Charles Schwab (NYSE:SCHW) Price Target Cut to $64.00 by Analysts at Barclays

Charles Schwab (NYSE:SCHW) had its target price lowered by Barclays from $70.00 to $64.00 in a research note published on Monday morning, Marketbeat reports. Barclays currently has an equal weight rating on the financial services provider’s stock.

A number of other research analysts also recently weighed in on SCHW. JMP Securities increased their price target on Charles Schwab from $73.00 to $77.00 in a research note on Wednesday, July 19th. StockNews.com raised Charles Schwab from a sell rating to a hold rating in a research note on Sunday. Jefferies Financial Group raised their price objective on Charles Schwab from $64.00 to $66.00 in a research note on Monday, July 10th. Morgan Stanley raised their price objective on Charles Schwab from $68.00 to $71.00 and gave the stock an equal weight rating in a research note on Friday, July 28th. Finally, Wolfe Research dropped their price objective on Charles Schwab from $62.00 to $60.00 in a research note on Monday, June 26th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and an average price target of $72.28.

Charles Schwab Stock Performance

SCHW stock opened at $57.87 on Monday. The business’s fifty day moving average is $61.68 and its 200-day moving average is $57.11. The company has a quick ratio of 0.39, a current ratio of 0.39 and a debt-to-equity ratio of 0.80. The company has a market cap of $102.44 billion, a P/E ratio of 16.87, a price-to-earnings-growth ratio of 2.00 and a beta of 0.92. Charles Schwab has a twelve month low of $45.00 and a twelve month high of $86.63.

Charles Schwab (NYSE:SCHW) last posted its quarterly earnings results on Tuesday, July 18th. The financial services provider reported $0.75 earnings per share for the quarter, beating analysts’ consensus estimates of $0.71 by $0.04. The company had revenue of $4.66 billion for the quarter, compared to the consensus estimate of $4.61 billion. Charles Schwab had a return on equity of 27.54% and a net margin of 33.15%. The firm’s quarterly revenue was down 8.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.97 EPS. Equities research analysts forecast that Charles Schwab will post 3.27 EPS for the current year.

Charles Schwab Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 25th. Stockholders of record on Friday, August 11th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.73%. The ex-dividend date of this dividend was Thursday, August 10th. Charles Schwab’s payout ratio is 29.15%.

Insider Activity

In other news, Chairman Charles R. Schwab sold 75,760 shares of the firm’s stock in a transaction dated Wednesday, July 26th. The stock was sold at an average price of $66.60, for a total value of $5,045,616.00. Following the completion of the transaction, the chairman now owns 59,672,778 shares in the company, valued at approximately $3,974,207,014.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Chairman Charles R. Schwab sold 75,760 shares of Charles Schwab stock in a transaction dated Wednesday, July 26th. The stock was sold at an average price of $66.60, for a total transaction of $5,045,616.00. Following the completion of the transaction, the chairman now owns 59,672,778 shares in the company, valued at $3,974,207,014.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Charles A. Ruffel purchased 833 shares of Charles Schwab stock in a transaction that occurred on Thursday, August 17th. The shares were acquired at an average price of $60.55 per share, with a total value of $50,438.15. Following the acquisition, the director now directly owns 3,386 shares of the company’s stock, valued at approximately $205,022.30. The disclosure for this purchase can be found here. Insiders sold 155,807 shares of company stock worth $10,325,149 in the last quarter. Corporate insiders own 6.60% of the company’s stock.

Hedge Funds Weigh In On Charles Schwab

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Bank Julius Baer & Co. Ltd Zurich lifted its position in Charles Schwab by 93,993.8% during the second quarter. Bank Julius Baer & Co. Ltd Zurich now owns 965,692,348 shares of the financial services provider’s stock worth $54,735,442,000 after acquiring an additional 964,666,040 shares during the last quarter. Norges Bank acquired a new stake in Charles Schwab during the fourth quarter worth approximately $1,325,555,000. CIBC Private Wealth Group LLC lifted its position in Charles Schwab by 107.1% during the fourth quarter. CIBC Private Wealth Group LLC now owns 16,784,516 shares of the financial services provider’s stock worth $1,399,817,000 after acquiring an additional 8,680,289 shares during the last quarter. Morgan Stanley lifted its position in Charles Schwab by 62.5% during the fourth quarter. Morgan Stanley now owns 22,255,649 shares of the financial services provider’s stock worth $1,853,005,000 after acquiring an additional 8,563,389 shares during the last quarter. Finally, Flossbach Von Storch AG lifted its position in Charles Schwab by 48.7% during the first quarter. Flossbach Von Storch AG now owns 16,619,849 shares of the financial services provider’s stock worth $870,548,000 after acquiring an additional 5,445,011 shares during the last quarter. Institutional investors own 81.61% of the company’s stock.

Charles Schwab Company Profile

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. The company operates in two segments, Investor Services and Advisor Services.