Redburn Partners Has Lowered Expectations for Charles Schwab (NYSE:SCHW) Stock Price

Charles Schwab (NYSE:SCHW) had its target price reduced by Redburn Partners from $70.00 to $68.00 in a note issued to investors on Friday. The firm currently has a “sell” rating on the financial services provider’s stock. Redburn Partners’ price objective would indicate a potential downside of 11.08% from the company’s current price.

Several other research firms have also recently weighed in on SCHW. JPMorgan Chase & Co. upped their price objective on shares of Charles Schwab from $87.00 to $93.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 7th. Truist Financial raised shares of Charles Schwab to a “strong-buy” rating in a report on Monday, January 6th. Citigroup dropped their price objective on shares of Charles Schwab from $85.00 to $80.00 and set a “neutral” rating for the company in a report on Friday, January 10th. Wells Fargo & Company lowered their price target on Charles Schwab from $90.00 to $89.00 and set an “equal weight” rating on the stock in a research report on Tuesday. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on Charles Schwab from $77.00 to $80.00 and gave the stock a “buy” rating in a report on Monday, November 11th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $81.41.

Charles Schwab Price Performance

NYSE:SCHW traded up $0.96 during trading hours on Friday, hitting $76.47. The stock had a trading volume of 6,194,801 shares, compared to its average volume of 7,882,430. The firm has a market capitalization of $136.09 billion, a price-to-earnings ratio of 29.86, a P/E/G ratio of 1.19 and a beta of 0.99. Charles Schwab has a one year low of $61.01 and a one year high of $83.35. The company has a 50 day simple moving average of $77.58 and a two-hundred day simple moving average of $70.60. 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 posted its quarterly earnings data 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. Charles Schwab had a return on equity of 16.92% and a net margin of 27.47%. The company had revenue of $4.85 billion during the quarter, compared to analyst estimates of $4.78 billion. During the same quarter last year, the company earned $0.77 earnings per share. The firm’s quarterly revenue was up 5.2% on a year-over-year basis. Research analysts forecast that Charles Schwab will post 3.13 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Charles Schwab news, insider Jonathan S. Beatty sold 2,300 shares of the 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 completion of the sale, the insider now owns 18,069 shares in the company, valued at approximately $1,481,838.69. This trade represents a 11.29 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Christopher V. Dodds sold 9,284 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $81.43, for a total value of $755,996.12. Following the transaction, the director now directly owns 442,807 shares in the company, valued at $36,057,774.01. This trade represents a 2.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 26,823 shares of company stock valued at $2,171,194 over the last ninety days. 6.60% of the stock is owned by insiders.

Institutional Investors Weigh In On Charles Schwab

Large investors have recently modified their holdings of the stock. Washington Trust Advisors Inc. lifted its holdings in Charles Schwab by 62.6% in the third quarter. Washington Trust Advisors Inc. now owns 387 shares of the financial services provider’s stock worth $25,000 after buying an additional 149 shares during the period. Capital Performance Advisors LLP purchased a new position in shares of Charles Schwab in the 3rd quarter valued at approximately $25,000. Prospera Private Wealth LLC bought a new stake in shares of Charles Schwab during the third quarter valued at approximately $31,000. Future Financial Wealth Managment LLC purchased a new stake in Charles Schwab in the third quarter worth $32,000. Finally, Hazlett Burt & Watson Inc. bought a new position in Charles Schwab in the third quarter worth $33,000. Institutional investors own 84.38% of the company’s stock.

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.