Charles Schwab (NYSE:SCHW) Given New $93.00 Price Target at JPMorgan Chase & Co.

Charles Schwab (NYSE:SCHW) had its target price increased by JPMorgan Chase & Co. from $87.00 to $93.00 in a report published on Tuesday,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the financial services provider’s stock.

A number of other equities research analysts also recently issued reports on SCHW. Jefferies Financial Group boosted their price target on Charles Schwab from $84.00 to $94.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Raymond James decreased their target price on Charles Schwab from $76.00 to $73.00 in a report on Tuesday, October 15th. Wells Fargo & Company raised their price target on shares of Charles Schwab from $75.00 to $90.00 and gave the company an “equal weight” rating in a report on Thursday, December 12th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Charles Schwab from $77.00 to $80.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. Finally, Morgan Stanley raised their target price on shares of Charles Schwab from $68.00 to $74.00 and gave the company an “equal weight” rating in a research note on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $81.19.

Charles Schwab Trading Up 0.9 %

Shares of SCHW stock opened at $72.93 on Tuesday. The firm’s 50-day simple moving average is $77.53 and its 200-day simple moving average is $70.65. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.47 and a quick ratio of 0.47. Charles Schwab has a 1-year low of $59.67 and a 1-year high of $83.35. The firm has a market cap of $129.79 billion, a P/E ratio of 28.49, a PEG ratio of 1.76 and a beta of 0.99.

Charles Schwab (NYSE:SCHW) last posted its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $0.77 earnings per share for the quarter, topping analysts’ consensus estimates of $0.75 by $0.02. The company had revenue of $4.85 billion for the quarter, compared to the consensus estimate of $4.78 billion. Charles Schwab had a net margin of 27.47% and a return on equity of 16.92%. Charles Schwab’s revenue was up 5.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.77 earnings per share. As a group, equities analysts forecast that Charles Schwab will post 3.12 EPS for the current year.

Charles Schwab Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Friday, November 8th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.37%. The ex-dividend date of this dividend was Friday, November 8th. Charles Schwab’s dividend payout ratio is currently 39.06%.

Insiders Place Their Bets

In other news, Chairman Charles R. Schwab sold 62,345 shares of the business’s stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $72.52, for a total value of $4,521,259.40. Following the completion of the sale, the chairman now owns 60,619,371 shares of the company’s stock, valued at approximately $4,396,116,784.92. The trade was a 0.10 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Carolyn Schwab-Pomerantz sold 29,800 shares of the stock in a transaction dated Thursday, October 17th. The stock was sold at an average price of $72.16, for a total transaction of $2,150,368.00. Following the transaction, the director now directly owns 551,329 shares in the company, valued at $39,783,900.64. The trade was a 5.13 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 118,968 shares of company stock worth $8,842,821 in the last three months. 6.60% of the stock is owned by insiders.

Institutional Investors Weigh In On Charles Schwab

A number of institutional investors have recently made changes to their positions in SCHW. Alliance Wealth Advisors LLC lifted its holdings in Charles Schwab by 2.7% in the third quarter. Alliance Wealth Advisors LLC now owns 5,358 shares of the financial services provider’s stock worth $347,000 after acquiring an additional 142 shares during the last quarter. Michael S. Ryan Inc. lifted its holdings in shares of Charles Schwab by 2.5% in the 4th quarter. Michael S. Ryan Inc. now owns 5,998 shares of the financial services provider’s stock worth $444,000 after purchasing an additional 144 shares during the last quarter. GS Investments Inc. boosted its position in Charles Schwab by 0.3% during the 3rd quarter. GS Investments Inc. now owns 57,434 shares of the financial services provider’s stock valued at $3,722,000 after purchasing an additional 146 shares during the period. Washington Trust Advisors Inc. grew its stake in Charles Schwab by 62.6% during the 3rd quarter. Washington Trust Advisors Inc. now owns 387 shares of the financial services provider’s stock worth $25,000 after buying an additional 149 shares during the last quarter. Finally, Arcataur Capital Management LLC increased its position in Charles Schwab by 2.3% in the third quarter. Arcataur Capital Management LLC now owns 6,648 shares of the financial services provider’s stock worth $431,000 after buying an additional 150 shares during the period. 84.38% of the stock is currently 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.