Charles Schwab Co. (NYSE:SCHW) declared a quarterly dividend on Wednesday, July 24th, NASDAQ reports. Stockholders of record on Friday, August 9th will be paid a dividend of 0.17 per share by the financial services provider on Friday, August 23rd. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.73%. The ex-dividend date is Thursday, August 8th.
Charles Schwab has raised its dividend payment by an average of 24.2% annually over the last three years and has increased its dividend every year for the last 3 years. Charles Schwab has a dividend payout ratio of 28.0% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Charles Schwab to earn $2.74 per share next year, which means the company should continue to be able to cover its $0.68 annual dividend with an expected future payout ratio of 24.8%.
Charles Schwab stock opened at $39.41 on Wednesday. The firm has a market capitalization of $54.40 billion, a price-to-earnings ratio of 16.09, a price-to-earnings-growth ratio of 2.68 and a beta of 1.25. Charles Schwab has a 52 week low of $37.83 and a 52 week high of $52.70. The business’s 50-day moving average is $41.19. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.33 and a current ratio of 0.33.
Several analysts recently commented on SCHW shares. Deutsche Bank lowered Charles Schwab from a “buy” rating to a “hold” rating and dropped their target price for the stock from $52.00 to $43.00 in a report on Tuesday, June 18th. ValuEngine lowered Charles Schwab from a “hold” rating to a “sell” rating in a report on Tuesday, June 18th. Compass Point set a $45.00 target price on Charles Schwab and gave the stock a “hold” rating in a report on Tuesday, July 2nd. JPMorgan Chase & Co. set a $44.00 target price on Charles Schwab and gave the stock a “buy” rating in a report on Friday, June 21st. Finally, Keefe, Bruyette & Woods lowered Charles Schwab from an “outperform” rating to a “market perform” rating and dropped their target price for the stock from $51.00 to $43.50 in a report on Friday, July 12th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and nine have given a buy rating to the company. Charles Schwab presently has a consensus rating of “Hold” and a consensus target price of $47.80.
In other Charles Schwab news, Director Mark A. Goldfarb bought 2,595 shares of Charles Schwab stock in a transaction on Monday, August 5th. The shares were bought at an average price of $38.68 per share, for a total transaction of $100,374.60. Following the completion of the transaction, the director now directly owns 3,771 shares of the company’s stock, valued at $145,862.28. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Jonathan M. Craig sold 3,740 shares of Charles Schwab stock in a transaction on Monday, July 15th. The shares were sold at an average price of $40.20, for a total value of $150,348.00. The disclosure for this sale can be found here. 10.90% of the stock is currently owned by company insiders.
About Charles Schwab
The Charles Schwab Corporation, through its subsidiaries, provides wealth management, securities brokerage, banking, asset management, custody, and financial advisory services. The company operates through two segments, Investor Services and Advisor Services. The Investor Services segment provides retail brokerage and banking services, retirement plan services, and other corporate brokerage services; equity compensation plan sponsors full-service recordkeeping for stock plans, stock options, restricted stock, performance shares, and stock appreciation rights; and retail investor, retirement plan, and mutual fund clearing services.
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