Charles Schwab (NYSE:SCHW) Shares Gap Up to $48.94

Shares of The Charles Schwab Co. (NYSE:SCHW – Get Rating) gapped up prior to trading on Monday . The stock had previously closed at $48.94, but opened at $50.51. Charles Schwab shares last traded at $50.60, with a volume of 3,022,519 shares trading hands.

Analysts Set New Price Targets

Several research analysts have recently weighed in on SCHW shares. Keefe, Bruyette & Woods decreased their target price on shares of Charles Schwab from $89.00 to $65.00 and set an “outperform” rating for the company in a research note on Thursday, April 6th. StockNews.com downgraded shares of Charles Schwab from a “hold” rating to a “sell” rating in a research note on Thursday, May 11th. Citigroup decreased their target price on shares of Charles Schwab from $75.00 to $65.00 and set a “buy” rating for the company in a research note on Wednesday, March 29th. Credit Suisse Group upgraded shares of Charles Schwab from a “neutral” rating to an “outperform” rating and decreased their target price for the company from $81.50 to $67.50 in a research note on Wednesday, March 15th. Finally, Piper Sandler reduced their price objective on shares of Charles Schwab from $83.00 to $75.00 in a research note on Tuesday, April 18th. Three research analysts have rated the stock with a sell rating, two have issued a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, Charles Schwab currently has a consensus rating of “Moderate Buy” and a consensus price target of $68.73.

Charles Schwab Stock Performance

The stock’s 50-day moving average price is $53.07 and its 200-day moving average price is $70.49. The company has a current ratio of 0.39, a quick ratio of 0.39 and a debt-to-equity ratio of 0.74. The company has a market capitalization of $88.62 billion, a P/E ratio of 13.69, a P/E/G ratio of 2.49 and a beta of 0.88.

Charles Schwab (NYSE:SCHW – Get Rating) last posted its quarterly earnings results on Monday, April 17th. The financial services provider reported $0.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.90 by $0.03. Charles Schwab had a net margin of 34.82% and a return on equity of 27.83%. The company had revenue of $5.12 billion for the quarter, compared to the consensus estimate of $5.13 billion. During the same period last year, the firm posted $0.77 EPS. The company’s revenue for the quarter was up 9.5% on a year-over-year basis. As a group, equities analysts expect that The Charles Schwab Co. will post 3.36 EPS for the current year.

Charles Schwab Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 26th. Stockholders of record on Friday, May 12th will be given a $0.25 dividend. The ex-dividend date is Thursday, May 11th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.00%. Charles Schwab’s payout ratio is currently 27.32%.

Insider Transactions at Charles Schwab

In other news, Director Marianne Catherine Brown acquired 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 28th. The shares were acquired at an average price of $53.47 per share, with a total value of $267,350.00. Following the acquisition, the director now directly owns 9,984 shares in the company, valued at $533,844.48. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, CEO Walter W. Bettinger bought 50,000 shares of the stock in a transaction on Tuesday, March 14th. The shares were purchased at an average price of $59.31 per share, with a total value of $2,965,500.00. Following the purchase, the chief executive officer now owns 656,501 shares in the company, valued at $38,937,074.31. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Marianne Catherine Brown bought 5,000 shares of the stock in a transaction on Tuesday, March 28th. The shares were bought at an average cost of $53.47 per share, for a total transaction of $267,350.00. Following the purchase, the director now owns 9,984 shares in the company, valued at approximately $533,844.48. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 81,000 shares of company stock worth $4,706,960 and have sold 50,639 shares worth $3,930,930. Insiders own 6.60% of the company’s stock.

Hedge Funds Weigh In On Charles Schwab

Large investors have recently bought and sold shares of the stock. Phocas Financial Corp. acquired a new position in Charles Schwab during the 4th quarter valued at about $25,000. Beacon Capital Management LLC acquired a new position in Charles Schwab during the 1st quarter valued at about $25,000. Your Advocates Ltd. LLP acquired a new position in Charles Schwab during the 1st quarter valued at about $25,000. Selway Asset Management acquired a new position in Charles Schwab during the 3rd quarter valued at about $29,000. Finally, Carolina Wealth Advisors LLC increased its stake in Charles Schwab by 54.8% during the 1st quarter. Carolina Wealth Advisors LLC now owns 565 shares of the financial services provider’s stock valued at $30,000 after buying an additional 200 shares during the period. Institutional investors and hedge funds own 73.49% of the company’s stock.

About Charles Schwab

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The Charles Schwab Corp. is a savings and loan holding company, which engages in the provision of wealth management, securities brokerage, banking, asset management, custody, and financial advisory services. It operates through the Investor Services and Advisor Services segments. The Investor Services segment includes retail brokerage and banking services to individual investors, and retirement plan services, as well as other corporate brokerage services, to businesses and their employees.