Credit Suisse Group reiterated their buy rating on shares of Charles Schwab (NYSE:SCHW) in a research report report published on Friday morning. Credit Suisse Group currently has a $64.00 target price on the financial services provider’s stock.
Other equities research analysts have also recently issued reports about the company. Citigroup reiterated a buy rating and issued a $60.00 price objective (up from $52.00) on shares of Charles Schwab in a report on Tuesday, January 9th. JMP Securities cut Charles Schwab from an outperform rating to a market perform rating in a report on Wednesday, January 3rd. BidaskClub upgraded Charles Schwab from a hold rating to a buy rating in a report on Tuesday, September 26th. Keefe, Bruyette & Woods reiterated a buy rating and issued a $47.00 price objective on shares of Charles Schwab in a report on Friday, September 15th. Finally, Jefferies Group reiterated a buy rating and issued a $49.00 price objective on shares of Charles Schwab in a report on Friday, September 15th. Six analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of Buy and an average price target of $51.81.
Shares of Charles Schwab (SCHW) opened at $55.39 on Friday. The company has a quick ratio of 0.30, a current ratio of 0.31 and a debt-to-equity ratio of 0.21. Charles Schwab has a twelve month low of $37.16 and a twelve month high of $55.52. The stock has a market capitalization of $74,170.00, a PE ratio of 35.51, a P/E/G ratio of 1.47 and a beta of 1.75.
Charles Schwab (NYSE:SCHW) last posted its quarterly earnings data on Wednesday, October 18th. The financial services provider reported $0.42 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.41 by $0.01. Charles Schwab had a return on equity of 15.77% and a net margin of 27.30%. The company had revenue of $2.17 billion for the quarter, compared to analysts’ expectations of $2.18 billion. During the same period in the previous year, the firm posted $0.35 EPS. Charles Schwab’s revenue was up 13.1% compared to the same quarter last year. equities research analysts anticipate that Charles Schwab will post 1.61 earnings per share for the current year.
In other news, Chairman Charles R. Schwab sold 225,000 shares of Charles Schwab stock in a transaction that occurred on Tuesday, October 24th. The shares were sold at an average price of $44.89, for a total transaction of $10,100,250.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Walter W. Bettinger purchased 72,510 shares of Charles Schwab stock in a transaction dated Tuesday, November 7th. The shares were purchased at an average cost of $27.21 per share, for a total transaction of $1,972,997.10. Following the transaction, the insider now owns 41,330 shares in the company, valued at approximately $1,124,589.30. The disclosure for this purchase can be found here. In the last ninety days, insiders have sold 1,658,531 shares of company stock worth $77,397,901. Corporate insiders own 12.00% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the business. Bogart Wealth LLC raised its position in Charles Schwab by 1,100.0% in the fourth quarter. Bogart Wealth LLC now owns 2,040 shares of the financial services provider’s stock valued at $105,000 after purchasing an additional 1,870 shares during the period. Zions Bancorporation raised its position in Charles Schwab by 1,545.3% in the third quarter. Zions Bancorporation now owns 3,817 shares of the financial services provider’s stock valued at $167,000 after purchasing an additional 3,585 shares during the period. Fruth Investment Management purchased a new stake in Charles Schwab in the fourth quarter valued at approximately $226,000. Quadrant Capital Group LLC raised its position in Charles Schwab by 31.4% in the second quarter. Quadrant Capital Group LLC now owns 4,531 shares of the financial services provider’s stock valued at $168,000 after purchasing an additional 1,082 shares during the period. Finally, Frontier Wealth Management LLC purchased a new stake in Charles Schwab in the second quarter valued at approximately $210,000. 79.54% of the stock is currently owned by institutional investors.
About Charles Schwab
The Charles Schwab Corporation (CSC) is a savings and loan holding company. The Company, through its subsidiaries, engages in wealth management, securities brokerage, banking, money management and financial advisory services. The Company provides financial services to individuals and institutional clients through two segments: Investor Services and Advisor Services.
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