The Charles Schwab Corporation (NYSE:SCHW) declared a quarterly dividend on Thursday, October 19th, RTT News reports. Investors of record on Friday, November 10th will be given a dividend of 0.08 per share by the financial services provider on Friday, November 24th. This represents a $0.32 dividend on an annualized basis and a yield of 0.71%. The ex-dividend date of this dividend is Thursday, November 9th.
The Charles Schwab Corporation has increased its dividend payment by an average of 4.0% per year over the last three years. The Charles Schwab Corporation has a payout ratio of 19.8% meaning its dividend is sufficiently covered by earnings. Research analysts expect The Charles Schwab Corporation to earn $1.96 per share next year, which means the company should continue to be able to cover its $0.32 annual dividend with an expected future payout ratio of 16.3%.
Shares of The Charles Schwab Corporation (SCHW) opened at 44.91 on Friday. The stock has a market capitalization of $60.13 billion, a price-to-earnings ratio of 28.61 and a beta of 1.68. The Charles Schwab Corporation has a one year low of $30.66 and a one year high of $46.21. The firm has a 50-day moving average of $43.20 and a 200 day moving average of $41.36.
The Charles Schwab Corporation (NYSE:SCHW) last issued its quarterly earnings data on Wednesday, October 18th. The financial services provider reported $0.42 EPS for the quarter, beating the Zacks’ consensus estimate of $0.41 by $0.01. The firm had revenue of $2.17 billion for the quarter, compared to analysts’ expectations of $2.18 billion. The Charles Schwab Corporation had a net margin of 27.30% and a return on equity of 16.07%. The firm’s revenue was up 13.1% on a year-over-year basis. During the same period in the prior year, the company earned $0.35 EPS. On average, equities research analysts predict that The Charles Schwab Corporation will post $1.62 EPS for the current year.
A number of equities research analysts recently commented on SCHW shares. Deutsche Bank AG lowered their price objective on shares of The Charles Schwab Corporation from $47.00 to $46.00 and set a “buy” rating on the stock in a research note on Tuesday, July 4th. Morgan Stanley reaffirmed an “overweight” rating and set a $48.00 price target (up from $45.00) on shares of The Charles Schwab Corporation in a research note on Monday, July 10th. Citigroup Inc. began coverage on shares of The Charles Schwab Corporation in a research note on Thursday, July 13th. They set a “neutral” rating and a $46.00 price target on the stock. Rosenblatt Securities began coverage on shares of The Charles Schwab Corporation in a research note on Thursday, July 13th. They set a “neutral” rating and a $46.00 price target on the stock. Finally, BidaskClub cut shares of The Charles Schwab Corporation from a “buy” rating to a “hold” rating in a research note on Wednesday, July 19th. Six equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $47.07.
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In other The Charles Schwab Corporation news, Chairman Charles R. Schwab sold 350,000 shares of The Charles Schwab Corporation stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $43.10, for a total value of $15,085,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Terri R. Kallsen sold 2,000 shares of the firm’s stock in a transaction on Wednesday, August 2nd. The shares were sold at an average price of $43.07, for a total value of $86,140.00. Following the completion of the sale, the executive vice president now owns 5,212 shares in the company, valued at $224,480.84. The disclosure for this sale can be found here. Insiders have sold 1,067,798 shares of company stock valued at $46,645,783 in the last three months. Corporate insiders own 12.00% of the company’s stock.
The Charles Schwab Corporation Company Profile
The Charles Schwab Corporation (CSC) is a savings and loan holding company. The Company, through its subsidiaries, engages in wealth management, securities brokerage, banking, money management and financial advisory services. The Company provides financial services to individuals and institutional clients through two segments: Investor Services and Advisor Services.
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