Truist Financial Forecasts Strong Price Appreciation for Charles Schwab (NYSE:SCHW) Stock

Charles Schwab (NYSE:SCHW - Free Report) had its price target raised by Truist Financial from $97.00 to $100.00 in a research note released on Monday morning,Benzinga reports. The firm currently has a buy rating on the financial services provider's stock.

A number of other brokerages have also recently issued reports on SCHW. Wells Fargo & Company reduced their price objective on shares of Charles Schwab from $93.00 to $87.00 and set an "overweight" rating for the company in a report on Tuesday, April 8th. TD Cowen raised shares of Charles Schwab from a "hold" rating to a "buy" rating and boosted their price target for the company from $88.00 to $103.00 in a research report on Tuesday, February 18th. UBS Group boosted their price target on shares of Charles Schwab from $95.00 to $96.00 and gave the company a "buy" rating in a research report on Tuesday, April 22nd. Redburn Atlantic raised shares of Charles Schwab from a "sell" rating to a "neutral" rating and boosted their price target for the company from $65.00 to $82.00 in a research report on Monday, June 9th. Finally, Keefe, Bruyette & Woods boosted their price target on shares of Charles Schwab from $90.00 to $93.00 and gave the company an "outperform" rating in a research report on Tuesday, April 22nd. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and fifteen have given a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $89.40.

Charles Schwab Trading Up 1.8%

NYSE:SCHW traded up $1.59 during mid-day trading on Monday, hitting $88.95. 7,395,115 shares of the company's stock were exchanged, compared to its average volume of 9,422,756. The company has a 50 day simple moving average of $83.30 and a 200-day simple moving average of $79.84. 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 has a market capitalization of $161.61 billion, a P/E ratio of 29.75, a PEG ratio of 0.99 and a beta of 0.94. Charles Schwab has a fifty-two week low of $61.01 and a fifty-two week high of $89.85.

Charles Schwab (NYSE:SCHW - Get Free Report) last issued its quarterly earnings results on Thursday, April 17th. The financial services provider reported $1.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.01 by $0.03. The firm had revenue of $5.60 billion for the quarter, compared to analyst estimates of $5.46 billion. Charles Schwab had a return on equity of 18.20% and a net margin of 30.31%. During the same period in the previous year, the firm earned $0.74 earnings per share. As a group, research analysts expect that Charles Schwab will post 4.22 earnings per share for the current year.

Charles Schwab Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, May 23rd. Investors of record on Friday, May 9th were paid a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 1.21%. The ex-dividend date was Friday, May 9th. Charles Schwab's payout ratio is currently 32.73%.

Insider Buying and Selling at Charles Schwab

In other news, insider Jonathan S. Beatty sold 2,850 shares of the firm's stock in a transaction on Friday, May 30th. The shares were sold at an average price of $87.57, for a total value of $249,574.50. Following the completion of the sale, the insider now owns 15,219 shares in the company, valued at approximately $1,332,727.83. This trade represents a 15.77% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Paul V. Woolway sold 3,290 shares of the firm's stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $87.68, for a total transaction of $288,467.20. Following the transaction, the insider now owns 39,154 shares of the company's stock, valued at $3,433,022.72. This trade represents a 7.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 97,608 shares of company stock valued at $8,392,040. Insiders own 6.30% of the company's stock.

Hedge Funds Weigh In On Charles Schwab

Several hedge funds and other institutional investors have recently modified their holdings of the company. Atwood & Palmer Inc. acquired a new stake in Charles Schwab in the first quarter worth about $25,000. Westside Investment Management Inc. lifted its holdings in Charles Schwab by 75.0% in the first quarter. Westside Investment Management Inc. now owns 350 shares of the financial services provider's stock worth $27,000 after purchasing an additional 150 shares during the period. CBIZ Investment Advisory Services LLC lifted its holdings in Charles Schwab by 97.9% in the first quarter. CBIZ Investment Advisory Services LLC now owns 386 shares of the financial services provider's stock worth $30,000 after purchasing an additional 191 shares during the period. Stone House Investment Management LLC acquired a new stake in Charles Schwab in the first quarter worth about $31,000. Finally, Activest Wealth Management raised its position in Charles Schwab by 6,650.0% in the first quarter. Activest Wealth Management now owns 405 shares of the financial services provider's stock worth $32,000 after acquiring an additional 399 shares in the last quarter. Institutional investors and hedge funds own 84.38% of the company's stock.

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.