Charles Schwab (NYSE:SCHW) Given New $72.00 Price Target at Citigroup

Charles Schwab (NYSE:SCHW) had its price target dropped by equities researchers at Citigroup from $75.00 to $72.00 in a research note issued to investors on Friday, Benzinga reports. The firm currently has a “neutral” rating on the financial services provider’s stock. Citigroup’s price target suggests a potential upside of 11.58% from the stock’s previous close.

SCHW has been the topic of a number of other research reports. The Goldman Sachs Group reduced their price target on Charles Schwab from $71.00 to $67.00 and set a “neutral” rating on the stock in a research report on Thursday. Jefferies Financial Group upped their price objective on shares of Charles Schwab from $85.00 to $88.00 and gave the company a “buy” rating in a research note on Monday, July 8th. JMP Securities lowered their target price on shares of Charles Schwab from $85.00 to $82.00 and set a “market outperform” rating for the company in a research note on Tuesday, July 23rd. UBS Group cut their price target on shares of Charles Schwab from $91.00 to $90.00 and set a “buy” rating on the stock in a research report on Tuesday, July 9th. Finally, TD Cowen reissued a “hold” rating and issued a $71.00 price objective (down from $88.00) on shares of Charles Schwab in a research report on Wednesday, July 17th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, Charles Schwab presently has an average rating of “Hold” and an average target price of $73.31.

Charles Schwab Price Performance

Shares of SCHW traded up $0.69 during mid-day trading on Friday, reaching $64.53. The company had a trading volume of 3,287,764 shares, compared to its average volume of 8,042,029. The company has a market capitalization of $114.69 billion, a price-to-earnings ratio of 27.00, a P/E/G ratio of 1.22 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’s 50 day simple moving average is $64.06 and its 200 day simple moving average is $69.83. Charles Schwab has a 1-year low of $48.66 and a 1-year high of $79.49.

Charles Schwab (NYSE:SCHW) last issued its quarterly earnings data on Tuesday, July 16th. The financial services provider reported $0.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.72 by $0.01. The business had revenue of $4.69 billion during the quarter, compared to analyst estimates of $4.68 billion. Charles Schwab had a net margin of 26.30% and a return on equity of 18.14%. The firm’s quarterly revenue was up .7% on a year-over-year basis. During the same quarter last year, the business earned $0.75 EPS. Analysts expect that Charles Schwab will post 3.05 EPS for the current year.

Insiders Place Their Bets

In other news, Director Carolyn Schwab-Pomerantz sold 9,000 shares of Charles Schwab stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $64.05, for a total value of $576,450.00. Following the completion of the transaction, the director now directly owns 554,929 shares in the company, valued at $35,543,202.45. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, Chairman Charles R. Schwab sold 67,386 shares of the company’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $65.11, for a total value of $4,387,502.46. Following the transaction, the chairman now owns 60,619,371 shares of the company’s stock, valued at $3,946,927,245.81. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the firm’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $64.05, for a total value of $576,450.00. Following the completion of the sale, the director now directly owns 554,929 shares in the company, valued at approximately $35,543,202.45. The disclosure for this sale can be found here. Insiders have sold a total of 99,636 shares of company stock worth $6,457,104 over the last 90 days. Corporate insiders own 6.60% of the company’s stock.

Institutional Investors Weigh In On Charles Schwab

Several hedge funds have recently bought and sold shares of SCHW. Country Trust Bank bought a new stake in Charles Schwab during the second quarter worth about $26,000. American Capital Advisory LLC purchased a new stake in shares of Charles Schwab in the 2nd quarter valued at $27,000. Fortitude Family Office LLC grew its holdings in shares of Charles Schwab by 97.5% during the 2nd quarter. Fortitude Family Office LLC now owns 389 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 192 shares during the last quarter. CGC Financial Services LLC bought a new stake in Charles Schwab in the second quarter worth $29,000. Finally, Mizuho Securities Co. Ltd. bought a new stake in shares of Charles Schwab in the 2nd quarter valued at about $29,000. 84.38% of the stock is currently owned by institutional investors.

About Charles Schwab

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.