Charles Schwab (NYSE:SCHW) Given New $93.00 Price Target at Keefe, Bruyette & Woods

Charles Schwab (NYSE:SCHW) had its target price hoisted by analysts at Keefe, Bruyette & Woods from $90.00 to $93.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage currently has an “outperform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ target price points to a potential upside of 23.79% from the company’s current price.

Other analysts also recently issued research reports about the stock. Piper Sandler increased their target price on shares of Charles Schwab from $74.00 to $80.00 in a report on Thursday, April 17th. Redburn Partners decreased their price target on Charles Schwab from $70.00 to $68.00 and set a “sell” rating for the company in a research report on Friday, January 17th. Deutsche Bank Aktiengesellschaft upped their price objective on Charles Schwab from $98.00 to $105.00 and gave the company a “buy” rating in a research note on Wednesday, January 22nd. Barclays cut their price target on shares of Charles Schwab from $96.00 to $84.00 and set an “overweight” rating on the stock in a report on Monday, April 7th. Finally, Morgan Stanley raised shares of Charles Schwab from an “equal weight” rating to an “overweight” rating and set a $76.00 price objective on the stock in a research report on Tuesday, April 8th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $85.72.

Charles Schwab Trading Down 1.3 %

Shares of Charles Schwab stock opened at $75.13 on Tuesday. The stock has a 50 day moving average price of $77.02 and a two-hundred day moving average price of $76.74. Charles Schwab has a 52 week low of $61.01 and a 52 week high of $84.50. 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 stock has a market capitalization of $136.25 billion, a PE ratio of 25.13, a price-to-earnings-growth ratio of 0.99 and a beta of 0.91.

Charles Schwab (NYSE:SCHW) last released its quarterly earnings results on Thursday, April 17th. The financial services provider reported $1.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.01 by $0.03. The business had revenue of $5.60 billion during the quarter, compared to the consensus estimate of $5.46 billion. Charles Schwab had a return on equity of 18.20% and a net margin of 30.31%. During the same quarter in the previous year, the business earned $0.74 EPS. As a group, equities analysts anticipate that Charles Schwab will post 4.22 earnings per share for the current fiscal year.

Insider Activity at Charles Schwab

In related news, Chairman Walter W. Bettinger sold 464,629 shares of Charles Schwab stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $81.91, for a total value of $38,057,761.39. Following the completion of the sale, the chairman now owns 827,377 shares of the company’s stock, valued at $67,770,450.07. The trade was a 35.96 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, General Counsel Peter J. Morgan III sold 14,643 shares of the stock in a transaction dated Wednesday, January 22nd. The shares were sold at an average price of $80.70, for a total value of $1,181,690.10. The disclosure for this sale can be found here. Insiders have sold 513,081 shares of company stock valued at $41,903,066 over the last ninety days. Insiders own 6.30% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Norges Bank bought a new position in Charles Schwab in the 4th quarter worth $1,289,544,000. Kovitz Investment Group Partners LLC raised its stake in shares of Charles Schwab by 354.5% in the fourth quarter. Kovitz Investment Group Partners LLC now owns 11,005,881 shares of the financial services provider’s stock worth $814,545,000 after buying an additional 8,584,173 shares during the period. FMR LLC grew its stake in shares of Charles Schwab by 69.4% during the 4th quarter. FMR LLC now owns 9,700,013 shares of the financial services provider’s stock valued at $717,898,000 after acquiring an additional 3,974,940 shares during the period. Marshall Wace LLP increased its holdings in Charles Schwab by 742.0% in the 4th quarter. Marshall Wace LLP now owns 4,181,202 shares of the financial services provider’s stock worth $309,451,000 after acquiring an additional 3,684,640 shares in the last quarter. Finally, Primecap Management Co. CA raised its stake in Charles Schwab by 310.3% during the 4th quarter. Primecap Management Co. CA now owns 4,252,350 shares of the financial services provider’s stock worth $314,716,000 after acquiring an additional 3,216,000 shares during the period. 84.38% of the stock is currently owned by institutional investors.

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.