Keefe, Bruyette & Woods Issues Positive Forecast for Charles Schwab (NYSE:SCHW) Stock Price

Charles Schwab (NYSE:SCHW) had its price target lifted by Keefe, Bruyette & Woods from $81.00 to $93.00 in a research note released on Friday,Benzinga reports. Keefe, Bruyette & Woods currently has an outperform rating on the financial services provider’s stock.

Several other equities research analysts also recently weighed in on SCHW. Wells Fargo & Company raised their price target on shares of Charles Schwab from $75.00 to $90.00 and gave the company an “equal weight” rating in a research report on Thursday, December 12th. Bank of America reduced their price objective on Charles Schwab from $63.00 to $61.00 and set an “underperform” rating for the company in a report on Wednesday, October 16th. JMP Securities restated a “market outperform” rating and set a $94.00 target price (up previously from $84.00) on shares of Charles Schwab in a research note on Monday, December 9th. Piper Sandler upped their price objective on Charles Schwab from $64.00 to $65.00 and gave the company a “neutral” rating in a research report on Wednesday, October 16th. Finally, Raymond James reduced their price target on shares of Charles Schwab from $76.00 to $73.00 in a research report on Tuesday, October 15th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $80.50.

Charles Schwab Stock Performance

Shares of SCHW opened at $74.31 on Friday. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 0.59. The stock has a market cap of $132.25 billion, a P/E ratio of 29.03, a P/E/G ratio of 1.76 and a beta of 0.96. The business’s 50 day moving average price is $76.77 and its 200-day moving average price is $70.58. Charles Schwab has a 52 week low of $59.67 and a 52 week high of $83.35.

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 the consensus estimate of $0.75 by $0.02. The firm had revenue of $4.85 billion during the quarter, compared to the consensus estimate of $4.78 billion. Charles Schwab had a return on equity of 16.92% and a net margin of 27.47%. The company’s revenue was up 5.2% on a year-over-year basis. During the same period last year, the company earned $0.77 earnings per share. Equities research analysts anticipate that Charles Schwab will post 3.12 earnings per share for the current fiscal year.

Charles Schwab Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Friday, November 8th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.35%. The ex-dividend date of this dividend was Friday, November 8th. Charles Schwab’s dividend payout ratio is currently 39.06%.

Insider Activity

In related news, insider Nigel J. Murtagh sold 12,739 shares of the stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $81.17, for a total value of $1,034,024.63. Following the completion of the transaction, the insider now directly owns 59,092 shares in the company, valued at approximately $4,796,497.64. This represents a 17.73 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Jonathan S. Beatty sold 2,500 shares of the company’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $77.02, for a total transaction of $192,550.00. Following the completion of the transaction, the insider now directly owns 18,069 shares in the company, valued at $1,391,674.38. The trade was a 12.15 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 118,968 shares of company stock worth $8,842,821 over the last ninety days. Corporate insiders own 6.60% of the company’s stock.

Hedge Funds Weigh In On Charles Schwab

Institutional investors have recently modified their holdings of the business. State Street Corp grew its holdings in Charles Schwab by 0.7% during the 3rd quarter. State Street Corp now owns 62,076,447 shares of the financial services provider’s stock worth $4,023,175,000 after acquiring an additional 414,949 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Charles Schwab by 1.5% in the third quarter. Geode Capital Management LLC now owns 30,141,441 shares of the financial services provider’s stock valued at $1,945,614,000 after purchasing an additional 445,304 shares in the last quarter. Massachusetts Financial Services Co. MA increased its stake in Charles Schwab by 6.3% in the third quarter. Massachusetts Financial Services Co. MA now owns 28,679,305 shares of the financial services provider’s stock valued at $1,858,706,000 after purchasing an additional 1,711,312 shares during the last quarter. Franklin Resources Inc. raised its holdings in Charles Schwab by 15.0% during the third quarter. Franklin Resources Inc. now owns 24,261,234 shares of the financial services provider’s stock worth $1,644,674,000 after purchasing an additional 3,157,923 shares in the last quarter. Finally, Fisher Asset Management LLC boosted its holdings in shares of Charles Schwab by 2.5% in the 3rd quarter. Fisher Asset Management LLC now owns 20,189,558 shares of the financial services provider’s stock valued at $1,308,485,000 after buying an additional 493,264 shares in the last quarter. Institutional investors and hedge funds own 84.38% of the company’s stock.

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.