Morgan Stanley Raises Charles Schwab (NYSE:SCHW) Price Target to $74.00

Charles Schwab (NYSE:SCHW) had its target price hoisted by Morgan Stanley from $68.00 to $74.00 in a research note published on Thursday, Benzinga reports. They currently have an equal weight rating on the financial services provider’s stock.

A number of other equities analysts have also recently commented on the stock. JMP Securities lifted their price target on shares of Charles Schwab from $82.00 to $84.00 and gave the stock a “market outperform” rating in a research note on Wednesday, October 16th. Barclays boosted their price target on shares of Charles Schwab from $64.00 to $74.00 and gave the company an “equal weight” rating in a report on Wednesday, October 16th. Raymond James reduced their price objective on shares of Charles Schwab from $76.00 to $73.00 in a research note on Tuesday, October 15th. Keefe, Bruyette & Woods boosted their price objective on shares of Charles Schwab from $76.00 to $81.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. Finally, TD Cowen reissued a “hold” rating and set a $71.00 target price (down previously from $88.00) on shares of Charles Schwab in a research report on Wednesday, July 17th. Two 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 MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $73.94.

Charles Schwab Stock Down 1.1 %

Shares of SCHW stock opened at $71.82 on Thursday. Charles Schwab has a 12 month low of $49.16 and a 12 month high of $79.49. The stock has a market cap of $127.64 billion, a P/E ratio of 30.05, a P/E/G ratio of 1.63 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 company has a 50 day simple moving average of $65.73 and a two-hundred day simple moving average of $69.50.

Charles Schwab (NYSE:SCHW) last announced its quarterly earnings data 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. Charles Schwab had a net margin of 27.47% and a return on equity of 17.52%. The firm had revenue of $4.85 billion during the quarter, compared to analysts’ expectations of $4.78 billion. During the same period in the prior year, the company posted $0.77 earnings per share. The company’s revenue for the quarter was up 5.2% compared to the same quarter last year. On average, research analysts expect that Charles Schwab will post 3.11 earnings per share for the current year.

Charles Schwab Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Friday, November 8th will be paid a dividend of $0.25 per share. The ex-dividend date is Friday, November 8th. This represents a $1.00 annualized dividend and a yield of 1.39%. Charles Schwab’s dividend payout ratio is currently 41.84%.

Insider Activity at Charles Schwab

In related news, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the stock in a transaction dated 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 sale, the director now directly owns 554,929 shares of the company’s stock, valued at approximately $35,543,202.45. This 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 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 sale, the director now 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 filing with the SEC, which is available through this link. Also, Chairman Charles R. Schwab sold 67,386 shares of the firm’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $65.11, for a total value of $4,387,502.46. Following the completion of the sale, 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 sold 182,001 shares of company stock valued at $12,512,592 over the last 90 days. 6.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Charles Schwab

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Hudson Valley Investment Advisors Inc. ADV bought a new stake in Charles Schwab in the third quarter valued at about $3,238,000. Tandem Capital Management Corp ADV grew its holdings in shares of Charles Schwab by 0.3% during the third quarter. Tandem Capital Management Corp ADV now owns 49,537 shares of the financial services provider’s stock worth $3,210,000 after buying an additional 150 shares in the last quarter. JFS Wealth Advisors LLC grew its holdings in shares of Charles Schwab by 6,286.5% during the third quarter. JFS Wealth Advisors LLC now owns 25,035 shares of the financial services provider’s stock worth $1,623,000 after buying an additional 24,643 shares in the last quarter. Pinnacle Associates Ltd. boosted its position in Charles Schwab by 3.6% during the third quarter. Pinnacle Associates Ltd. now owns 92,537 shares of the financial services provider’s stock valued at $6,367,000 after purchasing an additional 3,204 shares during the last quarter. Finally, First Trust Direct Indexing L.P. boosted its position in Charles Schwab by 8.9% during the third quarter. First Trust Direct Indexing L.P. now owns 42,492 shares of the financial services provider’s stock valued at $2,754,000 after purchasing an additional 3,473 shares during the last quarter. Institutional investors and hedge funds 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.