Charles Schwab (NYSE:SCHW) Stock Price Expected to Rise, JMP Securities Analyst Says

Charles Schwab (NYSE:SCHW - Get Free Report) had its price target upped by research analysts at JMP Securities from $94.00 to $106.00 in a report issued on Monday,Benzinga reports. The brokerage currently has a "market outperform" rating on the financial services provider's stock. JMP Securities' price target suggests a potential upside of 15.69% from the stock's current price.

A number of other research firms have also recently issued reports on SCHW. Redburn Atlantic raised shares of Charles Schwab from a "sell" rating to a "neutral" rating and raised their price target for the stock from $65.00 to $82.00 in a report on Monday, June 9th. Barclays raised their target price on shares of Charles Schwab from $89.00 to $106.00 and gave the stock an "overweight" rating in a report on Thursday, July 10th. Morgan Stanley raised their target price on shares of Charles Schwab from $76.00 to $83.00 and gave the stock an "overweight" rating in a report on Tuesday, May 13th. Citigroup raised their target price on shares of Charles Schwab from $102.00 to $105.00 and gave the stock a "buy" rating in a report on Monday, July 7th. Finally, Piper Sandler raised their target price on shares of Charles Schwab from $74.00 to $80.00 in a report on Thursday, April 17th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Charles Schwab presently has an average rating of "Moderate Buy" and a consensus price target of $95.60.

Charles Schwab Stock Down 1.2%

Shares of NYSE SCHW traded down $1.07 during midday trading on Monday, reaching $91.63. 7,257,533 shares of the company's stock traded hands, compared to its average volume of 9,574,720. The company has a quick ratio of 0.53, a current ratio of 0.53 and a debt-to-equity ratio of 0.53. The stock's 50 day simple moving average is $88.89 and its 200-day simple moving average is $81.69. Charles Schwab has a one year low of $61.01 and a one year high of $93.35. The company has a market cap of $166.49 billion, a price-to-earnings ratio of 27.77, a P/E/G ratio of 0.98 and a beta of 0.93.

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

Insider Buying and Selling

In related news, Director Paula A. Sneed sold 8,647 shares of the firm's stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $88.06, for a total value of $761,454.82. Following the completion of the sale, the director owned 105,654 shares in the company, valued at $9,303,891.24. This trade represents a 7.57% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, General Counsel Peter J. Morgan III sold 10,176 shares of the firm's stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $87.39, for a total transaction of $889,280.64. The disclosure for this sale can be found here. In the last three months, insiders have sold 119,905 shares of company stock worth $10,530,833. 6.30% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Charles Schwab

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SCHW. Atwood & Palmer Inc. purchased a new stake in shares of Charles Schwab during the first quarter worth about $25,000. Westside Investment Management Inc. grew its holdings in shares of Charles Schwab by 75.0% during the first quarter. Westside Investment Management Inc. now owns 350 shares of the financial services provider's stock worth $27,000 after buying an additional 150 shares in the last quarter. CBIZ Investment Advisory Services LLC grew its holdings in shares of Charles Schwab by 97.9% during the first quarter. CBIZ Investment Advisory Services LLC now owns 386 shares of the financial services provider's stock worth $30,000 after buying an additional 191 shares in the last quarter. Stone House Investment Management LLC purchased a new stake in shares of Charles Schwab during the first quarter worth about $31,000. Finally, Activest Wealth Management grew its holdings in shares of Charles Schwab by 6,650.0% during the first quarter. Activest Wealth Management now owns 405 shares of the financial services provider's stock worth $32,000 after buying 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.