Charles Schwab (NYSE:SCHW) PT Lowered to $72.00 at Citigroup

Charles Schwab (NYSE:SCHW) had its target price dropped by stock analysts at Citigroup from $75.00 to $72.00 in a research report issued on Friday, Benzinga reports. The brokerage currently has a “neutral” rating on the financial services provider’s stock. Citigroup’s target price would suggest a potential upside of 11.77% from the company’s previous close.

A number of other brokerages also recently weighed in on SCHW. Morgan Stanley cut their price target on shares of Charles Schwab from $71.00 to $70.00 and set an “equal weight” rating on the stock in a report on Friday, August 16th. Piper Sandler downgraded shares of Charles Schwab from an “overweight” rating to a “neutral” rating and reduced their target price for the company from $80.00 to $64.00 in a research report on Monday, July 29th. UBS Group lowered their price target on shares of Charles Schwab from $91.00 to $90.00 and set a “buy” rating on the stock in a report on Tuesday, July 9th. TD Cowen reaffirmed a “hold” rating and set a $71.00 price objective (down from $88.00) on shares of Charles Schwab in a report on Wednesday, July 17th. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on shares of Charles Schwab from $79.00 to $80.00 and gave the company a “buy” rating in a report on Thursday, August 15th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $73.31.

Charles Schwab Stock Performance

Shares of SCHW stock opened at $64.42 on Friday. 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 fifty day simple moving average of $64.10 and a two-hundred day simple moving average of $69.84. The firm has a market capitalization of $114.57 billion, a PE ratio of 26.95, a price-to-earnings-growth ratio of 1.21 and a beta of 0.97. Charles Schwab has a 12 month low of $48.66 and a 12 month high of $79.49.

Charles Schwab (NYSE:SCHW) last released its quarterly earnings results on Tuesday, July 16th. The financial services provider reported $0.73 EPS for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $4.68 billion. During the same period in the prior year, the firm posted $0.75 EPS. Charles Schwab’s quarterly revenue was up .7% compared to the same quarter last year. Analysts forecast that Charles Schwab will post 3.05 EPS for the current fiscal year.

Insider Activity at Charles Schwab

In related news, insider Jonathan S. Beatty sold 780 shares of the company’s stock in a transaction on Thursday, July 11th. The shares were sold at an average price of $75.00, for a total value of $58,500.00. Following the completion of the transaction, the insider now directly owns 18,069 shares in the company, valued at $1,355,175. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Charles Schwab news, President Richard A. Wurster bought 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 17th. The shares were bought 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 directly owns 144,228 shares of the company’s stock, valued at $8,949,347.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jonathan S. Beatty sold 780 shares of the business’s stock in a transaction that occurred on Thursday, July 11th. The shares were sold at an average price of $75.00, for a total value of $58,500.00. Following the transaction, the insider now directly owns 18,069 shares in the company, valued at $1,355,175. The disclosure for this sale can be found here. Insiders have sold 99,636 shares of company stock valued at $6,457,104 over the last three months. 6.60% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in SCHW. Country Trust Bank purchased a new position in Charles Schwab in the 2nd quarter worth about $26,000. American Capital Advisory LLC purchased a new position in shares of Charles Schwab during the second quarter valued at approximately $27,000. Fortitude Family Office LLC lifted its position 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 period. CGC Financial Services LLC purchased a new stake in Charles Schwab in the second quarter worth approximately $29,000. Finally, Mizuho Securities Co. Ltd. bought a new stake in Charles Schwab in the 2nd quarter worth approximately $29,000. Hedge funds and other institutional investors own 84.38% of the company’s stock.

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.