Charles Schwab (NYSE:SCHW) Price Target Raised to $70.00

Charles Schwab (NYSE:SCHW) had its price target upped by Piper Sandler from $65.00 to $70.00 in a research report report published on Tuesday morning,Benzinga reports. They currently have a neutral rating on the financial services provider’s stock.

SCHW has been the topic of a number of other research reports. Morgan Stanley boosted their target price on Charles Schwab from $68.00 to $74.00 and gave the company an “equal weight” rating in a research note on Thursday, October 24th. Bank of America dropped their price objective on Charles Schwab from $63.00 to $61.00 and set an “underperform” rating on the stock in a report on Wednesday, October 16th. Barclays upgraded shares of Charles Schwab from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $74.00 to $95.00 in a research note on Monday, December 9th. Cowen increased their price target on shares of Charles Schwab from $69.00 to $75.00 and gave the stock a “hold” rating in a research note on Tuesday, October 15th. Finally, Jefferies Financial Group lifted their price objective on shares of Charles Schwab from $84.00 to $94.00 and gave the company a “buy” rating in a research note on Monday, December 9th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Charles Schwab presently has a consensus rating of “Moderate Buy” and a consensus price target of $81.19.

Charles Schwab Stock Performance

SCHW stock opened at $72.93 on Tuesday. The firm has a 50 day simple moving average of $77.53 and a 200 day simple moving average of $70.65. Charles Schwab has a 52 week low of $59.67 and a 52 week high of $83.35. The stock has a market cap of $129.79 billion, a P/E ratio of 28.49, a P/E/G ratio of 1.76 and a beta of 0.99. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.47 and a current ratio of 0.47.

Charles Schwab (NYSE:SCHW) last issued its earnings results on Tuesday, October 15th. The financial services provider reported $0.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.75 by $0.02. Charles Schwab had a net margin of 27.47% and a return on equity of 16.92%. The company had revenue of $4.85 billion during the quarter, compared to analyst estimates of $4.78 billion. During the same quarter last year, the business posted $0.77 EPS. The company’s revenue for the quarter was up 5.2% on a year-over-year basis. Research analysts anticipate that Charles Schwab will post 3.12 earnings per share for the current fiscal year.

Charles Schwab Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Friday, November 8th were given a $0.25 dividend. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.00 annualized dividend and a dividend yield of 1.37%. Charles Schwab’s dividend payout ratio is 39.06%.

Insider Transactions at Charles Schwab

In related news, Director Carolyn Schwab-Pomerantz sold 29,800 shares of the company’s stock in a transaction on Thursday, October 17th. The stock was sold at an average price of $72.16, for a total value of $2,150,368.00. Following the completion of the transaction, the director now directly owns 551,329 shares in the company, valued at approximately $39,783,900.64. This represents a 5.13 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Jonathan S. Beatty sold 2,300 shares of Charles Schwab stock in a transaction on Monday, November 25th. The stock was sold at an average price of $82.01, for a total transaction of $188,623.00. Following the sale, the insider now owns 18,069 shares in the company, valued at $1,481,838.69. This represents a 11.29 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 118,968 shares of company stock worth $8,842,821. Insiders own 6.60% of the company’s stock.

Hedge Funds Weigh In On Charles Schwab

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Capital Performance Advisors LLP acquired a new position in Charles Schwab in the third quarter worth about $25,000. Washington Trust Advisors Inc. raised its holdings in shares of Charles Schwab by 62.6% in the 3rd quarter. Washington Trust Advisors Inc. now owns 387 shares of the financial services provider’s stock worth $25,000 after buying an additional 149 shares in the last quarter. Prospera Private Wealth LLC bought a new position in shares of Charles Schwab during the 3rd quarter worth approximately $31,000. Future Financial Wealth Managment LLC acquired a new stake in Charles Schwab in the 3rd quarter valued at $32,000. Finally, Planning Capital Management Corp bought a new stake in Charles Schwab in the third quarter valued at $33,000. 84.38% of the stock is 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.