Bank of America lowered shares of Charles Schwab (NYSE:SCHW) from a buy rating to a neutral rating in a research note published on Friday, BenzingaRatingsTable reports. They currently have $43.00 price target on the financial services provider’s stock, down from their prior price target of $49.00.
SCHW has been the topic of a number of other reports. ValuEngine cut shares of Virtu Financial from a hold rating to a sell rating in a research report on Tuesday, June 18th. Wells Fargo & Co reissued a hold rating on shares of AON in a research report on Friday, April 5th. Compass Point set a $52.00 target price on shares of E*TRADE Financial and gave the stock a buy rating in a research report on Tuesday, July 2nd. Citigroup cut shares of Apergy from a buy rating to a neutral rating and reduced their target price for the stock from $41.00 to $34.00 in a research report on Tuesday, July 9th. Finally, Deutsche Bank reissued a buy rating and set a GBX 4,000 ($52.27) target price on shares of in a research report on Tuesday, June 18th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and eight have assigned a buy rating to the company. Charles Schwab has a consensus rating of Hold and a consensus target price of $48.53.
SCHW opened at $40.30 on Friday. The company has a current ratio of 0.33, a quick ratio of 0.33 and a debt-to-equity ratio of 0.36. Charles Schwab has a 52-week low of $37.83 and a 52-week high of $54.26. The stock’s 50 day simple moving average is $41.25. The stock has a market capitalization of $53.38 billion, a P/E ratio of 16.45, a P/E/G ratio of 1.90 and a beta of 1.24.
Charles Schwab (NYSE:SCHW) last released its quarterly earnings data on Monday, April 15th. The financial services provider reported $0.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.66 by $0.03. Charles Schwab had a net margin of 35.27% and a return on equity of 20.47%. The company had revenue of $2.72 billion during the quarter, compared to the consensus estimate of $2.67 billion. During the same period in the previous year, the firm earned $0.55 earnings per share. Charles Schwab’s revenue for the quarter was up 13.6% on a year-over-year basis. As a group, equities research analysts anticipate that Charles Schwab will post 2.69 EPS for the current year.
In other Charles Schwab news, EVP Nigel J. Murtagh sold 23,200 shares of the stock in a transaction on Wednesday, April 17th. The shares were sold at an average price of $45.70, for a total transaction of $1,060,240.00. Following the sale, the executive vice president now directly owns 39,875 shares of the company’s stock, valued at $1,822,287.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Stephen T. Mclin sold 4,356 shares of the stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $43.85, for a total transaction of $191,010.60. Following the sale, the director now directly owns 7,592 shares in the company, valued at $332,909.20. The disclosure for this sale can be found here. Insiders sold 837,576 shares of company stock worth $38,210,674 over the last ninety days. 10.90% of the stock is currently owned by corporate insiders.
Several large investors have recently modified their holdings of the business. Norges Bank bought a new position in shares of Charles Schwab during the fourth quarter worth about $443,292,000. Harris Associates L P grew its position in shares of Charles Schwab by 197.1% during the fourth quarter. Harris Associates L P now owns 13,940,097 shares of the financial services provider’s stock worth $578,932,000 after acquiring an additional 9,248,471 shares during the last quarter. APG Asset Management N.V. grew its position in shares of Charles Schwab by 1,183.6% during the fourth quarter. APG Asset Management N.V. now owns 3,287,200 shares of the financial services provider’s stock worth $119,422,000 after acquiring an additional 3,031,100 shares during the last quarter. Clearbridge Investments LLC grew its position in shares of Charles Schwab by 24.0% during the first quarter. Clearbridge Investments LLC now owns 14,863,818 shares of the financial services provider’s stock worth $635,577,000 after acquiring an additional 2,880,846 shares during the last quarter. Finally, Vaughan Nelson Investment Management L.P. bought a new position in shares of Charles Schwab during the first quarter worth about $77,259,000. 78.70% of the stock is currently owned by institutional investors.
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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