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Frank C. Herringer, a director at Charles Schwab Corp (NYSE:SCHW), has reported a significant sale of company stock. On April 21, Herringer sold 3,592 shares at a weighted average price of $74.257, generating approximately $266,731. This transaction was executed through a trust, as indicated in the filing. The sale represents a small fraction of Schwab’s $139.48 billion market capitalization, with the company maintaining its position as a prominent player in the Capital Markets industry.
In addition to the sale, Herringer exercised options to acquire 8,548 shares of Schwab common stock at a price of $31.21 per share. These shares were subsequently contributed to a revocable trust, as noted in the filing. Following these transactions, Herringer holds 172,162 shares indirectly through the trust and 50,625 shares indirectly through his spouse. According to InvestingPro data, Schwab trades at an attractive PEG ratio of 0.59 and has maintained dividend payments for 37 consecutive years, suggesting strong fundamental value. For deeper insights into Schwab’s valuation and growth prospects, investors can access the comprehensive Pro Research Report, available exclusively on InvestingPro.
In other recent news, Charles Schwab Corp (BVMF:SCHW34). announced adjusted earnings per share (EPS) of $1.04, surpassing both consensus and several analysts’ estimates. The company attributed its strong performance to increased revenues and a lower tax rate, which offset some higher expenses. Following these results, Keefe Bruyette & Woods raised their price target to $93, while TD Cowen increased theirs to $95, both maintaining positive ratings on the stock. Citi also maintained a Buy rating with a $102 price target, highlighting Schwab’s growth in net new assets and improved trading volumes. Truist Securities, however, slightly reduced their price target to $84 due to economic uncertainties, although they kept a Buy rating, indicating confidence in Schwab’s potential. JMP Securities reiterated a Market Outperform rating with a $94 target, noting Schwab’s effective management in a challenging macroeconomic environment. Analysts generally praised Schwab’s strategic initiatives, including stock repurchases and capital return plans, as factors supporting future growth. These developments reflect a broadly positive outlook from analysts regarding Charles Schwab’s financial health and market position.
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