Morgan Stanley Increases Charles Schwab (NYSE:SCHW) Price Target to $74.00

Charles Schwab (NYSE:SCHW) had its target price hoisted by Morgan Stanley from $68.00 to $74.00 in a research note published on Thursday morning, Benzinga reports. They currently have an equal weight rating on the financial services provider’s stock.

Several other analysts have also recently issued reports on the company. Keefe, Bruyette & Woods increased their price objective on Charles Schwab from $76.00 to $81.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. Cowen increased their price target on Charles Schwab from $69.00 to $75.00 and gave the company a “hold” rating in a research report on Tuesday, October 15th. Piper Sandler boosted their price objective on Charles Schwab from $64.00 to $65.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 16th. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Charles Schwab from $77.00 to $76.00 in a report on Tuesday, October 15th. Finally, The Goldman Sachs Group boosted their price target on shares of Charles Schwab from $67.00 to $74.00 and gave the stock a “neutral” rating in a report on Wednesday, October 16th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, Charles Schwab presently has a consensus rating of “Hold” and a consensus price target of $73.94.

Charles Schwab Stock Performance

NYSE SCHW opened at $71.82 on Thursday. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.42 and a quick ratio of 0.42. The company has a market cap of $127.64 billion, a P/E ratio of 30.05, a P/E/G ratio of 1.63 and a beta of 0.97. The stock has a 50-day moving average of $65.73 and a two-hundred day moving average of $69.48. Charles Schwab has a 1-year low of $49.16 and a 1-year high of $79.49.

Charles Schwab (NYSE:SCHW) last announced its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $0.77 earnings per share for the quarter, beating analysts’ consensus estimates of $0.75 by $0.02. The firm had revenue of $4.85 billion during the quarter, compared to analysts’ expectations of $4.78 billion. Charles Schwab had a net margin of 27.47% and a return on equity of 17.52%. The business’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.77 earnings per share. As a group, analysts anticipate that Charles Schwab will post 3.11 EPS for the current year.

Charles Schwab Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Friday, November 8th will be issued a $0.25 dividend. The ex-dividend date is Friday, November 8th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.39%. Charles Schwab’s payout ratio is 41.84%.

Insider Activity at Charles Schwab

In other Charles Schwab news, insider Paul V. Woolway sold 1,150 shares of Charles Schwab stock in a transaction on 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 approximately $4,035,032.40. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, insider Paul V. Woolway sold 1,150 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $65.20, for a total value of $74,980.00. Following the transaction, the insider now owns 61,887 shares of the company’s stock, valued at approximately $4,035,032.40. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, 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 sale, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 182,001 shares of company stock worth $12,512,592 in the last 90 days. 6.60% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. M&G Plc acquired a new position in Charles Schwab during the 1st quarter worth approximately $11,452,000. Teewinot Capital Advisers L.L.C. grew its holdings in Charles Schwab by 9.0% during the second quarter. Teewinot Capital Advisers L.L.C. now owns 775,161 shares of the financial services provider’s stock worth $57,122,000 after acquiring an additional 64,041 shares during the period. Daiwa Securities Group Inc. raised its position in Charles Schwab by 10.4% in the first quarter. Daiwa Securities Group Inc. now owns 190,597 shares of the financial services provider’s stock worth $13,788,000 after acquiring an additional 17,925 shares in the last quarter. Iowa State Bank lifted its holdings in Charles Schwab by 37.9% in the third quarter. Iowa State Bank now owns 28,476 shares of the financial services provider’s stock valued at $1,846,000 after acquiring an additional 7,829 shares during the period. Finally, Dudley & Shanley Inc. purchased a new stake in shares of Charles Schwab during the 1st quarter worth $13,650,000. 84.38% of the stock is currently 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.