The Charles Schwab Corporation (SCHW) to Distribute Quarterly Dividend of $0.32 on August 28th

The Charles Schwab Corporation (NYSE:SCHW) declared a quarterly dividend on Thursday, July 23rd. Stockholders of record on Friday, August 14th will be paid a dividend of 0.32 per share by the financial services provider on Friday, August 28th. This represents a c) annualized dividend and a dividend yield of 1.3%. The ex-dividend date of this dividend is Friday, August 14th.

Charles Schwab has raised its dividend payment by an average of 0.1%annually over the last three years and has raised its dividend every year for the last 1 years. Charles Schwab has a dividend payout ratio of 25.1% indicating that its dividend is sufficiently covered by earnings. Analysts expect Charles Schwab to earn $7.67 per share next year, which means the company should continue to be able to cover its $1.28 annual dividend with an expected future payout ratio of 16.7%.

Charles Schwab Stock Up 0.3%

Shares of NYSE SCHW opened at $101.92 on Friday. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 0.48. The business has a 50-day moving average of $93.93 and a 200-day moving average of $95.39. The firm has a market capitalization of $177.25 billion, a price-to-earnings ratio of 18.53, a PEG ratio of 0.82 and a beta of 0.77. Charles Schwab has a 12 month low of $83.96 and a 12 month high of $107.50.

Charles Schwab (NYSE:SCHW) last announced its earnings results on Tuesday, July 21st. The financial services provider reported $1.62 earnings per share for the quarter, beating analysts’ consensus estimates of $1.56 by $0.06. The business had revenue of $7.07 billion for the quarter, compared to the consensus estimate of $6.90 billion. Charles Schwab had a net margin of 38.79% and a return on equity of 24.73%. Charles Schwab’s quarterly revenue was up 20.9% on a year-over-year basis. During the same period last year, the firm posted $1.14 earnings per share. Sell-side analysts expect that Charles Schwab will post 6.43 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have commented on SCHW shares. Truist Financial cut their price target on shares of Charles Schwab from $122.00 to $120.00 and set a “buy” rating for the company in a research note on Wednesday, April 1st. Zacks Research upgraded shares of Charles Schwab from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 9th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Charles Schwab in a report on Wednesday. Raymond James Financial reiterated an “outperform” rating and issued a $145.00 target price on shares of Charles Schwab in a research report on Wednesday. Finally, Jefferies Financial Group reduced their target price on Charles Schwab from $122.00 to $118.00 and set a “buy” rating on the stock in a research note on Monday, April 6th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $119.76.

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.