Truist Financial Issues Positive Forecast for Charles Schwab (NYSE:SCHW) Stock Price

Charles Schwab (NYSE:SCHW) had its price objective increased by Truist Financial from $90.00 to $91.00 in a research note published on Tuesday morning,Benzinga reports. Truist Financial currently has a buy rating on the financial services provider’s stock.

A number of other analysts have also recently commented on SCHW. Citigroup boosted their price objective on Charles Schwab from $80.00 to $85.00 and gave the company a “neutral” rating in a research report on Wednesday, January 22nd. Keefe, Bruyette & Woods upped their price objective on shares of Charles Schwab from $81.00 to $93.00 and gave the stock an “outperform” rating in a research report on Friday, December 20th. StockNews.com upgraded shares of Charles Schwab from a “sell” rating to a “hold” rating in a research report on Wednesday, October 16th. Wells Fargo & Company upgraded shares of Charles Schwab from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $89.00 to $93.00 in a research report on Wednesday, January 22nd. Finally, Morgan Stanley lifted their price objective on Charles Schwab from $84.00 to $91.00 and gave the stock an “equal weight” rating in a report on Thursday, February 6th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, Charles Schwab currently has an average rating of “Hold” and a consensus price target of $84.56.

Charles Schwab Stock Performance

Shares of NYSE SCHW opened at $83.51 on Tuesday. The company has a market capitalization of $148.61 billion, a PE ratio of 27.93, a price-to-earnings-growth ratio of 1.02 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 company’s fifty day moving average price is $77.99 and its 200 day moving average price is $71.99. Charles Schwab has a 1 year low of $61.01 and a 1 year high of $84.50.

Charles Schwab (NYSE:SCHW) last posted its earnings results on Tuesday, January 21st. The financial services provider reported $1.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.90 by $0.11. Charles Schwab had a net margin of 30.31% and a return on equity of 18.20%. The business had revenue of $5.33 billion for the quarter, compared to analyst estimates of $5.19 billion. During the same period in the prior year, the company posted $0.68 EPS. The company’s revenue for the quarter was up 19.5% on a year-over-year basis. On average, research analysts predict that Charles Schwab will post 4.18 earnings per share for the current year.

Charles Schwab Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, February 14th will be issued a dividend of $0.27 per share. The ex-dividend date is Friday, February 14th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.29%. This is an increase from Charles Schwab’s previous quarterly dividend of $0.25. Charles Schwab’s dividend payout ratio (DPR) is currently 33.44%.

Insider Buying and Selling

In other Charles Schwab news, Director Christopher V. Dodds sold 9,284 shares of the company’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $81.43, for a total value of $755,996.12. Following the transaction, the director now owns 442,807 shares of the company’s stock, valued at $36,057,774.01. This represents a 2.05 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Arun Sarin sold 8,548 shares of Charles Schwab stock in a transaction dated Thursday, January 23rd. The shares were sold at an average price of $81.82, for a total transaction of $699,397.36. Following the sale, the director now owns 18,617 shares of the company’s stock, valued at approximately $1,523,242.94. This represents a 31.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 47,514 shares of company stock worth $3,859,731. Company insiders own 6.60% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the company. Merit Financial Group LLC grew its holdings in shares of Charles Schwab by 230.1% in the fourth quarter. Merit Financial Group LLC now owns 33,546 shares of the financial services provider’s stock valued at $2,483,000 after purchasing an additional 23,383 shares in the last quarter. Benjamin Edwards Inc. increased its stake in shares of Charles Schwab by 2,840.7% during the third quarter. Benjamin Edwards Inc. now owns 6,146 shares of the financial services provider’s stock worth $398,000 after buying an additional 5,937 shares during the period. Synovus Financial Corp raised its holdings in Charles Schwab by 46.0% in the third quarter. Synovus Financial Corp now owns 67,889 shares of the financial services provider’s stock valued at $4,400,000 after acquiring an additional 21,377 shares in the last quarter. Oregon Pacific Wealth Management LLC purchased a new position in Charles Schwab in the fourth quarter worth approximately $688,000. Finally, Golden State Equity Partners lifted its position in shares of Charles Schwab by 293.9% during the 4th quarter. Golden State Equity Partners now owns 12,207 shares of the financial services provider’s stock worth $903,000 after purchasing an additional 9,108 shares during the last quarter. 84.38% of the stock is currently owned by hedge funds and other institutional investors.

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.