JPMorgan Chase & Co. Increases Charles Schwab (NYSE:SCHW) Price Target to $87.00

Charles Schwab (NYSE:SCHW) had its price objective upped by research analysts at JPMorgan Chase & Co. from $86.00 to $87.00 in a research note issued on Wednesday, Benzinga reports. The brokerage currently has an “overweight” rating on the financial services provider’s stock. JPMorgan Chase & Co.‘s price target indicates a potential upside of 19.36% from the company’s previous close.

A number of other equities analysts have also commented on the stock. The Goldman Sachs Group raised their target price on shares of Charles Schwab from $67.00 to $74.00 and gave the stock a “neutral” rating in a research report on Wednesday. Cowen increased their price objective on shares of Charles Schwab from $69.00 to $75.00 and gave the company a “hold” rating in a research note on Tuesday. Barclays dropped their price objective on shares of Charles Schwab from $77.00 to $68.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 17th. Citigroup dropped their price objective on shares of Charles Schwab from $75.00 to $72.00 and set a “neutral” rating on the stock in a research note on Friday, September 27th. Finally, JMP Securities raised their target price on shares of Charles Schwab from $82.00 to $84.00 and gave the company a “market outperform” rating in a research note on Wednesday. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, Charles Schwab presently has an average rating of “Hold” and a consensus price target of $73.53.

Charles Schwab Price Performance

Shares of NYSE SCHW traded up $0.93 during mid-day trading on Wednesday, hitting $72.89. 5,372,060 shares of the company’s stock traded hands, compared to its average volume of 8,069,395. The company’s 50-day moving average is $64.42 and its two-hundred day moving average is $69.49. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.42 and a quick ratio of 0.42. The company has a market capitalization of $129.63 billion, a P/E ratio of 30.24, a PEG ratio of 1.43 and a beta of 0.97. Charles Schwab has a 1 year low of $48.66 and a 1 year high of $79.49.

Charles Schwab (NYSE:SCHW) last announced its earnings results 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. The firm had revenue of $4.85 billion for the quarter, compared to analysts’ expectations of $4.78 billion. Charles Schwab had a net margin of 26.30% and a return on equity of 18.14%. The business’s revenue was up 5.2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.77 EPS. On average, equities analysts anticipate that Charles Schwab will post 3.06 EPS for the current fiscal year.

Insider Activity at Charles Schwab

In related news, insider Paul V. Woolway sold 1,150 shares of Charles Schwab stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $65.20, for a total value of $74,980.00. Following the completion of the transaction, the insider now directly owns 61,887 shares in the company, valued at approximately $4,035,032.40. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, insider Paul V. Woolway sold 1,150 shares of Charles Schwab stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $65.20, for a total value of $74,980.00. Following the completion of the transaction, the insider now directly owns 61,887 shares in the company, valued at approximately $4,035,032.40. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Carolyn Schwab-Pomerantz sold 9,000 shares of Charles Schwab stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $64.05, for a total value of $576,450.00. Following the sale, the director now directly owns 554,929 shares of the company’s stock, valued at $35,543,202.45. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 98,856 shares of company stock worth $6,398,604. Company insiders own 6.60% of the company’s stock.

Hedge Funds Weigh In On Charles Schwab

Several institutional investors and hedge funds have recently added to or reduced their stakes in SCHW. M&G Plc purchased a new stake in shares of Charles Schwab during the 1st quarter worth approximately $11,452,000. Teewinot Capital Advisers L.L.C. lifted its stake in Charles Schwab by 9.0% in the 2nd quarter. Teewinot Capital Advisers L.L.C. now owns 775,161 shares of the financial services provider’s stock valued at $57,122,000 after buying an additional 64,041 shares in the last quarter. Daiwa Securities Group Inc. lifted its stake in Charles Schwab by 10.4% in the 1st quarter. Daiwa Securities Group Inc. now owns 190,597 shares of the financial services provider’s stock valued at $13,788,000 after buying an additional 17,925 shares in the last quarter. Wedmont Private Capital lifted its stake in shares of Charles Schwab by 12.2% during the 1st quarter. Wedmont Private Capital now owns 13,130 shares of the financial services provider’s stock worth $949,000 after purchasing an additional 1,430 shares during the period. Finally, Iowa State Bank lifted its stake in shares of Charles Schwab by 37.9% during the 3rd quarter. Iowa State Bank now owns 28,476 shares of the financial services provider’s stock worth $1,846,000 after purchasing an additional 7,829 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.