Charles Schwab (NYSE:SCHW) Upgraded by Barclays to Overweight Rating

Charles Schwab (NYSE:SCHW) was upgraded by equities researchers at Barclays from an “equal weight” rating to an “overweight” rating in a report issued on Monday,Benzinga reports. The brokerage presently has a $95.00 price objective on the financial services provider’s stock, up from their previous price objective of $74.00. Barclays‘s target price would suggest a potential upside of 16.61% from the company’s previous close.

A number of other equities analysts also recently commented on SCHW. Raymond James decreased their target price on Charles Schwab from $76.00 to $73.00 in a research note on Tuesday, October 15th. JPMorgan Chase & Co. lifted their price target on Charles Schwab from $86.00 to $87.00 and gave the company an “overweight” rating in a research report on Wednesday, October 16th. JMP Securities raised their price objective on shares of Charles Schwab from $82.00 to $84.00 and gave the company a “market outperform” rating in a research report on Wednesday, October 16th. StockNews.com raised shares of Charles Schwab from a “sell” rating to a “hold” rating in a research note on Wednesday, October 16th. Finally, Citigroup dropped their price target on Charles Schwab from $75.00 to $72.00 and set a “neutral” rating on the stock in a report on Friday, September 27th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $76.88.

Charles Schwab Stock Down 0.4 %

Shares of NYSE SCHW opened at $81.47 on Monday. The firm has a market cap of $144.99 billion, a P/E ratio of 31.82, a price-to-earnings-growth ratio of 1.77 and a beta of 0.96. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.47 and a current ratio of 0.47. Charles Schwab has a 1 year low of $59.67 and a 1 year high of $83.35. The firm’s 50 day moving average price is $74.08 and its 200 day moving average price is $70.10.

Charles Schwab (NYSE:SCHW) last posted its earnings results on Tuesday, October 15th. The financial services provider reported $0.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.75 by $0.02. Charles Schwab had a net margin of 27.47% and a return on equity of 16.92%. The firm had revenue of $4.85 billion during the quarter, compared to the consensus estimate of $4.78 billion. During the same quarter in the prior year, the company earned $0.77 EPS. The company’s revenue was up 5.2% on a year-over-year basis. As a group, sell-side analysts anticipate that Charles Schwab will post 3.12 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Carolyn Schwab-Pomerantz sold 29,800 shares of the business’s stock in a transaction dated Thursday, October 17th. The shares were sold at an average price of $72.16, for a total transaction 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. The trade was a 5.13 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Chairman Charles R. Schwab sold 62,345 shares of the business’s stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $72.52, for a total value of $4,521,259.40. Following the transaction, the chairman now owns 60,619,371 shares in the company, valued at $4,396,116,784.92. This represents a 0.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 127,968 shares of company stock valued at $9,419,271. Company insiders own 6.60% of the company’s stock.

Institutional Trading of Charles Schwab

A number of institutional investors and hedge funds have recently modified their holdings of the company. Franklin Resources Inc. increased its holdings in 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 buying an additional 3,157,923 shares during the period. Darsana Capital Partners LP boosted its position in shares of Charles Schwab by 200.0% during the 2nd quarter. Darsana Capital Partners LP now owns 3,000,000 shares of the financial services provider’s stock valued at $221,070,000 after acquiring an additional 2,000,000 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its stake in Charles Schwab by 6.3% during 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 purchasing an additional 1,711,312 shares during the period. AustralianSuper Pty Ltd raised its holdings in shares of Charles Schwab by 2,617.6% in the 3rd quarter. AustralianSuper Pty Ltd now owns 1,707,771 shares of the financial services provider’s stock worth $110,681,000 after buying an additional 1,644,931 shares in the last quarter. Finally, Two Sigma Advisers LP bought a new position in shares of Charles Schwab during the 3rd quarter worth approximately $86,845,000. 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.