Charles Schwab (NYSE:SCHW) Price Target Raised to $65.00

Charles Schwab (NYSE:SCHW) had its price target lifted by equities researchers at Piper Sandler from $64.00 to $65.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage presently has a “neutral” rating on the financial services provider’s stock. Piper Sandler’s price objective would indicate a potential downside of 11.66% from the company’s previous close.

Other research analysts have also issued research reports about the stock. Bank of America lowered their price objective on shares of Charles Schwab from $72.00 to $66.00 and set an “underperform” rating for the company in a research note on Wednesday, July 17th. Cowen raised their price target on shares of Charles Schwab from $69.00 to $75.00 and gave the company a “hold” rating in a research report on Tuesday. JMP Securities upped their price objective on Charles Schwab from $82.00 to $84.00 and gave the stock a “market outperform” rating in a research report on Wednesday. Deutsche Bank Aktiengesellschaft decreased their target price on Charles Schwab from $77.00 to $76.00 in a report on Tuesday. Finally, Keefe, Bruyette & Woods increased their price target on shares of Charles Schwab from $76.00 to $81.00 and gave the company an “outperform” rating in a research note on Wednesday. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $72.71.

Charles Schwab Trading Up 2.3 %

NYSE SCHW traded up $1.62 on Wednesday, reaching $73.58. The stock had a trading volume of 2,157,580 shares, compared to its average volume of 8,053,323. Charles Schwab has a 12-month low of $48.66 and a 12-month high of $79.49. The stock has a fifty day moving average price of $64.42 and a two-hundred day moving average price of $69.49. The firm has a market capitalization of $130.86 billion, a price-to-earnings ratio of 30.53, a P/E/G ratio of 1.43 and a beta of 0.97. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 0.65.

Charles Schwab (NYSE:SCHW) last posted its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $0.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.75 by $0.02. Charles Schwab had a return on equity of 18.14% and a net margin of 26.30%. The firm had revenue of $4.85 billion for the quarter, compared to the consensus estimate of $4.78 billion. During the same quarter in the previous year, the business earned $0.77 EPS. The company’s quarterly revenue was up 5.2% compared to the same quarter last year. As a group, sell-side analysts forecast that Charles Schwab will post 3.06 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Chairman Charles R. Schwab sold 67,386 shares of the business’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $65.11, for a total transaction of $4,387,502.46. Following the transaction, the chairman now directly owns 60,619,371 shares in the company, valued at $3,946,927,245.81. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, Chairman Charles R. Schwab sold 67,386 shares of the firm’s stock in a transaction that occurred on Wednesday, July 31st. The stock was 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 of the company’s stock, valued at $3,946,927,245.81. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Paul V. Woolway sold 1,150 shares of the company’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $65.20, for a total value of $74,980.00. Following the transaction, the insider now directly owns 61,887 shares in the company, valued at $4,035,032.40. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 98,856 shares of company stock worth $6,398,604. 6.60% of the stock is owned by insiders.

Institutional Investors Weigh In On Charles Schwab

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Country Trust Bank acquired a new position in Charles Schwab during the second quarter worth $26,000. Fortitude Family Office LLC increased its stake in shares of Charles Schwab by 97.5% during the 2nd quarter. Fortitude Family Office LLC now owns 389 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 192 shares in the last quarter. American Capital Advisory LLC acquired a new position in shares of Charles Schwab during the 2nd quarter worth approximately $27,000. CGC Financial Services LLC purchased a new stake in Charles Schwab in the 2nd quarter valued at approximately $29,000. Finally, Mizuho Securities Co. Ltd. acquired a new stake in Charles Schwab during the 2nd quarter valued at $29,000. 84.38% of the stock is currently owned by institutional investors and hedge funds.

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.