Charles Schwab (NYSE:SCHW) Stock Picked Up by Analysts at Evercore

Key Points

• Evercore initiated coverage of Charles Schwab with an “inline” rating and a $107 price target, implying approximately 10.4% upside from the previous close.
• Analyst sentiment remains generally positive: SCHW has a consensus “Moderate Buy” rating and an average price target of $117.75, despite some recent target reductions and a downgrade from BMO Capital Markets.
• Charles Schwab recently exceeded quarterly expectations, reporting $1.62 in EPS and $7.07 billion in revenue, while revenue grew 20.9% year over year. However, insiders sold approximately $69.6 million worth of shares over the past 90 days.

Analysts at Evercore assumed coverage on shares of Charles Schwab (NYSE:SCHW - Get Free Report) in a research report issued on Monday, Briefing.com reports. The firm set an "inline" rating and a $107.00 price target on the financial services provider's stock. Evercore's price target would suggest a potential upside of 10.36% from the stock's previous close.

Other equities research analysts have also recently issued reports about the stock. Morgan Stanley boosted their price objective on shares of Charles Schwab from $136.00 to $141.00 and gave the company an "overweight" rating in a research report on Friday. Barclays lowered their target price on Charles Schwab from $125.00 to $118.00 and set an "overweight" rating for the company in a report on Wednesday. BMO Capital Markets lowered Charles Schwab from an "outperform" rating to a "market perform" rating and set a $105.00 price target for the company. in a research report on Monday, July 20th. Bank of America raised their price objective on Charles Schwab from $91.00 to $95.00 and gave the company an "underperform" rating in a research report on Monday, October 5th. Finally, Citigroup reissued a "market outperform" rating on shares of Charles Schwab in a research report on Wednesday, July 22nd. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $117.75.

Charles Schwab Price Performance

SCHW stock traded up $0.26 during trading on Monday, hitting $96.96. 120,455 shares of the company's stock traded hands, compared to its average volume of 9,999,135. The stock has a market capitalization of $167.67 billion, a price-to-earnings ratio of 17.63, a P/E/G ratio of 0.82 and a beta of 0.79. Charles Schwab has a 52 week low of $83.96 and a 52 week high of $114.53. The business has a fifty day simple moving average of $105.68 and a 200 day simple moving average of $98.14. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.64 and a current ratio of 0.64.

Charles Schwab (NYSE:SCHW - Get Free Report) last issued its quarterly earnings results on Tuesday, July 21st. The financial services provider reported $1.62 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.56 by $0.06. Charles Schwab had a return on equity of 24.53% and a net margin of 38.79%. The company had revenue of $7.07 billion during the quarter, compared to the consensus estimate of $6.90 billion. During the same period last year, the company earned $1.14 earnings per share. Charles Schwab's revenue was up 20.9% on a year-over-year basis. As a group, research analysts expect that Charles Schwab will post 6.46 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Paula Sneed sold 5,263 shares of the business's stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $107.15, for a total transaction of $563,930.45. Following the transaction, the director directly owned 91,711 shares in the company, valued at approximately $9,826,833.65. The trade was a 5.43% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, General Counsel Peter Morgan, III sold 6,952 shares of the company's stock in a transaction on Thursday, July 23rd. The shares were sold at an average price of $102.03, for a total value of $709,312.56. The SEC filing for this sale provides additional information. Insiders have sold a total of 645,582 shares of company stock worth $69,553,935 in the last ninety days. Company insiders own 6.30% of the company's stock.

Institutional Investors Weigh In On Charles Schwab

Hedge funds have recently added to or reduced their stakes in the business. Compass Financial Management LLC acquired a new stake in Charles Schwab in the second quarter valued at approximately $27,000. Scarborough Advisors LLC purchased a new position in Charles Schwab in the first quarter valued at approximately $29,000. Main Street Group LTD acquired a new stake in shares of Charles Schwab during the first quarter worth about $33,000. J.Safra Asset Management Corp purchased a new position in Charles Schwab during the 2nd quarter worth approximately $39,000. Finally, Washington Trust Advisors Inc. lifted its stake in Charles Schwab by 118.0% in the second quarter. Washington Trust Advisors Inc. now owns 447 shares of the financial services provider's stock valued at $41,000 after buying an additional 242 shares during the last quarter. 84.38% of the stock is currently owned by institutional investors and hedge funds.

About Charles Schwab

Charles Schwab Corporation NYSE: SCHW is a financial services company that provides brokerage, investment, banking and wealth management services to individual investors, employers, institutions and independent investment advisors. Its offerings include online and mobile trading, securities brokerage, retirement accounts, financial planning, portfolio management, banking products, research and access to mutual funds and exchange-traded funds.

The company operates through businesses including Schwab Brokerage, Schwab Wealth Advisory, Schwab Asset Management and Charles Schwab Bank.