Charles Schwab (NYSE:SCHW) PT Raised to $65.00

Charles Schwab (NYSE:SCHW) had its price target increased by Piper Sandler from $64.00 to $65.00 in a 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 a number of other reports. JPMorgan Chase & Co. dropped their price target on shares of Charles Schwab from $82.00 to $78.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 17th. Citigroup dropped their target price on Charles Schwab from $75.00 to $72.00 and set a “neutral” rating on the stock in a report on Friday, September 27th. Keefe, Bruyette & Woods increased their price target on Charles Schwab from $76.00 to $81.00 and gave the company an “outperform” rating in a research note on Wednesday. UBS Group dropped their price objective on Charles Schwab from $91.00 to $90.00 and set a “buy” rating on the stock in a research note on Tuesday, July 9th. Finally, Cowen raised their target price on Charles Schwab from $69.00 to $75.00 and gave the company a “hold” rating in a research note on Tuesday, October 15th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $73.59.

Charles Schwab Stock Performance

Shares of SCHW stock opened at $71.36 on Wednesday. Charles Schwab has a 12-month low of $48.66 and a 12-month high of $79.49. 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 firm has a market capitalization of $126.91 billion, a price-to-earnings ratio of 29.61, a price-to-earnings-growth ratio of 1.47 and a beta of 0.97. The business has a 50 day simple moving average of $64.97 and a 200 day simple moving average of $69.51.

Charles Schwab (NYSE:SCHW) last released its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.75 by $0.02. Charles Schwab had a return on equity of 18.14% and a net margin of 26.30%. The company had revenue of $4.85 billion during the quarter, compared to analysts’ expectations of $4.78 billion. During the same quarter in the prior year, the business posted $0.77 earnings per share. The company’s revenue for the quarter was up 5.2% compared to the same quarter last year. On average, equities research analysts anticipate that Charles Schwab will post 3.06 EPS for the current year.

Charles Schwab Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Friday, August 9th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.40%. The ex-dividend date of this dividend was Friday, August 9th. Charles Schwab’s payout ratio is 41.49%.

Insider Transactions at Charles Schwab

In other Charles Schwab news, Chairman Charles R. Schwab sold 62,345 shares of the business’s stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $72.52, for a total transaction of $4,521,259.40. Following the sale, the chairman now directly owns 60,619,371 shares of the company’s stock, valued at $4,396,116,784.92. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Charles Schwab news, Chairman Charles R. Schwab sold 62,345 shares of Charles Schwab stock in a transaction dated 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 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Paul V. Woolway sold 1,150 shares of the 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 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 disclosure for this sale can be found here. Insiders have sold a total of 182,001 shares of company stock valued at $12,512,592 over the last ninety days. Corporate insiders own 6.60% of the company’s stock.

Hedge Funds Weigh In On Charles Schwab

A number of hedge funds have recently modified their holdings of the stock. Country Trust Bank bought a new position in Charles Schwab during the second quarter valued at approximately $26,000. American Capital Advisory LLC acquired a new stake in shares of Charles Schwab in the 2nd quarter valued at $27,000. Fortitude Family Office LLC boosted its holdings in Charles Schwab by 97.5% in the second quarter. Fortitude Family Office LLC now owns 389 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 192 shares in the last quarter. CGC Financial Services LLC acquired a new position in Charles Schwab during the second quarter worth $29,000. Finally, Mizuho Securities Co. Ltd. bought a new position in Charles Schwab during the second quarter valued at about $29,000. 84.38% of the stock is 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.