0.3% in the third quarter. Harfst & Associates Inc. now owns 33,724 shares of the financial services provider’s stock worth $3,220,000 after purchasing an additional 107 shares in the last quarter. Hedge funds and other institutional investors own 84.38% of the company’s stock.

Charles Schwab Company Profile

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.