JPMorgan Chase & Co. Increases Charles Schwab (NYSE:SCHW) Price Target to $89.00

Charles Schwab (NYSE:SCHW) had its target price lifted by stock analysts at JPMorgan Chase & Co. from $86.00 to $89.00 in a note issued to investors on Tuesday, Benzinga reports. The brokerage presently has an “overweight” rating on the financial services provider’s stock. JPMorgan Chase & Co.‘s price objective would suggest a potential upside of 22.76% from the company’s previous close.

SCHW has been the topic of a number of other research reports. Bank of America lifted their price target on Charles Schwab from $68.00 to $70.00 and gave the stock an “underperform” rating in a research note on Tuesday. Morgan Stanley lifted their price target on Charles Schwab from $65.00 to $71.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 9th. Piper Sandler lifted their price target on Charles Schwab from $75.00 to $78.00 and gave the stock an “overweight” rating in a research note on Friday, April 12th. JMP Securities lifted their target price on Charles Schwab from $77.00 to $80.00 and gave the company a “market outperform” rating in a research note on Tuesday, April 9th. Finally, TD Cowen raised Charles Schwab from a “market perform” rating to an “outperform” rating and set a $87.00 target price on the stock in a research note on Friday, March 22nd. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $74.47.

Charles Schwab Price Performance

Shares of NYSE SCHW opened at $72.50 on Tuesday. Charles Schwab has a fifty-two week low of $45.65 and a fifty-two week high of $73.88. The firm’s 50-day simple moving average is $68.17 and its 200 day simple moving average is $62.82. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.82. The stock has a market cap of $128.76 billion, a P/E ratio of 30.33, a P/E/G ratio of 1.08 and a beta of 1.01.

Charles Schwab (NYSE:SCHW) last issued its quarterly earnings data on Wednesday, January 17th. The financial services provider reported $0.68 earnings per share for the quarter, beating analysts’ consensus estimates of $0.64 by $0.04. Charles Schwab had a net margin of 26.14% and a return on equity of 19.86%. The business had revenue of $4.46 billion for the quarter, compared to analysts’ expectations of $4.49 billion. During the same period in the previous year, the business earned $1.07 earnings per share. The company’s revenue was down 18.9% on a year-over-year basis. Equities analysts expect that Charles Schwab will post 3.4 EPS for the current year.

Insider Transactions at Charles Schwab

In other news, CFO Peter B. Crawford sold 4,000 shares of the company’s stock in a transaction that occurred on Monday, January 22nd. The stock was sold at an average price of $64.49, for a total transaction of $257,960.00. Following the completion of the transaction, the chief financial officer now directly owns 37,611 shares in the company, valued at $2,425,533.39. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, CFO Peter B. Crawford sold 4,000 shares of the company’s stock in a transaction that occurred on Monday, January 22nd. The stock was sold at an average price of $64.49, for a total transaction of $257,960.00. Following the completion of the transaction, the chief financial officer now directly owns 37,611 shares in the company, valued at $2,425,533.39. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the company’s stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $70.87, for a total value of $637,830.00. Following the completion of the transaction, the director now owns 581,457 shares of the company’s stock, valued at $41,207,857.59. The disclosure for this sale can be found here. Insiders sold a total of 216,584 shares of company stock worth $14,200,769 over the last three months. 6.60% of the stock is currently owned by insiders.

Institutional Trading of Charles Schwab

A number of large investors have recently bought and sold shares of the stock. Dodge & Cox grew its position in Charles Schwab by 10.5% in the fourth quarter. Dodge & Cox now owns 86,421,986 shares of the financial services provider’s stock valued at $5,945,833,000 after acquiring an additional 8,182,467 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in shares of Charles Schwab by 33.4% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 69,360,233 shares of the financial services provider’s stock worth $4,771,985,000 after purchasing an additional 17,369,091 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its stake in shares of Charles Schwab by 4.1% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 30,994,967 shares of the financial services provider’s stock valued at $2,132,454,000 after acquiring an additional 1,219,015 shares during the period. Geode Capital Management LLC lifted its stake in shares of Charles Schwab by 1.5% during the first quarter. Geode Capital Management LLC now owns 27,050,168 shares of the financial services provider’s stock valued at $1,413,244,000 after acquiring an additional 391,238 shares during the period. Finally, Morgan Stanley lifted its stake in shares of Charles Schwab by 62.5% during the fourth quarter. Morgan Stanley now owns 22,255,649 shares of the financial services provider’s stock valued at $1,853,005,000 after acquiring an additional 8,563,389 shares during the period. 84.38% of the stock is currently owned by institutional investors.

About Charles Schwab

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.