Charles Schwab (NYSE:SCHW) Price Target Raised to $92.00 at Piper Sandler

Charles Schwab (NYSE:SCHW - Free Report) had its price objective hoisted by Piper Sandler from $80.00 to $92.00 in a research report released on Tuesday morning,Benzinga reports. The firm currently has a neutral rating on the financial services provider's stock.

A number of other analysts have also recently issued reports on SCHW. Cowen reissued a "buy" rating on shares of Charles Schwab in a research report on Tuesday, May 20th. JPMorgan Chase & Co. lifted their target price on Charles Schwab from $92.00 to $95.00 and gave the company an "overweight" rating in a research note on Monday, April 21st. Raymond James Financial lifted their target price on Charles Schwab from $91.00 to $99.00 and gave the company an "outperform" rating in a research note on Wednesday, July 9th. William Blair downgraded Charles Schwab from a "strong-buy" rating to a "hold" rating in a research note on Thursday, July 3rd. Finally, Truist Financial lifted their target price on Charles Schwab from $97.00 to $100.00 and gave the company a "buy" rating in a research note on Monday, June 16th. Two analysts have rated the stock with a sell rating, four have given a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $95.60.

Charles Schwab Stock Down 0.5%

Shares of SCHW traded down $0.44 during mid-day trading on Tuesday, reaching $91.18. The company's stock had a trading volume of 7,700,633 shares, compared to its average volume of 9,569,663. Charles Schwab has a 12-month low of $61.01 and a 12-month high of $93.35. The stock has a market cap of $165.66 billion, a PE ratio of 27.61, a price-to-earnings-growth ratio of 0.98 and a beta of 0.93. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.53 and a quick ratio of 0.53. The company's 50 day moving average is $88.89 and its 200 day moving average is $81.69.

Charles Schwab (NYSE:SCHW - Get Free Report) last released its quarterly earnings data on Thursday, April 17th. The financial services provider reported $1.04 EPS for the quarter, beating analysts' consensus estimates of $1.01 by $0.03. Charles Schwab had a return on equity of 18.31% and a net margin of 31.71%. The business had revenue of $5.60 billion for the quarter, compared to the consensus estimate of $5.46 billion. During the same quarter in the prior year, the business posted $0.74 EPS. Equities analysts anticipate that Charles Schwab will post 4.22 EPS for the current fiscal year.

Charles Schwab Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, May 23rd. Stockholders of record on Friday, May 9th were issued a $0.27 dividend. The ex-dividend date was Friday, May 9th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.18%. Charles Schwab's dividend payout ratio (DPR) is 32.73%.

Insider Buying and Selling

In other news, insider Paul V. Woolway sold 10,129 shares of the business's stock in a transaction on Wednesday, June 18th. The stock was sold at an average price of $90.01, for a total value of $911,711.29. Following the completion of the transaction, the insider directly owned 39,154 shares of the company's stock, valued at $3,524,251.54. The trade was a 20.55% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Jonathan M. Craig sold 47,500 shares of the business's stock in a transaction on Wednesday, May 21st. The stock was sold at an average price of $88.46, for a total value of $4,201,850.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 119,905 shares of company stock valued at $10,530,833. Company insiders own 6.30% of the company's stock.

Hedge Funds Weigh In On Charles Schwab

A number of institutional investors have recently made changes to their positions in the stock. Brighton Jones LLC increased its stake in Charles Schwab by 380.5% during the fourth quarter. Brighton Jones LLC now owns 24,240 shares of the financial services provider's stock worth $1,794,000 after acquiring an additional 19,195 shares during the last quarter. Proficio Capital Partners LLC acquired a new stake in Charles Schwab during the fourth quarter worth about $441,000. Harbour Investments Inc. increased its stake in Charles Schwab by 2.7% during the fourth quarter. Harbour Investments Inc. now owns 7,818 shares of the financial services provider's stock worth $579,000 after acquiring an additional 206 shares during the last quarter. Signaturefd LLC increased its stake in Charles Schwab by 6.2% during the fourth quarter. Signaturefd LLC now owns 25,410 shares of the financial services provider's stock worth $1,881,000 after acquiring an additional 1,474 shares during the last quarter. Finally, Axxcess Wealth Management LLC increased its stake in Charles Schwab by 71.0% during the fourth quarter. Axxcess Wealth Management LLC now owns 13,205 shares of the financial services provider's stock worth $977,000 after acquiring an additional 5,483 shares during the last quarter. 84.38% of the stock is 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.