Charles Schwab (NYSE:SCHW) Upgraded at Truist Financial

Truist Financial upgraded shares of Charles Schwab (NYSE:SCHW) to a strong-buy rating in a research note released on Monday morning,Zacks.com reports.

Other equities analysts have also recently issued research reports about the stock. StockNews.com raised shares of Charles Schwab from a “sell” rating to a “hold” rating in a research report on Wednesday, October 16th. Raymond James dropped their target price on shares of Charles Schwab from $76.00 to $73.00 in a research note on Tuesday, October 15th. Bank of America lowered their price target on shares of Charles Schwab from $63.00 to $61.00 and set an “underperform” rating on the stock in a report on Wednesday, October 16th. Cowen raised their target price on Charles Schwab from $69.00 to $75.00 and gave the stock a “hold” rating in a research report on Tuesday, October 15th. Finally, JMP Securities reiterated a “market outperform” rating and set a $94.00 price target (up from $84.00) on shares of Charles Schwab in a research report on Monday, December 9th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Charles Schwab currently has a consensus rating of “Moderate Buy” and an average price target of $81.19.

Charles Schwab Price Performance

Shares of NYSE SCHW opened at $72.93 on Monday. The firm has a market capitalization of $129.79 billion, a P/E ratio of 28.49, a P/E/G ratio of 1.76 and a beta of 0.99. The firm’s 50-day moving average price is $77.49 and its 200-day moving average price is $70.63. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 0.59. Charles Schwab has a 1-year low of $59.67 and a 1-year high of $83.35.

Charles Schwab (NYSE:SCHW) last released its quarterly earnings data 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 firm had revenue of $4.85 billion for the quarter, compared to the consensus estimate of $4.78 billion. During the same quarter in the prior year, the company posted $0.77 earnings per share. The business’s revenue was up 5.2% on a year-over-year basis. Equities research analysts anticipate that Charles Schwab will post 3.12 earnings per share for the current fiscal year.

Charles Schwab Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Friday, November 8th were paid a $0.25 dividend. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.37%. Charles Schwab’s dividend payout ratio is currently 39.06%.

Insider Activity at Charles Schwab

In other news, insider Jonathan S. Beatty sold 2,300 shares of the stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $82.01, for a total value of $188,623.00. Following the transaction, the insider now owns 18,069 shares in the company, valued at $1,481,838.69. This represents a 11.29 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Carolyn Schwab-Pomerantz sold 29,800 shares of the firm’s stock in a transaction dated Thursday, October 17th. The shares were sold at an average price of $72.16, for a total value of $2,150,368.00. Following the sale, the director now directly owns 551,329 shares in the company, valued at approximately $39,783,900.64. This represents a 5.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 118,968 shares of company stock valued at $8,842,821 over the last 90 days. Corporate insiders own 6.60% of the company’s stock.

Institutional Investors Weigh In On Charles Schwab

Several large investors have recently bought and sold shares of SCHW. State Street Corp increased its position in Charles Schwab by 0.7% during the third quarter. State Street Corp now owns 62,076,447 shares of the financial services provider’s stock valued at $4,023,175,000 after acquiring an additional 414,949 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Charles Schwab by 1.5% during the third quarter. Geode Capital Management LLC now owns 30,141,441 shares of the financial services provider’s stock valued at $1,945,614,000 after buying an additional 445,304 shares during the period. Massachusetts Financial Services Co. MA raised its holdings in shares of Charles Schwab by 6.3% in the third quarter. Massachusetts Financial Services Co. MA now owns 28,679,305 shares of the financial services provider’s stock worth $1,858,706,000 after buying an additional 1,711,312 shares during the period. Franklin Resources Inc. boosted its holdings in Charles Schwab by 15.0% during the 3rd quarter. Franklin Resources Inc. now owns 24,261,234 shares of the financial services provider’s stock valued at $1,644,674,000 after acquiring an additional 3,157,923 shares during the period. Finally, Fisher Asset Management LLC grew its holdings in shares of Charles Schwab by 2.5% in the third quarter. Fisher Asset Management LLC now owns 20,189,558 shares of the financial services provider’s stock worth $1,308,485,000 after purchasing an additional 493,264 shares during the last quarter. Institutional investors own 84.38% of the company’s stock.

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.