Charles Schwab (NYSE:SCHW) Price Target Raised to $105.00

Charles Schwab (NYSE:SCHW) had its target price hoisted by Citigroup from $102.00 to $105.00 in a research note released on Monday,Benzinga reports. The brokerage currently has a buy rating on the financial services provider’s stock.

Several other brokerages have also weighed in on SCHW. Redburn Atlantic upgraded shares of Charles Schwab from a “sell” rating to a “neutral” rating and upped their target price for the stock from $65.00 to $82.00 in a research report on Monday, June 9th. Morgan Stanley raised their price objective on shares of Charles Schwab from $76.00 to $83.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 13th. UBS Group raised their price objective on shares of Charles Schwab from $95.00 to $96.00 and gave the stock a “buy” rating in a research note on Tuesday, April 22nd. Piper Sandler raised their price objective on shares of Charles Schwab from $74.00 to $80.00 in a research note on Thursday, April 17th. Finally, Truist Financial raised their price objective on shares of Charles Schwab from $97.00 to $100.00 and gave the stock a “buy” rating in a research note on Monday, June 16th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and sixteen have assigned a buy rating to the company’s stock. According to MarketBeat, Charles Schwab has an average rating of “Moderate Buy” and a consensus target price of $90.85.

Charles Schwab Trading Up 0.4%

Shares of SCHW opened at $92.31 on Monday. The company has a current ratio of 0.53, a quick ratio of 0.53 and a debt-to-equity ratio of 0.53. The firm’s 50-day moving average is $88.12 and its two-hundred day moving average is $81.16. Charles Schwab has a twelve month low of $61.01 and a twelve month high of $92.80. The firm has a market capitalization of $167.72 billion, a P/E ratio of 27.97, a PEG ratio of 0.98 and a beta of 0.93.

Charles Schwab (NYSE:SCHW) last issued its 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 net margin of 31.71% and a return on equity of 18.31%. The company had revenue of $5.60 billion for the quarter, compared to analyst estimates of $5.46 billion. During the same period in the prior year, the business posted $0.74 earnings per share. On average, research analysts predict that Charles Schwab will post 4.22 earnings per share for the current fiscal year.

Charles Schwab Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 23rd. Shareholders of record on Friday, May 9th were paid a $0.27 dividend. The ex-dividend date of this dividend was Friday, May 9th. This represents a $1.08 annualized dividend and a yield of 1.17%. Charles Schwab’s payout ratio is currently 32.73%.

Insider Buying and Selling

In other Charles Schwab news, Director Paula A. Sneed sold 8,647 shares of Charles Schwab stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $88.06, for a total value of $761,454.82. Following the transaction, the director owned 105,654 shares in the company, valued at $9,303,891.24. This trade represents a 7.57% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, General Counsel Peter J. Morgan III sold 10,176 shares of Charles Schwab stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $87.39, for a total transaction of $889,280.64. The disclosure for this sale can be found here. Insiders have sold 119,905 shares of company stock worth $10,530,833 over the last 90 days. Company insiders own 6.30% of the company’s stock.

Hedge Funds Weigh In On Charles Schwab

A number of hedge funds have recently made changes to their positions in the stock. Atwood & Palmer Inc. acquired a new position in shares of Charles Schwab during the 1st quarter valued at $25,000. Westside Investment Management Inc. lifted its holdings in shares of 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 acquiring an additional 150 shares in the last quarter. CBIZ Investment Advisory Services LLC lifted its holdings in shares of Charles Schwab by 97.9% during the 1st quarter. CBIZ Investment Advisory Services LLC now owns 386 shares of the financial services provider’s stock valued at $30,000 after acquiring an additional 191 shares in the last quarter. Stone House Investment Management LLC acquired a new position in shares of Charles Schwab during the 1st quarter valued at $31,000. Finally, Activest Wealth Management lifted its holdings in shares of Charles Schwab by 6,650.0% during the 1st quarter. Activest Wealth Management now owns 405 shares of the financial services provider’s stock valued at $32,000 after acquiring an additional 399 shares in the last quarter. Institutional investors and hedge funds 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.