The Charles Schwab (NYSE:SCHW) Price Target Cut to $90.00

The Charles Schwab (NYSE:SCHW) had its price target dropped by research analysts at Wolfe Research from $94.00 to $90.00 in a report released on Friday, Briefing.com reports. The brokerage currently has an “outperform” rating on the financial services provider’s stock. Wolfe Research’s price target points to a potential upside of 7.72% from the company’s current price.

A number of other brokerages have also recently weighed in on SCHW. Atlantic Securities started coverage on shares of The Charles Schwab in a research report on Tuesday, October 5th. They issued an “overweight” rating and a $95.00 price target for the company. Zacks Investment Research raised shares of The Charles Schwab from a “sell” rating to a “buy” rating and set a $80.00 price target for the company in a research report on Wednesday, September 29th. The Goldman Sachs Group cut shares of The Charles Schwab from a “buy” rating to a “neutral” rating and set a $76.00 price target for the company. in a research report on Thursday, July 8th. JMP Securities boosted their price target on shares of The Charles Schwab from $83.00 to $85.00 and gave the company a “market outperform” rating in a research report on Friday, July 23rd. Finally, boosted their price target on shares of The Charles Schwab from $93.00 to $94.00 and gave the company a “buy” rating in a research report on Monday, July 12th. Two equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat, The Charles Schwab has a consensus rating of “Buy” and a consensus target price of $85.00.

Shares of SCHW stock opened at $83.55 on Friday. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.39. The Charles Schwab has a 52 week low of $37.29 and a 52 week high of $83.74. The stock has a market capitalization of $150.98 billion, a PE ratio of 35.25 and a beta of 1.05. The firm has a 50 day moving average of $73.80 and a two-hundred day moving average of $71.65.

The Charles Schwab (NYSE:SCHW) last released its quarterly earnings data on Thursday, October 14th. The financial services provider reported $0.84 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.81 by $0.03. The business had revenue of $4.57 billion during the quarter, compared to analysts’ expectations of $4.51 billion. The Charles Schwab had a net margin of 28.88% and a return on equity of 12.89%. The company’s revenue for the quarter was up 86.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.51 EPS. Analysts expect that The Charles Schwab will post 3.14 EPS for the current fiscal year.

In related news, CEO Walter W. Bettinger sold 245,239 shares of the company’s stock in a transaction that occurred on Tuesday, October 19th. The shares were sold at an average price of $81.12, for a total transaction of $19,893,787.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Bernard J. Clark sold 29,977 shares of the company’s stock in a transaction that occurred on Monday, October 11th. The stock was sold at an average price of $78.16, for a total transaction of $2,343,002.32. The disclosure for this sale can be found here. Insiders have sold 1,085,020 shares of company stock worth $83,720,562 in the last three months. Insiders own 7.50% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in shares of The Charles Schwab by 1.0% in the second quarter. Vanguard Group Inc. now owns 115,044,473 shares of the financial services provider’s stock worth $8,376,388,000 after acquiring an additional 1,140,653 shares in the last quarter. BlackRock Inc. increased its position in shares of The Charles Schwab by 4.3% in the second quarter. BlackRock Inc. now owns 112,447,685 shares of the financial services provider’s stock worth $8,187,314,000 after acquiring an additional 4,670,450 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of The Charles Schwab by 2.8% in the second quarter. Price T Rowe Associates Inc. MD now owns 83,022,035 shares of the financial services provider’s stock worth $6,044,834,000 after acquiring an additional 2,285,311 shares in the last quarter. Primecap Management Co. CA grew its holdings in The Charles Schwab by 3.3% during the 1st quarter. Primecap Management Co. CA now owns 29,412,279 shares of the financial services provider’s stock valued at $1,917,092,000 after purchasing an additional 952,710 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings in The Charles Schwab by 4.7% during the 2nd quarter. Geode Capital Management LLC now owns 23,322,538 shares of the financial services provider’s stock valued at $1,692,952,000 after purchasing an additional 1,053,694 shares in the last quarter. 71.66% of the stock is owned by institutional investors.

About The Charles Schwab

The Charles Schwab Corp. is a savings and loan holding company, which engages in the provision of wealth management, securities brokerage, banking, asset management, custody, and financial advisory services. It operates through the Investor Services and Advisor Services segments. The Investor Services segment includes retail brokerage and banking services to individual investors, and retirement plan services, as well as other corporate brokerage services, to businesses and their employees.

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