Charles Schwab (NYSE:SCHW) PT Lowered to $67.00

Charles Schwab (NYSE:SCHW) had its price target cut by stock analysts at The Goldman Sachs Group from $71.00 to $67.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm presently has a “neutral” rating on the financial services provider’s stock. The Goldman Sachs Group’s price objective indicates a potential upside of 4.00% from the company’s previous close.

Several other brokerages have also commented on SCHW. JMP Securities decreased their target price on shares of Charles Schwab from $85.00 to $82.00 and set a “market outperform” rating on the stock in a research report on Tuesday, July 23rd. Deutsche Bank Aktiengesellschaft upped their target price on shares of Charles Schwab from $79.00 to $80.00 and gave the stock a “buy” rating in a research report on Thursday, August 15th. Piper Sandler downgraded shares of Charles Schwab from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $80.00 to $64.00 in a research report on Monday, July 29th. Keefe, Bruyette & Woods reissued an “outperform” rating and set a $80.00 price target on shares of Charles Schwab in a research note on Thursday, August 22nd. Finally, Barclays dropped their price objective on Charles Schwab from $77.00 to $68.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 17th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Charles Schwab presently has a consensus rating of “Hold” and an average price target of $73.31.

Charles Schwab Trading Up 0.9 %

NYSE SCHW opened at $64.42 on Thursday. Charles Schwab has a 52-week low of $48.66 and a 52-week high of $79.49. The firm has a 50-day moving average price of $64.10 and a 200 day moving average price of $69.81. The stock has a market capitalization of $114.57 billion, a P/E ratio of 26.95, a P/E/G ratio of 1.21 and a beta of 0.97. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 0.65.

Charles Schwab (NYSE:SCHW) last issued its earnings results on Tuesday, July 16th. The financial services provider reported $0.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.72 by $0.01. Charles Schwab had a return on equity of 18.14% and a net margin of 26.30%. The business had revenue of $4.69 billion during the quarter, compared to the consensus estimate of $4.68 billion. During the same period in the prior year, the business posted $0.75 EPS. The company’s revenue for the quarter was up .7% on a year-over-year basis. Equities research analysts expect that Charles Schwab will post 3.05 EPS for the current year.

Insider Transactions at Charles Schwab

In related news, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the company’s stock in a transaction that occurred on Friday, July 19th. The shares were sold at an average price of $61.96, for a total transaction of $557,640.00. Following the transaction, the director now owns 567,057 shares of the company’s stock, valued at $35,134,851.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, Chairman Charles R. Schwab sold 67,386 shares of the company’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $65.11, for a total transaction of $4,387,502.46. Following the completion of the transaction, the chairman now owns 60,619,371 shares of the company’s stock, valued at approximately $3,946,927,245.81. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the firm’s stock in a transaction that occurred on Friday, July 19th. The stock was sold at an average price of $61.96, for a total transaction of $557,640.00. Following the completion of the sale, the director now directly owns 567,057 shares in the company, valued at $35,134,851.72. The disclosure for this sale can be found here. Insiders sold a total of 99,636 shares of company stock worth $6,457,104 over the last ninety days. 6.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Charles Schwab

Institutional investors and hedge funds have recently bought and sold shares of the stock. Gryphon Financial Partners LLC purchased a new stake in shares of Charles Schwab during the 4th quarter valued at $466,000. Edmond DE Rothschild Holding S.A. boosted its holdings in Charles Schwab by 12.1% in the fourth quarter. Edmond DE Rothschild Holding S.A. now owns 11,361 shares of the financial services provider’s stock valued at $782,000 after acquiring an additional 1,229 shares during the last quarter. Stifel Financial Corp grew its position in Charles Schwab by 9.0% during the fourth quarter. Stifel Financial Corp now owns 1,269,438 shares of the financial services provider’s stock valued at $87,339,000 after acquiring an additional 104,749 shares during the period. Focus Financial Network Inc. ADV acquired a new stake in Charles Schwab during the fourth quarter worth about $2,650,000. Finally, Legacy Advisors LLC increased its stake in Charles Schwab by 17.3% during the fourth quarter. Legacy Advisors LLC now owns 6,167 shares of the financial services provider’s stock worth $424,000 after acquiring an additional 911 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.