Charles Schwab (NYSE:SCHW) Price Target Raised to $91.00

Charles Schwab (NYSE:SCHW) had its price objective increased by Morgan Stanley from $84.00 to $91.00 in a report issued on Thursday morning,Benzinga reports. They currently have an equal weight rating on the financial services provider’s stock.

SCHW has been the subject of a number of other reports. Deutsche Bank Aktiengesellschaft raised their price target on shares of Charles Schwab from $98.00 to $105.00 and gave the company a “buy” rating in a report on Wednesday, January 22nd. Barclays lifted their price objective on shares of Charles Schwab from $95.00 to $96.00 and gave the company an “overweight” rating in a research report on Wednesday, January 22nd. Raymond James cut their price objective on shares of Charles Schwab from $76.00 to $73.00 in a research report on Tuesday, October 15th. Jefferies Financial Group boosted their price target on shares of Charles Schwab from $84.00 to $94.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Finally, Bank of America dropped their price target on shares of Charles Schwab from $63.00 to $61.00 and set an “underperform” rating on the stock in a research report on Wednesday, October 16th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, Charles Schwab presently has an average rating of “Hold” and a consensus target price of $84.50.

Charles Schwab Trading Up 2.1 %

Shares of SCHW opened at $83.62 on Thursday. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 0.59. The firm’s 50-day moving average is $77.97 and its two-hundred day moving average is $71.57. Charles Schwab has a twelve month low of $61.01 and a twelve month high of $83.94. The firm has a market capitalization of $148.81 billion, a P/E ratio of 27.96, a PEG ratio of 1.01 and a beta of 0.99.

Charles Schwab (NYSE:SCHW) last released its quarterly earnings results on Tuesday, January 21st. The financial services provider reported $1.01 EPS for the quarter, beating the consensus estimate of $0.90 by $0.11. The business had revenue of $5.33 billion for the quarter, compared to analyst estimates of $5.19 billion. Charles Schwab had a net margin of 30.31% and a return on equity of 18.20%. The company’s quarterly revenue was up 19.5% on a year-over-year basis. During the same period in the prior year, the business earned $0.68 earnings per share. On average, research analysts predict that Charles Schwab will post 4.18 earnings per share for the current fiscal year.

Charles Schwab Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Friday, February 14th will be paid a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 1.29%. The ex-dividend date of this dividend is Friday, February 14th. This is a positive change from Charles Schwab’s previous quarterly dividend of $0.25. Charles Schwab’s dividend payout ratio is currently 33.44%.

Insider Buying and Selling at Charles Schwab

In other Charles Schwab news, insider Jonathan S. Beatty sold 2,500 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $77.02, for a total value of $192,550.00. Following the completion of the sale, the insider now directly owns 18,069 shares of the company’s stock, valued at $1,391,674.38. The trade was a 12.15 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Christopher V. Dodds sold 9,284 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $81.43, for a total transaction of $755,996.12. Following the completion of the sale, the director now directly owns 442,807 shares of the company’s stock, valued at $36,057,774.01. This represents a 2.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 50,014 shares of company stock worth $4,052,281. 6.60% of the stock is currently owned by company insiders.

Institutional Trading of Charles Schwab

Several large investors have recently modified their holdings of the company. Capital Performance Advisors LLP bought a new stake in Charles Schwab in the 3rd quarter valued at $25,000. Washington Trust Advisors Inc. boosted its holdings in Charles Schwab by 62.6% in the 3rd quarter. Washington Trust Advisors Inc. now owns 387 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 149 shares during the period. Prospera Private Wealth LLC bought a new stake in Charles Schwab in the 3rd quarter valued at $31,000. Future Financial Wealth Managment LLC acquired a new position in shares of Charles Schwab in the 3rd quarter valued at $32,000. Finally, Planning Capital Management Corp acquired a new position in shares of Charles Schwab in the 3rd quarter valued at $33,000. 84.38% of the stock is owned by 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.