Charles Schwab (NYSE:SCHW) Given New $77.00 Price Target at Barclays

Charles Schwab (NYSE:SCHW) had its target price hoisted by Barclays from $72.00 to $77.00 in a research report sent to investors on Wednesday morning, Benzinga reports. They currently have an equal weight rating on the financial services provider’s stock.

SCHW has been the topic of a number of other reports. Morgan Stanley upped their price objective on shares of Charles Schwab from $65.00 to $71.00 and gave the company an equal weight rating in a research note on Tuesday, April 9th. StockNews.com downgraded shares of Charles Schwab from a hold rating to a sell rating in a research report on Friday, May 24th. Keefe, Bruyette & Woods upgraded shares of Charles Schwab from a market perform rating to an outperform rating and boosted their target price for the company from $76.00 to $84.00 in a research report on Monday. JMP Securities reiterated a market outperform rating and set a $80.00 target price on shares of Charles Schwab in a research report on Tuesday, May 28th. Finally, TD Cowen dropped their target price on shares of Charles Schwab from $92.00 to $88.00 and set a buy rating on the stock in a research report on Thursday, May 23rd. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, Charles Schwab currently has a consensus rating of Hold and a consensus target price of $77.75.

Charles Schwab Trading Up 0.1 %

NYSE:SCHW opened at $74.63 on Wednesday. The firm’s fifty day moving average is $74.29 and its 200-day moving average is $70.09. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.42 and a current ratio of 0.42. Charles Schwab has a 52 week low of $48.66 and a 52 week high of $79.49. The firm has a market cap of $132.64 billion, a P/E ratio of 31.23, a P/E/G ratio of 1.13 and a beta of 0.99.

Charles Schwab (NYSE:SCHW) last posted its quarterly earnings data on Monday, April 15th. The financial services provider reported $0.74 EPS for the quarter, beating analysts’ consensus estimates of $0.73 by $0.01. Charles Schwab had a net margin of 26.14% and a return on equity of 19.25%. The company had revenue of $4.74 billion for the quarter, compared to analyst estimates of $4.71 billion. Equities analysts expect that Charles Schwab will post 3.25 earnings per share for the current year.

Charles Schwab Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 24th. Stockholders of record on Friday, May 10th were issued a $0.25 dividend. The ex-dividend date of this dividend was Thursday, May 9th. This represents a $1.00 annualized dividend and a dividend yield of 1.34%. Charles Schwab’s dividend payout ratio is currently 41.84%.

Insider Activity

In other news, Director Mark A. Goldfarb sold 7,100 shares of the stock in a transaction dated Tuesday, April 16th. The shares were sold at an average price of $70.86, for a total value of $503,106.00. Following the completion of the sale, the director now owns 19,917 shares in the company, valued at $1,411,318.62. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, insider Nigel J. Murtagh sold 10,000 shares of the stock in a transaction dated Tuesday, April 16th. The shares were sold at an average price of $72.40, for a total transaction of $724,000.00. Following the completion of the transaction, the insider now owns 71,446 shares in the company, valued at $5,172,690.40. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Mark A. Goldfarb sold 7,100 shares of the stock in a transaction dated Tuesday, April 16th. The shares were sold at an average price of $70.86, for a total transaction of $503,106.00. Following the transaction, the director now owns 19,917 shares of the company’s stock, valued at approximately $1,411,318.62. The disclosure for this sale can be found here. Insiders sold a total of 658,663 shares of company stock worth $48,997,146 over the last quarter. Insiders own 6.60% of the company’s stock.

Hedge Funds Weigh In On Charles Schwab

Several institutional investors have recently added to or reduced their stakes in SCHW. Investment Research & Advisory Group Inc. boosted its position in Charles Schwab by 1.0% during the fourth quarter. Investment Research & Advisory Group Inc. now owns 58,979 shares of the financial services provider’s stock worth $4,058,000 after purchasing an additional 607 shares during the period. Morningstar Investment Services LLC boosted its position in Charles Schwab by 98.0% during the fourth quarter. Morningstar Investment Services LLC now owns 4,691,362 shares of the financial services provider’s stock worth $326,284,000 after purchasing an additional 2,322,156 shares during the period. Brown Advisory Inc. boosted its position in Charles Schwab by 24.3% during the fourth quarter. Brown Advisory Inc. now owns 4,393,223 shares of the financial services provider’s stock worth $302,254,000 after purchasing an additional 857,734 shares during the period. Allspring Global Investments Holdings LLC boosted its position in Charles Schwab by 22.2% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 883,379 shares of the financial services provider’s stock worth $60,776,000 after purchasing an additional 160,719 shares during the period. Finally, Retirement Systems of Alabama boosted its position in Charles Schwab by 13.0% during the fourth quarter. Retirement Systems of Alabama now owns 1,329,388 shares of the financial services provider’s stock worth $91,462,000 after purchasing an additional 152,967 shares during the period. Institutional investors 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.