Q2 2023 Earnings Forecast for The Charles Schwab Co. (NYSE:SCHW) Issued By William Blair

The Charles Schwab Co. (NYSE:SCHW – Get Rating) – Equities research analysts at William Blair decreased their Q2 2023 earnings per share estimates for shares of Charles Schwab in a note issued to investors on Tuesday, May 23rd. William Blair analyst J. Schmitt now expects that the financial services provider will post earnings of $0.85 per share for the quarter, down from their previous estimate of $0.86. The consensus estimate for Charles Schwab’s current full-year earnings is $3.35 per share.

Several other research firms have also commented on SCHW. StockNews.com upgraded Charles Schwab from a “sell” rating to a “hold” rating in a research report on Friday, May 19th. Deutsche Bank Aktiengesellschaft reduced their price objective on Charles Schwab from $75.00 to $72.00 in a research note on Tuesday, April 18th. Redburn Partners cut Charles Schwab from a “neutral” rating to a “sell” rating in a research note on Thursday, April 20th. Raymond James upgraded Charles Schwab from a “market perform” rating to an “outperform” rating and set a $63.00 price objective on the stock in a research note on Monday, May 15th. Finally, Bank of America reduced their price objective on Charles Schwab from $53.00 to $51.00 in a research note on Monday, April 17th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, Charles Schwab has a consensus rating of “Moderate Buy” and a consensus price target of $68.73.

Charles Schwab Trading Up 4.1 %

Shares of Charles Schwab stock opened at $54.24 on Thursday. The firm has a market capitalization of $95.96 billion, a price-to-earnings ratio of 14.82, a PEG ratio of 2.71 and a beta of 0.88. Charles Schwab has a fifty-two week low of $45.00 and a fifty-two week high of $86.63. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.39 and a current ratio of 0.39. The stock has a 50 day moving average of $51.85 and a 200 day moving average of $69.30.

Charles Schwab (NYSE:SCHW – Get Rating) last announced its earnings results on Monday, April 17th. The financial services provider reported $0.93 EPS for the quarter, beating analysts’ consensus estimates of $0.90 by $0.03. The business had revenue of $5.12 billion during the quarter, compared to analysts’ expectations of $5.13 billion. Charles Schwab had a return on equity of 27.83% and a net margin of 34.82%. The business’s revenue was up 9.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.77 earnings per share.

Charles Schwab Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 26th. Investors of record on Friday, May 12th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.84%. The ex-dividend date is Thursday, May 11th. Charles Schwab’s dividend payout ratio (DPR) is presently 27.32%.

Insider Activity at Charles Schwab

In other Charles Schwab news, insider Jonathan M. Craig sold 34,667 shares of the business’s stock in a transaction that occurred on Monday, March 6th. The stock was sold at an average price of $76.33, for a total transaction of $2,646,132.11. Following the transaction, the insider now owns 11,159 shares in the company, valued at approximately $851,766.47. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Jonathan M. Craig sold 34,667 shares of the company’s stock in a transaction that occurred on Monday, March 6th. The stock was sold at an average price of $76.33, for a total value of $2,646,132.11. Following the sale, the insider now owns 11,159 shares in the company, valued at approximately $851,766.47. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Peter B. Crawford purchased 5,000 shares of the stock in a transaction that occurred on Tuesday, March 14th. The stock was purchased at an average price of $57.96 per share, for a total transaction of $289,800.00. Following the acquisition, the chief financial officer now owns 44,725 shares in the company, valued at $2,592,261. The disclosure for this purchase can be found here. Insiders have purchased 81,000 shares of company stock worth $4,706,960 in the last quarter. Company insiders own 6.60% of the company’s stock.

Institutional Investors Weigh In On Charles Schwab

A number of institutional investors and hedge funds have recently bought and sold shares of SCHW. Phocas Financial Corp. acquired a new stake in Charles Schwab in the 4th quarter valued at $25,000. Beacon Capital Management LLC acquired a new stake in Charles Schwab in the 1st quarter valued at $25,000. Your Advocates Ltd. LLP acquired a new stake in Charles Schwab in the 1st quarter valued at $25,000. Householder Group Estate & Retirement Specialist LLC acquired a new stake in Charles Schwab in the 1st quarter valued at $30,000. Finally, Carolina Wealth Advisors LLC grew its stake in shares of Charles Schwab by 54.8% during the first quarter. Carolina Wealth Advisors LLC now owns 565 shares of the financial services provider’s stock valued at $30,000 after acquiring an additional 200 shares in the last quarter. Hedge funds and other institutional investors own 73.49% of the company’s stock.

About Charles Schwab

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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.