Wells Fargo & Company Cuts Charles Schwab (NYSE:SCHW) Price Target to $89.00

Charles Schwab (NYSE:SCHW) had its target price reduced by Wells Fargo & Company from $90.00 to $89.00 in a research report released on Tuesday morning,Benzinga reports. They currently have an equal weight rating on the financial services provider’s stock.

A number of other equities analysts have also weighed in on SCHW. Citigroup cut their price objective on shares of Charles Schwab from $85.00 to $80.00 and set a “neutral” rating for the company in a research report on Friday, January 10th. Truist Financial upgraded Charles Schwab to a “strong-buy” rating in a report on Monday, January 6th. Bank of America lowered their price objective on Charles Schwab from $63.00 to $61.00 and set an “underperform” rating for the company in a research report on Wednesday, October 16th. JPMorgan Chase & Co. increased their target price on Charles Schwab from $87.00 to $93.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 7th. Finally, Deutsche Bank Aktiengesellschaft raised their price target on Charles Schwab from $77.00 to $80.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Charles Schwab has a consensus rating of “Moderate Buy” and a consensus target price of $81.63.

Charles Schwab Stock Performance

Charles Schwab stock opened at $75.40 on Tuesday. Charles Schwab has a fifty-two week low of $59.67 and a fifty-two week high of $83.35. The company has a market capitalization of $134.19 billion, a price-to-earnings ratio of 29.45, a PEG ratio of 1.19 and a beta of 0.99. The stock has a fifty day moving average of $77.58 and a two-hundred day moving average of $70.60. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.47 and a current ratio of 0.47.

Charles Schwab (NYSE:SCHW) last posted its quarterly earnings data 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 firm had revenue of $4.85 billion during the quarter, compared to analysts’ expectations of $4.78 billion. Charles Schwab had a return on equity of 16.92% and a net margin of 27.47%. The firm’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.77 EPS. On average, analysts anticipate that Charles Schwab will post 3.13 EPS for the current fiscal year.

Charles Schwab Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Friday, November 8th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.33%. The ex-dividend date was Friday, November 8th. Charles Schwab’s dividend payout ratio is presently 39.06%.

Insider Buying and Selling

In related news, Director Christopher V. Dodds sold 9,284 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $81.43, for a total transaction of $755,996.12. Following the transaction, the director now directly owns 442,807 shares of the company’s stock, valued at approximately $36,057,774.01. The trade was a 2.05 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Nigel J. Murtagh sold 12,739 shares of the stock in a transaction that occurred 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 sale, the insider now directly owns 59,092 shares of the company’s stock, valued at $4,796,497.64. This trade represents a 17.73 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 26,823 shares of company stock valued at $2,171,194. Company insiders own 6.60% of the company’s stock.

Hedge Funds Weigh In On Charles Schwab

Institutional investors have recently added to or reduced their stakes in the company. Alliance Wealth Advisors LLC lifted its stake in shares of Charles Schwab by 2.7% in the third quarter. Alliance Wealth Advisors LLC now owns 5,358 shares of the financial services provider’s stock worth $347,000 after acquiring an additional 142 shares in the last quarter. Michael S. Ryan Inc. increased its holdings in Charles Schwab by 2.5% during the 4th quarter. Michael S. Ryan Inc. now owns 5,998 shares of the financial services provider’s stock worth $444,000 after purchasing an additional 144 shares during the last quarter. GS Investments Inc. raised its position in shares of Charles Schwab by 0.3% in the 3rd quarter. GS Investments Inc. now owns 57,434 shares of the financial services provider’s stock valued at $3,722,000 after purchasing an additional 146 shares in the last quarter. Relyea Zuckerberg Hanson LLC boosted its stake in shares of Charles Schwab by 2.8% during the 4th quarter. Relyea Zuckerberg Hanson LLC now owns 5,413 shares of the financial services provider’s stock valued at $401,000 after buying an additional 148 shares during the last quarter. Finally, Washington Trust Advisors Inc. grew its position in shares of Charles Schwab by 62.6% during the third quarter. Washington Trust Advisors Inc. now owns 387 shares of the financial services provider’s stock worth $25,000 after buying an additional 149 shares in the last quarter. 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.