Charles Schwab (NYSE:SCHW) Price Target Raised to $85.00

Charles Schwab (NYSE:SCHW) had its target price lifted by Citigroup from $80.00 to $85.00 in a research note released on Wednesday morning,Benzinga reports. They currently have a neutral rating on the financial services provider’s stock.

Other analysts have also issued research reports about the stock. Keefe, Bruyette & Woods lifted their price objective on shares of Charles Schwab from $81.00 to $93.00 and gave the company an “outperform” rating in a research note on Friday, December 20th. Barclays upgraded shares of Charles Schwab from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $74.00 to $95.00 in a research note on Monday, December 9th. Redburn Partners decreased their price target on shares of Charles Schwab from $70.00 to $68.00 and set a “sell” rating for the company in a research note on Friday, January 17th. JPMorgan Chase & Co. boosted their price target on shares of Charles Schwab from $87.00 to $93.00 and gave the company an “overweight” rating in a research note on Tuesday, January 7th. Finally, Truist Financial upgraded shares of Charles Schwab to a “strong-buy” rating in a research note on Monday, January 6th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $83.83.

Charles Schwab Stock Down 0.5 %

Shares of NYSE SCHW opened at $81.67 on Wednesday. The company’s 50 day moving average price is $77.78 and its 200-day moving average price is $70.82. The company has a market capitalization of $145.34 billion, a P/E ratio of 27.31, a price-to-earnings-growth ratio of 1.46 and a beta of 0.99. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.47 and a current ratio of 0.47. Charles Schwab has a 52-week low of $61.01 and a 52-week high of $83.35.

Charles Schwab (NYSE:SCHW) last released its quarterly earnings data on Tuesday, January 21st. The financial services provider reported $1.01 earnings per share for the quarter, beating the consensus estimate of $0.90 by $0.11. The company had revenue of $5.33 billion during the quarter, compared to analyst estimates of $5,190,822.51 billion. Charles Schwab had a net margin of 30.31% and a return on equity of 18.20%. Charles Schwab’s revenue for the quarter was up 19.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.68 EPS. Equities analysts forecast that Charles Schwab will post 4.09 earnings per share for the current year.

Insider Buying and Selling at Charles Schwab

In other news, General Counsel Peter J. Morgan III sold 14,643 shares of the company’s stock in a transaction dated Wednesday, January 22nd. The stock was sold at an average price of $80.70, for a total transaction of $1,181,690.10. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Jonathan S. Beatty sold 2,500 shares of the company’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $77.02, for a total value of $192,550.00. Following the sale, the insider now owns 18,069 shares in the company, valued at approximately $1,391,674.38. This represents a 12.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 41,466 shares of company stock valued at $3,352,884 over the last three months. 6.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Charles Schwab

Hedge funds and other institutional investors have recently modified their holdings of the stock. Merit Financial Group LLC increased its position in shares of Charles Schwab by 230.1% during the fourth quarter. Merit Financial Group LLC now owns 33,546 shares of the financial services provider’s stock valued at $2,483,000 after buying an additional 23,383 shares during the period. Benjamin Edwards Inc. increased its position in shares of Charles Schwab by 2,840.7% in the third quarter. Benjamin Edwards Inc. now owns 6,146 shares of the financial services provider’s stock worth $398,000 after purchasing an additional 5,937 shares during the last quarter. Synovus Financial Corp increased its position in shares of Charles Schwab by 46.0% in the third quarter. Synovus Financial Corp now owns 67,889 shares of the financial services provider’s stock worth $4,400,000 after purchasing an additional 21,377 shares during the last quarter. Patten & Patten Inc. TN increased its position in shares of Charles Schwab by 155.9% in the third quarter. Patten & Patten Inc. TN now owns 104,168 shares of the financial services provider’s stock worth $6,751,000 after purchasing an additional 63,463 shares during the last quarter. Finally, Equity Investment Corp increased its position in shares of Charles Schwab by 9.4% in the third quarter. Equity Investment Corp now owns 1,640,157 shares of the financial services provider’s stock worth $106,299,000 after purchasing an additional 140,643 shares during the last quarter. 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.