Charles Schwab (NYSE:SCHW) Price Target Lowered to $61.00 at Bank of America

Charles Schwab (NYSE:SCHW) had its target price cut by Bank of America from $63.00 to $61.00 in a report published on Wednesday morning, Benzinga reports. They currently have an underperform rating on the financial services provider’s stock.

Several other equities analysts have also recently issued reports on the company. Morgan Stanley decreased their price target on Charles Schwab from $70.00 to $68.00 and set an “equal weight” rating on the stock in a report on Monday, October 7th. Barclays dropped their target price on shares of Charles Schwab from $77.00 to $68.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 17th. Keefe, Bruyette & Woods raised their target price on Charles Schwab from $76.00 to $81.00 and gave the stock an “outperform” rating in a report on Wednesday. TD Cowen reaffirmed a “hold” rating and issued a $71.00 price target (down from $88.00) on shares of Charles Schwab in a research note on Wednesday, July 17th. Finally, Wells Fargo & Company upped their target price on shares of Charles Schwab from $70.00 to $75.00 and gave the company an “equal weight” rating in a research note on Wednesday. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $73.59.

Charles Schwab Stock Performance

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

Charles Schwab (NYSE:SCHW) last posted its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $0.77 earnings per share 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 quarter last year, the company posted $0.77 EPS. The company’s quarterly revenue was up 5.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that Charles Schwab will post 3.06 EPS for the current fiscal year.

Charles Schwab Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Friday, August 9th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.39%. The ex-dividend date of this dividend was Friday, August 9th. Charles Schwab’s dividend payout ratio (DPR) is presently 41.84%.

Insider Buying and Selling at Charles Schwab

In related news, insider Paul V. Woolway sold 1,150 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $65.20, for a total transaction of $74,980.00. Following the completion of 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $64.05, for a total value of $576,450.00. Following the completion of the sale, the director now directly owns 554,929 shares in the company, valued at $35,543,202.45. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Paul V. Woolway sold 1,150 shares of Charles Schwab stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $65.20, for a total value of $74,980.00. Following the transaction, the insider now directly owns 61,887 shares in the company, valued at $4,035,032.40. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 98,856 shares of company stock worth $6,398,604 over the last 90 days. Insiders own 6.60% of the company’s stock.

Institutional Trading of Charles Schwab

Several institutional investors have recently added to or reduced their stakes in SCHW. Vanguard Group Inc. raised its stake in Charles Schwab by 0.9% during the first quarter. Vanguard Group Inc. now owns 120,963,133 shares of the financial services provider’s stock worth $8,750,473,000 after buying an additional 1,042,823 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in Charles Schwab by 4.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 72,306,560 shares of the financial services provider’s stock worth $5,230,657,000 after purchasing an additional 2,946,327 shares during the period. Legal & General Group Plc increased its holdings in Charles Schwab by 2.1% in the second quarter. Legal & General Group Plc now owns 10,886,058 shares of the financial services provider’s stock worth $802,193,000 after purchasing an additional 225,397 shares in the last quarter. Allen Investment Management LLC lifted its stake in Charles Schwab by 3.0% in the second quarter. Allen Investment Management LLC now owns 8,712,364 shares of the financial services provider’s stock valued at $642,014,000 after buying an additional 251,485 shares during the period. Finally, Lazard Asset Management LLC boosted its holdings in shares of Charles Schwab by 8.9% during the 1st quarter. Lazard Asset Management LLC now owns 7,305,050 shares of the financial services provider’s stock worth $528,445,000 after buying an additional 596,589 shares in the last quarter. 84.38% of the stock is currently 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.