Charles Schwab (NYSE:SCHW) Given New $72.00 Price Target at Citigroup

Charles Schwab (NYSE:SCHW) had its price objective lowered by Citigroup from $75.00 to $72.00 in a research report released on Friday, Benzinga reports. The brokerage currently has a neutral rating on the financial services provider’s stock.

Several other equities analysts have also recently issued reports on SCHW. TD Cowen restated a hold rating and issued a $71.00 price target (down from $88.00) on shares of Charles Schwab in a research report on Wednesday, July 17th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Charles Schwab from $79.00 to $80.00 and gave the stock a buy rating in a research report on Thursday, August 15th. JMP Securities decreased their price objective on shares of Charles Schwab from $85.00 to $82.00 and set a market outperform rating for the company in a research report on Tuesday, July 23rd. Piper Sandler cut shares of Charles Schwab from an overweight rating to a neutral rating and decreased their price objective for the stock from $80.00 to $64.00 in a research report on Monday, July 29th. Finally, The Goldman Sachs Group decreased their price objective on shares of Charles Schwab from $71.00 to $67.00 and set a neutral rating for the company in a research report on Thursday. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of Hold and a consensus price target of $73.31.

Charles Schwab Trading Up 0.9 %

Shares of NYSE SCHW opened at $64.42 on Friday. The company has a debt-to-equity ratio of 0.65, 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 50 day moving average price of $64.10 and a two-hundred day moving average price of $69.81. The stock has a market cap of $114.57 billion, a P/E ratio of 26.95, a price-to-earnings-growth ratio of 1.21 and a beta of 0.97.

Charles Schwab (NYSE:SCHW) last announced its quarterly earnings results 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 net margin of 26.30% and a return on equity of 18.14%. The firm had revenue of $4.69 billion during the quarter, compared to analysts’ expectations of $4.68 billion. During the same period in the prior year, the company posted $0.75 EPS. The company’s revenue was up .7% on a year-over-year basis. As a group, equities analysts forecast that Charles Schwab will post 3.05 EPS for the current year.

Charles Schwab Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Friday, August 9th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.55%. The ex-dividend date of this dividend was Friday, August 9th. Charles Schwab’s dividend payout ratio (DPR) is 41.84%.

Insider Buying and Selling at Charles Schwab

In other Charles Schwab news, President Richard A. Wurster acquired 10,000 shares of the company’s stock in a transaction on Wednesday, July 17th. The shares were purchased at an average cost of $62.05 per share, with a total value of $620,500.00. Following the completion of the purchase, the president now owns 144,228 shares of the company’s stock, valued at $8,949,347.40. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, Chairman Charles R. Schwab sold 67,386 shares of the firm’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $65.11, for a total transaction of $4,387,502.46. Following the transaction, the chairman now directly owns 60,619,371 shares of the company’s stock, valued at $3,946,927,245.81. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Richard A. Wurster purchased 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 17th. The shares were purchased at an average cost of $62.05 per share, for a total transaction of $620,500.00. Following the completion of the transaction, the president now directly owns 144,228 shares of the company’s stock, valued at $8,949,347.40. The disclosure for this purchase can be found here. Over the last three months, insiders have sold 99,636 shares of company stock valued at $6,457,104. Corporate insiders own 6.60% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Country Trust Bank bought a new position in shares of Charles Schwab during the second quarter valued at about $26,000. American Capital Advisory LLC bought a new position in shares of Charles Schwab during the second quarter valued at about $27,000. Fortitude Family Office LLC raised its position in Charles Schwab by 97.5% in the second quarter. Fortitude Family Office LLC now owns 389 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 192 shares during the period. CGC Financial Services LLC bought a new stake in Charles Schwab in the second quarter worth about $29,000. Finally, Mizuho Securities Co. Ltd. bought a new stake in Charles Schwab in the second quarter worth about $29,000. 84.38% of the stock is owned by 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.