Charles Schwab (NYSE:SCHW) Price Target Raised to $110.00 at Citigroup

Charles Schwab (NYSE:SCHW - Get Free Report) had its price objective increased by analysts at Citigroup from $105.00 to $110.00 in a report released on Monday,Benzinga reports. The firm presently has a "buy" rating on the financial services provider's stock. Citigroup's price objective suggests a potential upside of 14.02% from the stock's current price.

Other equities research analysts have also recently issued research reports about the stock. JMP Securities increased their target price on shares of Charles Schwab from $106.00 to $110.00 and gave the company a "market outperform" rating in a research report on Monday. TD Securities boosted their target price on shares of Charles Schwab from $95.00 to $113.00 and gave the stock a "buy" rating in a research report on Tuesday, May 20th. Truist Financial boosted their target price on shares of Charles Schwab from $100.00 to $107.00 and gave the stock a "buy" rating in a research report on Monday. Morgan Stanley reissued an "overweight" rating and issued a $117.00 target price (up from $83.00) on shares of Charles Schwab in a research report on Tuesday, July 15th. Finally, UBS Group upped their target price on Charles Schwab from $95.00 to $96.00 and gave the company a "buy" rating in a research report on Tuesday, April 22nd. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat, Charles Schwab currently has a consensus rating of "Moderate Buy" and a consensus target price of $98.65.

Charles Schwab Trading Up 0.7%

Shares of NYSE SCHW traded up $0.67 during trading hours on Monday, reaching $96.47. The stock had a trading volume of 2,908,483 shares, compared to its average volume of 9,321,504. The company has a current ratio of 0.53, a quick ratio of 0.53 and a debt-to-equity ratio of 0.53. The firm has a market cap of $175.29 billion, a price-to-earnings ratio of 25.94, a P/E/G ratio of 1.00 and a beta of 0.93. The business's fifty day moving average price is $89.44 and its two-hundred day moving average price is $82.15. Charles Schwab has a 52-week low of $61.15 and a 52-week high of $97.50.

Charles Schwab (NYSE:SCHW - Get Free Report) last issued its quarterly earnings data on Friday, July 18th. The financial services provider reported $1.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.10 by $0.04. The company had revenue of $5.85 billion for the quarter, compared to analyst estimates of $5.64 billion. Charles Schwab had a net margin of 33.68% and a return on equity of 19.73%. Charles Schwab's revenue was up 24.8% compared to the same quarter last year. During the same period last year, the company posted $0.73 earnings per share. Analysts expect that Charles Schwab will post 4.22 EPS for the current fiscal year.

Insider Activity

In related news, Director Paula A. Sneed sold 8,647 shares of the company's stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $88.06, for a total transaction of $761,454.82. Following the sale, the director directly owned 105,654 shares of the company's stock, valued at $9,303,891.24. This represents a 7.57% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Nigel J. Murtagh sold 20,872 shares of Charles Schwab stock in a transaction that occurred on Wednesday, June 18th. The stock was sold at an average price of $90.01, for a total transaction of $1,878,688.72. Following the completion of the transaction, the insider owned 58,999 shares of the company's stock, valued at $5,310,499.99. This represents a 26.13% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 116,313 shares of company stock worth $10,264,091 in the last three months. 6.30% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Charles Schwab

Hedge funds have recently modified their holdings of the stock. Pine Haven Investment Counsel Inc boosted its stake in shares of Charles Schwab by 0.3% in the 2nd quarter. Pine Haven Investment Counsel Inc now owns 41,793 shares of the financial services provider's stock valued at $3,813,000 after purchasing an additional 110 shares during the last quarter. Traveka Wealth LLC raised its position in Charles Schwab by 4.3% in the second quarter. Traveka Wealth LLC now owns 2,841 shares of the financial services provider's stock valued at $259,000 after purchasing an additional 117 shares during the last quarter. Bank of Stockton grew its stake in Charles Schwab by 1.2% during the second quarter. Bank of Stockton now owns 10,593 shares of the financial services provider's stock worth $967,000 after purchasing an additional 123 shares during the period. Sheaff Brock Investment Advisors LLC lifted its holdings in shares of Charles Schwab by 1.6% in the 1st quarter. Sheaff Brock Investment Advisors LLC now owns 7,986 shares of the financial services provider's stock worth $625,000 after purchasing an additional 129 shares in the last quarter. Finally, HM Payson & Co. lifted its stake in Charles Schwab by 0.7% during the 1st quarter. HM Payson & Co. now owns 19,271 shares of the financial services provider's stock valued at $1,509,000 after acquiring an additional 130 shares in 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.

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