Charles Schwab (NYSE:SCHW) had its target price dropped by research analysts at Citigroup from $43.50 to $39.50 in a report released on Tuesday, BenzingaRatingsTable reports. The firm presently has a “neutral” rating on the financial services provider’s stock. Citigroup‘s price objective would indicate a potential downside of 2.37% from the company’s previous close.
Several other equities analysts also recently commented on SCHW. Compass Point set a $52.00 price target on shares of E*TRADE Financial and gave the company a “buy” rating in a research note on Tuesday, July 2nd. ValuEngine downgraded shares of Virtu Financial from a “hold” rating to a “sell” rating in a research note on Tuesday, June 18th. Zacks Investment Research upgraded shares of Key Energy Services from a “hold” rating to a “buy” rating and set a $4.50 price target on the stock in a research note on Wednesday, March 13th. Deutsche Bank restated a “buy” rating and issued a GBX 4,000 ($52.27) price target on shares of in a research note on Tuesday, June 18th. Finally, Bank of America set a $180.00 price objective on shares of CME Group and gave the stock a “hold” rating in a research report on Tuesday, April 9th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and nine have assigned a buy rating to the company’s stock. Charles Schwab has an average rating of “Hold” and an average price target of $49.39.
Shares of NYSE:SCHW traded up $0.80 on Tuesday, hitting $40.46. The company had a trading volume of 6,561,708 shares, compared to its average volume of 7,175,309. Charles Schwab has a 1-year low of $37.83 and a 1-year high of $54.26. The company has a market cap of $54.55 billion, a PE ratio of 16.51, a price-to-earnings-growth ratio of 1.89 and a beta of 1.24. The stock’s 50 day moving average is $41.54. The company has a current ratio of 0.33, a quick ratio of 0.33 and a debt-to-equity ratio of 0.36.
Charles Schwab (NYSE:SCHW) last released its quarterly earnings data on Monday, April 15th. The financial services provider reported $0.69 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.66 by $0.03. Charles Schwab had a net margin of 35.27% and a return on equity of 20.47%. The firm had revenue of $2.72 billion for the quarter, compared to the consensus estimate of $2.67 billion. During the same period in the previous year, the company earned $0.55 earnings per share. The company’s quarterly revenue was up 13.6% on a year-over-year basis. On average, equities analysts predict that Charles Schwab will post 2.74 EPS for the current year.
In related news, EVP Jonathan M. Craig sold 3,740 shares of the firm’s stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $46.52, for a total value of $173,984.80. Following the completion of the transaction, the executive vice president now owns 66,190 shares in the company, valued at approximately $3,079,158.80. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Stephen T. Mclin sold 4,356 shares of the firm’s stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $43.85, for a total transaction of $191,010.60. Following the completion of the transaction, the director now owns 7,592 shares of the company’s stock, valued at approximately $332,909.20. The disclosure for this sale can be found here. Insiders sold 841,576 shares of company stock valued at $38,416,671 in the last three months. Company insiders own 10.90% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Northern Trust Corp increased its position in Charles Schwab by 0.3% during the 1st quarter. Northern Trust Corp now owns 16,708,657 shares of the financial services provider’s stock valued at $714,463,000 after purchasing an additional 52,865 shares during the period. Clearbridge Investments LLC increased its position in Charles Schwab by 24.0% during the 1st quarter. Clearbridge Investments LLC now owns 14,863,818 shares of the financial services provider’s stock valued at $635,577,000 after purchasing an additional 2,880,846 shares during the period. Harris Associates L P increased its position in Charles Schwab by 197.1% during the 4th quarter. Harris Associates L P now owns 13,940,097 shares of the financial services provider’s stock valued at $578,932,000 after purchasing an additional 9,248,471 shares during the period. Geode Capital Management LLC increased its position in Charles Schwab by 5.9% during the 4th quarter. Geode Capital Management LLC now owns 13,627,245 shares of the financial services provider’s stock valued at $564,801,000 after purchasing an additional 758,069 shares during the period. Finally, Norges Bank acquired a new stake in Charles Schwab during the 4th quarter valued at approximately $443,292,000. Institutional investors and hedge funds own 78.92% of the company’s stock.
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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