Charles Schwab (NYSE:SCHW) Price Target Cut to $83.00

Charles Schwab (NYSE:SCHW - Free Report) had its price objective lowered by Deutsche Bank Aktiengesellschaft from $86.00 to $83.00 in a research report released on Thursday, Benzinga reports. Deutsche Bank Aktiengesellschaft currently has a buy rating on the financial services provider's stock.

Several other research analysts also recently commented on the stock. JMP Securities reaffirmed a market outperform rating and issued a $80.00 price target on shares of Charles Schwab in a research note on Tuesday, April 16th. Barclays upped their target price on Charles Schwab from $74.00 to $75.00 and gave the stock an equal weight rating in a report on Tuesday, April 16th. Citigroup increased their price objective on shares of Charles Schwab from $70.00 to $75.00 and gave the company a neutral rating in a research note on Thursday, April 11th. Bank of America increased their target price on Charles Schwab from $68.00 to $70.00 and gave the company an underperform rating in a research report on Tuesday, April 16th. Finally, StockNews.com raised shares of Charles Schwab from a sell rating to a hold rating in a research report on Friday, March 15th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, Charles Schwab presently has a consensus rating of Hold and an average price target of $75.12.

Charles Schwab Trading Down 3.9 %

NYSE SCHW traded down $2.93 during trading hours on Thursday, hitting $72.34. 14,673,379 shares of the company were exchanged, compared to its average volume of 7,615,976. The stock has a market cap of $128.57 billion, a PE ratio of 30.27, a price-to-earnings-growth ratio of 1.15 and a beta of 0.98. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 0.69. The stock has a 50-day moving average price of $73.39 and a 200 day moving average price of $67.01. Charles Schwab has a 52 week low of $48.66 and a 52 week high of $79.49.

Charles Schwab (NYSE:SCHW - Get Free Report) last released its earnings results on Monday, April 15th. The financial services provider reported $0.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.73 by $0.01. Charles Schwab had a net margin of 26.14% and a return on equity of 19.25%. The firm had revenue of $4.74 billion during the quarter, compared to analyst estimates of $4.71 billion. Analysts forecast that Charles Schwab will post 3.4 earnings per share for the current fiscal year.

Charles Schwab Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 24th. Shareholders of record on Friday, May 10th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.38%. The ex-dividend date of this dividend is Thursday, May 9th. Charles Schwab's dividend payout ratio is presently 41.84%.

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 that occurred on Wednesday, February 28th. The shares were sold at an average price of $65.29, for a total transaction of $587,610.00. Following the sale, the director now owns 585,057 shares of the company's stock, valued at $38,198,371.53. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Charles Schwab news, insider Jonathan M. Craig sold 4,977 shares of Charles Schwab stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $70.01, for a total value of $348,439.77. Following the transaction, the insider now directly owns 81,446 shares in the company, valued at $5,702,034.46. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the 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 directly owns 585,057 shares of the company's stock, valued at $38,198,371.53. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 622,536 shares of company stock valued at $46,208,155. Corporate insiders own 6.60% of the company's stock.

Institutional Trading of Charles Schwab

Several hedge funds have recently made changes to their positions in the company. WealthPlan Investment Management LLC purchased a new stake in shares of Charles Schwab in the third quarter valued at approximately $1,458,000. Private Advisor Group LLC increased its stake in Charles Schwab by 9.0% in the 3rd quarter. Private Advisor Group LLC now owns 104,479 shares of the financial services provider's stock valued at $5,736,000 after purchasing an additional 8,643 shares in the last quarter. Larson Financial Group LLC grew its holdings in Charles Schwab by 522.3% in the third quarter. Larson Financial Group LLC now owns 2,234 shares of the financial services provider's stock valued at $123,000 after purchasing an additional 1,875 shares during the last quarter. NBC Securities Inc. purchased a new position in shares of Charles Schwab in the third quarter valued at $909,000. Finally, Achmea Investment Management B.V. raised its stake in shares of Charles Schwab by 64.5% during the 3rd quarter. Achmea Investment Management B.V. now owns 88,583 shares of the financial services provider's stock worth $4,863,000 after buying an additional 34,749 shares during the last quarter. Institutional investors and hedge funds own 84.38% of the company's stock.

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.