Truist Financial Forecasts Strong Price Appreciation for Charles Schwab (NYSE:SCHW) Stock

Charles Schwab (NYSE:SCHW - Free Report) had its target price hoisted by Truist Financial from $100.00 to $107.00 in a research report report published on Monday,Benzinga reports. They currently have a buy rating on the financial services provider's stock.

A number of other analysts have also recently issued reports on SCHW. Cowen restated a "buy" rating on shares of Charles Schwab in a research report on Tuesday, May 20th. Keefe, Bruyette & Woods boosted their price objective on Charles Schwab from $102.00 to $108.00 and gave the company an "outperform" rating in a research report on Monday. Piper Sandler upped their price target on Charles Schwab from $80.00 to $92.00 and gave the company a "neutral" rating in a research report on Tuesday, July 15th. TD Securities upped their price target on Charles Schwab from $95.00 to $113.00 and gave the company a "buy" rating in a research report on Tuesday, May 20th. Finally, JMP Securities upped their price target on Charles Schwab from $94.00 to $106.00 and gave the company a "market outperform" rating in a research report on Monday, July 14th. Two 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.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $98.65.

Charles Schwab Stock Down 0.8%

NYSE:SCHW traded down $0.76 on Monday, hitting $95.49. 8,863,789 shares of the company's stock traded hands, compared to its average volume of 9,354,105. 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 $61.15 and a 1 year high of $97.50. The firm has a 50-day moving average price of $89.44 and a 200-day moving average price of $82.15. The company has a market cap of $173.50 billion, a PE ratio of 25.67, a price-to-earnings-growth ratio of 1.00 and a beta of 0.93.

Charles Schwab (NYSE:SCHW - Get Free Report) last announced its quarterly earnings results 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. Charles Schwab had a return on equity of 19.73% and a net margin of 33.68%. The business had revenue of $5.85 billion during the quarter, compared to analyst estimates of $5.64 billion. During the same period in the previous year, the company earned $0.73 EPS. The firm's revenue was up 24.8% on a year-over-year basis. Equities analysts anticipate that Charles Schwab will post 4.22 EPS for the current fiscal year.

Charles Schwab Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 23rd. Stockholders of record on Friday, May 9th were paid a dividend of $0.27 per share. The ex-dividend date of this dividend was Friday, May 9th. This represents a $1.08 annualized dividend and a dividend yield of 1.13%. Charles Schwab's dividend payout ratio is currently 29.03%.

Insider Buying and Selling at Charles Schwab

In other Charles Schwab news, General Counsel Peter J. Morgan III sold 10,176 shares of Charles Schwab stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $87.39, for a total value of $889,280.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Paula A. Sneed sold 8,647 shares of Charles Schwab stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $88.06, for a total value of $761,454.82. Following the completion of the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 116,313 shares of company stock worth $10,264,091 in the last 90 days. Company insiders own 6.30% of the company's stock.

Hedge Funds Weigh In On Charles Schwab

Hedge funds and other institutional investors have recently modified their holdings of the business. Cary Street Partners Financial LLC bought a new stake in shares of Charles Schwab in the 4th quarter valued at about $1,455,000. Graham Capital Management L.P. grew its position in shares of Charles Schwab by 248.3% in the 4th quarter. Graham Capital Management L.P. now owns 112,376 shares of the financial services provider's stock valued at $8,317,000 after buying an additional 80,112 shares during the last quarter. World Investment Advisors grew its position in shares of Charles Schwab by 7.6% in the 1st quarter. World Investment Advisors now owns 163,007 shares of the financial services provider's stock valued at $12,760,000 after buying an additional 11,505 shares during the last quarter. State of Alaska Department of Revenue grew its position in shares of Charles Schwab by 17.2% in the 1st quarter. State of Alaska Department of Revenue now owns 199,687 shares of the financial services provider's stock valued at $15,631,000 after buying an additional 29,255 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund grew its position in shares of Charles Schwab by 14.3% in the 1st quarter. Oregon Public Employees Retirement Fund now owns 146,392 shares of the financial services provider's stock valued at $11,460,000 after buying an additional 18,280 shares during the last quarter. Institutional investors 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.