Wells Fargo & Company Initiates Coverage on Charles Schwab (NYSE:SCHW)

Wells Fargo & Company began coverage on shares of Charles Schwab (NYSE:SCHW) in a research report report published on Thursday, MarketBeat Ratings reports. The firm issued an equal weight rating and a $70.00 price target on the financial services provider’s stock.

Other analysts also recently issued reports about the company. StockNews.com downgraded Charles Schwab from a hold rating to a sell rating in a research report on Friday, May 24th. Piper Sandler downgraded Charles Schwab from an overweight rating to a neutral rating and reduced their price objective for the company from $80.00 to $64.00 in a research report on Monday, July 29th. TD Cowen restated a hold rating and issued a $71.00 price objective (down from $88.00) on shares of Charles Schwab in a research report on Wednesday, July 17th. UBS Group reduced their target price on Charles Schwab from $91.00 to $90.00 and set a buy rating on the stock in a research report on Tuesday, July 9th. Finally, Deutsche Bank Aktiengesellschaft increased their target price on Charles Schwab from $79.00 to $80.00 and gave the stock a buy rating in a research report on Thursday, August 15th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of Hold and a consensus price target of $73.75.

Charles Schwab Stock Up 0.6 %

SCHW opened at $62.12 on Thursday. The business’s fifty day moving average is $65.33 and its two-hundred day moving average is $70.04. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.42 and a current ratio of 0.42. The company has a market cap of $110.48 billion, a price-to-earnings ratio of 25.99, a PEG ratio of 1.19 and a beta of 0.97. Charles Schwab has a one year low of $48.66 and a one year high of $79.49.

Charles Schwab (NYSE:SCHW) last issued its quarterly earnings data on Tuesday, July 16th. The financial services provider reported $0.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.72 by $0.01. Charles Schwab had a return on equity of 18.14% and a net margin of 26.30%. The business had revenue of $4.69 billion for the quarter, compared to the consensus estimate of $4.68 billion. During the same period in the prior year, the business earned $0.75 earnings per share. The business’s revenue was up .7% on a year-over-year basis. Analysts anticipate that Charles Schwab will post 3.05 EPS for the current fiscal year.

Charles Schwab Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Friday, August 9th were paid a $0.25 dividend. The ex-dividend date was Friday, August 9th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.61%. Charles Schwab’s dividend payout ratio (DPR) is currently 41.84%.

Insider Activity

In other news, Director Carolyn Schwab-Pomerantz sold 12,320 shares of the stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $65.10, for a total value of $802,032.00. Following the completion of the sale, the director now owns 562,129 shares in the company, valued at $36,594,597.90. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, CEO Walter W. Bettinger bought 25,000 shares of the stock in a transaction dated Wednesday, July 17th. The stock was acquired at an average price of $66.26 per share, for a total transaction of $1,656,500.00. Following the completion of the purchase, the chief executive officer now owns 827,377 shares in the company, valued at $54,822,000.02. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Carolyn Schwab-Pomerantz sold 12,320 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $65.10, for a total value of $802,032.00. Following the sale, the director now owns 562,129 shares of the company’s stock, valued at approximately $36,594,597.90. The disclosure for this sale can be found here. Over the last quarter, insiders sold 99,636 shares of company stock worth $6,533,064. 6.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Charles Schwab

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