Charles Schwab (NYSE:SCHW) Stock Gets Price Target Trim from Morgan Stanley

Charles Schwab (NYSE:SCHW) had its price target cut by Morgan Stanley from $141.00 to $132.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage presently has an “overweight” rating on the financial services provider’s stock. Morgan Stanley’s price target would suggest a potential upside of 43.50% from the company’s current price.

A number of other equities analysts also recently weighed in on SCHW. Bank of America increased their price target on shares of Charles Schwab from $91.00 to $95.00 and gave the stock an “underperform” rating in a research note on Monday, October 5th. Piper Sandler lowered their price objective on shares of Charles Schwab from $118.00 to $100.00 and set a “neutral” rating for the company in a research note on Friday, October 2nd. Barclays lowered their price objective on shares of Charles Schwab from $118.00 to $115.00 and set an “overweight” rating for the company in a research note on Friday, October 16th. The Goldman Sachs Group restated a “buy” rating and set a $117.00 price objective (down from $122.00) on shares of Charles Schwab in a report on Friday, October 16th. Finally, Truist Financial set a $115.00 target price on Charles Schwab in a research report on Friday. Eighteen equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $120.18.

Charles Schwab Trading Up 1.2%

Shares of NYSE SCHW traded up $1.09 on Wednesday, reaching $91.98. 1,860,021 shares of the company traded hands, compared to its average volume of 10,054,807. The stock has a market capitalization of $159.07 billion, a PE ratio of 15.67, a P/E/G ratio of 0.79 and a beta of 0.79. Charles Schwab has a fifty-two week low of $83.96 and a fifty-two week high of $114.53. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 0.52. The company has a 50 day moving average of $103.79 and a 200 day moving average of $98.14.

Charles Schwab (NYSE:SCHW) last released its earnings results on Thursday, October 15th. The financial services provider reported $1.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.66 by $0.03. Charles Schwab had a net margin of 39.33% and a return on equity of 25.79%. The business had revenue of $7.17 billion for the quarter, compared to analysts’ expectations of $7.18 billion. During the same period last year, the company earned $1.31 earnings per share. The company’s quarterly revenue was up 16.9% on a year-over-year basis. On average, equities research analysts forecast that Charles Schwab will post 6.43 earnings per share for the current fiscal year.

Insider Activity

In other Charles Schwab news, General Counsel Peter Morgan, III sold 6,952 shares of Charles Schwab stock in a transaction that occurred on Thursday, July 23rd. The shares were sold at an average price of $102.03, for a total transaction of $709,312.56. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Nigel Murtagh sold 32,947 shares of the business’s stock in a transaction that occurred on Monday, July 27th. The stock was sold at an average price of $104.01, for a total transaction of $3,426,817.47. Following the sale, the insider owned 57,972 shares of the company’s stock, valued at approximately $6,029,667.72. This represents a 36.24% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 639,529 shares of company stock valued at $68,923,436 over the last quarter. 6.30% of the stock is owned by insiders.

Institutional Trading of Charles Schwab

A number of institutional investors have recently added to or reduced their stakes in SCHW. Compass Financial Management LLC acquired a new stake in shares of Charles Schwab in the second quarter valued at about $27,000. Scarborough Advisors LLC purchased a new stake in shares of Charles Schwab during the 1st quarter valued at about $29,000. Main Street Group LTD acquired a new position in Charles Schwab during the 1st quarter worth approximately $33,000. J.Safra Asset Management Corp acquired a new position in Charles Schwab during the 2nd quarter worth approximately $39,000. Finally, Washington Trust Advisors Inc. boosted its holdings in Charles Schwab by 118.0% in the 2nd quarter. Washington Trust Advisors Inc. now owns 447 shares of the financial services provider’s stock worth $41,000 after acquiring an additional 242 shares during the period. 84.38% of the stock is owned by hedge funds and other institutional investors.

Charles Schwab Company Profile

The Charles Schwab Corporation (NYSE: SCHW) is a financial services company that provides investment, wealth management, banking and related services to individual investors, financial professionals and institutional clients. Through its brokerage business, Schwab offers trading and custody services for stocks, exchange-traded funds, mutual funds, options, fixed-income securities and other investments, along with retirement accounts and investment research tools.

The company also provides advisory and wealth management services, including managed portfolios, financial planning and support for registered investment advisors.