Zacks Research Raises Earnings Estimates for Charles Schwab

The Charles Schwab Co. (NYSE:SCHW) – Research analysts at Zacks Research increased their FY2024 earnings per share (EPS) estimates for Charles Schwab in a research report issued on Thursday, December 19th. Zacks Research analyst R. Department now expects that the financial services provider will post earnings per share of $3.10 for the year, up from their prior forecast of $3.08. The consensus estimate for Charles Schwab’s current full-year earnings is $3.12 per share. Zacks Research also issued estimates for Charles Schwab’s Q4 2024 earnings at $0.86 EPS, Q1 2025 earnings at $0.87 EPS, Q2 2025 earnings at $0.93 EPS and Q1 2026 earnings at $1.09 EPS.

Charles Schwab (NYSE:SCHW) last released its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $0.77 earnings per share for the quarter, topping analysts’ consensus estimates of $0.75 by $0.02. Charles Schwab had a net margin of 27.47% and a return on equity of 16.92%. The company had revenue of $4.85 billion during the quarter, compared to analyst estimates of $4.78 billion. During the same period in the prior year, the firm earned $0.77 earnings per share. The firm’s revenue for the quarter was up 5.2% compared to the same quarter last year.

Other equities research analysts also recently issued research reports about the company. Raymond James dropped their price objective on Charles Schwab from $76.00 to $73.00 in a research report on Tuesday, October 15th. Wells Fargo & Company raised their price target on shares of Charles Schwab from $75.00 to $90.00 and gave the company an “equal weight” rating in a report on Thursday, December 12th. Jefferies Financial Group boosted their price objective on shares of Charles Schwab from $84.00 to $94.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. Morgan Stanley raised their target price on shares of Charles Schwab from $68.00 to $74.00 and gave the company an “equal weight” rating in a research note on Thursday, October 24th. Finally, Deutsche Bank Aktiengesellschaft upped their price target on Charles Schwab from $77.00 to $80.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $80.50.

Charles Schwab Stock Up 0.2 %

Shares of NYSE SCHW opened at $74.84 on Monday. The stock has a market capitalization of $133.19 billion, a PE ratio of 29.23, a price-to-earnings-growth ratio of 1.76 and a beta of 0.96. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 0.59. Charles Schwab has a 12-month low of $59.67 and a 12-month high of $83.35. The stock’s fifty day simple moving average is $76.91 and its two-hundred day simple moving average is $70.55.

Hedge Funds Weigh In On Charles Schwab

A number of institutional investors and hedge funds have recently bought and sold shares of SCHW. Washington Trust Advisors Inc. increased its stake in shares of Charles Schwab by 62.6% in the 3rd quarter. Washington Trust Advisors Inc. now owns 387 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 149 shares during the last quarter. Capital Performance Advisors LLP acquired a new stake in Charles Schwab during the third quarter worth about $25,000. American Capital Advisory LLC purchased a new position in Charles Schwab during the second quarter worth about $27,000. Mizuho Securities Co. Ltd. acquired a new position in Charles Schwab in the 2nd quarter valued at about $29,000. Finally, Prospera Private Wealth LLC purchased a new stake in shares of Charles Schwab in the 3rd quarter valued at approximately $31,000. 84.38% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Charles Schwab

In related news, insider Jonathan S. Beatty sold 2,300 shares of Charles Schwab stock in a transaction on Monday, November 25th. The shares were sold at an average price of $82.01, for a total value of $188,623.00. Following the sale, the insider now owns 18,069 shares of the company’s stock, valued at approximately $1,481,838.69. This trade represents a 11.29 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Carolyn Schwab-Pomerantz sold 29,800 shares of the stock in a transaction on Thursday, October 17th. The shares were sold at an average price of $72.16, for a total transaction of $2,150,368.00. Following the transaction, the director now directly owns 551,329 shares in the company, valued at approximately $39,783,900.64. The trade was a 5.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 118,968 shares of company stock valued at $8,842,821 in the last ninety days. 6.60% of the stock is currently owned by corporate insiders.

Charles Schwab Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Friday, November 8th were given a $0.25 dividend. The ex-dividend date was Friday, November 8th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.34%. Charles Schwab’s dividend payout ratio (DPR) is currently 39.06%.

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.