Citigroup Issues Positive Forecast for Charles Schwab (NYSE:SCHW) Stock Price

Charles Schwab (NYSE:SCHW - Get Free Report) had its price objective boosted by equities research analysts at Citigroup from $102.00 to $105.00 in a research report issued on Monday,Benzinga reports. The firm presently has a "buy" rating on the financial services provider's stock. Citigroup's target price suggests a potential upside of 13.37% from the company's previous close.

Other equities research analysts have also issued research reports about the stock. JMP Securities restated a "market outperform" rating and issued a $94.00 target price on shares of Charles Schwab in a report on Monday, April 21st. Keefe, Bruyette & Woods raised 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. Piper Sandler raised their price target on shares of Charles Schwab from $74.00 to $80.00 in a research report on Thursday, April 17th. The Goldman Sachs Group raised shares of Charles Schwab from a "neutral" rating to a "buy" rating and set a $100.00 price target on the stock in a research report on Friday, April 25th. Finally, Cowen reaffirmed a "buy" rating on shares of Charles Schwab in a research report on Tuesday, May 20th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat.com, Charles Schwab currently has a consensus rating of "Moderate Buy" and an average target price of $89.55.

Charles Schwab Trading Up 1.2%

SCHW stock traded up $1.14 during midday trading on Monday, hitting $92.62. The stock had a trading volume of 7,299,828 shares, compared to its average volume of 9,563,143. The firm has a market cap of $168.29 billion, a P/E ratio of 28.07, a price-to-earnings-growth ratio of 0.98 and a beta of 0.93. The company has a current ratio of 0.53, a quick ratio of 0.53 and a debt-to-equity ratio of 0.53. Charles Schwab has a 1-year low of $61.01 and a 1-year high of $92.63. The business has a fifty day moving average price of $87.69 and a two-hundred day moving average price of $81.01.

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

Insider Activity

In related news, insider Jonathan M. Craig sold 47,500 shares of Charles Schwab stock in a transaction that occurred on Wednesday, May 21st. The shares were sold at an average price of $88.46, for a total value of $4,201,850.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Paula A. Sneed sold 8,647 shares of Charles Schwab stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $88.06, for a total transaction of $761,454.82. Following the completion of the sale, the director directly owned 105,654 shares in the company, valued at $9,303,891.24. This trade represents a 7.57% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 119,905 shares of company stock worth $10,530,833. Corporate insiders own 6.30% of the company's stock.

Institutional Investors Weigh In On Charles Schwab

A number of hedge funds have recently modified their holdings of SCHW. Atwood & Palmer Inc. purchased a new position in Charles Schwab in the 1st quarter valued at approximately $25,000. Westside Investment Management Inc. grew its stake in Charles Schwab by 75.0% in the 1st quarter. Westside Investment Management Inc. now owns 350 shares of the financial services provider's stock valued at $27,000 after buying an additional 150 shares in the last quarter. CBIZ Investment Advisory Services LLC grew its stake in Charles Schwab by 97.9% in the 1st quarter. CBIZ Investment Advisory Services LLC now owns 386 shares of the financial services provider's stock valued at $30,000 after buying an additional 191 shares in the last quarter. Stone House Investment Management LLC purchased a new position in Charles Schwab in the 1st quarter valued at approximately $31,000. Finally, Activest Wealth Management grew its stake in Charles Schwab by 6,650.0% in the 1st quarter. Activest Wealth Management now owns 405 shares of the financial services provider's stock valued at $32,000 after buying an additional 399 shares in the last quarter. Institutional investors 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.