Jefferies Financial Group Equities Analysts Increase Earnings Estimates for The Charles Schwab Co. (NYSE:SCHW)

The Charles Schwab Co. (NYSE:SCHWGet Rating) – Investment analysts at Jefferies Financial Group increased their FY2022 earnings estimates for Charles Schwab in a report issued on Monday, September 19th. Jefferies Financial Group analyst D. Fannon now expects that the financial services provider will earn $3.91 per share for the year, up from their prior estimate of $3.81. Jefferies Financial Group currently has a “Buy” rating and a $86.00 price target on the stock. The consensus estimate for Charles Schwab’s current full-year earnings is $3.90 per share. Jefferies Financial Group also issued estimates for Charles Schwab’s Q4 2022 earnings at $1.14 EPS, FY2023 earnings at $5.05 EPS and FY2024 earnings at $5.45 EPS.

Several other research firms have also recently commented on SCHW. UBS Group upped their price target on Charles Schwab from $82.00 to $85.00 and gave the stock a “buy” rating in a research note on Friday, September 16th. Redburn Partners assumed coverage on Charles Schwab in a research report on Thursday, June 23rd. They issued a “neutral” rating for the company. Barclays assumed coverage on Charles Schwab in a research report on Wednesday, August 31st. They issued an “equal weight” rating and a $81.00 price objective for the company. Deutsche Bank Aktiengesellschaft increased their price objective on Charles Schwab from $90.00 to $95.00 in a research report on Friday, August 19th. Finally, Morgan Stanley cut their price objective on Charles Schwab from $98.00 to $93.00 and set an “overweight” rating for the company in a research report on Monday, August 1st. Five analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, Charles Schwab has an average rating of “Moderate Buy” and an average target price of $91.46.

Charles Schwab Price Performance

Charles Schwab stock opened at $73.35 on Tuesday. Charles Schwab has a 12 month low of $59.35 and a 12 month high of $96.24. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.41 and a quick ratio of 0.41. The business has a 50 day simple moving average of $69.64 and a 200-day simple moving average of $71.43. The stock has a market capitalization of $133.34 billion, a PE ratio of 24.13, a price-to-earnings-growth ratio of 0.90 and a beta of 1.07.

Charles Schwab (NYSE:SCHWGet Rating) last posted its quarterly earnings data on Monday, July 18th. The financial services provider reported $0.97 earnings per share for the quarter, beating the consensus estimate of $0.91 by $0.06. The business had revenue of $5.09 billion during the quarter, compared to the consensus estimate of $5.04 billion. Charles Schwab had a return on equity of 16.82% and a net margin of 33.09%. The company’s revenue was up 12.5% compared to the same quarter last year. During the same period in the prior year, the company earned $0.70 earnings per share.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in SCHW. Procyon Advisors LLC acquired a new position in Charles Schwab during the 1st quarter valued at approximately $201,000. CWM LLC boosted its position in Charles Schwab by 51.2% during the 1st quarter. CWM LLC now owns 26,856 shares of the financial services provider’s stock worth $2,264,000 after acquiring an additional 9,099 shares during the period. Massmutual Trust Co. FSB ADV boosted its position in Charles Schwab by 32.1% during the 1st quarter. Massmutual Trust Co. FSB ADV now owns 934 shares of the financial services provider’s stock worth $79,000 after acquiring an additional 227 shares during the period. HHM Wealth Advisors LLC acquired a new position in Charles Schwab during the 1st quarter worth $59,000. Finally, Nvwm LLC acquired a new position in Charles Schwab during the 1st quarter worth $94,000. Institutional investors and hedge funds own 82.45% of the company’s stock.

Insider Activity at Charles Schwab

In other Charles Schwab news, Chairman Charles R. Schwab sold 120,000 shares of Charles Schwab stock in a transaction that occurred on Wednesday, July 20th. The stock was sold at an average price of $62.70, for a total transaction of $7,524,000.00. Following the sale, the chairman now directly owns 71,083,305 shares in the company, valued at approximately $4,456,923,223.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Charles Schwab news, Chairman Charles R. Schwab sold 120,000 shares of Charles Schwab stock in a transaction that occurred on Wednesday, July 20th. The stock was sold at an average price of $62.70, for a total transaction of $7,524,000.00. Following the sale, the chairman now directly owns 71,083,305 shares in the company, valued at approximately $4,456,923,223.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Charles R. Schwab sold 149,600 shares of Charles Schwab stock in a transaction that occurred on Thursday, July 28th. The stock was sold at an average price of $65.36, for a total value of $9,777,856.00. Following the sale, the chairman now owns 69,749,230 shares in the company, valued at $4,558,809,672.80. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 277,632 shares of company stock worth $17,904,256. 6.90% of the stock is currently owned by company insiders.

Charles Schwab Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 26th. Investors of record on Friday, August 12th were issued a dividend of $0.22 per share. This is an increase from Charles Schwab’s previous quarterly dividend of $0.20. This represents a $0.88 annualized dividend and a dividend yield of 1.20%. The ex-dividend date of this dividend was Thursday, August 11th. Charles Schwab’s dividend payout ratio (DPR) is presently 28.95%.

Charles Schwab Company Profile

(Get Rating)

The Charles Schwab Corporation, together with its subsidiaries, provides wealth management, securities brokerage, banking, asset management, custody, and financial advisory services. The company operates in two segments, Investor Services and Advisor Services. The Investor Services segment provides retail brokerage, investment advisory, banking and trust, retirement plan, and other corporate brokerage services; equity compensation plan sponsors full-service recordkeeping for stock plans, stock options, restricted stock, performance shares, and stock appreciation rights; and retail investor and mutual fund clearing services, as well as compliance solutions.

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Earnings History and Estimates for Charles Schwab (NYSE:SCHW)

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