Charles Schwab (NYSE:SCHW) Reaches New 52-Week High – Still a Buy?

The Charles Schwab Co. (NYSE:SCHW) shares hit a new 52-week high during trading on Thursday . The stock traded as high as $81.51 and last traded at $81.51, with a volume of 245900 shares changing hands. The stock had previously closed at $78.25.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Raymond James cut their price objective on Charles Schwab from $76.00 to $73.00 in a research report on Tuesday, October 15th. Piper Sandler upped their price objective on shares of Charles Schwab from $64.00 to $65.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 16th. Bank of America dropped their target price on shares of Charles Schwab from $63.00 to $61.00 and set an “underperform” rating on the stock in a research report on Wednesday, October 16th. JMP Securities upped their price target on shares of Charles Schwab from $82.00 to $84.00 and gave the stock a “market outperform” rating in a research report on Wednesday, October 16th. Finally, Cowen raised their price target on shares of Charles Schwab from $69.00 to $75.00 and gave the company a “hold” rating in a research note on Tuesday, October 15th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $74.18.

Charles Schwab Stock Up 4.0 %

The business has a 50 day simple moving average of $68.05 and a 200-day simple moving average of $69.54. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.42 and a current ratio of 0.47. The firm has a market capitalization of $144.81 billion, a price-to-earnings ratio of 30.57, a P/E/G ratio of 1.79 and a beta of 0.96.

Charles Schwab (NYSE:SCHW) last announced its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $0.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.75 by $0.02. Charles Schwab had a net margin of 27.47% and a return on equity of 16.92%. The business had revenue of $4.85 billion during the quarter, compared to the consensus estimate of $4.78 billion. During the same quarter last year, the firm earned $0.77 EPS. The business’s revenue was up 5.2% compared to the same quarter last year. On average, equities analysts expect that The Charles Schwab Co. will post 3.12 EPS for the current year.

Charles Schwab Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Friday, November 8th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.23%. The ex-dividend date of this dividend is Friday, November 8th. Charles Schwab’s dividend payout ratio (DPR) is 39.06%.

Insiders Place Their Bets

In related news, insider Jonathan S. Beatty sold 2,500 shares of the business’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $77.02, for a total value of $192,550.00. Following the sale, the insider now owns 18,069 shares in the company, valued at approximately $1,391,674.38. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Chairman Charles R. Schwab sold 62,345 shares of the company’s stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $72.52, for a total transaction of $4,521,259.40. Following the sale, the chairman now owns 60,619,371 shares of the company’s stock, valued at approximately $4,396,116,784.92. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jonathan S. Beatty sold 2,500 shares of Charles Schwab stock in a transaction on Monday, November 11th. The shares were sold at an average price of $77.02, for a total value of $192,550.00. Following the completion of the transaction, the insider now owns 18,069 shares of the company’s stock, valued at approximately $1,391,674.38. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 103,645 shares of company stock worth $7,440,627 over the last ninety days. Corporate insiders own 6.60% of the company’s stock.

Hedge Funds Weigh In On Charles Schwab

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Country Trust Bank purchased a new position in Charles Schwab in the second quarter valued at $26,000. Capital Performance Advisors LLP purchased a new position in shares of Charles Schwab in the 3rd quarter valued at about $25,000. Washington Trust Advisors Inc. raised its position in shares of Charles Schwab by 62.6% during the 3rd quarter. Washington Trust Advisors Inc. now owns 387 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 149 shares in the last quarter. Fortitude Family Office LLC lifted its stake in Charles Schwab by 97.5% during the second quarter. Fortitude Family Office LLC now owns 389 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 192 shares during the last quarter. Finally, American Capital Advisory LLC acquired a new position in Charles Schwab in the second quarter valued at approximately $27,000. Hedge funds and other institutional investors 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.