Charles Schwab (NYSE:SCHW) Price Target Raised to $74.00

Charles Schwab (NYSE:SCHW) had its price target upped by Barclays from $64.00 to $74.00 in a report released on Wednesday, Benzinga reports. The brokerage currently has an equal weight rating on the financial services provider’s stock.

Several other analysts also recently commented on the stock. The Goldman Sachs Group raised their price objective on shares of Charles Schwab from $67.00 to $74.00 and gave the stock a “neutral” rating in a research report on Wednesday. Cowen raised their price objective on shares of Charles Schwab from $69.00 to $75.00 and gave the stock a “hold” rating in a research report on Tuesday. TD Cowen reaffirmed a “hold” rating and set a $71.00 price objective (down previously from $88.00) on shares of Charles Schwab in a research report on Wednesday, July 17th. UBS Group reduced their price objective on shares of Charles Schwab from $91.00 to $90.00 and set a “buy” rating for the company in a research report on Tuesday, July 9th. Finally, Wells Fargo & Company raised their price objective on shares of Charles Schwab from $70.00 to $75.00 and gave the stock an “equal weight” rating in a research report on Wednesday. Two equities 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. Based on data from MarketBeat.com, Charles Schwab currently has a consensus rating of “Hold” and an average price target of $73.59.

Charles Schwab Stock Performance

NYSE:SCHW opened at $71.34 on Wednesday. The company has a market capitalization of $126.87 billion, a PE ratio of 29.60, a P/E/G ratio of 1.47 and a beta of 0.97. The company has a 50 day simple moving average of $64.97 and a two-hundred day simple moving average of $69.52. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.42 and a current ratio of 0.42. Charles Schwab has a fifty-two week low of $48.66 and a fifty-two week high of $79.49.

Charles Schwab (NYSE:SCHW) last released its 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. The business had revenue of $4.85 billion during the quarter, compared to the consensus estimate of $4.78 billion. Charles Schwab had a net margin of 26.30% and a return on equity of 18.14%. The company’s revenue for the quarter was up 5.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.77 EPS. Research analysts anticipate that Charles Schwab will post 3.06 earnings per share for the current year.

Charles Schwab Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Friday, August 9th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.40%. The ex-dividend date was Friday, August 9th. Charles Schwab’s dividend payout ratio is 41.49%.

Insiders Place Their Bets

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 transaction of $74,980.00. Following the transaction, the insider now directly owns 61,887 shares of the company’s stock, valued at $4,035,032.40. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Carolyn Schwab-Pomerantz sold 29,800 shares of the business’s stock in a transaction dated Thursday, October 17th. The shares were sold at an average price of $72.16, for a total value of $2,150,368.00. Following the transaction, the director now directly owns 551,329 shares of the company’s stock, valued at approximately $39,783,900.64. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Paul V. Woolway sold 1,150 shares of the business’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $65.20, for a total transaction of $74,980.00. Following the completion of the transaction, the insider now directly owns 61,887 shares in the company, valued at $4,035,032.40. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 182,001 shares of company stock valued at $12,512,592 in the last three months. 6.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Charles Schwab

A number of hedge funds and other institutional investors have recently made changes to their positions in SCHW. Price T Rowe Associates Inc. MD boosted its holdings in shares of Charles Schwab by 4.2% in the 1st 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 during the last quarter. Darsana Capital Partners LP boosted its holdings in shares of Charles Schwab by 200.0% in the 2nd quarter. Darsana Capital Partners LP now owns 3,000,000 shares of the financial services provider’s stock worth $221,070,000 after buying an additional 2,000,000 shares during the last quarter. Mondrian Investment Partners LTD raised its stake in Charles Schwab by 28,736.1% in the 1st quarter. Mondrian Investment Partners LTD now owns 1,485,637 shares of the financial services provider’s stock valued at $107,471,000 after acquiring an additional 1,480,485 shares during the period. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in Charles Schwab in the 1st quarter valued at about $105,563,000. Finally, Westwood Holdings Group Inc. raised its stake in Charles Schwab by 231.2% in the 1st quarter. Westwood Holdings Group Inc. now owns 1,498,929 shares of the financial services provider’s stock valued at $108,433,000 after acquiring an additional 1,046,322 shares during the period. 84.38% of the stock is owned by hedge funds and other 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.