Charles Schwab (NYSE:SCHW) Price Target Raised to $65.00

Charles Schwab (NYSE:SCHW) had its price target upped by Piper Sandler from $64.00 to $65.00 in a research report report published on Wednesday, Benzinga reports. Piper Sandler currently has a neutral rating on the financial services provider’s stock.

SCHW has been the topic of several other research reports. Jefferies Financial Group reduced their price target on shares of Charles Schwab from $79.00 to $73.00 and set a “buy” rating on the stock in a research report on Friday, October 4th. JMP Securities upped their target price on Charles Schwab from $82.00 to $84.00 and gave the stock a “market outperform” rating in a report on Wednesday. JPMorgan Chase & Co. lowered their target price on Charles Schwab from $82.00 to $78.00 and set an “overweight” rating for the company in a research note on Wednesday, July 17th. Bank of America reduced their price target on Charles Schwab from $72.00 to $66.00 and set an “underperform” rating on the stock in a research note on Wednesday, July 17th. Finally, Wells Fargo & Company began coverage on shares of Charles Schwab in a report on Thursday, September 12th. They set an “equal weight” rating and a $70.00 target price on the stock. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $73.59.

Charles Schwab Trading Down 0.8 %

NYSE SCHW opened at $71.34 on Wednesday. The stock has a market cap of $126.87 billion, a P/E ratio of 29.60, a price-to-earnings-growth ratio of 1.47 and a beta of 0.97. Charles Schwab has a fifty-two week low of $48.66 and a fifty-two week high of $79.49. The stock has a 50 day simple moving average of $64.97 and a two-hundred day simple moving average of $69.52. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.42 and a current ratio of 0.42.

Charles Schwab (NYSE:SCHW) last announced its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $0.77 EPS for the quarter, topping 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 18.14% and a net margin of 26.30%. The firm’s revenue was up 5.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.77 earnings per share. On average, analysts forecast that Charles Schwab will post 3.06 earnings per share for the current year.

Charles Schwab Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Friday, August 9th were given a $0.25 dividend. The ex-dividend date was Friday, August 9th. This represents a $1.00 annualized dividend and a yield of 1.40%. Charles Schwab’s dividend payout ratio (DPR) is presently 41.49%.

Insider Buying and Selling at Charles Schwab

In related news, insider Paul V. Woolway sold 1,150 shares of the stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $65.20, for a total transaction of $74,980.00. Following the sale, the insider now directly owns 61,887 shares of the company’s stock, valued at $4,035,032.40. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $64.05, for a total transaction of $576,450.00. Following the completion of the transaction, the director now directly owns 554,929 shares of the company’s stock, valued at $35,543,202.45. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Paul V. Woolway sold 1,150 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $65.20, for a total transaction of $74,980.00. Following the completion of the sale, the insider now owns 61,887 shares in the company, valued at $4,035,032.40. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 182,001 shares of company stock worth $12,512,592. Insiders own 6.60% of the company’s stock.

Hedge Funds Weigh In On Charles Schwab

Several hedge funds and other institutional investors have recently modified their holdings of SCHW. Price T Rowe Associates Inc. MD increased its position in Charles Schwab by 4.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 72,306,560 shares of the financial services provider’s stock valued at $5,230,657,000 after acquiring an additional 2,946,327 shares during the last quarter. Darsana Capital Partners LP grew its stake in shares of Charles Schwab by 200.0% during the 2nd quarter. Darsana Capital Partners LP now owns 3,000,000 shares of the financial services provider’s stock valued at $221,070,000 after purchasing an additional 2,000,000 shares during the period. Mondrian Investment Partners LTD lifted its stake in shares of Charles Schwab by 28,736.1% in the 1st quarter. Mondrian Investment Partners LTD now owns 1,485,637 shares of the financial services provider’s stock worth $107,471,000 after purchasing an additional 1,480,485 shares during the period. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of Charles Schwab in the first quarter worth approximately $105,563,000. Finally, Westwood Holdings Group Inc. grew its position in Charles Schwab by 231.2% during the first quarter. Westwood Holdings Group Inc. now owns 1,498,929 shares of the financial services provider’s stock valued at $108,433,000 after buying an additional 1,046,322 shares during the period. 84.38% of the stock is owned by institutional investors.

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.