Barclays Upgrades Charles Schwab (NYSE:SCHW) to Overweight

Charles Schwab (NYSE:SCHW) was upgraded by analysts at Barclays from an “equal weight” rating to an “overweight” rating in a report released on Monday, Marketbeat.com reports. The firm currently has a $95.00 target price on the financial services provider’s stock, up from their previous target price of $74.00. Barclays‘s price objective indicates a potential upside of 15.36% from the company’s current price.

Several other equities research analysts have also issued reports on SCHW. JMP Securities raised their target price on shares of Charles Schwab from $82.00 to $84.00 and gave the stock a “market outperform” rating in a report on Wednesday, October 16th. Deutsche Bank Aktiengesellschaft boosted their target price on Charles Schwab from $77.00 to $80.00 and gave the company a “buy” rating in a research report on Monday, November 11th. Wells Fargo & Company upped their target price on Charles Schwab from $70.00 to $75.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 16th. Morgan Stanley raised their price target on Charles Schwab from $68.00 to $74.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 24th. Finally, Piper Sandler upped their price objective on Charles Schwab from $64.00 to $65.00 and gave the company a “neutral” rating in a research report on Wednesday, October 16th. One analyst has rated the stock with a sell rating, eight have given a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, Charles Schwab currently has a consensus rating of “Hold” and an average target price of $78.81.

Charles Schwab Stock Performance

Charles Schwab stock opened at $82.35 on Monday. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 0.59. Charles Schwab has a twelve month low of $59.67 and a twelve month high of $83.35. The company’s 50-day moving average price is $74.41 and its 200-day moving average price is $70.16. The company has a market cap of $146.56 billion, a PE ratio of 32.17, a price-to-earnings-growth ratio of 1.77 and a beta of 0.96.

Charles Schwab (NYSE:SCHW) last released its earnings results on Tuesday, October 15th. The financial services provider reported $0.77 earnings per share for the quarter, beating the consensus estimate of $0.75 by $0.02. The firm had revenue of $4.85 billion for the quarter, compared to the consensus estimate of $4.78 billion. Charles Schwab had a return on equity of 16.92% and a net margin of 27.47%. The company’s revenue for the quarter was up 5.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.77 EPS. On average, equities research analysts forecast that Charles Schwab will post 3.12 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider Jonathan S. Beatty sold 2,300 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $82.01, for a total transaction of $188,623.00. Following the completion of the transaction, the insider now owns 18,069 shares in the company, valued at $1,481,838.69. The trade was a 11.29 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Nigel J. Murtagh sold 12,739 shares of the firm’s stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $81.17, for a total transaction of $1,034,024.63. Following the completion of the sale, the insider now owns 59,092 shares of the company’s stock, valued at approximately $4,796,497.64. This trade represents a 17.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 127,968 shares of company stock worth $9,419,271 over the last 90 days. Company insiders own 6.60% of the company’s stock.

Institutional Investors Weigh In On Charles Schwab

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Capital Performance Advisors LLP purchased a new stake in shares of Charles Schwab during the third quarter valued at $25,000. Washington Trust Advisors Inc. grew its stake in Charles Schwab by 62.6% during the 3rd quarter. Washington Trust Advisors Inc. now owns 387 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 149 shares during the last quarter. American Capital Advisory LLC acquired a new position in shares of Charles Schwab in the second quarter valued at about $27,000. CGC Financial Services LLC purchased a new position in shares of Charles Schwab in the second quarter worth about $29,000. Finally, Mizuho Securities Co. Ltd. acquired a new stake in shares of Charles Schwab during the second quarter worth about $29,000. 84.38% of the stock is currently owned by hedge funds and other 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.