Charles Schwab (NYSE:SCHW) PT Lowered to $79.00 at Deutsche Bank Aktiengesellschaft

Charles Schwab (NYSE:SCHW) had its price objective decreased by Deutsche Bank Aktiengesellschaft from $84.00 to $79.00 in a research note released on Wednesday, Benzinga reports. Deutsche Bank Aktiengesellschaft currently has a buy rating on the financial services provider’s stock.

Other equities analysts have also recently issued research reports about the company. JMP Securities reiterated a market outperform rating and issued a $80.00 price target on shares of Charles Schwab in a report on Tuesday, May 28th. StockNews.com cut Charles Schwab from a hold rating to a sell rating in a report on Friday, May 24th. UBS Group reduced their target price on Charles Schwab from $91.00 to $90.00 and set a buy rating on the stock in a report on Tuesday, July 9th. Bank of America reduced their target price on Charles Schwab from $72.00 to $66.00 and set an underperform rating on the stock in a report on Wednesday. Finally, JPMorgan Chase & Co. reduced their target price on Charles Schwab from $89.00 to $81.00 and set an overweight rating on the stock in a report on Friday, May 31st. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, Charles Schwab currently has an average rating of Hold and an average target price of $75.07.

Charles Schwab Price Performance

Charles Schwab stock opened at $62.08 on Wednesday. The business’s 50-day simple moving average is $73.30 and its 200 day simple moving average is $70.08. The stock has a market cap of $110.33 billion, a price-to-earnings ratio of 25.98, a P/E/G ratio of 1.05 and a beta of 0.99. Charles Schwab has a 12-month low of $48.66 and a 12-month high of $79.49. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 0.69.

Charles Schwab (NYSE:SCHW) last posted its quarterly earnings results on Tuesday, July 16th. The financial services provider reported $0.73 earnings per share (EPS) for the quarter, beating the consensus estimate 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 18.65% 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 quarter last year, the business earned $0.75 earnings per share. As a group, research analysts anticipate that Charles Schwab will post 3.11 earnings per share for the current year.

Charles Schwab Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 24th. Stockholders of record on Friday, May 10th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, May 9th. This represents a $1.00 annualized dividend and a dividend yield of 1.61%. Charles Schwab’s dividend payout ratio is currently 41.84%.

Insider Transactions at Charles Schwab

In other Charles Schwab news, President Richard A. Wurster bought 10,000 shares of Charles Schwab stock in a transaction dated Wednesday, July 17th. The stock was bought at an average cost of $62.05 per share, for a total transaction of $620,500.00. Following the purchase, the president now owns 144,228 shares of the company’s stock, valued at approximately $8,949,347.40. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Charles Schwab news, President Richard A. Wurster bought 10,000 shares of Charles Schwab stock in a transaction dated Wednesday, July 17th. The stock was bought at an average cost of $62.05 per share, for a total transaction of $620,500.00. Following the purchase, the president now owns 144,228 shares of the company’s stock, valued at approximately $8,949,347.40. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Charles R. Schwab sold 89,275 shares of the business’s stock in a transaction on Monday, April 22nd. The shares were sold at an average price of $74.62, for a total value of $6,661,700.50. Following the completion of the sale, the chairman now owns 30,641,981 shares of the company’s stock, valued at $2,286,504,622.22. The disclosure for this sale can be found here. In the last three months, insiders sold 555,745 shares of company stock worth $41,625,143. 6.60% of the stock is owned by company insiders.

Institutional Trading of Charles Schwab

Institutional investors have recently added to or reduced their stakes in the company. Investment Research & Advisory Group Inc. boosted its stake in Charles Schwab by 1.0% in the 4th quarter. Investment Research & Advisory Group Inc. now owns 58,979 shares of the financial services provider’s stock valued at $4,058,000 after purchasing an additional 607 shares during the period. Morningstar Investment Services LLC raised its holdings in Charles Schwab by 98.0% in the 4th quarter. Morningstar Investment Services LLC now owns 4,691,362 shares of the financial services provider’s stock valued at $326,284,000 after acquiring an additional 2,322,156 shares in the last quarter. Brown Advisory Inc. raised its holdings in Charles Schwab by 24.3% in the 4th quarter. Brown Advisory Inc. now owns 4,393,223 shares of the financial services provider’s stock valued at $302,254,000 after acquiring an additional 857,734 shares in the last quarter. Allspring Global Investments Holdings LLC raised its holdings in Charles Schwab by 22.2% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 883,379 shares of the financial services provider’s stock valued at $60,776,000 after acquiring an additional 160,719 shares in the last quarter. Finally, Retirement Systems of Alabama raised its holdings in Charles Schwab by 13.0% in the 4th quarter. Retirement Systems of Alabama now owns 1,329,388 shares of the financial services provider’s stock valued at $91,462,000 after acquiring an additional 152,967 shares in the last quarter. 84.38% of the stock is currently owned by 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.