Charles Schwab (NYSE:SCHW) Reaches New 12-Month High – Here’s Why

The Charles Schwab Corporation (NYSE:SCHW)’s stock price reached a new 52-week high on Monday . The company traded as high as $112.50 and last traded at $112.50, with a volume of 1257 shares traded. The stock had previously closed at $112.30.

Analyst Ratings Changes

A number of research firms recently commented on SCHW. Morgan Stanley boosted their price objective on shares of Charles Schwab from $133.00 to $136.00 and gave the stock an “overweight” rating in a report on Monday, July 27th. Zacks Research upgraded shares of Charles Schwab from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 9th. Raymond James Financial reissued an “outperform” rating and set a $145.00 price objective on shares of Charles Schwab in a research note on Wednesday, July 22nd. Wolfe Research reaffirmed an “outperform” rating and issued a $127.00 target price on shares of Charles Schwab in a research note on Tuesday, July 21st. Finally, UBS Group set a $135.00 price target on Charles Schwab in a research note on Monday, August 3rd. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Charles Schwab currently has a consensus rating of “Moderate Buy” and a consensus target price of $121.17.

Charles Schwab Price Performance

The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 0.52. The stock has a market cap of $194.55 billion, a PE ratio of 20.45, a P/E/G ratio of 0.84 and a beta of 0.76. The company’s 50 day moving average is $101.59 and its 200-day moving average is $96.09.

Charles Schwab (NYSE:SCHW) last issued its quarterly earnings results on Tuesday, July 21st. The financial services provider reported $1.62 EPS for the quarter, beating analysts’ consensus estimates of $1.56 by $0.06. The firm had revenue of $7.07 billion during the quarter, compared to the consensus estimate of $6.90 billion. Charles Schwab had a return on equity of 24.53% and a net margin of 38.79%.Charles Schwab’s revenue for the quarter was up 20.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.14 earnings per share. As a group, sell-side analysts predict that The Charles Schwab Corporation will post 6.46 earnings per share for the current year.

Charles Schwab Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 28th. Investors of record on Friday, August 14th will be paid a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date is Friday, August 14th. Charles Schwab’s dividend payout ratio (DPR) is 23.27%.

Insider Transactions at Charles Schwab

In other news, Chairman Walter W. Bettinger sold 93,408 shares of Charles Schwab stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $104.64, for a total value of $9,774,213.12. Following the completion of the transaction, the chairman owned 529,346 shares in the company, valued at approximately $55,390,765.44. This trade represents a 15.00% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Dennis Howard sold 2,198 shares of the business’s stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of $110.00, for a total value of $241,780.00. Following the completion of the sale, the insider owned 6,980 shares of the company’s stock, valued at $767,800. This trade represents a 23.95% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 398,984 shares of company stock valued at $41,699,569 over the last 90 days. Corporate insiders own 6.30% of the company’s stock.

Hedge Funds Weigh In On Charles Schwab

A number of hedge funds have recently added to or reduced their stakes in SCHW. State Street Corp raised its stake in Charles Schwab by 1.0% during the third quarter. State Street Corp now owns 73,156,290 shares of the financial services provider’s stock worth $6,984,231,000 after acquiring an additional 691,671 shares during the period. Geode Capital Management LLC increased its stake in shares of Charles Schwab by 0.3% during the fourth quarter. Geode Capital Management LLC now owns 37,667,640 shares of the financial services provider’s stock valued at $3,747,646,000 after acquiring an additional 98,242 shares during the period. Franklin Resources Inc. raised its holdings in Charles Schwab by 0.3% during the fourth quarter. Franklin Resources Inc. now owns 30,184,369 shares of the financial services provider’s stock worth $3,015,720,000 after purchasing an additional 78,020 shares in the last quarter. Primecap Management Co. CA raised its holdings in Charles Schwab by 9.7% during the fourth quarter. Primecap Management Co. CA now owns 23,276,071 shares of the financial services provider’s stock worth $2,325,512,000 after purchasing an additional 2,066,884 shares in the last quarter. Finally, Fisher Asset Management LLC lifted its position in Charles Schwab by 0.8% in the fourth quarter. Fisher Asset Management LLC now owns 21,818,514 shares of the financial services provider’s stock worth $2,179,888,000 after purchasing an additional 171,926 shares during the period. Institutional investors and hedge funds 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.