Q1 2024 EPS Estimates for The Charles Schwab Co. Cut by William Blair (NYSE:SCHW)

The Charles Schwab Co. (NYSE:SCHW) – William Blair decreased their Q1 2024 EPS estimates for shares of Charles Schwab in a research note issued to investors on Wednesday, April 10th. William Blair analyst J. Schmitt now forecasts that the financial services provider will earn $0.74 per share for the quarter, down from their previous estimate of $0.76. The consensus estimate for Charles Schwab’s current full-year earnings is $3.38 per share.

Charles Schwab (NYSE:SCHW) last announced its quarterly earnings results on Wednesday, January 17th. The financial services provider reported $0.68 EPS for the quarter, topping the consensus estimate of $0.64 by $0.04. Charles Schwab had a net margin of 26.90% and a return on equity of 21.33%. The company had revenue of $4.46 billion for the quarter, compared to analyst estimates of $4.49 billion. During the same quarter in the prior year, the business posted $1.07 EPS. Charles Schwab’s quarterly revenue was down 18.9% on a year-over-year basis.

Several other brokerages have also commented on SCHW. UBS Group increased their price target on shares of Charles Schwab from $72.00 to $82.00 and gave the stock a “buy” rating in a research note on Friday, December 15th. Keefe, Bruyette & Woods lowered shares of Charles Schwab from an “outperform” rating to a “market perform” rating and dropped their price target for the stock from $75.00 to $70.00 in a research note on Thursday, January 18th. Raymond James decreased their price objective on shares of Charles Schwab from $78.00 to $75.00 and set an “outperform” rating for the company in a report on Thursday, January 18th. Citigroup upped their price objective on shares of Charles Schwab from $70.00 to $75.00 and gave the stock a “neutral” rating in a report on Thursday. Finally, TD Cowen raised shares of Charles Schwab from a “market perform” rating to an “outperform” rating and set a $87.00 price objective for the company in a report on Friday, March 22nd. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $72.35.

Charles Schwab Stock Performance

Shares of SCHW opened at $70.61 on Friday. The company’s fifty day moving average is $67.42 and its 200-day moving average is $62.29. Charles Schwab has a 12 month low of $45.65 and a 12 month high of $72.97. The firm has a market cap of $125.41 billion, a price-to-earnings ratio of 27.80, a price-to-earnings-growth ratio of 1.08 and a beta of 1.01. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.82.

Hedge Funds Weigh In On Charles Schwab

Several institutional investors have recently added to or reduced their stakes in SCHW. Main Street Group LTD bought a new position in shares of Charles Schwab in the fourth quarter worth about $29,000. Sugarloaf Wealth Management LLC raised its stake in shares of Charles Schwab by 60.0% in the fourth quarter. Sugarloaf Wealth Management LLC now owns 440 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 165 shares during the last quarter. Frazier Financial Advisors LLC bought a new position in shares of Charles Schwab in the fourth quarter worth about $30,000. Wetzel Investment Advisors Inc. bought a new position in shares of Charles Schwab in the fourth quarter worth about $31,000. Finally, Hall Laurie J Trustee bought a new position in shares of Charles Schwab in the fourth quarter worth about $34,000. 84.38% of the stock is owned by institutional investors.

Insider Activity

In other news, CFO Peter B. Crawford sold 4,000 shares of the stock in a transaction on Monday, January 22nd. The shares were sold at an average price of $64.49, for a total value of $257,960.00. Following the completion of the transaction, the chief financial officer now owns 37,611 shares in the company, valued at approximately $2,425,533.39. The sale was disclosed in a filing with the SEC, which is available at this link. In related news, CFO Peter B. Crawford sold 4,000 shares of Charles Schwab stock in a transaction dated Monday, January 22nd. The shares were sold at an average price of $64.49, for a total transaction of $257,960.00. Following the completion of the transaction, the chief financial officer now directly owns 37,611 shares of the company’s stock, valued at approximately $2,425,533.39. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Peter B. Crawford sold 8,000 shares of Charles Schwab stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $64.76, for a total transaction of $518,080.00. Following the transaction, the chief financial officer now directly owns 29,611 shares of the company’s stock, valued at $1,917,608.36. The disclosure for this sale can be found here. In the last 90 days, insiders sold 216,584 shares of company stock worth $14,200,769. 6.60% of the stock is currently owned by corporate insiders.

Charles Schwab Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 23rd. Stockholders of record on Friday, February 9th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.42%. The ex-dividend date was Thursday, February 8th. Charles Schwab’s dividend payout ratio is 39.37%.

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.