Charles Schwab (NYSE:SCHW) Given New $113.00 Price Target at Deutsche Bank Aktiengesellschaft

Key Points

• Deutsche Bank Aktiengesellschaft lowered its price target for Charles Schwab from $114.00 to $113.00, maintaining a "buy" rating, indicating a potential upside of 24.13% from the current stock price.
• Charles Schwab reported a quarterly earnings per share (EPS) of $1.14, exceeding expectations, and experienced a revenue increase of 24.8% compared to the prior year.
• The company has authorized a $20 billion stock buyback program, reflecting management's confidence in the stock's valuation.

Charles Schwab (NYSE:SCHW - Get Free Report) had its price target dropped by Deutsche Bank Aktiengesellschaft from $114.00 to $113.00 in a report issued on Tuesday,Benzinga reports. The brokerage currently has a "buy" rating on the financial services provider's stock. Deutsche Bank Aktiengesellschaft's price objective suggests a potential upside of 24.13% from the company's current price.

Other equities research analysts also recently issued reports about the company. JMP Securities increased their price objective on Charles Schwab from $106.00 to $110.00 and gave the stock a "market outperform" rating in a research note on Monday, July 21st. Wells Fargo & Company set a $102.00 price target on Charles Schwab and gave the stock an "overweight" rating in a research note on Friday, July 18th. Cowen reaffirmed a "buy" rating on shares of Charles Schwab in a research note on Tuesday, May 20th. Morgan Stanley raised their price target on Charles Schwab from $117.00 to $131.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 29th. Finally, Raymond James Financial reaffirmed an "outperform" rating and set a $99.00 price target on shares of Charles Schwab in a research note on Friday, July 18th. Sixteen equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $100.00.

Charles Schwab Stock Down 1.2%

Shares of Charles Schwab stock traded down $1.07 on Tuesday, hitting $91.03. 6,284,044 shares of the company's stock traded hands, compared to its average volume of 9,915,005. The stock has a market cap of $165.24 billion, a P/E ratio of 24.47, a PEG ratio of 0.92 and a beta of 0.96. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 0.47. The firm's 50-day moving average is $95.40 and its 200 day moving average is $86.96. Charles Schwab has a 52-week low of $62.41 and a 52-week high of $99.59.

Charles Schwab (NYSE:SCHW - Get Free Report) last released its quarterly earnings results on Friday, July 18th. The financial services provider reported $1.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.10 by $0.04. Charles Schwab had a return on equity of 19.30% and a net margin of 33.68%.The company had revenue of $5.85 billion during the quarter, compared to analysts' expectations of $5.64 billion. During the same quarter in the prior year, the business posted $0.73 earnings per share. The company's revenue for the quarter was up 24.8% compared to the same quarter last year. Equities analysts anticipate that Charles Schwab will post 4.22 earnings per share for the current year.

Charles Schwab announced that its Board of Directors has authorized a stock buyback program on Thursday, July 24th that permits the company to buyback $20.00 billion in outstanding shares. This buyback authorization permits the financial services provider to buy up to 11.6% of its shares through open market purchases. Shares buyback programs are often a sign that the company's management believes its shares are undervalued.

Insider Activity at Charles Schwab

In other news, insider Paul V. Woolway sold 3,205 shares of Charles Schwab stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $95.20, for a total transaction of $305,116.00. Following the sale, the insider owned 37,983 shares of the company's stock, valued at approximately $3,615,981.60. This trade represents a 7.78% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Walter W. Bettinger sold 173,876 shares of Charles Schwab stock in a transaction that occurred on Tuesday, July 29th. The stock was sold at an average price of $98.84, for a total value of $17,185,903.84. Following the sale, the chairman directly owned 590,734 shares in the company, valued at $58,388,148.56. The trade was a 22.74% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 298,214 shares of company stock worth $29,022,580 in the last three months. Company insiders own 6.30% of the company's stock.

Institutional Trading of Charles Schwab

Several institutional investors have recently bought and sold shares of the stock. Norges Bank acquired a new position in Charles Schwab in the second quarter worth $1,889,858,000. Vanguard Group Inc. raised its position in shares of Charles Schwab by 15.4% during the first quarter. Vanguard Group Inc. now owns 148,395,252 shares of the financial services provider's stock worth $11,616,380,000 after acquiring an additional 19,817,022 shares during the last quarter. Wellington Management Group LLP raised its position in shares of Charles Schwab by 595.7% during the first quarter. Wellington Management Group LLP now owns 15,488,777 shares of the financial services provider's stock worth $1,212,461,000 after acquiring an additional 13,262,309 shares during the last quarter. Primecap Management Co. CA raised its position in shares of Charles Schwab by 229.3% during the first quarter. Primecap Management Co. CA now owns 14,002,078 shares of the financial services provider's stock worth $1,096,083,000 after acquiring an additional 9,749,728 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD raised its position in shares of Charles Schwab by 12.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 82,048,984 shares of the financial services provider's stock worth $6,422,795,000 after acquiring an additional 8,954,248 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.

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