Charles Schwab (NYSE:SCHW) Sets New 52-Week High – Here’s Why

The Charles Schwab Corporation (NYSE:SCHW)’s stock price reached a new 52-week high on Monday . The company traded as high as $100.61 and last traded at $100.2420, with a volume of 1016675 shares changing hands. The stock had previously closed at $98.82.

Analyst Ratings Changes

A number of equities research analysts have weighed in on SCHW shares. JMP Securities reiterated a “market outperform” rating and issued a $110.00 target price on shares of Charles Schwab in a report on Friday, October 17th. The Goldman Sachs Group reiterated a “buy” rating and set a $114.00 target price on shares of Charles Schwab in a research report on Friday, October 17th. Piper Sandler reaffirmed a “neutral” rating on shares of Charles Schwab in a research note on Tuesday, October 14th. Bank of America raised their price objective on Charles Schwab from $88.00 to $91.00 and gave the company an “underperform” rating in a research note on Wednesday, December 10th. Finally, Morgan Stanley increased their target price on Charles Schwab from $139.00 to $148.00 and gave the stock an “overweight” rating in a report on Monday. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $108.84.

Charles Schwab Stock Performance

The company has a 50-day moving average of $94.49 and a 200-day moving average of $93.98. The company has a market cap of $180.77 billion, a PE ratio of 23.82, a PEG ratio of 0.82 and a beta of 0.96. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 0.47.

Charles Schwab (NYSE:SCHW) last posted its quarterly earnings data on Thursday, October 16th. The financial services provider reported $1.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.25 by $0.06. Charles Schwab had a net margin of 35.93% and a return on equity of 21.02%. The firm had revenue of $6.38 billion for the quarter, compared to the consensus estimate of $5.93 billion. During the same period in the previous year, the firm earned $0.71 EPS. The business’s revenue for the quarter was up 26.6% compared to the same quarter last year. As a group, analysts anticipate that The Charles Schwab Corporation will post 4.22 earnings per share for the current year.

Charles Schwab Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 28th. Stockholders of record on Friday, November 14th were issued a $0.27 dividend. The ex-dividend date of this dividend was Friday, November 14th. This represents a $1.08 annualized dividend and a dividend yield of 1.1%. Charles Schwab’s dividend payout ratio is currently 25.29%.

Insiders Place Their Bets

In related news, insider Paul V. Woolway sold 3,205 shares of the stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $93.33, for a total transaction of $299,122.65. Following the completion of the transaction, the insider owned 34,778 shares in the company, valued at approximately $3,245,830.74. This represents a 8.44% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jonathan S. Beatty sold 3,072 shares of the firm’s stock in a transaction that occurred on Wednesday, November 12th. The stock was sold at an average price of $98.00, for a total transaction of $301,056.00. Following the sale, the insider owned 11,923 shares of the company’s stock, valued at approximately $1,168,454. The trade was a 20.49% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 6.30% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in Charles Schwab by 0.3% during the third quarter. Vanguard Group Inc. now owns 151,585,214 shares of the financial services provider’s stock worth $14,471,840,000 after purchasing an additional 403,133 shares during the period. State Street Corp boosted its holdings in Charles Schwab by 1.0% in the 3rd quarter. State Street Corp now owns 73,156,290 shares of the financial services provider’s stock worth $6,984,231,000 after buying an additional 691,671 shares during the period. Geode Capital Management LLC raised its holdings in Charles Schwab by 2.9% during the 2nd quarter. Geode Capital Management LLC now owns 37,381,183 shares of the financial services provider’s stock valued at $3,399,181,000 after acquiring an additional 1,038,376 shares during the period. Franklin Resources Inc. lifted its position in shares of Charles Schwab by 2.8% during the second quarter. Franklin Resources Inc. now owns 30,035,937 shares of the financial services provider’s stock worth $2,740,479,000 after acquiring an additional 815,625 shares in the last quarter. Finally, Fisher Asset Management LLC boosted its holdings in shares of Charles Schwab by 1.3% in the third quarter. Fisher Asset Management LLC now owns 21,646,588 shares of the financial services provider’s stock worth $2,066,600,000 after acquiring an additional 269,898 shares during the period. Hedge funds and other institutional investors own 84.38% of the company’s stock.

Charles Schwab Company Profile

Charles Schwab Corporation (NYSE: SCHW) is a diversified financial services firm that provides brokerage, banking, wealth management and advisory services to individual investors, independent investment advisors and institutional clients. Its primary offerings include retail brokerage accounts, online trading platforms, Schwab-branded mutual funds and exchange-traded funds (ETFs), retirement plan services, custodial services for independent Registered Investment Advisors (RIAs), and banking products through Charles Schwab Bank.