Raymond James Downgrades Charles Schwab (NYSE:SCHW) to Market Perform

Charles Schwab (NYSE:SCHW) was downgraded by equities research analysts at Raymond James from an “outperform” rating to a “market perform” rating in a report issued on Tuesday, Marketbeat reports. The analysts noted that the move was a valuation call.

Other equities analysts have also recently issued research reports about the company. Keefe, Bruyette & Woods cut Charles Schwab from an “outperform” rating to a “market perform” rating and reduced their target price for the stock from $51.00 to $43.50 in a report on Friday, July 12th. Barclays restated a “sell” rating and set a $35.00 target price on shares of Charles Schwab in a report on Tuesday, October 22nd. Sandler O’Neill set a $45.00 target price on Charles Schwab and gave the stock a “buy” rating in a report on Tuesday, October 15th. Citigroup raised their target price on Charles Schwab from $37.00 to $40.00 and gave the stock a “neutral” rating in a report on Wednesday, October 16th. Finally, Morgan Stanley raised their target price on Charles Schwab from $43.00 to $45.00 and gave the stock an “overweight” rating in a report on Monday, October 21st. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $44.38.

Shares of SCHW stock opened at $43.08 on Tuesday. The stock has a 50-day moving average price of $40.00 and a 200 day moving average price of $41.18. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.40. The firm has a market cap of $56.50 billion, a price-to-earnings ratio of 17.58, a PEG ratio of 2.72 and a beta of 1.32. Charles Schwab has a 12 month low of $34.58 and a 12 month high of $49.24.

Charles Schwab (NYSE:SCHW) last announced its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $0.70 EPS for the quarter, topping the Zacks’ consensus estimate of $0.65 by $0.05. The firm had revenue of $2.71 billion during the quarter, compared to analyst estimates of $2.65 billion. Charles Schwab had a return on equity of 20.85% and a net margin of 35.12%. The company’s revenue was up 5.1% on a year-over-year basis. During the same period last year, the company earned $0.65 earnings per share. Sell-side analysts predict that Charles Schwab will post 2.73 earnings per share for the current fiscal year.

In other Charles Schwab news, Director Stephen T. Mclin sold 5,093 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $37.56, for a total value of $191,293.08. Following the sale, the director now owns 7,297 shares in the company, valued at approximately $274,075.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Jonathan M. Craig sold 3,740 shares of the business’s stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $38.97, for a total value of $145,747.80. The disclosure for this sale can be found here. Insiders sold a total of 219,677 shares of company stock worth $8,993,241 in the last 90 days. Company insiders own 10.90% of the company’s stock.

Several large investors have recently bought and sold shares of SCHW. Venturi Wealth Management LLC acquired a new position in shares of Charles Schwab during the 3rd quarter worth approximately $26,000. FNY Investment Advisers LLC increased its holdings in shares of Charles Schwab by 133.3% during the 2nd quarter. FNY Investment Advisers LLC now owns 700 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 400 shares during the last quarter. Flagship Harbor Advisors LLC increased its holdings in shares of Charles Schwab by 303.0% during the 3rd quarter. Flagship Harbor Advisors LLC now owns 802 shares of the financial services provider’s stock worth $33,000 after acquiring an additional 603 shares during the last quarter. Gradient Investments LLC increased its holdings in shares of Charles Schwab by 526.2% during the 3rd quarter. Gradient Investments LLC now owns 814 shares of the financial services provider’s stock worth $34,000 after acquiring an additional 684 shares during the last quarter. Finally, Glassman Wealth Services increased its holdings in shares of Charles Schwab by 51.0% during the 2nd quarter. Glassman Wealth Services now owns 1,098 shares of the financial services provider’s stock worth $44,000 after acquiring an additional 371 shares during the last quarter. 79.10% of the stock is currently owned by hedge funds and other institutional investors.

About Charles Schwab

The Charles Schwab Corporation, through its subsidiaries, provides wealth management, securities brokerage, banking, asset management, custody, and financial advisory services. The company operates through two segments, Investor Services and Advisor Services. The Investor Services segment provides retail brokerage and banking services, retirement plan services, and other corporate brokerage services; equity compensation plan sponsors full-service recordkeeping for stock plans, stock options, restricted stock, performance shares, and stock appreciation rights; and retail investor, retirement plan, and mutual fund clearing services.

Featured Story: How to track put option volume

Analyst Recommendations for Charles Schwab (NYSE:SCHW)

Receive News & Ratings for Charles Schwab Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Charles Schwab and related companies with MarketBeat.com's FREE daily email newsletter.