Charles Schwab (NYSE:SCHW) Now Covered by Wells Fargo & Company

Equities research analysts at Wells Fargo & Company began coverage on shares of Charles Schwab (NYSE:SCHW) in a note issued to investors on Thursday, MarketBeat reports. The brokerage set an “equal weight” rating and a $70.00 price target on the financial services provider’s stock. Wells Fargo & Company‘s price target suggests a potential upside of 12.69% from the stock’s current price.

A number of other analysts also recently issued reports on the stock. Bank of America cut their price objective on shares of Charles Schwab from $72.00 to $66.00 and set an “underperform” rating for the company in a report on Wednesday, July 17th. UBS Group cut their price objective on shares of Charles Schwab from $91.00 to $90.00 and set a “buy” rating for the company in a report on Tuesday, July 9th. JPMorgan Chase & Co. cut their price objective on shares of Charles Schwab from $82.00 to $78.00 and set an “overweight” rating for the company in a report on Wednesday, July 17th. Piper Sandler downgraded shares of Charles Schwab from an “overweight” rating to a “neutral” rating and cut their price objective for the company from $80.00 to $64.00 in a report on Monday, July 29th. Finally, Morgan Stanley cut their price objective on shares of Charles Schwab from $71.00 to $70.00 and set an “equal weight” rating for the company in a report on Friday, August 16th. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $73.75.

Charles Schwab Stock Performance

Shares of SCHW stock opened at $62.12 on Thursday. The company has a market capitalization of $110.48 billion, a price-to-earnings ratio of 25.99, a PEG ratio of 1.19 and a beta of 0.97. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.42 and a current ratio of 0.42. The company has a 50-day simple moving average of $65.33 and a 200 day simple moving average of $70.00. Charles Schwab has a 52 week low of $48.66 and a 52 week high of $79.49.

Charles Schwab (NYSE:SCHW) last announced its earnings results on Tuesday, July 16th. The financial services provider reported $0.73 EPS for the quarter, topping the consensus estimate of $0.72 by $0.01. The business had revenue of $4.69 billion during the quarter, compared to the consensus estimate of $4.68 billion. Charles Schwab had a net margin of 26.30% and a return on equity of 18.14%. Charles Schwab’s revenue was up .7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.75 EPS. On average, sell-side analysts predict that Charles Schwab will post 3.05 earnings per share for the current year.

Insider Buying and Selling

In related news, President Richard A. Wurster acquired 10,000 shares of the stock in a transaction that occurred on Wednesday, July 17th. The stock was acquired at an average cost of $62.05 per share, for a total transaction of $620,500.00. Following the transaction, the president now directly owns 144,228 shares in the company, valued at $8,949,347.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Charles Schwab news, Director Carolyn Schwab-Pomerantz sold 12,320 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $65.10, for a total value of $802,032.00. Following the completion of the transaction, the director now directly owns 562,129 shares in the company, valued at approximately $36,594,597.90. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, President Richard A. Wurster purchased 10,000 shares of the firm’s stock in a transaction on Wednesday, July 17th. The stock was acquired at an average price of $62.05 per share, with a total value of $620,500.00. Following the completion of the transaction, the president now owns 144,228 shares in the company, valued at approximately $8,949,347.40. The disclosure for this purchase can be found here. Insiders sold a total of 99,636 shares of company stock worth $6,533,064 in the last three months. 6.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Charles Schwab

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. International Assets Investment Management LLC boosted its stake in shares of Charles Schwab by 5.9% in the 4th quarter. International Assets Investment Management LLC now owns 10,994 shares of the financial services provider’s stock valued at $756,000 after purchasing an additional 612 shares during the last quarter. Gryphon Financial Partners LLC bought a new stake in shares of Charles Schwab in the 4th quarter valued at $466,000. Avantax Advisory Services Inc. boosted its stake in shares of Charles Schwab by 37.8% in the 4th quarter. Avantax Advisory Services Inc. now owns 29,258 shares of the financial services provider’s stock valued at $2,013,000 after purchasing an additional 8,022 shares during the last quarter. Quotient Wealth Partners LLC bought a new stake in shares of Charles Schwab in the 4th quarter valued at $228,000. Finally, Vise Technologies Inc. bought a new stake in shares of Charles Schwab in the 4th quarter valued at $201,000. 84.38% of the stock is currently owned by institutional investors and hedge funds.

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.