Charles Schwab (NYSE:SCHW) Price Target Raised to $121.00

Charles Schwab (NYSE:SCHW) had its target price hoisted by JPMorgan Chase & Co. from $119.00 to $121.00 in a report issued on Monday morning,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the financial services provider’s stock.

Other equities research analysts have also recently issued reports about the company. Zacks Research cut Charles Schwab from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 17th. Morgan Stanley lowered their target price on Charles Schwab to $130.00 and set an “overweight” rating for the company in a research note on Wednesday, October 1st. The Goldman Sachs Group reissued a “buy” rating and issued a $114.00 target price on shares of Charles Schwab in a research note on Friday, October 17th. TD Cowen lifted their target price on Charles Schwab from $129.00 to $134.00 and gave the company a “buy” rating in a research note on Friday, October 17th. Finally, William Blair lowered Charles Schwab from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 3rd. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, five have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $106.00.

Charles Schwab Trading Down 0.9%

SCHW stock opened at $94.24 on Monday. The business has a fifty day moving average price of $94.53 and a 200 day moving average price of $90.01. Charles Schwab has a fifty-two week low of $65.88 and a fifty-two week high of $99.59. The stock has a market capitalization of $171.06 billion, a price-to-earnings ratio of 22.07, a P/E/G ratio of 0.85 and a beta of 0.97. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.55 and a quick ratio of 0.55.

Charles Schwab (NYSE:SCHW) last released its quarterly earnings results on Thursday, October 16th. The financial services provider reported $1.31 earnings per share for the quarter, beating analysts’ consensus estimates of $1.25 by $0.06. Charles Schwab had a return on equity of 21.26% and a net margin of 35.93%.The firm had revenue of $6.14 billion during the quarter, compared to analysts’ expectations of $5.93 billion. During the same period last year, the firm posted $0.71 EPS. The business’s revenue was up 26.6% on a year-over-year basis. Analysts expect that Charles Schwab will post 4.22 EPS for the current fiscal year.

Charles Schwab declared that its board has authorized a stock buyback program on Thursday, July 24th that allows the company to buyback $20.00 billion in outstanding shares. This buyback authorization allows the financial services provider to purchase up to 11.6% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its stock is undervalued.

Insider Activity

In other Charles Schwab news, insider Nigel J. Murtagh sold 24,096 shares of Charles Schwab stock in a transaction dated Tuesday, July 29th. The stock was sold at an average price of $97.91, for a total transaction of $2,359,239.36. Following the transaction, the insider directly owned 58,999 shares in the company, valued at approximately $5,776,592.09. The trade was a 29.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Jonathan S. Beatty sold 6,144 shares of Charles Schwab stock in a transaction dated Thursday, August 28th. The stock was sold at an average price of $96.81, for a total value of $594,800.64. Following the transaction, the insider owned 11,923 shares in the company, valued at approximately $1,154,265.63. This represents a 34.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 267,128 shares of company stock valued at $26,232,077. Company insiders own 6.30% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Princeton Global Asset Management LLC bought a new stake in shares of Charles Schwab in the second quarter valued at about $25,000. Westside Investment Management Inc. lifted its holdings in shares of Charles Schwab by 75.0% in the first 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 in the last quarter. RMG Wealth Management LLC bought a new stake in shares of Charles Schwab in the second quarter valued at about $27,000. West Branch Capital LLC bought a new stake in shares of Charles Schwab in the third quarter valued at about $27,000. Finally, CBIZ Investment Advisory Services LLC lifted its holdings in shares of Charles Schwab by 97.9% in the first quarter. CBIZ Investment Advisory Services LLC now owns 386 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 191 shares in the last quarter. 84.38% of the stock is currently owned by institutional investors.

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 in the United States and internationally. The company operates in two segments, Investor Services and Advisor Services.