Charles Schwab (NYSE:SCHW) Price Target Cut to $73.00

Charles Schwab (NYSE:SCHW) had its target price reduced by equities researchers at Raymond James from $76.00 to $73.00 in a research report issued to clients and investors on Tuesday. Raymond James’ price target points to a potential upside of 1.28% from the company’s previous close.

Several other research firms also recently weighed in on SCHW. Keefe, Bruyette & Woods dropped their target price on shares of Charles Schwab from $80.00 to $76.00 and set an “overweight” rating on the stock in a research report on Tuesday. UBS Group reduced their target price on Charles Schwab from $91.00 to $90.00 and set a “buy” rating for the company in a research note on Tuesday, July 9th. JPMorgan Chase & Co. dropped their price target on Charles Schwab from $82.00 to $78.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 17th. The Goldman Sachs Group reduced their price objective on Charles Schwab from $71.00 to $67.00 and set a “neutral” rating for the company in a research note on Thursday, September 26th. Finally, Cowen upped their target price on Charles Schwab from $69.00 to $75.00 and gave the company a “hold” rating in a research report on Tuesday. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $73.59.

Charles Schwab Price Performance

NYSE SCHW opened at $72.08 on Tuesday. Charles Schwab has a 12-month low of $48.66 and a 12-month high of $79.49. The firm’s fifty day simple moving average is $64.61 and its two-hundred day simple moving average is $69.51. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 0.65. The firm has a market capitalization of $128.11 billion, a P/E ratio of 30.16, a P/E/G ratio of 1.43 and a beta of 0.97.

Charles Schwab (NYSE:SCHW) last announced its earnings results on Tuesday, October 15th. The financial services provider reported $0.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.75 by $0.02. The company had revenue of $4.85 billion for the quarter, compared to analyst estimates of $4.78 billion. Charles Schwab had a return on equity of 18.14% and a net margin of 26.30%. The firm’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same period in the prior year, the company posted $0.77 EPS. Analysts forecast that Charles Schwab will post 3.06 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $64.05, for a total value of $576,450.00. Following the completion of the transaction, the director now directly owns 554,929 shares of the company’s stock, valued at approximately $35,543,202.45. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Charles Schwab news, insider Paul V. Woolway sold 1,150 shares of the business’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $65.20, for a total value of $74,980.00. Following the transaction, the insider now directly owns 61,887 shares in the company, valued at $4,035,032.40. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $64.05, for a total value of $576,450.00. Following the completion of the transaction, the director now owns 554,929 shares of the company’s stock, valued at $35,543,202.45. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 98,856 shares of company stock worth $6,398,604 in the last 90 days. Insiders own 6.60% of the company’s stock.

Hedge Funds Weigh In On Charles Schwab

A number of hedge funds have recently modified their holdings of the business. Nelson Capital Management LLC boosted its stake in Charles Schwab by 0.4% during the first quarter. Nelson Capital Management LLC now owns 37,726 shares of the financial services provider’s stock worth $2,729,000 after buying an additional 141 shares during the period. Abbrea Capital LLC raised its position in Charles Schwab by 2.5% in the first quarter. Abbrea Capital LLC now owns 5,777 shares of the financial services provider’s stock valued at $418,000 after purchasing an additional 142 shares during the period. Alliance Wealth Advisors LLC lifted its stake in Charles Schwab by 2.7% during the third quarter. Alliance Wealth Advisors LLC now owns 5,358 shares of the financial services provider’s stock worth $347,000 after purchasing an additional 142 shares in the last quarter. Ironwood Financial llc boosted its position in shares of Charles Schwab by 1.6% during the first quarter. Ironwood Financial llc now owns 10,186 shares of the financial services provider’s stock worth $737,000 after buying an additional 160 shares during the period. Finally, Ascent Wealth Partners LLC grew its stake in shares of Charles Schwab by 0.7% in the second quarter. Ascent Wealth Partners LLC now owns 23,361 shares of the financial services provider’s stock valued at $1,721,000 after buying an additional 164 shares in 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.