Charles Schwab (NYSE:SCHW) Shares Up 0.3% After Dividend Announcement

Shares of The Charles Schwab Co. (NYSE:SCHW) shot up 0.3% during trading on Wednesday following a dividend announcement from the company. The company traded as high as $75.49 and last traded at $75.43. 1,134,128 shares were traded during trading, a decline of 85% from the average session volume of 7,712,198 shares. The stock had previously closed at $75.23.

The newly announced dividend which will be paid on Friday, May 24th. Investors of record on Friday, May 10th will be given a $0.25 dividend. The ex-dividend date of this dividend is Thursday, May 9th. This represents a $1.00 annualized dividend and a dividend yield of 1.34%. Charles Schwab’s dividend payout ratio is presently 41.84%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Piper Sandler lifted their price target on shares of Charles Schwab from $75.00 to $78.00 and gave the company an “overweight” rating in a research report on Friday, April 12th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Charles Schwab from $75.00 to $77.00 and gave the company a “buy” rating in a research report on Tuesday, March 19th. Bank of America lifted their price target on shares of Charles Schwab from $68.00 to $70.00 and gave the company an “underperform” rating in a research report on Tuesday, April 16th. Raymond James reduced their price target on shares of Charles Schwab from $78.00 to $75.00 and set an “outperform” rating on the stock in a research report on Thursday, January 18th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Charles Schwab from $86.00 to $89.00 and gave the company an “overweight” rating in a research note on Tuesday, April 16th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $74.47.

Charles Schwab Trading Down 0.4 %

The company has a market cap of $132.96 billion, a price-to-earnings ratio of 31.32, a P/E/G ratio of 1.10 and a beta of 1.01. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.43 and a quick ratio of 0.43. The firm’s fifty day moving average price is $69.47 and its 200-day moving average price is $63.68.

Insider Activity

In other news, CFO Peter B. Crawford sold 8,000 shares of the business’s stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $64.76, for a total transaction of $518,080.00. Following the completion of the transaction, the chief financial officer now owns 29,611 shares of the company’s stock, valued at $1,917,608.36. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, CFO Peter B. Crawford sold 8,000 shares of the company’s stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $64.76, for a total value of $518,080.00. Following the completion of the sale, the chief financial officer now owns 29,611 shares of the company’s stock, valued at $1,917,608.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the company’s stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $65.29, for a total transaction of $587,610.00. Following the completion of the sale, the director now directly owns 585,057 shares of the company’s stock, valued at approximately $38,198,371.53. The disclosure for this sale can be found here. Over the last quarter, insiders sold 389,167 shares of company stock valued at $26,987,035. 6.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Charles Schwab

Several institutional investors have recently bought and sold shares of the stock. Providence Capital Advisors LLC bought a new stake in Charles Schwab in the third quarter worth about $28,000. Sugarloaf Wealth Management LLC raised its position in 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 in the last quarter. Frazier Financial Advisors LLC bought a new stake in Charles Schwab in the fourth quarter worth about $30,000. Wetzel Investment Advisors Inc. bought a new stake in Charles Schwab in the fourth quarter worth about $31,000. Finally, Tributary Capital Management LLC bought a new stake in Charles Schwab in the first quarter worth about $31,000. Institutional investors and hedge funds own 84.38% of the company’s stock.

About Charles Schwab

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.