Charles Schwab (NYSE:SCHW) Price Target Cut to $73.00 by Analysts at Jefferies Financial Group

Charles Schwab (NYSE:SCHW) had its price target reduced by stock analysts at Jefferies Financial Group from $79.00 to $73.00 in a research note issued on Friday, Benzinga reports. The firm presently has a “buy” rating on the financial services provider’s stock. Jefferies Financial Group’s price objective points to a potential upside of 12.71% from the stock’s previous close.

Other research analysts also recently issued reports about the stock. Piper Sandler downgraded shares of Charles Schwab from an “overweight” rating to a “neutral” rating and cut their price objective for the stock from $80.00 to $64.00 in a report on Monday, July 29th. The Goldman Sachs Group dropped their price objective on Charles Schwab from $71.00 to $67.00 and set a “neutral” rating on the stock in a report on Thursday, September 26th. TD Cowen reissued a “hold” rating and issued a $71.00 price target (down from $88.00) on shares of Charles Schwab in a report on Wednesday, July 17th. UBS Group lowered their target price on shares of Charles Schwab from $91.00 to $90.00 and set a “buy” rating on the stock in a research note on Tuesday, July 9th. Finally, Morgan Stanley reduced their price target on shares of Charles Schwab from $71.00 to $70.00 and set an “equal weight” rating for the company in a research report on Friday, August 16th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $72.38.

Charles Schwab Stock Performance

NYSE SCHW traded up $1.37 on Friday, hitting $64.77. 3,372,196 shares of the stock traded hands, compared to its average volume of 7,998,323. The firm has a market capitalization of $115.19 billion, a price-to-earnings ratio of 27.15, a PEG ratio of 1.32 and a beta of 0.97. The business’s fifty day moving average is $64.01 and its two-hundred day moving average is $69.73. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.42 and a current ratio of 0.42. Charles Schwab has a 12 month low of $48.66 and a 12 month high of $79.49.

Charles Schwab (NYSE:SCHW) last announced 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 for the quarter, compared to analysts’ expectations of $4.68 billion. Charles Schwab had a return on equity of 18.14% and a net margin of 26.30%. The firm’s quarterly revenue was up .7% compared to the same quarter last year. During the same period in the previous year, the business posted $0.75 EPS. As a group, equities analysts anticipate that Charles Schwab will post 3.05 EPS for the current fiscal year.

Insider Activity at Charles Schwab

In related news, insider Jonathan S. Beatty sold 780 shares of Charles Schwab stock in a transaction on Thursday, July 11th. The shares were sold at an average price of $75.00, for a total value of $58,500.00. Following the transaction, the insider now directly owns 18,069 shares of the company’s stock, valued at $1,355,175. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Charles Schwab news, insider Jonathan S. Beatty sold 780 shares of the company’s stock in a transaction that occurred on Thursday, July 11th. The stock was sold at an average price of $75.00, for a total transaction of $58,500.00. Following the completion of the transaction, the insider now owns 18,069 shares of the company’s stock, valued at $1,355,175. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Walter W. Bettinger acquired 25,000 shares of the business’s stock in a transaction dated Wednesday, July 17th. The stock was acquired at an average price of $66.26 per share, for a total transaction of $1,656,500.00. Following the completion of the transaction, the chief executive officer now owns 827,377 shares in the company, valued at approximately $54,822,000.02. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders sold 99,636 shares of company stock worth $6,457,104 in the last ninety days. 6.60% of the stock is owned by company insiders.

Institutional Trading of Charles Schwab

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

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.