Charles Schwab (NYSE:SCHW) PT Raised to $75.00 at Cowen

Charles Schwab (NYSE:SCHW) had its price target boosted by equities researchers at Cowen from $69.00 to $75.00 in a research report issued to clients and investors on Tuesday. The firm presently has a “hold” rating on the financial services provider’s stock. Cowen’s price objective suggests a potential upside of 4.05% from the company’s previous close.

SCHW has been the topic of a number of other research reports. Deutsche Bank Aktiengesellschaft upped their price target on Charles Schwab from $79.00 to $80.00 and gave the company a “buy” rating in a research report on Thursday, August 15th. Wells Fargo & Company initiated coverage on shares of Charles Schwab in a report on Thursday, September 12th. They set an “equal weight” rating and a $70.00 price target for the company. JPMorgan Chase & Co. reduced their price objective on shares of Charles Schwab from $82.00 to $78.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 17th. Piper Sandler downgraded shares of Charles Schwab from an “overweight” rating to a “neutral” rating and lowered their target price for the stock from $80.00 to $64.00 in a research note on Monday, July 29th. Finally, JMP Securities cut their price target on shares of Charles Schwab from $85.00 to $82.00 and set a “market outperform” rating on the stock in a research report on Tuesday, July 23rd. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $73.59.

Charles Schwab Stock Performance

Charles Schwab stock opened at $72.08 on Tuesday. The business has a 50 day moving average of $64.61 and a 200-day moving average of $69.51. The company has a market capitalization of $128.11 billion, a P/E ratio of 30.16, a P/E/G ratio of 1.43 and a beta of 0.97. Charles Schwab has a 1 year low of $48.66 and a 1 year high of $79.49. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.42 and a quick ratio of 0.42.

Charles Schwab (NYSE:SCHW) last announced its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $0.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.75 by $0.02. Charles Schwab had a net margin of 26.30% and a return on equity of 18.14%. The firm had revenue of $4.85 billion during the quarter, compared to analysts’ expectations of $4.78 billion. During the same period in the prior year, the company posted $0.77 EPS. The company’s revenue was up 5.2% on a year-over-year basis. On average, equities research analysts predict that Charles Schwab will post 3.06 earnings per share for the current year.

Insider Activity

In related news, Chairman Charles R. Schwab sold 67,386 shares of the firm’s stock in a transaction dated 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 approximately $3,946,927,245.81. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Chairman Charles R. Schwab sold 67,386 shares of the stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $65.11, for a total value of $4,387,502.46. Following the completion of the sale, the chairman now directly owns 60,619,371 shares of the company’s stock, valued at approximately $3,946,927,245.81. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Paul V. Woolway sold 1,150 shares of Charles Schwab stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $65.20, for a total transaction of $74,980.00. Following the transaction, the insider now directly owns 61,887 shares in the company, valued at $4,035,032.40. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 98,856 shares of company stock worth $6,398,604 over the last three months. 6.60% of the stock is currently owned by insiders.

Institutional Trading of Charles Schwab

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