Charles Schwab (NYSE:SCHW) Given New $83.00 Price Target at Morgan Stanley

Charles Schwab (NYSE:SCHW) had its target price raised by Morgan Stanley from $76.00 to $83.00 in a report issued on Tuesday morning,Benzinga reports. The firm currently has an overweight rating on the financial services provider’s stock.

Several other brokerages also recently weighed in on SCHW. Barclays reduced their price target on Charles Schwab from $96.00 to $84.00 and set an “overweight” rating on the stock in a report on Monday, April 7th. Deutsche Bank Aktiengesellschaft lifted their target price on Charles Schwab from $98.00 to $105.00 and gave the company a “buy” rating in a research report on Wednesday, January 22nd. JPMorgan Chase & Co. lifted their target price on Charles Schwab from $92.00 to $95.00 and gave the company an “overweight” rating in a research report on Monday, April 21st. Wells Fargo & Company decreased their target price on Charles Schwab from $93.00 to $87.00 and set an “overweight” rating for the company in a research report on Tuesday, April 8th. Finally, Citigroup raised Charles Schwab from a “neutral” rating to a “buy” rating and lifted their target price for the company from $85.00 to $102.00 in a research report on Wednesday, April 2nd. Two analysts have rated the stock with a sell rating, three have given a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, Charles Schwab has an average rating of “Moderate Buy” and a consensus price target of $87.61.

Charles Schwab Trading Up 1.0%

Shares of NYSE SCHW opened at $86.21 on Tuesday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.47 and a current ratio of 0.47. The business’s 50 day moving average price is $77.86 and its 200-day moving average price is $78.08. Charles Schwab has a fifty-two week low of $61.01 and a fifty-two week high of $87.00. The company has a market cap of $156.35 billion, a price-to-earnings ratio of 28.83, a PEG ratio of 0.99 and a beta of 0.90.

Charles Schwab (NYSE:SCHW) last issued its quarterly earnings results on Thursday, April 17th. The financial services provider reported $1.04 earnings per share for the quarter, topping the consensus estimate of $1.01 by $0.03. Charles Schwab had a return on equity of 18.20% and a net margin of 30.31%. The firm had revenue of $5.60 billion for the quarter, compared to the consensus estimate of $5.46 billion. During the same period in the prior year, the business posted $0.74 earnings per share. On average, sell-side analysts expect that Charles Schwab will post 4.22 earnings per share for the current year.

Charles Schwab Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 23rd. Investors of record on Friday, May 9th will be paid a dividend of $0.27 per share. The ex-dividend date is Friday, May 9th. This represents a $1.08 annualized dividend and a yield of 1.25%. Charles Schwab’s dividend payout ratio (DPR) is 32.73%.

Insider Buying and Selling

In other Charles Schwab news, insider Paul V. Woolway sold 9,887 shares of the business’s stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $75.38, for a total transaction of $745,282.06. Following the sale, the insider now owns 47,931 shares in the company, valued at approximately $3,613,038.78. The trade was a 17.10% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Frank C. Herringer sold 3,592 shares of the business’s stock in a transaction dated Monday, April 21st. The shares were sold at an average price of $74.26, for a total value of $266,741.92. Following the sale, the director now owns 172,162 shares in the company, valued at approximately $12,784,750.12. The trade was a 2.04% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 38,412 shares of company stock worth $3,014,797 in the last ninety days. 6.30% of the stock is owned by insiders.

Institutional Trading of Charles Schwab

Large investors have recently added to or reduced their stakes in the company. Atwood & Palmer Inc. purchased a new stake in Charles Schwab during the 1st quarter valued at about $25,000. Westside Investment Management Inc. grew its stake in Charles Schwab by 75.0% during the 1st quarter. Westside Investment Management Inc. now owns 350 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 150 shares during the last quarter. Stone House Investment Management LLC purchased a new stake in shares of Charles Schwab in the first quarter worth about $31,000. WFA Asset Management Corp purchased a new stake in shares of Charles Schwab in the first quarter worth about $33,000. Finally, Cornerstone Planning Group LLC boosted its stake in shares of Charles Schwab by 90.5% in the first quarter. Cornerstone Planning Group LLC now owns 463 shares of the financial services provider’s stock worth $36,000 after buying an additional 220 shares during the last quarter. Hedge funds and other institutional investors own 84.38% of the company’s stock.

About Charles Schwab

The Charles Schwab Corporation, together with its subsidiaries, operates as a savings and loan holding company that provides wealth management, securities brokerage, banking, asset management, custody, and financial advisory services in the United States and internationally. The company operates in two segments, Investor Services and Advisor Services.