Morgan Stanley Trims Charles Schwab (NYSE:SCHW) Target Price to $71.00

Charles Schwab (NYSE:SCHW) had its price target trimmed by Morgan Stanley from $73.00 to $71.00 in a research note issued to investors on Thursday, Benzinga reports. The firm currently has an equal weight rating on the financial services provider’s stock.

SCHW has been the topic of several other research reports. Keefe, Bruyette & Woods raised Charles Schwab from a market perform rating to an outperform rating and increased their target price for the stock from $76.00 to $84.00 in a research note on Monday. UBS Group decreased their target price on Charles Schwab from $91.00 to $90.00 and set a buy rating on the stock in a research note on Tuesday. Citigroup increased their target price on Charles Schwab from $70.00 to $75.00 and gave the stock a neutral rating in a research note on Thursday, April 11th. JPMorgan Chase & Co. decreased their target price on Charles Schwab from $89.00 to $81.00 and set an overweight rating on the stock in a research note on Friday, May 31st. Finally, Piper Sandler increased their target price on Charles Schwab from $75.00 to $78.00 and gave the stock an overweight rating in a research note on Friday, April 12th. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, Charles Schwab presently has an average rating of Hold and an average target price of $77.75.

Charles Schwab Stock Up 1.9 %

Shares of NYSE:SCHW opened at $76.07 on Thursday. Charles Schwab has a 52-week low of $48.66 and a 52-week high of $79.49. The business has a fifty day moving average of $74.31 and a two-hundred day moving average of $70.14. The stock has a market cap of $135.20 billion, a P/E ratio of 31.83, a PEG ratio of 1.17 and a beta of 0.99. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 0.69.

Charles Schwab (NYSE:SCHW) last announced its quarterly earnings results on Monday, April 15th. The financial services provider reported $0.74 EPS for the quarter, beating the consensus estimate of $0.73 by $0.01. Charles Schwab had a return on equity of 19.25% and a net margin of 26.14%. The business had revenue of $4.74 billion for the quarter, compared to analyst estimates of $4.71 billion. On average, research analysts expect that Charles Schwab will post 3.21 earnings per share for the current year.

Charles Schwab Dividend Announcement

The firm also recently disclosed 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 was Thursday, May 9th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.31%. Charles Schwab’s payout ratio is currently 41.84%.

Insider Buying and Selling

In related news, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $72.49, for a total transaction of $652,410.00. Following the transaction, the director now owns 570,657 shares in the company, valued at approximately $41,366,925.93. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $72.49, for a total transaction of $652,410.00. Following the transaction, the director now owns 570,657 shares in the company, valued at approximately $41,366,925.93. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Bernard J. Clark sold 8,164 shares of the firm’s stock in a transaction that occurred on Wednesday, June 12th. The stock was sold at an average price of $75.00, for a total value of $612,300.00. Following the transaction, the insider now owns 121,666 shares in the company, valued at approximately $9,124,950. The disclosure for this sale can be found here. Insiders have sold 658,663 shares of company stock worth $48,997,146 in the last quarter. 6.60% of the stock is owned by insiders.

Institutional Trading of Charles Schwab

A number of hedge funds have recently added to or reduced their stakes in SCHW. Fortitude Family Office LLC lifted its holdings in shares of Charles Schwab by 97.5% in the 2nd quarter. Fortitude Family Office LLC now owns 389 shares of the financial services provider’s stock valued at $29,000 after buying an additional 192 shares during the period. Tributary Capital Management LLC acquired a new stake in shares of Charles Schwab in the 1st quarter valued at approximately $31,000. Sugarloaf Wealth Management LLC lifted its holdings in shares of Charles Schwab by 60.0% in the 4th quarter. Sugarloaf Wealth Management LLC now owns 440 shares of the financial services provider’s stock valued at $30,000 after buying an additional 165 shares during the period. Frazier Financial Advisors LLC acquired a new stake in shares of Charles Schwab in the 4th quarter valued at approximately $30,000. Finally, Wetzel Investment Advisors Inc. acquired a new stake in shares of Charles Schwab in the 4th quarter valued at approximately $31,000. 84.38% of the stock is owned by institutional investors and hedge funds.

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.