Charles Schwab (NYSE:SCHW) PT Raised to $84.00 at JMP Securities

Charles Schwab (NYSE:SCHW) had its price target hoisted by equities researchers at JMP Securities from $82.00 to $84.00 in a research report issued on Wednesday, Benzinga reports. The brokerage currently has a “market outperform” rating on the financial services provider’s stock. JMP Securities’ price objective would suggest a potential upside of 16.73% from the stock’s previous close.

SCHW has been the subject of a number of other reports. UBS Group cut their price objective on Charles Schwab from $91.00 to $90.00 and set a “buy” rating for the company in a research report on Tuesday, July 9th. Bank of America cut their price target on Charles Schwab from $72.00 to $66.00 and set an “underperform” rating for the company in a research note on Wednesday, July 17th. Morgan Stanley decreased their target price on shares of Charles Schwab from $70.00 to $68.00 and set an “equal weight” rating on the stock in a report on Monday, October 7th. Cowen lifted 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. Finally, TD Cowen reiterated a “hold” rating and set a $71.00 price target (down from $88.00) on shares of Charles Schwab in a report on Wednesday, July 17th. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $72.24.

Charles Schwab Price Performance

Shares of SCHW stock opened at $71.96 on Wednesday. The firm has a market capitalization of $127.98 billion, a price-to-earnings ratio of 29.86, a PEG ratio of 1.43 and a beta of 0.97. 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’s 50 day moving average is $64.42 and its 200-day moving average is $69.49. Charles Schwab has a 1 year low of $48.66 and a 1 year high of $79.49.

Charles Schwab (NYSE:SCHW) last issued its earnings results on Tuesday, October 15th. The financial services provider reported $0.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.75 by $0.02. The firm had revenue of $4.85 billion for the quarter, compared to analysts’ expectations of $4.78 billion. Charles Schwab had a return on equity of 18.14% and a net margin of 26.30%. The company’s revenue was up 5.2% compared to the same quarter last year. During the same quarter last year, the business earned $0.77 earnings per share. Sell-side analysts forecast that Charles Schwab will post 3.06 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the stock in a transaction dated Friday, July 19th. The shares were sold at an average price of $61.96, for a total value of $557,640.00. Following the completion of the transaction, the director now owns 567,057 shares of the company’s stock, valued at approximately $35,134,851.72. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Charles Schwab news, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the company’s stock in a transaction dated Friday, July 19th. The shares were sold at an average price of $61.96, for a total value of $557,640.00. Following the transaction, the director now directly owns 567,057 shares in the company, valued at $35,134,851.72. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 in the company, valued at $3,946,927,245.81. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 98,856 shares of company stock worth $6,398,604 in the last 90 days. 6.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Charles Schwab

Large investors have recently made changes to their positions in the stock. Country Trust Bank acquired a new position in shares of Charles Schwab in the 2nd quarter valued at about $26,000. American Capital Advisory LLC acquired a new position in shares of Charles Schwab during the second quarter valued at approximately $27,000. Fortitude Family Office LLC lifted its stake in shares of 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 buying an additional 192 shares in the last quarter. CGC Financial Services LLC purchased a new stake in Charles Schwab in the 2nd quarter valued at $29,000. Finally, Mizuho Securities Co. Ltd. acquired a new stake in shares of Charles Schwab during the second quarter valued at about $29,000. 84.38% of the stock is owned by hedge funds and other institutional investors.

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.