Keefe, Bruyette & Woods Increases Charles Schwab (NYSE:SCHW) Price Target to $93.00

Charles Schwab (NYSE:SCHW) had its price target upped by Keefe, Bruyette & Woods from $81.00 to $93.00 in a research report released on Friday,Benzinga reports. They currently have an outperform rating on the financial services provider’s stock.

A number of other research analysts have also recently commented on SCHW. Deutsche Bank Aktiengesellschaft upped their price target on shares of Charles Schwab from $77.00 to $80.00 and gave the stock a “buy” rating in a report on Monday, November 11th. Raymond James reduced their target price on shares of Charles Schwab from $76.00 to $73.00 in a research report on Tuesday, October 15th. Jefferies Financial Group boosted their price target on Charles Schwab from $84.00 to $94.00 and gave the company a “buy” rating in a report on Monday, December 9th. Morgan Stanley upped their target price on Charles Schwab from $68.00 to $74.00 and gave the stock an “equal weight” rating in a report on Thursday, October 24th. Finally, JPMorgan Chase & Co. raised their price target on Charles Schwab from $86.00 to $87.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $80.50.

Charles Schwab Price Performance

Charles Schwab stock opened at $74.31 on Friday. Charles Schwab has a 12-month low of $59.67 and a 12-month high of $83.35. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 0.59. The firm has a 50-day moving average price of $76.77 and a 200-day moving average price of $70.57. The firm has a market capitalization of $132.25 billion, a PE ratio of 29.03, a price-to-earnings-growth ratio of 1.76 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 EPS for the quarter, beating analysts’ consensus estimates of $0.75 by $0.02. Charles Schwab had a return on equity of 16.92% and a net margin of 27.47%. The firm had revenue of $4.85 billion for the quarter, compared to analysts’ expectations of $4.78 billion. During the same quarter in the prior year, the firm posted $0.77 earnings per share. The company’s quarterly revenue was up 5.2% on a year-over-year basis. As a group, equities research analysts forecast that Charles Schwab will post 3.12 EPS for the current year.

Charles Schwab Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Friday, November 8th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.35%. The ex-dividend date was Friday, November 8th. Charles Schwab’s dividend payout ratio (DPR) is presently 39.06%.

Insider Transactions at Charles Schwab

In related news, Director Carolyn Schwab-Pomerantz sold 29,800 shares of the stock in a transaction that occurred on Thursday, October 17th. The shares were sold at an average price of $72.16, for a total value of $2,150,368.00. Following the transaction, the director now owns 551,329 shares in the company, valued at approximately $39,783,900.64. This represents a 5.13 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Charles R. Schwab sold 62,345 shares of Charles Schwab stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $72.52, for a total transaction of $4,521,259.40. Following the sale, the chairman now owns 60,619,371 shares of the company’s stock, valued at approximately $4,396,116,784.92. The trade was a 0.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, 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

Institutional investors have recently modified their holdings of the stock. Franklin Resources Inc. lifted its stake in shares of Charles Schwab by 15.0% in the 3rd quarter. Franklin Resources Inc. now owns 24,261,234 shares of the financial services provider’s stock valued at $1,644,674,000 after purchasing an additional 3,157,923 shares during the period. Darsana Capital Partners LP increased its holdings in Charles Schwab by 200.0% in the second quarter. Darsana Capital Partners LP now owns 3,000,000 shares of the financial services provider’s stock valued at $221,070,000 after buying an additional 2,000,000 shares in the last quarter. Massachusetts Financial Services Co. MA raised its position in shares of Charles Schwab by 6.3% in the third quarter. Massachusetts Financial Services Co. MA now owns 28,679,305 shares of the financial services provider’s stock worth $1,858,706,000 after acquiring an additional 1,711,312 shares during the period. AustralianSuper Pty Ltd boosted its stake in shares of Charles Schwab by 2,617.6% during the 3rd quarter. AustralianSuper Pty Ltd now owns 1,707,771 shares of the financial services provider’s stock worth $110,681,000 after acquiring an additional 1,644,931 shares in the last quarter. Finally, Two Sigma Advisers LP acquired a new stake in shares of Charles Schwab during the 3rd quarter valued at about $86,845,000. Hedge funds and other institutional investors own 84.38% of the company’s stock.

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.