JPMorgan Chase & Co. Issues Positive Forecast for Charles Schwab (NYSE:SCHW) Stock Price

Charles Schwab (NYSE:SCHW) had its target price increased by JPMorgan Chase & Co. from $87.00 to $93.00 in a research report released on Tuesday morning,Benzinga reports. The brokerage currently has an overweight rating on the financial services provider’s stock.

Other research analysts also recently issued reports about the stock. Deutsche Bank Aktiengesellschaft upped their target price on shares of Charles Schwab from $77.00 to $80.00 and gave the company a “buy” rating in a research report on Monday, November 11th. Barclays raised shares of Charles Schwab from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $74.00 to $95.00 in a report on Monday, December 9th. JMP Securities restated a “market outperform” rating and issued a $94.00 price target (up from $84.00) on shares of Charles Schwab in a research report on Monday, December 9th. StockNews.com raised Charles Schwab from a “sell” rating to a “hold” rating in a research note on Wednesday, October 16th. Finally, The Goldman Sachs Group boosted their target price on Charles Schwab from $67.00 to $74.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 16th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $81.19.

Charles Schwab Trading Down 3.1 %

Shares of SCHW opened at $72.15 on Tuesday. Charles Schwab has a 52-week low of $59.67 and a 52-week high of $83.35. The company has a market cap of $128.40 billion, a price-to-earnings ratio of 28.18, a PEG ratio of 1.76 and a beta of 0.99. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.47 and a current ratio of 0.47. The stock has a fifty day moving average price of $77.45 and a two-hundred day moving average price of $70.62.

Charles Schwab (NYSE:SCHW) last issued its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $0.77 earnings per share for the quarter, beating analysts’ consensus estimates of $0.75 by $0.02. The business had revenue of $4.85 billion during the quarter, compared to analyst estimates of $4.78 billion. Charles Schwab had a net margin of 27.47% and a return on equity of 16.92%. Charles Schwab’s revenue for the quarter was up 5.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.77 earnings per share. Analysts predict that Charles Schwab will post 3.12 EPS for the current fiscal year.

Charles Schwab Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Friday, November 8th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.00 annualized dividend and a dividend yield of 1.39%. Charles Schwab’s dividend payout ratio is currently 39.06%.

Insider Activity

In other Charles Schwab news, Chairman Charles R. Schwab sold 62,345 shares of the business’s stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $72.52, for a total transaction of $4,521,259.40. Following the transaction, the chairman now owns 60,619,371 shares of the company’s stock, valued at $4,396,116,784.92. The trade was a 0.10 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Nigel J. Murtagh sold 12,739 shares of the firm’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $81.17, for a total transaction of $1,034,024.63. Following the completion of the transaction, the insider now directly owns 59,092 shares of the company’s stock, valued at $4,796,497.64. This represents a 17.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 118,968 shares of company stock worth $8,842,821 over the last ninety days. Insiders own 6.60% of the company’s stock.

Institutional Investors Weigh In On Charles Schwab

Hedge funds have recently bought and sold shares of the company. Benjamin Edwards Inc. lifted its position in shares of Charles Schwab by 2,840.7% in the third quarter. Benjamin Edwards Inc. now owns 6,146 shares of the financial services provider’s stock valued at $398,000 after buying an additional 5,937 shares during the last quarter. Synovus Financial Corp lifted its holdings in Charles Schwab by 46.0% during the 3rd quarter. Synovus Financial Corp now owns 67,889 shares of the financial services provider’s stock valued at $4,400,000 after purchasing an additional 21,377 shares during the last quarter. Patten & Patten Inc. TN boosted its position in Charles Schwab by 155.9% during the third quarter. Patten & Patten Inc. TN now owns 104,168 shares of the financial services provider’s stock worth $6,751,000 after purchasing an additional 63,463 shares during the period. Equity Investment Corp increased its holdings in shares of Charles Schwab by 9.4% in the third quarter. Equity Investment Corp now owns 1,640,157 shares of the financial services provider’s stock valued at $106,299,000 after purchasing an additional 140,643 shares during the last quarter. Finally, Teewinot Capital Advisers L.L.C. raised its position in shares of Charles Schwab by 9.0% in the second 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 purchasing an additional 64,041 shares during the period. 84.38% of the stock is currently owned by institutional investors and hedge funds.

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.