Charles Schwab (NYSE:SCHW) Price Target Raised to $92.00

Charles Schwab (NYSE:SCHW) had its price target increased by TD Cowen from $87.00 to $92.00 in a report published on Tuesday, Benzinga reports. The firm currently has a buy rating on the financial services provider’s stock.

A number of other research analysts have also recently commented on the company. JPMorgan Chase & Co. increased their price target on Charles Schwab from $86.00 to $89.00 and gave the company an overweight rating in a research note on Tuesday. Piper Sandler increased their price objective on Charles Schwab from $75.00 to $78.00 and gave the company an overweight rating in a report on Friday, April 12th. JMP Securities increased their price objective on Charles Schwab from $77.00 to $80.00 and gave the company a market outperform rating in a report on Tuesday, April 9th. Deutsche Bank Aktiengesellschaft increased their price objective on Charles Schwab from $75.00 to $77.00 and gave the company a buy rating in a report on Tuesday, March 19th. Finally, Keefe, Bruyette & Woods increased their price objective on Charles Schwab from $75.00 to $76.00 and gave the company a market perform rating in a report on Tuesday. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of Hold and an average price target of $74.47.

Charles Schwab Stock Up 0.6 %

Shares of SCHW opened at $72.92 on Tuesday. Charles Schwab has a 52 week low of $45.65 and a 52 week high of $73.88. The stock has a market capitalization of $129.51 billion, a price-to-earnings ratio of 30.51, a PEG ratio of 1.10 and a beta of 1.01. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.43 and a current ratio of 0.43. The stock has a fifty day moving average of $68.38 and a 200-day moving average of $62.89.

Charles Schwab (NYSE:SCHW) last announced its quarterly earnings results on Wednesday, January 17th. The financial services provider reported $0.68 EPS for the quarter, beating analysts’ consensus estimates of $0.64 by $0.04. Charles Schwab had a return on equity of 19.86% and a net margin of 26.14%. The company had revenue of $4.46 billion during the quarter, compared to analysts’ expectations of $4.49 billion. During the same period in the prior year, the company earned $1.07 EPS. Charles Schwab’s revenue was down 18.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that Charles Schwab will post 3.41 earnings per share for the current fiscal year.

Charles Schwab Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 23rd. Shareholders of record on Friday, February 9th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, February 8th. This represents a $1.00 dividend on an annualized basis and a yield of 1.37%. Charles Schwab’s payout ratio is currently 41.84%.

Insiders Place Their Bets

In other news, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the firm’s stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $65.29, for a total value of $587,610.00. Following the completion of the sale, the director now directly owns 585,057 shares in the company, valued at approximately $38,198,371.53. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other news, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the firm’s stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $65.29, for a total value of $587,610.00. Following the completion of the sale, the director now directly owns 585,057 shares in the company, valued at approximately $38,198,371.53. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Nigel J. Murtagh sold 29,991 shares of the firm’s stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $67.80, for a total value of $2,033,389.80. Following the completion of the sale, the insider now owns 81,446 shares of the company’s stock, valued at $5,522,038.80. The disclosure for this sale can be found here. In the last ninety days, insiders sold 312,800 shares of company stock worth $21,081,569. Company insiders own 6.60% of the company’s stock.

Institutional Trading of Charles Schwab

Large investors have recently made changes to their positions in the company. Vontobel Holding Ltd. lifted its position in Charles Schwab by 7.5% in the 1st quarter. Vontobel Holding Ltd. now owns 20,822 shares of the financial services provider’s stock valued at $1,847,000 after acquiring an additional 1,452 shares in the last quarter. Moors & Cabot Inc. lifted its position in Charles Schwab by 4.3% in the 1st quarter. Moors & Cabot Inc. now owns 6,263 shares of the financial services provider’s stock valued at $528,000 after acquiring an additional 259 shares in the last quarter. Sequoia Financial Advisors LLC lifted its position in Charles Schwab by 25.4% in the 1st quarter. Sequoia Financial Advisors LLC now owns 13,064 shares of the financial services provider’s stock valued at $1,101,000 after acquiring an additional 2,648 shares in the last quarter. Brighton Jones LLC lifted its position in Charles Schwab by 7.5% in the 1st quarter. Brighton Jones LLC now owns 3,807 shares of the financial services provider’s stock valued at $321,000 after acquiring an additional 267 shares in the last quarter. Finally, Covestor Ltd lifted its position in Charles Schwab by 16.6% in the 1st quarter. Covestor Ltd now owns 1,239 shares of the financial services provider’s stock valued at $104,000 after acquiring an additional 176 shares in the last quarter. 84.38% of the stock is currently owned by institutional investors and hedge funds.

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.