Charles Schwab (NYSE:SCHW) Price Target Raised to $120.00

by · The Cerbat Gem

Charles Schwab (NYSE:SCHW – Free Report) had its target price hoisted by Citizens Jmp from $110.00 to $120.00 in a research note released on Monday morning,Benzinga reports. The firm currently has a market outperform rating on the financial services provider’s stock.

A number of other analysts have also commented on the company. Zacks Research lowered Charles Schwab from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, September 17th. BMO Capital Markets started coverage on Charles Schwab in a report on Friday, October 3rd. They set an “outperform” rating and a $110.00 price objective for the company. Wolfe Research reiterated an “outperform” rating and issued a $122.00 target price on shares of Charles Schwab in a report on Wednesday, January 7th. Weiss Ratings reissued a “hold (c+)” rating on shares of Charles Schwab in a research report on Wednesday, October 8th. Finally, Piper Sandler restated a “neutral” rating on shares of Charles Schwab in a report on Tuesday, October 14th. One research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $112.24.

Check Out Our Latest Stock Analysis on Charles Schwab

Charles Schwab Stock Performance

NYSE:SCHW opened at $101.88 on Monday. The firm has a market capitalization of $181.03 billion, a P/E ratio of 23.86, a P/E/G ratio of 0.70 and a beta of 0.94. Charles Schwab has a twelve month low of $65.88 and a twelve month high of $104.76. The company has a fifty day moving average of $96.81 and a 200-day moving average of $95.35. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 0.47.

Charles Schwab (NYSE:SCHW – Get Free Report) last posted its quarterly earnings results on Thursday, October 16th. The financial services provider reported $1.31 earnings per share for the quarter, beating the consensus estimate of $1.25 by $0.06. Charles Schwab had a net margin of 35.93% and a return on equity of 21.02%. The firm had revenue of $6.38 billion during the quarter, compared to the consensus estimate of $5.93 billion. During the same period in the previous year, the firm posted $0.71 earnings per share. The business’s revenue was up 26.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that Charles Schwab will post 4.22 EPS for the current year.

Charles Schwab Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 28th. Investors of record on Friday, November 14th were given a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend was Friday, November 14th. Charles Schwab’s dividend payout ratio (DPR) is presently 25.29%.

Insider Buying and Selling at Charles Schwab

In other news, insider Jonathan S. Beatty sold 3,072 shares of the business’s stock in a transaction that occurred on Wednesday, November 12th. The stock was sold at an average price of $98.00, for a total value of $301,056.00. Following the transaction, the insider owned 11,923 shares in the company, valued at $1,168,454. The trade was a 20.49% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 6.30% of the stock is owned by insiders.

Institutional Trading of Charles Schwab

Several hedge funds have recently made changes to their positions in SCHW. Norges Bank bought a new stake in shares of Charles Schwab in the 2nd quarter valued at about $1,889,858,000. Brown Advisory Inc. lifted its position in Charles Schwab by 88.4% in the second quarter. Brown Advisory Inc. now owns 12,162,260 shares of the financial services provider’s stock valued at $1,109,687,000 after purchasing an additional 5,708,208 shares during the last quarter. Primecap Management Co. CA lifted its position in Charles Schwab by 35.9% in the second quarter. Primecap Management Co. CA now owns 19,034,806 shares of the financial services provider’s stock valued at $1,736,736,000 after purchasing an additional 5,032,728 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Charles Schwab by 28.3% during the second quarter. Bank of New York Mellon Corp now owns 14,182,132 shares of the financial services provider’s stock valued at $1,293,978,000 after purchasing an additional 3,125,179 shares during the period. Finally, Vanguard Group Inc. grew its holdings in shares of Charles Schwab by 1.9% in the second quarter. Vanguard Group Inc. now owns 151,182,081 shares of the financial services provider’s stock worth $13,793,853,000 after purchasing an additional 2,786,829 shares during the last quarter. 84.38% of the stock is currently owned by institutional investors.

About Charles Schwab

(Get Free Report)

Charles Schwab Corporation (NYSE: SCHW) is a diversified financial services firm that provides brokerage, banking, wealth management and advisory services to individual investors, independent investment advisors and institutional clients. Its primary offerings include retail brokerage accounts, online trading platforms, Schwab-branded mutual funds and exchange-traded funds (ETFs), retirement plan services, custodial services for independent Registered Investment Advisors (RIAs), and banking products through Charles Schwab Bank.

Featured Stories