Charles Schwab (NYSE:SCHW) Price Target Raised to $74.00 at The Goldman Sachs Group

Charles Schwab (NYSE:SCHW) had its price objective upped by The Goldman Sachs Group from $67.00 to $74.00 in a research report sent to investors on Wednesday morning, Benzinga reports. The brokerage currently has a neutral rating on the financial services provider’s stock.

SCHW has been the subject of a number of other research reports. Wells Fargo & Company assumed coverage on shares of Charles Schwab in a report on Thursday, September 12th. They set an “equal weight” rating and a $70.00 target price for the company. Bank of America lowered their price objective on Charles Schwab from $72.00 to $66.00 and set an “underperform” rating on the stock in a research note on Wednesday, July 17th. Piper Sandler downgraded Charles Schwab from an “overweight” rating to a “neutral” rating and cut their target price for the stock from $80.00 to $64.00 in a research note on Monday, July 29th. Citigroup dropped their price objective on shares of Charles Schwab from $75.00 to $72.00 and set a “neutral” rating for the company in a report on Friday, September 27th. Finally, Raymond James decreased their target price on shares of Charles Schwab from $76.00 to $73.00 in a report on Tuesday. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $73.59.

Charles Schwab Stock Up 0.2 %

Charles Schwab stock opened at $72.08 on Wednesday. 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 stock has a market capitalization of $128.11 billion, a PE ratio of 30.16, a price-to-earnings-growth ratio of 1.43 and a beta of 0.97. The business has a 50 day simple moving average of $64.61 and a 200-day simple moving average of $69.51. Charles Schwab has a 12 month low of $48.66 and a 12 month high of $79.49.

Charles Schwab (NYSE:SCHW) last issued its quarterly earnings results 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. Charles Schwab had a net margin of 26.30% and a return on equity of 18.14%. The firm had revenue of $4.85 billion for the quarter, compared to analyst estimates of $4.78 billion. During the same period last year, the company posted $0.77 EPS. Charles Schwab’s quarterly revenue was up 5.2% compared to the same quarter last year. On average, analysts anticipate that Charles Schwab will post 3.06 EPS for the current fiscal year.

Charles Schwab Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Friday, August 9th were given a $0.25 dividend. The ex-dividend date was Friday, August 9th. This represents a $1.00 dividend on an annualized basis and a yield of 1.39%. Charles Schwab’s payout ratio is currently 41.84%.

Insider Transactions at Charles Schwab

In related news, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the firm’s 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 directly owns 554,929 shares of the company’s stock, valued at $35,543,202.45. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, Chairman Charles R. Schwab sold 67,386 shares of the firm’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $65.11, for a total transaction of $4,387,502.46. Following the sale, the chairman now owns 60,619,371 shares in the company, valued at $3,946,927,245.81. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the business’s stock in a transaction dated Tuesday, September 17th. The shares were 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 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 valued at $6,398,604 in the last ninety days. 6.60% of the stock is currently owned by company insiders.

Institutional Trading of Charles Schwab

Large investors have recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD grew its position in shares of Charles Schwab by 4.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 72,306,560 shares of the financial services provider’s stock worth $5,230,657,000 after buying an additional 2,946,327 shares in the last quarter. Darsana Capital Partners LP grew its stake in Charles Schwab by 200.0% in the second quarter. Darsana Capital Partners LP now owns 3,000,000 shares of the financial services provider’s stock worth $221,070,000 after purchasing an additional 2,000,000 shares in the last quarter. Mondrian Investment Partners LTD increased its holdings in Charles Schwab by 28,736.1% in the first quarter. Mondrian Investment Partners LTD now owns 1,485,637 shares of the financial services provider’s stock valued at $107,471,000 after buying an additional 1,480,485 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Charles Schwab during the first quarter valued at approximately $105,563,000. Finally, Westwood Holdings Group Inc. lifted its holdings in Charles Schwab by 231.2% during the 1st quarter. Westwood Holdings Group Inc. now owns 1,498,929 shares of the financial services provider’s stock worth $108,433,000 after buying an additional 1,046,322 shares during the last quarter. 84.38% of the stock is currently owned by institutional investors and hedge funds.

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.