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

The Charles Schwab Co. (NYSE:SCHW)’s stock price was up 0.3% on Wednesday after the company announced a dividend. The company traded as high as $75.49 and last traded at $75.43. Approximately 1,134,128 shares were traded during trading, a decline of 85% from the average daily 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. Shareholders of record on Friday, May 10th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.33%. Charles Schwab’s payout ratio is 41.84%.

Wall Street Analysts Forecast Growth

Several analysts have commented on SCHW shares. Keefe, Bruyette & Woods upped their target price on shares of Charles Schwab from $75.00 to $76.00 and gave the company a “market perform” rating in a research report on Tuesday, April 16th. Morgan Stanley upped their target price on shares of Charles Schwab from $65.00 to $71.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 9th. The Goldman Sachs Group reiterated a “neutral” rating and set a $71.00 target price (up previously from $70.00) on shares of Charles Schwab in a research report on Wednesday, January 3rd. TD Cowen upped their target price on shares of Charles Schwab from $87.00 to $92.00 and gave the company a “buy” rating in a research report on Tuesday, April 16th. Finally, Piper Sandler upped their price objective 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. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $74.47.

Charles Schwab Price Performance

The firm has a market capitalization of $133.54 billion, a price-to-earnings ratio of 31.43, a P/E/G ratio of 1.09 and a beta of 1.01. The company’s 50 day moving average is $69.02 and its 200-day moving average is $63.52. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.82.

Insider Activity at Charles Schwab

In related news, Chairman Charles R. Schwab sold 71,226 shares of the firm’s stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $64.99, for a total value of $4,628,977.74. Following the completion of the sale, the chairman now directly owns 61,251,038 shares in the company, valued at approximately $3,980,704,959.62. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, CFO Peter B. Crawford sold 8,000 shares of the business’s stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $64.76, for a total transaction of $518,080.00. Following the completion of the sale, the chief financial officer now owns 29,611 shares in the company, valued at $1,917,608.36. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Chairman Charles R. Schwab sold 71,226 shares of the business’s stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $64.99, for a total value of $4,628,977.74. Following the sale, the chairman now owns 61,251,038 shares of the company’s stock, valued at approximately $3,980,704,959.62. The disclosure for this sale can be found here. In the last ninety days, insiders sold 299,892 shares of company stock worth $20,325,334. Insiders own 6.60% of the company’s stock.

Institutional Investors Weigh In On Charles Schwab

A number of institutional investors have recently made changes to their positions in SCHW. Tributary Capital Management LLC acquired a new stake in shares of Charles Schwab in the first quarter valued at approximately $31,000. Sugarloaf Wealth Management LLC raised its position in shares of Charles Schwab by 60.0% in the fourth quarter. Sugarloaf Wealth Management LLC now owns 440 shares of the financial services provider’s stock valued at $30,000 after buying an additional 165 shares in the last quarter. Frazier Financial Advisors LLC acquired a new position in Charles Schwab during the fourth quarter valued at approximately $30,000. Wetzel Investment Advisors Inc. acquired a new position in Charles Schwab during the fourth quarter valued at approximately $31,000. Finally, Hall Laurie J Trustee acquired a new position in Charles Schwab during the fourth quarter valued at approximately $34,000. 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.