Piper Sandler Forecasts Strong Price Appreciation for Charles Schwab (NYSE:SCHW) Stock

Charles Schwab (NYSE:SCHW) had its price target hoisted by Piper Sandler from $65.00 to $70.00 in a report released on Tuesday morning,Benzinga reports. Piper Sandler currently has a neutral rating on the financial services provider’s stock.

A number of other equities analysts have also issued reports on SCHW. Morgan Stanley upped their target price on shares of Charles Schwab from $68.00 to $74.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 24th. Wells Fargo & Company upped their price objective on Charles Schwab from $75.00 to $90.00 and gave the stock an “equal weight” rating in a report on Thursday, December 12th. Citigroup lowered their target price on Charles Schwab from $75.00 to $72.00 and set a “neutral” rating for the company in a research note on Friday, September 27th. Jefferies Financial Group raised their price target on Charles Schwab from $84.00 to $94.00 and gave the company a “buy” rating in a report on Monday, December 9th. Finally, Barclays raised Charles Schwab from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $74.00 to $95.00 in a report on Monday, December 9th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $81.19.

Charles Schwab Stock Up 0.9 %

NYSE SCHW opened at $72.93 on Tuesday. The stock’s 50 day simple moving average is $77.53 and its 200 day simple moving average is $70.65. Charles Schwab has a one year low of $59.67 and a one year high of $83.35. The firm has a market cap of $129.79 billion, a PE ratio of 28.49, a price-to-earnings-growth ratio of 1.76 and a beta of 0.99. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.47 and a quick ratio of 0.47.

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

Charles Schwab Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Friday, November 8th were issued a $0.25 dividend. The ex-dividend date was Friday, November 8th. This represents a $1.00 annualized dividend and a dividend yield of 1.37%. Charles Schwab’s dividend payout ratio (DPR) is currently 39.06%.

Insider Transactions at Charles Schwab

In related news, insider Nigel J. Murtagh sold 12,739 shares of the business’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $81.17, for a total value of $1,034,024.63. Following the sale, the insider now directly owns 59,092 shares of the company’s stock, valued at approximately $4,796,497.64. The trade was a 17.73 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Jonathan S. Beatty sold 2,300 shares of the stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $82.01, for a total value of $188,623.00. Following the transaction, the insider now owns 18,069 shares of the company’s stock, valued at approximately $1,481,838.69. This trade represents a 11.29 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 118,968 shares of company stock valued at $8,842,821 over the last 90 days. 6.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On Charles Schwab

Large investors have recently bought and sold shares of the company. Victory Capital Management Inc. raised its holdings in Charles Schwab by 4.0% during the second quarter. Victory Capital Management Inc. now owns 579,518 shares of the financial services provider’s stock worth $42,705,000 after acquiring an additional 22,208 shares in the last quarter. Savant Capital LLC raised its stake in shares of Charles Schwab by 36.3% during the 2nd quarter. Savant Capital LLC now owns 16,133 shares of the financial services provider’s stock worth $1,189,000 after purchasing an additional 4,297 shares in the last quarter. Acadian Asset Management LLC grew its stake in shares of 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 buying an additional 38,260 shares in the last quarter. Oak Thistle LLC bought a new position in shares of Charles Schwab in the second quarter valued at $287,000. Finally, Prudential PLC increased its holdings in Charles Schwab by 45.9% during the second quarter. Prudential PLC now owns 57,604 shares of the financial services provider’s stock worth $4,245,000 after buying an additional 18,112 shares during the last quarter. Institutional investors and hedge funds 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.