Piper Sandler Increases Charles Schwab (NYSE:SCHW) Price Target to $70.00

Charles Schwab (NYSE:SCHW) had its price target increased by Piper Sandler from $65.00 to $70.00 in a research note released on Tuesday,Benzinga reports. The brokerage currently has a neutral rating on the financial services provider’s stock.

Several other equities analysts have also recently weighed in on the company. JPMorgan Chase & Co. lifted their price objective on Charles Schwab from $86.00 to $87.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. Deutsche Bank Aktiengesellschaft upped their price target on shares of Charles Schwab from $77.00 to $80.00 and gave the company a “buy” rating in a report on Monday, November 11th. Bank of America dropped their price objective on shares of Charles Schwab from $63.00 to $61.00 and set an “underperform” rating on the stock in a 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, The Goldman Sachs Group lifted their price target on Charles Schwab from $67.00 to $74.00 and gave the company a “neutral” rating in a research note on Wednesday, October 16th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, Charles Schwab presently has a consensus rating of “Hold” and a consensus price target of $81.19.

Charles Schwab Stock Down 3.1 %

Shares of NYSE SCHW opened at $72.15 on Tuesday. Charles Schwab has a 52-week low of $59.67 and a 52-week high of $83.35. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.47 and a current ratio of 0.47. The stock has a market cap of $128.40 billion, a P/E ratio of 28.18, a P/E/G ratio of 1.76 and a beta of 0.99. The firm has a 50 day moving average price of $77.45 and a 200 day moving average price of $70.62.

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

Charles Schwab Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Friday, November 8th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.00 dividend on an annualized basis and a yield of 1.39%. Charles Schwab’s payout ratio is 39.06%.

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 that occurred on Friday, November 22nd. The stock was sold at an average price of $81.17, for a total value of $1,034,024.63. Following the sale, the insider now owns 59,092 shares in the company, valued at $4,796,497.64. This represents a 17.73 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Chairman Charles R. Schwab sold 62,345 shares of Charles Schwab stock in a transaction that occurred on Wednesday, October 16th. The stock was 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 of the company’s stock, 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. Over the last three months, insiders have sold 118,968 shares of company stock valued at $8,842,821. 6.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Charles Schwab

Several large investors have recently modified their holdings of SCHW. Franklin Resources Inc. grew its stake 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 last quarter. Darsana Capital Partners LP grew its position in shares of Charles Schwab by 200.0% in the second quarter. Darsana Capital Partners LP now owns 3,000,000 shares of the financial services provider’s stock valued at $221,070,000 after purchasing an additional 2,000,000 shares during the last quarter. Massachusetts Financial Services Co. MA increased its stake in shares of 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 lifted its holdings in Charles Schwab by 2,617.6% during the 3rd quarter. AustralianSuper Pty Ltd now owns 1,707,771 shares of the financial services provider’s stock worth $110,681,000 after purchasing an additional 1,644,931 shares during the last quarter. Finally, Two Sigma Advisers LP bought a new stake in Charles Schwab in the 3rd quarter valued at $86,845,000. 84.38% of the stock is 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.