Charles Schwab (SCHW) Lifted to “Hold” at ValuEngine

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ValuEngine upgraded shares of Charles Schwab (NYSE:SCHW) from a sell rating to a hold rating in a report issued on Tuesday, ValuEngine reports.

SCHW has been the topic of a number of other reports. Zacks Investment Research upgraded shares of Charles Schwab from a hold rating to a buy rating and set a $47.00 price target on the stock in a research note on Thursday, January 3rd. Credit Suisse Group upped their price target on shares of Charles Schwab from $50.00 to $54.00 and gave the company an outperform rating in a research note on Thursday, January 17th. UBS Group cut shares of Charles Schwab from a neutral rating to a sell rating and dropped their price target for the company from $48.00 to $42.00 in a research note on Wednesday, February 20th. Wells Fargo & Co dropped their price target on shares of Charles Schwab from $48.00 to $47.00 and set a market perform rating on the stock in a research note on Friday, April 5th. Finally, Wolfe Research upgraded shares of Charles Schwab from an underperform rating to a market perform rating in a research note on Tuesday, January 8th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and ten have issued a buy rating to the stock. The stock presently has an average rating of Buy and a consensus price target of $53.22.

Shares of SCHW stock opened at $45.55 on Tuesday. The company has a market cap of $60.61 billion, a P/E ratio of 18.59, a price-to-earnings-growth ratio of 1.46 and a beta of 1.32. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.83 and a current ratio of 1.08. Charles Schwab has a 12 month low of $37.83 and a 12 month high of $60.22.

Charles Schwab (NYSE:SCHW) last announced its quarterly earnings results on Monday, April 15th. The financial services provider reported $0.69 EPS for the quarter, beating the Zacks’ consensus estimate of $0.66 by $0.03. The company had revenue of $2.72 billion for the quarter, compared to analysts’ expectations of $2.67 billion. Charles Schwab had a net margin of 35.27% and a return on equity of 20.79%. Charles Schwab’s revenue was up 13.6% compared to the same quarter last year. During the same period in the prior year, the company posted $0.55 EPS. As a group, research analysts forecast that Charles Schwab will post 2.75 EPS for the current year.

Charles Schwab announced that its board has initiated a stock buyback program on Wednesday, January 30th that permits the company to repurchase $4.00 billion in outstanding shares. This repurchase authorization permits the financial services provider to repurchase up to 6.3% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

In other Charles Schwab news, EVP Nigel J. Murtagh sold 23,200 shares of the stock in a transaction that occurred on Wednesday, April 17th. The shares were sold at an average price of $45.70, for a total value of $1,060,240.00. Following the sale, the executive vice president now directly owns 39,875 shares in the company, valued at approximately $1,822,287.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Charles R. Schwab sold 250,000 shares of the stock in a transaction that occurred on Friday, February 1st. The stock was sold at an average price of $47.04, for a total transaction of $11,760,000.00. The disclosure for this sale can be found here. Insiders sold a total of 383,617 shares of company stock worth $17,906,122 over the last quarter. Corporate insiders own 10.90% of the company’s stock.

Several large investors have recently modified their holdings of the company. Vanguard Group Inc increased its holdings in shares of Charles Schwab by 0.9% in the 3rd quarter. Vanguard Group Inc now owns 88,586,138 shares of the financial services provider’s stock worth $4,354,008,000 after buying an additional 820,257 shares during the last quarter. Northern Trust Corp increased its holdings in shares of Charles Schwab by 2.1% in the 4th quarter. Northern Trust Corp now owns 16,655,792 shares of the financial services provider’s stock worth $691,715,000 after buying an additional 336,557 shares during the last quarter. Parnassus Investments CA increased its holdings in shares of Charles Schwab by 22.3% in the 4th quarter. Parnassus Investments CA now owns 15,623,778 shares of the financial services provider’s stock worth $648,856,000 after buying an additional 2,850,678 shares during the last quarter. Harris Associates L P increased its holdings in shares of Charles Schwab by 197.1% in the 4th quarter. Harris Associates L P now owns 13,940,097 shares of the financial services provider’s stock worth $578,932,000 after buying an additional 9,248,471 shares during the last quarter. Finally, Geode Capital Management LLC increased its holdings in shares of Charles Schwab by 5.9% in the 4th quarter. Geode Capital Management LLC now owns 13,627,245 shares of the financial services provider’s stock worth $564,801,000 after buying an additional 758,069 shares during the last quarter. 80.07% of the stock is currently owned by hedge funds and other institutional investors.

About Charles Schwab

The Charles Schwab Corporation, through its subsidiaries, provides wealth management, securities brokerage, banking, asset management, custody, and financial advisory services. The company operates through two segments, Investor Services and Advisor Services. The Investor Services segment provides retail brokerage and banking services, retirement plan services, and other corporate brokerage services; equity compensation plan sponsors full-service recordkeeping for stock plans, stock options, restricted stock, performance shares, and stock appreciation rights; and retail investor, retirement plan, and mutual fund clearing services.

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Analyst Recommendations for Charles Schwab (NYSE:SCHW)

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