Evercore initiated coverage on shares of Charles Schwab (NYSE:SCHW – Free Report) in a report released on Monday morning, Marketbeat reports. The firm issued an in-line rating and a $107.00 target price on the financial services provider’s stock.
SCHW has been the subject of a number of other reports. Barclays decreased their price objective on Charles Schwab from $125.00 to $118.00 and set an “overweight” rating for the company in a research note on Wednesday, October 7th. Citigroup reaffirmed a “market outperform” rating on shares of Charles Schwab in a research report on Wednesday, July 22nd. Zacks Research lowered Charles Schwab from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 14th. Morgan Stanley lifted their target price on Charles Schwab from $136.00 to $141.00 and gave the company an “overweight” rating in a research note on Friday, October 9th. Finally, BMO Capital Markets downgraded shares of Charles Schwab from an “outperform” rating to a “market perform” rating and set a $105.00 target price for the company. in a report on Monday, July 20th. One research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Charles Schwab currently has a consensus rating of “Moderate Buy” and a consensus price target of $119.00.
View Our Latest Research Report on Charles Schwab
Charles Schwab Stock Performance
Charles Schwab (NYSE:SCHW – Get Free Report) last announced its earnings results on Tuesday, July 21st. The financial services provider reported $1.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.56 by $0.06. The business had revenue of $7.07 billion for the quarter, compared to analysts’ expectations of $6.90 billion. Charles Schwab had a return on equity of 24.53% and a net margin of 38.79%. The business’s revenue for the quarter was up 20.9% on a year-over-year basis. During the same quarter last year, the firm earned $1.14 EPS. On average, sell-side analysts predict that Charles Schwab will post 6.46 earnings per share for the current fiscal year.
Charles Schwab Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Friday, August 28th. Shareholders of record on Friday, August 14th were paid a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 1.3%. The ex-dividend date was Friday, August 14th. Charles Schwab’s dividend payout ratio (DPR) is 23.27%.
Insider Buying and Selling
In other Charles Schwab news, insider Nigel Murtagh sold 24,778 shares of Charles Schwab stock in a transaction on Monday, August 10th. The shares were sold at an average price of $109.01, for a total value of $2,701,049.78. Following the transaction, the insider directly owned 57,972 shares of the company’s stock, valued at approximately $6,319,527.72. The trade was a 29.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Paula Sneed sold 5,263 shares of the company’s stock in a transaction on Friday, August 7th. The stock was sold at an average price of $107.15, for a total value of $563,930.45. Following the transaction, the director directly owned 91,711 shares in the company, valued at approximately $9,826,833.65. The trade was a 5.43% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 645,582 shares of company stock valued at $69,553,935 over the last quarter. Insiders own 6.30% of the company’s stock.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Flossbach Von Storch SE purchased a new position in Charles Schwab during the second quarter worth approximately $987,930,000. Bank of New York Mellon Corp boosted its stake in Charles Schwab by 22.9% during the first quarter. Bank of New York Mellon Corp now owns 16,162,082 shares of the financial services provider’s stock worth $1,518,913,000 after buying an additional 3,009,884 shares during the last quarter. Danske Bank A S purchased a new stake in Charles Schwab in the 2nd quarter valued at $145,950,000. Vaughan Nelson Investment Management L.P. purchased a new stake in Charles Schwab in the 1st quarter valued at $129,140,000. Finally, Healthcare of Ontario Pension Plan Trust Fund grew its holdings in Charles Schwab by 63.4% in the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,786,512 shares of the financial services provider’s stock valued at $261,876,000 after buying an additional 1,081,382 shares in the last quarter. 84.38% of the stock is currently owned by hedge funds and other institutional investors.
Key Charles Schwab News
Here are the key news stories impacting Charles Schwab this week:
- Positive Sentiment: Expectations for an earnings beat and continued strength in asset gathering are the primary positive catalysts. Several reports describe the upcoming results as a potential trigger for further gains, while Erste Group raised its 2027 EPS forecast to $7.96 from $7.85. Charles Schwab’s Next Earnings Report Could Send the Stock Soaring
- Positive Sentiment: Deutsche Bank increased its price target to $130 from $125, indicating continued confidence in SCHW’s upside potential. Truist also maintained a Buy rating despite lowering its target to $125. Deutsche Bank Adjusts Price Target on Charles Schwab
- Neutral Sentiment: Options markets are pricing in a potentially large earnings-related move, signaling elevated volatility but not a specific direction for SCHW. Charles Schwab Could Swing After Earnings
- Neutral Sentiment: Evercore ISI initiated coverage with an In-Line rating, providing a balanced view that tempers some of the bullish earnings enthusiasm. Evercore ISI Initiates Coverage of Charles Schwab
- Negative Sentiment: Truist’s price-target reduction highlights valuation or near-term execution concerns, although the retained Buy rating limits the negative impact. Truist Charles Schwab Price Target Update
Charles Schwab Company Profile
Charles Schwab Corporation (NYSE:SCHW) is a financial services company that provides brokerage, investment, banking and wealth management services to individual investors, employers, institutions and independent investment advisors. Its offerings include online and mobile trading, securities brokerage, retirement accounts, financial planning, portfolio management, banking products, research and access to mutual funds and exchange-traded funds.
The company operates through businesses including Schwab Brokerage, Schwab Wealth Advisory, Schwab Asset Management and Charles Schwab Bank.
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