Charles Schwab (NYSE:SCHW) Price Target Raised to $81.00

Charles Schwab (NYSE:SCHW) had its target price upped by Keefe, Bruyette & Woods from $76.00 to $81.00 in a research note published on Wednesday, Benzinga reports. The brokerage currently has an outperform rating on the financial services provider’s stock.

Several other research firms also recently weighed in on SCHW. Deutsche Bank Aktiengesellschaft dropped their price objective on Charles Schwab from $77.00 to $76.00 in a research note on Tuesday. Jefferies Financial Group dropped their price objective on Charles Schwab from $79.00 to $73.00 and set a “buy” rating for the company in a research note on Friday, October 4th. Barclays dropped their price target on 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. Citigroup dropped their price target on Charles Schwab from $75.00 to $72.00 and set a “neutral” rating for the company in a research report on Friday, September 27th. Finally, Cowen raised their price target on Charles Schwab from $69.00 to $75.00 and gave the stock a “hold” rating in a research report on Tuesday. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $73.59.

Charles Schwab Stock Down 0.8 %

SCHW opened at $71.34 on Wednesday. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 0.65. The business has a 50 day moving average price of $64.97 and a two-hundred day moving average price of $69.52. Charles Schwab has a 52 week low of $48.66 and a 52 week high of $79.49. The company has a market cap of $126.87 billion, a PE ratio of 29.60, a P/E/G ratio of 1.47 and a beta of 0.97.

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

Charles Schwab Dividend Announcement

The business also recently announced 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 dividend yield of 1.40%. The ex-dividend date was Friday, August 9th. Charles Schwab’s payout ratio is presently 41.49%.

Insider Activity at Charles Schwab

In related news, Director Carolyn Schwab-Pomerantz sold 29,800 shares of the stock in a transaction dated 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 completion of the transaction, the director now owns 551,329 shares of the company’s stock, valued at $39,783,900.64. 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. In related news, Director Carolyn Schwab-Pomerantz sold 29,800 shares of the stock in a transaction dated 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 completion of the transaction, the director now owns 551,329 shares of the company’s stock, valued at $39,783,900.64. 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 the stock in a transaction dated Thursday, August 1st. The stock was 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 of the company’s stock, valued at $4,035,032.40. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 182,001 shares of company stock worth $12,512,592. Company insiders own 6.60% of the company’s stock.

Institutional Trading of Charles Schwab

Several hedge funds have recently modified their holdings of SCHW. Price T Rowe Associates Inc. MD increased its holdings in shares of 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 buying an additional 2,946,327 shares in the last quarter. Darsana Capital Partners LP increased its holdings in shares of Charles Schwab by 200.0% during the second quarter. Darsana Capital Partners LP now owns 3,000,000 shares of the financial services provider’s stock worth $221,070,000 after buying an additional 2,000,000 shares in the last quarter. Mondrian Investment Partners LTD increased its holdings in shares of Charles Schwab by 28,736.1% during the first quarter. Mondrian Investment Partners LTD now owns 1,485,637 shares of the financial services provider’s stock worth $107,471,000 after buying an additional 1,480,485 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of Charles Schwab during the first quarter worth approximately $105,563,000. Finally, Westwood Holdings Group Inc. boosted its position in Charles Schwab by 231.2% in the 1st quarter. Westwood Holdings Group Inc. now owns 1,498,929 shares of the financial services provider’s stock valued at $108,433,000 after buying an additional 1,046,322 shares during the last quarter. Institutional investors and hedge funds own 84.38% of the company’s stock.

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.