Charles Schwab (NYSE:SCHW) Upgraded at BMO Capital Markets

Charles Schwab (NYSE:SCHW) was upgraded by analysts at BMO Capital Markets to a “strong-buy” rating in a research note issued on Thursday,Zacks.com reports.

A number of other equities analysts also recently weighed in on SCHW. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Charles Schwab in a research note on Saturday, September 27th. Wells Fargo & Company set a $102.00 price target on shares of Charles Schwab and gave the stock an “overweight” rating in a research note on Friday, July 18th. Truist Financial set a $112.00 price target on shares of Charles Schwab in a research note on Thursday. Zacks Research downgraded shares of Charles Schwab from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 17th. Finally, Citigroup increased their price target on shares of Charles Schwab from $105.00 to $110.00 and gave the stock a “buy” rating in a research note on Monday, July 21st. One research 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 issued a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $100.52.

Charles Schwab Stock Performance

Shares of SCHW opened at $94.13 on Thursday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.55 and a current ratio of 0.55. The company has a market capitalization of $170.87 billion, a price-to-earnings ratio of 25.30, a PEG ratio of 0.90 and a beta of 0.97. The company’s 50 day simple moving average is $95.37 and its 200 day simple moving average is $88.57. Charles Schwab has a 1 year low of $64.07 and a 1 year high of $99.59.

Charles Schwab (NYSE:SCHW) last announced its quarterly earnings data on Friday, July 18th. The financial services provider reported $1.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.10 by $0.04. The business had revenue of $5.85 billion for the quarter, compared to the consensus estimate of $5.64 billion. Charles Schwab had a net margin of 33.68% and a return on equity of 19.30%. The company’s quarterly revenue was up 24.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.73 earnings per share. On average, sell-side analysts predict that Charles Schwab will post 4.22 EPS for the current year.

Charles Schwab announced that its board has initiated a stock repurchase program on Thursday, July 24th that allows the company to repurchase $20.00 billion in shares. This repurchase authorization allows the financial services provider to reacquire up to 11.6% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling

In related news, insider Paul V. Woolway sold 3,205 shares of the firm’s stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $93.33, for a total transaction of $299,122.65. Following the completion of the sale, the insider directly owned 34,778 shares of the company’s stock, valued at approximately $3,245,830.74. This trade represents a 8.44% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Peter J. Morgan III sold 50,016 shares of the firm’s stock in a transaction on Wednesday, August 27th. The shares were sold at an average price of $97.00, for a total transaction of $4,851,552.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 267,128 shares of company stock valued at $26,232,077. 6.30% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Charles Schwab

A number of large investors have recently added to or reduced their stakes in the company. HCR Wealth Advisors grew its holdings in Charles Schwab by 3.8% during the 3rd quarter. HCR Wealth Advisors now owns 13,540 shares of the financial services provider’s stock valued at $1,255,000 after purchasing an additional 495 shares in the last quarter. Summit Financial Wealth Advisors LLC acquired a new position in Charles Schwab during the 3rd quarter worth $216,000. Aaron Wealth Advisors LLC grew its holdings in Charles Schwab by 73.4% during the 3rd quarter. Aaron Wealth Advisors LLC now owns 32,625 shares of the financial services provider’s stock worth $3,115,000 after acquiring an additional 13,811 shares in the last quarter. West Oak Capital LLC grew its holdings in Charles Schwab by 3.9% during the 3rd quarter. West Oak Capital LLC now owns 36,067 shares of the financial services provider’s stock worth $3,443,000 after acquiring an additional 1,350 shares in the last quarter. Finally, GAMMA Investing LLC grew its holdings in Charles Schwab by 8.6% during the 3rd quarter. GAMMA Investing LLC now owns 35,041 shares of the financial services provider’s stock worth $3,345,000 after acquiring an additional 2,788 shares in the last quarter. 84.38% of the stock is owned by institutional investors and hedge funds.

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.