Truist Financial Cuts Charles Schwab (NYSE:SCHW) Price Target to $84.00

Charles Schwab (NYSE:SCHW) had its price objective reduced by investment analysts at Truist Financial from $85.00 to $84.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the financial services provider’s stock. Truist Financial’s target price points to a potential upside of 12.99% from the stock’s previous close.

Other equities research analysts also recently issued reports about the company. TD Cowen upgraded Charles Schwab from a “hold” rating to a “buy” rating and increased their price target for the stock from $88.00 to $103.00 in a report on Tuesday, February 18th. Redburn Partners reduced their price target on shares of Charles Schwab from $70.00 to $68.00 and set a “sell” rating on the stock in a research note on Friday, January 17th. Morgan Stanley raised shares of Charles Schwab from an “equal weight” rating to an “overweight” rating and set a $76.00 price target for the company in a research note on Tuesday, April 8th. Citigroup upgraded Charles Schwab from a “neutral” rating to a “buy” rating and upped their target price for the stock from $85.00 to $102.00 in a report on Wednesday, April 2nd. Finally, Wells Fargo & Company lowered their price objective on shares of Charles Schwab from $93.00 to $87.00 and set an “overweight” rating for the company in a research note on Tuesday, April 8th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $85.56.

Charles Schwab Trading Down 2.4 %

SCHW traded down $1.81 on Monday, hitting $74.34. The company had a trading volume of 1,890,046 shares, compared to its average volume of 9,271,165. Charles Schwab has a 12-month low of $61.01 and a 12-month high of $84.50. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 0.59. The business’s fifty day simple moving average is $77.16 and its 200 day simple moving average is $76.67. The company has a market cap of $134.82 billion, a PE ratio of 24.86, a PEG ratio of 0.99 and a beta of 0.91.

Charles Schwab (NYSE:SCHW) last issued its quarterly earnings results on Thursday, April 17th. The financial services provider reported $1.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.01 by $0.03. Charles Schwab had a return on equity of 18.20% and a net margin of 30.31%. The company had revenue of $5.60 billion during the quarter, compared to the consensus estimate of $5.46 billion. During the same period last year, the company earned $0.74 earnings per share. Equities research analysts expect that Charles Schwab will post 4.22 EPS for the current year.

Insider Activity at Charles Schwab

In other Charles Schwab news, Chairman Walter W. Bettinger sold 464,629 shares of the business’s stock in a transaction on Wednesday, February 12th. The shares were sold at an average price of $81.91, for a total value of $38,057,761.39. Following the completion of the transaction, the chairman now owns 827,377 shares in the company, valued at $67,770,450.07. The trade was a 35.96 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Arun Sarin sold 8,548 shares of the stock in a transaction on Thursday, January 23rd. The shares were sold at an average price of $81.82, for a total value of $699,397.36. Following the completion of the sale, the director now owns 18,617 shares in the company, valued at approximately $1,523,242.94. The trade was a 31.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 513,081 shares of company stock worth $41,903,066. 6.30% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Charles Schwab

A number of institutional investors and hedge funds have recently modified their holdings of SCHW. Atwood & Palmer Inc. acquired a new position in shares of Charles Schwab in the 1st quarter valued at $25,000. WFA Asset Management Corp purchased a new stake in Charles Schwab in the first quarter valued at approximately $33,000. Murphy & Mullick Capital Management Corp purchased a new position in shares of Charles Schwab during the fourth quarter worth approximately $38,000. Atala Financial Inc acquired a new position in shares of Charles Schwab in the 4th quarter valued at $41,000. Finally, Investors Research Corp boosted its stake in Charles Schwab by 75.2% during the 1st quarter. Investors Research Corp now owns 559 shares of the financial services provider’s stock worth $44,000 after purchasing an additional 240 shares during the period. Institutional investors and hedge funds 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.