Charles Schwab (NYSE:SCHW) Sets New 12-Month High on Analyst Upgrade

Shares of The Charles Schwab Co. (NYSE:SCHW - Get Free Report) hit a new 52-week high during trading on Monday after Piper Sandler raised their price target on the stock from $75.00 to $78.00. Piper Sandler currently has an overweight rating on the stock. Charles Schwab traded as high as $73.65 and last traded at $72.89, with a volume of 2672879 shares trading hands. The stock had previously closed at $70.03.

Several other brokerages also recently issued reports on SCHW. Barclays raised their price target on Charles Schwab from $68.00 to $74.00 and gave the company an "equal weight" rating in a report on Monday, April 8th. StockNews.com upgraded shares of Charles Schwab from a "sell" rating to a "hold" rating in a research note on Friday, March 15th. UBS Group raised their price objective on shares of Charles Schwab from $72.00 to $82.00 and gave the stock a "buy" rating in a research report on Friday, December 15th. JMP Securities upped their target price on Charles Schwab from $77.00 to $80.00 and gave the company a "market outperform" rating in a research report on Tuesday, April 9th. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on Charles Schwab from $75.00 to $77.00 and gave the company a "buy" rating in a report on Tuesday, March 19th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, Charles Schwab currently has a consensus rating of "Hold" and an average target price of $72.53.

Insider Transactions at Charles Schwab

In other Charles Schwab news, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the firm's stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $65.29, for a total value of $587,610.00. Following the sale, the director now owns 585,057 shares of the company's stock, valued at approximately $38,198,371.53. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, Chairman Charles R. Schwab sold 71,226 shares of the stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $64.99, for a total value of $4,628,977.74. Following the completion of the transaction, the chairman now owns 61,251,038 shares of the company's stock, valued at approximately $3,980,704,959.62. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the business's stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $65.29, for a total transaction of $587,610.00. Following the sale, the director now directly owns 585,057 shares in the company, valued at approximately $38,198,371.53. The disclosure for this sale can be found here. In the last 90 days, insiders sold 216,584 shares of company stock valued at $14,200,769. Company insiders own 6.60% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of SCHW. Providence Capital Advisors LLC bought a new stake in Charles Schwab during the 3rd quarter worth approximately $28,000. Main Street Group LTD bought a new stake in shares of Charles Schwab in the fourth quarter worth $29,000. Sugarloaf Wealth Management LLC increased its holdings in Charles Schwab by 60.0% in the fourth quarter. Sugarloaf Wealth Management LLC now owns 440 shares of the financial services provider's stock valued at $30,000 after purchasing an additional 165 shares during the period. Frazier Financial Advisors LLC bought a new position in Charles Schwab during the 4th quarter worth $30,000. Finally, Wetzel Investment Advisors Inc. acquired a new position in Charles Schwab during the 4th quarter worth about $31,000. 84.38% of the stock is currently owned by institutional investors.

Charles Schwab Price Performance

The business has a 50-day simple moving average of $67.74 and a 200 day simple moving average of $62.62. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.82. The stock has a market cap of $126.56 billion, a P/E ratio of 28.06, a price-to-earnings-growth ratio of 1.06 and a beta of 1.01.

Charles Schwab (NYSE:SCHW - Get Free Report) last released its earnings results on Wednesday, January 17th. The financial services provider reported $0.68 earnings per share for the quarter, beating analysts' consensus estimates of $0.64 by $0.04. Charles Schwab had a net margin of 26.90% and a return on equity of 21.33%. The business had revenue of $4.46 billion during the quarter, compared to the consensus estimate of $4.49 billion. During the same quarter in the prior year, the firm posted $1.07 EPS. The company's revenue for the quarter was down 18.9% compared to the same quarter last year. On average, analysts forecast that The Charles Schwab Co. will post 3.4 earnings per share for the current year.

Charles Schwab Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 23rd. Investors of record on Friday, February 9th were issued a $0.25 dividend. The ex-dividend date of this dividend was Thursday, February 8th. This represents a $1.00 annualized dividend and a yield of 1.40%. Charles Schwab's payout ratio is 39.37%.

Charles Schwab Company Profile

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.