The Charles Schwab Co. (NYSE:SCHW - Get Free Report)'s share price was up 2.6% during trading on Wednesday after TD Cowen raised their price target on the stock from $87.00 to $92.00. TD Cowen currently has a buy rating on the stock. Charles Schwab traded as high as $73.26 and last traded at $73.07. Approximately 12,021,566 shares changed hands during mid-day trading, an increase of 80% from the average daily volume of 6,668,537 shares. The stock had previously closed at $71.23.
Several other analysts have also recently commented on SCHW. The Goldman Sachs Group reiterated a "neutral" rating and set a $71.00 price target (up from $70.00) on shares of Charles Schwab in a research report on Wednesday, January 3rd. Morgan Stanley boosted their price target on Charles Schwab from $65.00 to $71.00 and gave the stock an "equal weight" rating in a research report on Tuesday, April 9th. JPMorgan Chase & Co. upped their target price on Charles Schwab from $86.00 to $89.00 and gave the company an "overweight" rating in a report on Tuesday. Raymond James dropped their target price on Charles Schwab from $78.00 to $75.00 and set an "outperform" rating for the company in a report on Thursday, January 18th. Finally, Bank of America upped their target price on Charles Schwab from $68.00 to $70.00 and gave the company an "underperform" rating in a report on Tuesday. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $74.47.
Check Out Our Latest Stock Analysis on SCHW
Insider Transactions at Charles Schwab
In related news, insider Jonathan M. Craig sold 4,977 shares of the firm's stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $70.01, for a total transaction of $348,439.77. Following the completion of the transaction, the insider now directly owns 81,446 shares in the company, valued at approximately $5,702,034.46. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Jonathan M. Craig sold 4,977 shares of the firm's stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $70.01, for a total transaction of $348,439.77. Following the completion of the transaction, the insider now directly owns 81,446 shares in the company, valued at approximately $5,702,034.46. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Charles R. Schwab sold 71,226 shares of the stock in a transaction dated 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 sale, the chairman now directly owns 61,251,038 shares in the company, valued at approximately $3,980,704,959.62. The disclosure for this sale can be found here. In the last ninety days, insiders sold 216,584 shares of company stock worth $14,200,769. 6.60% of the stock is currently owned by company insiders.
Institutional Investors Weigh In On Charles Schwab
Hedge funds have recently bought and sold shares of the stock. Signet Financial Management LLC raised its position in shares of Charles Schwab by 0.3% during the 4th quarter. Signet Financial Management LLC now owns 49,378 shares of the financial services provider's stock worth $4,111,000 after acquiring an additional 139 shares in the last quarter. Courier Capital LLC raised its position in shares of Charles Schwab by 0.4% during the 4th quarter. Courier Capital LLC now owns 45,539 shares of the financial services provider's stock worth $3,133,000 after acquiring an additional 161 shares in the last quarter. Investment Advisory Services Inc. TX ADV raised its position in shares of Charles Schwab by 0.5% during the 4th quarter. Investment Advisory Services Inc. TX ADV now owns 32,642 shares of the financial services provider's stock worth $2,718,000 after acquiring an additional 164 shares in the last quarter. Sugarloaf Wealth Management LLC raised its position in shares of Charles Schwab by 60.0% during the 4th quarter. Sugarloaf Wealth Management LLC now owns 440 shares of the financial services provider's stock worth $30,000 after acquiring an additional 165 shares in the last quarter. Finally, Sculati Wealth Management LLC raised its position in shares of Charles Schwab by 0.4% during the 4th quarter. Sculati Wealth Management LLC now owns 42,971 shares of the financial services provider's stock worth $2,956,000 after acquiring an additional 165 shares in the last quarter. Institutional investors and hedge funds own 84.38% of the company's stock.
Charles Schwab Stock Performance
The company has a market cap of $128.76 billion, a price-to-earnings ratio of 30.57, a price-to-earnings-growth ratio of 1.08 and a beta of 1.01. The firm has a 50-day simple moving average of $67.97 and a 200 day simple moving average of $62.75. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.82.
Charles Schwab (NYSE:SCHW - Get Free Report) last released its quarterly earnings results on Wednesday, January 17th. The financial services provider reported $0.68 EPS for the quarter, topping the consensus estimate of $0.64 by $0.04. The company had revenue of $4.46 billion for the quarter, compared to analyst estimates of $4.49 billion. Charles Schwab had a return on equity of 19.86% and a net margin of 26.14%. The firm's revenue was down 18.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.07 earnings per share. On average, sell-side analysts predict that The Charles Schwab Co. will post 3.4 earnings per share for the current fiscal year.
Charles Schwab Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Friday, February 23rd. Shareholders of record on Friday, February 9th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.38%. The ex-dividend date was Thursday, February 8th. Charles Schwab's dividend payout ratio (DPR) is 41.84%.
About Charles Schwab
(
Get Free Report)
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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