Charles Schwab (NYSE:SCHW) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Charles Schwab (NYSE:SCHW) had its target price raised by stock analysts at JPMorgan Chase & Co. from $87.00 to $93.00 in a research report issued on Tuesday,Benzinga reports. The firm currently has an “overweight” rating on the financial services provider’s stock. JPMorgan Chase & Co.‘s price target suggests a potential upside of 27.52% from the stock’s previous close.

Several other brokerages also recently issued reports on SCHW. Raymond James reduced their price target on shares of Charles Schwab from $76.00 to $73.00 in a research report on Tuesday, October 15th. Deutsche Bank Aktiengesellschaft upped their target price on shares of Charles Schwab from $77.00 to $80.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. Cowen raised their price target on shares of Charles Schwab from $69.00 to $75.00 and gave the company a “hold” rating in a report on Tuesday, October 15th. Wells Fargo & Company upped their price objective on Charles Schwab from $75.00 to $90.00 and gave the stock an “equal weight” rating in a report on Thursday, December 12th. Finally, Piper Sandler lifted their target price on Charles Schwab from $65.00 to $70.00 and gave the company a “neutral” rating in a research note on Tuesday. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $81.19.

Charles Schwab Price Performance

Shares of SCHW stock opened at $72.93 on Tuesday. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.47 and a quick ratio of 0.47. The stock’s fifty day simple moving average is $77.49 and its 200 day simple moving average is $70.63. Charles Schwab has a one year low of $59.67 and a one year high of $83.35. The firm has a market cap of $129.79 billion, a price-to-earnings ratio of 28.49, a P/E/G ratio of 1.76 and a beta of 0.99.

Charles Schwab (NYSE:SCHW) last posted its earnings results on Tuesday, October 15th. The financial services provider reported $0.77 earnings per share for the quarter, topping the consensus estimate of $0.75 by $0.02. Charles Schwab had a net margin of 27.47% and a return on equity of 16.92%. The business had revenue of $4.85 billion for the quarter, compared to analyst estimates of $4.78 billion. During the same quarter in the prior year, the firm earned $0.77 EPS. The firm’s quarterly revenue was up 5.2% compared to the same quarter last year. On average, analysts expect that Charles Schwab will post 3.12 earnings per share for the current fiscal year.

Insider Buying and Selling at Charles Schwab

In other Charles Schwab news, Chairman Charles R. Schwab sold 62,345 shares of the firm’s stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $72.52, for a total transaction of $4,521,259.40. Following the sale, the chairman now directly owns 60,619,371 shares in the company, valued at approximately $4,396,116,784.92. This trade represents a 0.10 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Carolyn Schwab-Pomerantz sold 29,800 shares of the company’s stock in a transaction that occurred on Thursday, October 17th. The shares were sold at an average price of $72.16, for a total transaction of $2,150,368.00. Following the completion of the transaction, the director now owns 551,329 shares of the company’s stock, valued at $39,783,900.64. This trade represents a 5.13 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 118,968 shares of company stock valued at $8,842,821. Corporate insiders own 6.60% of the company’s stock.

Institutional Trading of Charles Schwab

A number of institutional investors have recently modified their holdings of the company. Alliance Wealth Advisors LLC raised its position in Charles Schwab by 2.7% in the 3rd quarter. Alliance Wealth Advisors LLC now owns 5,358 shares of the financial services provider’s stock valued at $347,000 after buying an additional 142 shares during the last quarter. Michael S. Ryan Inc. lifted its position in shares of Charles Schwab by 2.5% in the fourth quarter. Michael S. Ryan Inc. now owns 5,998 shares of the financial services provider’s stock worth $444,000 after purchasing an additional 144 shares in the last quarter. GS Investments Inc. boosted its holdings in Charles Schwab by 0.3% during the third quarter. GS Investments Inc. now owns 57,434 shares of the financial services provider’s stock worth $3,722,000 after purchasing an additional 146 shares during the last quarter. Washington Trust Advisors Inc. grew its position in Charles Schwab by 62.6% in the third quarter. Washington Trust Advisors Inc. now owns 387 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 149 shares in the last quarter. Finally, Arcataur Capital Management LLC grew its position in Charles Schwab by 2.3% in the third quarter. Arcataur Capital Management LLC now owns 6,648 shares of the financial services provider’s stock valued at $431,000 after purchasing an additional 150 shares in the last quarter. 84.38% of the stock is currently owned by institutional investors.

Charles Schwab Company Profile

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.