Charles Schwab (NYSE:SCHW) Upgraded to Strong-Buy at Truist Financial

Charles Schwab (NYSE:SCHW) was upgraded by equities research analysts at Truist Financial to a “strong-buy” rating in a research note issued to investors on Monday,Zacks.com reports.

A number of other brokerages have also issued reports on SCHW. Bank of America decreased their target price on shares of Charles Schwab from $63.00 to $61.00 and set an “underperform” rating on the stock in a research report on Wednesday, October 16th. Keefe, Bruyette & Woods lifted their price objective on Charles Schwab from $81.00 to $93.00 and gave the company an “outperform” rating in a report on Friday, December 20th. Barclays upgraded Charles Schwab from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $74.00 to $95.00 in a research report on Monday, December 9th. StockNews.com raised shares of Charles Schwab from a “sell” rating to a “hold” rating in a research report on Wednesday, October 16th. Finally, Wells Fargo & Company upped their price target on shares of Charles Schwab from $75.00 to $90.00 and gave the stock an “equal weight” rating in a report on Thursday, December 12th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $81.19.

Charles Schwab Trading Up 0.9 %

Shares of NYSE:SCHW opened at $72.93 on Monday. Charles Schwab has a 52-week low of $59.67 and a 52-week high of $83.35. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.47 and a current ratio of 0.47. The company has a market capitalization of $129.79 billion, a P/E ratio of 28.49, a price-to-earnings-growth ratio of 1.76 and a beta of 0.99. The company has a 50-day simple moving average of $77.49 and a 200 day simple moving average of $70.63.

Charles Schwab (NYSE:SCHW) last announced its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $0.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.75 by $0.02. The business had revenue of $4.85 billion during the quarter, compared to the consensus estimate of $4.78 billion. Charles Schwab had a return on equity of 16.92% and a net margin of 27.47%. The company’s quarterly revenue was up 5.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.77 EPS. Sell-side analysts forecast that Charles Schwab will post 3.12 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Nigel J. Murtagh sold 12,739 shares of Charles Schwab stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $81.17, for a total transaction of $1,034,024.63. Following the completion of the transaction, the insider now directly owns 59,092 shares in the company, valued at $4,796,497.64. This trade represents a 17.73 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jonathan S. Beatty sold 2,300 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $82.01, for a total value of $188,623.00. Following the sale, the insider now directly owns 18,069 shares of the company’s stock, valued at $1,481,838.69. This represents a 11.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 118,968 shares of company stock worth $8,842,821. Corporate insiders own 6.60% of the company’s stock.

Hedge Funds Weigh In On Charles Schwab

Several hedge funds have recently modified their holdings of the company. Acadian Asset Management LLC boosted its stake in Charles Schwab by 1,987.5% in the second quarter. Acadian Asset Management LLC now owns 40,185 shares of the financial services provider’s stock valued at $2,960,000 after acquiring an additional 38,260 shares during the last quarter. Coldstream Capital Management Inc. boosted its stake in Charles Schwab by 7.8% in the 2nd quarter. Coldstream Capital Management Inc. now owns 18,624 shares of the financial services provider’s stock worth $1,372,000 after purchasing an additional 1,352 shares during the period. LPL Financial LLC increased its position in shares of Charles Schwab by 8.9% during the second quarter. LPL Financial LLC now owns 1,118,318 shares of the financial services provider’s stock valued at $82,409,000 after buying an additional 91,267 shares during the period. Y.D. More Investments Ltd purchased a new stake in shares of Charles Schwab in the second quarter worth about $58,000. Finally, BOKF NA grew its stake in Charles Schwab by 23.2% during the second quarter. BOKF NA now owns 24,721 shares of the financial services provider’s stock valued at $1,822,000 after acquiring an additional 4,652 shares in the last quarter. Institutional investors own 84.38% of the company’s stock.

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.