Today, The Charles Schwab Corp. (SCHW) Posts Earnings Results, Beats Estimates By $0.02 EPS

Today, The Charles Schwab Corp. (SCHW) Posts  Earnings Results, Beats Estimates By $0.02 EPS

The Charles Schwab Corp. (NYSE:SCHW) issued its quarterly earnings results on Monday. The company reported $0.35 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.33 by $0.02. The firm had revenue of $1.91 billion for the quarter, compared to analyst estimates of $1.89 billion. The Charles Schwab Corp. had a return on equity of 13.03% and a net margin of 24.07%.

Shares of The Charles Schwab Corp. (NYSE:SCHW) opened at 31.97 on Monday. The stock has a market cap of $42.30 billion, a P/E ratio of 27.56 and a beta of 1.55. The Charles Schwab Corp. has a one year low of $21.51 and a one year high of $34.52. The firm’s 50-day moving average price is $31.22 and its 200 day moving average price is $29.08.

In related news, EVP Terri R. Kallsen sold 6,894 shares of The Charles Schwab Corp. stock in a transaction on Friday, July 22nd. The stock was sold at an average price of $28.01, for a total value of $193,100.94. Following the transaction, the executive vice president now owns 17,822 shares in the company, valued at $499,194.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Marie A. Chandoha sold 6,076 shares of The Charles Schwab Corp. stock in a transaction on Tuesday, October 4th. The shares were sold at an average price of $32.00, for a total value of $194,432.00. The disclosure for this sale can be found here. Insiders own 12.60% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. FMR LLC boosted its position in shares of The Charles Schwab Corp. by 6.8% in the second quarter. FMR LLC now owns 23,322,699 shares of the company’s stock worth $590,299,000 after buying an additional 1,480,550 shares during the last quarter. BlackRock Fund Advisors boosted its position in shares of The Charles Schwab Corp. by 2.7% in the second quarter. BlackRock Fund Advisors now owns 14,798,673 shares of the company’s stock worth $374,554,000 after buying an additional 391,326 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its position in shares of The Charles Schwab Corp. by 52.7% in the second quarter. Massachusetts Financial Services Co. MA now owns 14,010,963 shares of the company’s stock worth $354,616,000 after buying an additional 4,837,623 shares during the last quarter. General Electric Co. boosted its position in shares of The Charles Schwab Corp. by 15.3% in the second quarter. General Electric Co. now owns 10,761,374 shares of the company’s stock worth $272,370,000 after buying an additional 1,429,486 shares during the last quarter. Finally, TIAA CREF Investment Management LLC boosted its position in shares of The Charles Schwab Corp. by 6.9% in the second quarter. TIAA CREF Investment Management LLC now owns 5,779,890 shares of the company’s stock worth $146,289,000 after buying an additional 371,276 shares during the last quarter. Hedge funds and other institutional investors own 76.48% of the company’s stock.

A number of equities analysts have weighed in on the company. Jefferies Group reissued a “buy” rating on shares of The Charles Schwab Corp. in a research note on Friday, August 5th. Barclays PLC boosted their price objective on The Charles Schwab Corp. from $29.00 to $34.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 9th. JMP Securities reissued an “outperform” rating and set a $32.00 price objective on shares of The Charles Schwab Corp. in a research note on Wednesday, July 20th. Nomura lowered their price objective on The Charles Schwab Corp. from $33.00 to $31.00 and set a “buy” rating on the stock in a research note on Monday, July 11th. Finally, Deutsche Bank AG reissued a “buy” rating on shares of The Charles Schwab Corp. in a research note on Sunday, July 10th. Five equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $33.45.

About The Charles Schwab Corp.

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