Q4 2023 EPS Estimates for The Charles Schwab Co. Reduced by Zacks Research (NYSE:SCHW)

The Charles Schwab Co. (NYSE:SCHW – Get Rating) – Equities research analysts at Zacks Research decreased their Q4 2023 earnings per share estimates for Charles Schwab in a note issued to investors on Tuesday, March 14th. Zacks Research analyst N. Kataruka now forecasts that the financial services provider will earn $1.13 per share for the quarter, down from their previous estimate of $1.17. The consensus estimate for Charles Schwab’s current full-year earnings is $4.10 per share.

Charles Schwab (NYSE:SCHW – Get Rating) last issued its quarterly earnings results on Wednesday, January 18th. The financial services provider reported $1.07 EPS for the quarter, missing the consensus estimate of $1.10 by ($0.03). Charles Schwab had a net margin of 34.60% and a return on equity of 24.94%. The company had revenue of $5.50 billion for the quarter, compared to analyst estimates of $5.55 billion. During the same period last year, the company posted $0.86 earnings per share. The business’s revenue for the quarter was up 16.8% on a year-over-year basis.

A number of other analysts have also recently issued reports on the company. UBS Group raised their price objective on Charles Schwab from $90.00 to $97.00 and gave the company a “buy” rating in a research report on Monday, January 9th. Piper Sandler dropped their price target on Charles Schwab from $100.00 to $95.00 and set an “overweight” rating for the company in a report on Tuesday. Credit Suisse Group raised Charles Schwab from a “neutral” rating to an “outperform” rating and dropped their price target for the stock from $81.50 to $67.50 in a report on Wednesday. Bank of America lowered their price objective on Charles Schwab from $74.00 to $60.00 in a research note on Monday, March 13th. Finally, William Blair restated an “outperform” rating on shares of Charles Schwab in a research note on Tuesday, January 17th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, Charles Schwab currently has a consensus rating of “Moderate Buy” and a consensus price target of $85.04.

Charles Schwab Stock Performance

SCHW opened at $56.41 on Friday. Charles Schwab has a 12-month low of $45.00 and a 12-month high of $93.16. The stock has a market cap of $101.06 billion, a price-to-earnings ratio of 16.12, a PEG ratio of 1.21 and a beta of 0.93. The business has a 50 day moving average of $76.48 and a 200-day moving average of $76.57. The company has a quick ratio of 0.38, a current ratio of 0.38 and a debt-to-equity ratio of 0.77.

Hedge Funds Weigh In On Charles Schwab

Institutional investors have recently modified their holdings of the business. West Branch Capital LLC purchased a new position in Charles Schwab in the third quarter valued at approximately $25,000. Phocas Financial Corp. purchased a new position in Charles Schwab in the fourth quarter valued at approximately $25,000. Selway Asset Management purchased a new stake in shares of Charles Schwab during the third quarter worth $29,000. Worth Asset Management LLC purchased a new stake in shares of Charles Schwab during the first quarter worth $32,000. Finally, Ruedi Wealth Management Inc. purchased a new stake in shares of Charles Schwab during the fourth quarter worth $33,000. 73.49% of the stock is owned by institutional investors.

Insider Activity at Charles Schwab

In related news, insider Jonathan M. Craig sold 51,144 shares of the business’s stock in a transaction dated Wednesday, January 18th. The stock was sold at an average price of $80.30, for a total value of $4,106,863.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Charles Schwab news, insider Jonathan M. Craig sold 51,144 shares of the business’s stock in a transaction that occurred on Wednesday, January 18th. The stock was sold at an average price of $80.30, for a total transaction of $4,106,863.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Charles R. Schwab sold 62,500 shares of the business’s stock in a transaction that occurred on Wednesday, February 8th. The stock was sold at an average price of $81.54, for a total value of $5,096,250.00. Following the sale, the chairman now directly owns 30,731,256 shares of the company’s stock, valued at $2,505,826,614.24. The disclosure for this sale can be found here. In the last three months, insiders bought 71,000 shares of company stock valued at $4,165,460 and sold 728,106 shares valued at $58,067,403. 7.50% of the stock is currently owned by corporate insiders.

Charles Schwab Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 24th. Investors of record on Friday, February 10th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.77%. This is a positive change from Charles Schwab’s previous quarterly dividend of $0.22. The ex-dividend date was Thursday, February 9th. Charles Schwab’s payout ratio is presently 28.57%.

Charles Schwab Company Profile

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The Charles Schwab Corp. is a savings and loan holding company, which engages in the provision of wealth management, securities brokerage, banking, asset management, custody, and financial advisory services. It operates through the Investor Services and Advisor Services segments. The Investor Services segment includes retail brokerage and banking services to individual investors, and retirement plan services, as well as other corporate brokerage services, to businesses and their employees.