Wells Fargo & Company Cuts Charles Schwab (NYSE:SCHW) Price Target to $89.00

Charles Schwab (NYSE:SCHW) had its price target lowered by equities researchers at Wells Fargo & Company from $90.00 to $89.00 in a report issued on Tuesday,Benzinga reports. The brokerage currently has an “equal weight” rating on the financial services provider’s stock. Wells Fargo & Company‘s price objective suggests a potential upside of 22.78% from the stock’s previous close.

A number of other research analysts also recently weighed in on the company. Citigroup reduced their target price on Charles Schwab from $85.00 to $80.00 and set a “neutral” rating on the stock in a report on Friday. Jefferies Financial Group upped their target price on Charles Schwab from $84.00 to $94.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Barclays upgraded Charles Schwab from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $74.00 to $95.00 in a report on Monday, December 9th. Truist Financial upgraded Charles Schwab to a “strong-buy” rating in a report on Monday, January 6th. Finally, Raymond James cut their price target on Charles Schwab from $76.00 to $73.00 in a research note on Tuesday, October 15th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $81.63.

Charles Schwab Trading Down 0.2 %

SCHW traded down $0.17 during midday trading on Tuesday, reaching $72.49. 291,418 shares of the company’s stock traded hands, compared to its average volume of 7,236,610. The firm has a fifty day moving average of $77.60 and a two-hundred day moving average of $70.59. The stock has a market capitalization of $129.01 billion, a price-to-earnings ratio of 28.32, a P/E/G ratio of 1.76 and a beta of 0.99. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.47 and a quick ratio of 0.47. Charles Schwab has a 52 week low of $59.67 and a 52 week high of $83.35.

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

Insider Buying and Selling at Charles Schwab

In other news, Chairman Charles R. Schwab sold 62,345 shares of the stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $72.52, for a total transaction of $4,521,259.40. Following the transaction, the chairman now directly owns 60,619,371 shares of the company’s stock, valued at $4,396,116,784.92. This represents a 0.10 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Carolyn Schwab-Pomerantz sold 29,800 shares of the stock in a transaction on 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 transaction, the director now directly owns 551,329 shares in the company, valued at $39,783,900.64. The trade was a 5.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 118,968 shares of company stock worth $8,842,821. Insiders own 6.60% of the company’s stock.

Hedge Funds Weigh In On Charles Schwab

A number of institutional investors have recently bought and sold shares of SCHW. Washington Trust Advisors Inc. raised its holdings in Charles Schwab by 62.6% in the 3rd quarter. Washington Trust Advisors Inc. now owns 387 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 149 shares during the period. Capital Performance Advisors LLP bought a new position in Charles Schwab in the 3rd quarter worth $25,000. Prospera Private Wealth LLC bought a new position in Charles Schwab in the 3rd quarter worth $31,000. Future Financial Wealth Managment LLC bought a new position in Charles Schwab in the 3rd quarter worth $32,000. Finally, Hazlett Burt & Watson Inc. bought a new position in Charles Schwab in the 3rd quarter worth $33,000. 84.38% of the stock is 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.