Charles Schwab (NYSE:SCHW) Shares Gap Down to $59.76

Shares of The Charles Schwab Co. (NYSE:SCHW) gapped down prior to trading on Friday . The stock had previously closed at $59.76, but opened at $58.00. Charles Schwab shares last traded at $57.55, with a volume of 2,586,821 shares changing hands.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on SCHW shares. The Goldman Sachs Group raised their price objective on Charles Schwab from $71.00 to $80.00 and gave the company a “buy” rating in a research note on Thursday, July 20th. Bank of America raised their price objective on Charles Schwab from $46.00 to $53.00 in a report on Thursday, June 15th. Morgan Stanley upped their target price on Charles Schwab from $68.00 to $71.00 and gave the stock an “equal weight” rating in a report on Friday, July 28th. Piper Sandler lifted their price target on Charles Schwab from $77.00 to $86.00 and gave the company an “overweight” rating in a research note on Monday, July 24th. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on shares of Charles Schwab from $70.00 to $74.00 in a research report on Wednesday, July 19th. Three analysts have rated the stock with a sell rating, two have assigned a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $72.09.

Charles Schwab Stock Performance

The company has a debt-to-equity ratio of 0.80, a current ratio of 0.39 and a quick ratio of 0.39. The company has a fifty day moving average price of $61.58 and a 200 day moving average price of $57.52. The stock has a market cap of $101.95 billion, a P/E ratio of 17.43, a P/E/G ratio of 1.97 and a beta of 0.92.

Charles Schwab (NYSE:SCHW) last released its quarterly earnings data on Tuesday, July 18th. The financial services provider reported $0.75 earnings per share for the quarter, topping the consensus estimate of $0.71 by $0.04. The firm had revenue of $4.66 billion for the quarter, compared to the consensus estimate of $4.61 billion. Charles Schwab had a net margin of 33.15% and a return on equity of 27.54%. The business’s revenue was down 8.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.97 earnings per share. On average, equities analysts expect that The Charles Schwab Co. will post 3.27 EPS for the current year.

Charles Schwab Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 25th. Investors of record on Friday, August 11th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.74%. The ex-dividend date of this dividend was Thursday, August 10th. Charles Schwab’s dividend payout ratio (DPR) is presently 29.15%.

Insider Buying and Selling

In related news, Director Charles A. Ruffel purchased 833 shares of the firm’s stock in a transaction dated Thursday, August 17th. The shares were purchased at an average cost of $60.55 per share, for a total transaction of $50,438.15. Following the completion of the transaction, the director now directly owns 3,386 shares in the company, valued at approximately $205,022.30. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. In other Charles Schwab news, Chairman Charles R. Schwab sold 72,047 shares of the company’s stock in a transaction dated Monday, July 24th. The stock was sold at an average price of $66.66, for a total value of $4,802,653.02. Following the transaction, the chairman now directly owns 59,748,538 shares in the company, valued at approximately $3,982,837,543.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Charles A. Ruffel purchased 833 shares of the company’s stock in a transaction dated Thursday, August 17th. The shares were acquired at an average price of $60.55 per share, with a total value of $50,438.15. Following the transaction, the director now owns 3,386 shares in the company, valued at approximately $205,022.30. The disclosure for this purchase can be found here. Over the last three months, insiders have sold 155,807 shares of company stock worth $10,325,149. 6.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On Charles Schwab

Several hedge funds have recently bought and sold shares of the stock. Cloverfields Capital Group LP grew its position in Charles Schwab by 11.5% in the first quarter. Cloverfields Capital Group LP now owns 50,785 shares of the financial services provider’s stock worth $2,660,000 after acquiring an additional 5,246 shares in the last quarter. Chicago Partners Investment Group LLC grew its holdings in shares of Charles Schwab by 39.4% in the first quarter. Chicago Partners Investment Group LLC now owns 25,007 shares of the financial services provider’s stock worth $1,328,000 after purchasing an additional 7,073 shares during the last quarter. Avantax Advisory Services Inc. increased its position in shares of Charles Schwab by 46.0% in the first quarter. Avantax Advisory Services Inc. now owns 14,668 shares of the financial services provider’s stock valued at $768,000 after acquiring an additional 4,618 shares during the period. Avantax Planning Partners Inc. lifted its holdings in Charles Schwab by 53.7% in the 1st quarter. Avantax Planning Partners Inc. now owns 7,724 shares of the financial services provider’s stock worth $405,000 after buying an additional 2,697 shares during the period. Finally, Jacobi Capital Management LLC increased its position in Charles Schwab by 5.5% during the 1st quarter. Jacobi Capital Management LLC now owns 4,299 shares of the financial services provider’s stock valued at $225,000 after purchasing an additional 223 shares during the period. 81.61% of the stock is currently owned by institutional investors.

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. The company operates in two segments, Investor Services and Advisor Services.