Charles Schwab (NYSE:SCHW) Price Target Raised to $91.00

Charles Schwab (NYSE:SCHW) had its price objective increased by Truist Financial from $90.00 to $91.00 in a report released on Tuesday,Benzinga reports. Truist Financial currently has a buy rating on the financial services provider’s stock.

Several other analysts have also weighed in on the company. Raymond James decreased their price objective on Charles Schwab from $76.00 to $73.00 in a report on Tuesday, October 15th. Bank of America dropped their target price on Charles Schwab from $63.00 to $61.00 and set an “underperform” rating for the company in a report on Wednesday, October 16th. The Goldman Sachs Group raised their target price on Charles Schwab from $67.00 to $74.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 16th. Cowen upped their price target on Charles Schwab from $69.00 to $75.00 and gave the company a “hold” rating in a research report on Tuesday, October 15th. Finally, JMP Securities reissued a “market outperform” rating and set a $94.00 price objective (up from $84.00) on shares of Charles Schwab in a report on Monday, December 9th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, Charles Schwab has an average rating of “Hold” and an average price target of $84.56.

Charles Schwab Trading Down 0.8 %

Shares of SCHW stock opened at $81.64 on Tuesday. The company has a market cap of $145.29 billion, a PE ratio of 27.30, a price-to-earnings-growth ratio of 1.02 and a beta of 0.99. Charles Schwab has a 12 month low of $61.01 and a 12 month high of $84.50. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 0.59. The business’s 50 day moving average is $78.06 and its two-hundred day moving average is $72.18.

Charles Schwab (NYSE:SCHW) last issued its quarterly earnings results on Tuesday, January 21st. The financial services provider reported $1.01 earnings per share for the quarter, beating analysts’ consensus estimates of $0.90 by $0.11. Charles Schwab had a net margin of 30.31% and a return on equity of 18.20%. The firm had revenue of $5.33 billion during the quarter, compared to the consensus estimate of $5.19 billion. During the same period in the prior year, the firm earned $0.68 EPS. The business’s revenue was up 19.5% on a year-over-year basis. Equities analysts predict that Charles Schwab will post 4.18 EPS for the current year.

Charles Schwab Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Friday, February 14th will be issued a dividend of $0.27 per share. This is an increase from Charles Schwab’s previous quarterly dividend of $0.25. The ex-dividend date is Friday, February 14th. This represents a $1.08 annualized dividend and a yield of 1.32%. Charles Schwab’s dividend payout ratio is currently 33.44%.

Insiders Place Their Bets

In other Charles Schwab news, insider Nigel J. Murtagh sold 12,739 shares of the company’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $81.17, for a total transaction of $1,034,024.63. Following the transaction, the insider now owns 59,092 shares of the company’s stock, valued at approximately $4,796,497.64. This represents a 17.73 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Christopher V. Dodds sold 9,284 shares of the stock in a transaction on Monday, November 18th. The shares were sold at an average price of $81.43, for a total value of $755,996.12. Following the completion of the transaction, the director now directly owns 442,807 shares in the company, valued at approximately $36,057,774.01. This trade represents a 2.05 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 47,514 shares of company stock valued at $3,859,731. 6.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Charles Schwab

Several institutional investors have recently modified their holdings of the stock. Merit Financial Group LLC increased its stake in shares of Charles Schwab by 230.1% in the 4th quarter. Merit Financial Group LLC now owns 33,546 shares of the financial services provider’s stock valued at $2,483,000 after acquiring an additional 23,383 shares during the last quarter. Benjamin Edwards Inc. increased its stake in shares of Charles Schwab by 2,840.7% in the 3rd quarter. Benjamin Edwards Inc. now owns 6,146 shares of the financial services provider’s stock valued at $398,000 after acquiring an additional 5,937 shares during the last quarter. Synovus Financial Corp increased its stake in shares of Charles Schwab by 46.0% in the 3rd quarter. Synovus Financial Corp now owns 67,889 shares of the financial services provider’s stock valued at $4,400,000 after acquiring an additional 21,377 shares during the last quarter. Oregon Pacific Wealth Management LLC bought a new stake in shares of Charles Schwab in the 4th quarter valued at about $688,000. Finally, Golden State Equity Partners increased its stake in shares of Charles Schwab by 293.9% in the 4th quarter. Golden State Equity Partners now owns 12,207 shares of the financial services provider’s stock valued at $903,000 after acquiring an additional 9,108 shares during the last quarter. 84.38% of the stock is currently owned by institutional investors and hedge funds.

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.