Piper Sandler Has Lowered Expectations for Charles Schwab (NYSE:SCHW) Stock Price

Charles Schwab (NYSE:SCHW) had its price target reduced by Piper Sandler from $78.00 to $74.00 in a report released on Tuesday morning,Benzinga reports. Piper Sandler currently has a neutral rating on the financial services provider’s stock.

Other equities research analysts also recently issued reports about the stock. UBS Group raised their price objective on shares of Charles Schwab from $90.00 to $95.00 and gave the stock a “buy” rating in a research report on Monday, January 27th. JMP Securities reiterated a “market outperform” rating and set a $94.00 target price (up previously from $84.00) on shares of Charles Schwab in a research note on Monday, December 9th. Barclays reduced their price target on Charles Schwab from $96.00 to $84.00 and set an “overweight” rating for the company in a research note on Monday. Morgan Stanley upgraded Charles Schwab from an “equal weight” rating to an “overweight” rating and set a $76.00 price objective on the stock in a research report on Tuesday. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on shares of Charles Schwab from $98.00 to $105.00 and gave the company a “buy” rating in a research report on Wednesday, January 22nd. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $85.33.

Charles Schwab Stock Down 2.0 %

SCHW stock opened at $73.76 on Tuesday. Charles Schwab has a 1-year low of $61.01 and a 1-year high of $84.50. The business’s 50 day simple moving average is $77.87 and its 200 day simple moving average is $76.05. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 0.59. The firm has a market capitalization of $133.77 billion, a PE ratio of 24.67, a PEG ratio of 0.99 and a beta of 0.91.

Charles Schwab (NYSE:SCHW) last released its quarterly earnings data on Tuesday, January 21st. The financial services provider reported $1.01 EPS for the quarter, beating the consensus estimate of $0.90 by $0.11. The firm had revenue of $5.33 billion for the quarter, compared to the consensus estimate of $5.19 billion. Charles Schwab had a net margin of 30.31% and a return on equity of 18.20%. The company’s quarterly revenue was up 19.5% on a year-over-year basis. During the same period in the previous year, the company earned $0.68 earnings per share. As a group, research analysts anticipate that Charles Schwab will post 4.22 EPS for the current year.

Charles Schwab Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 14th were paid a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 1.46%. This is a boost from Charles Schwab’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Friday, February 14th. Charles Schwab’s dividend payout ratio (DPR) is 36.12%.

Insiders Place Their Bets

In related news, Chairman Walter W. Bettinger sold 464,629 shares of the company’s stock in a transaction that occurred on Wednesday, February 12th. The shares were sold at an average price of $81.91, for a total transaction of $38,057,761.39. Following the completion of the transaction, the chairman now directly owns 827,377 shares in the company, valued at $67,770,450.07. This represents a 35.96 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Paul V. Woolway sold 3,380 shares of the stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $77.43, for a total transaction of $261,713.40. Following the completion of the transaction, the insider now directly owns 45,824 shares of the company’s stock, valued at approximately $3,548,152.32. The trade was a 6.87 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 513,081 shares of company stock worth $41,903,066 over the last three months. Insiders own 6.60% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of SCHW. Principal Financial Group Inc. boosted its stake in shares of Charles Schwab by 0.6% during the third quarter. Principal Financial Group Inc. now owns 6,673,901 shares of the financial services provider’s stock valued at $432,536,000 after purchasing an additional 38,201 shares in the last quarter. United Bank boosted its position in Charles Schwab by 13.0% during the 3rd quarter. United Bank now owns 11,352 shares of the financial services provider’s stock worth $736,000 after buying an additional 1,309 shares during the period. Benjamin Edwards Inc. grew its holdings in Charles Schwab by 2,840.7% during the 3rd quarter. Benjamin Edwards Inc. now owns 6,146 shares of the financial services provider’s stock worth $398,000 after acquiring an additional 5,937 shares during the last quarter. Y Intercept Hong Kong Ltd increased its position in Charles Schwab by 125.5% in the 3rd quarter. Y Intercept Hong Kong Ltd now owns 20,728 shares of the financial services provider’s stock valued at $1,343,000 after acquiring an additional 11,537 shares during the period. Finally, Nomura Asset Management Co. Ltd. raised its stake in shares of Charles Schwab by 11.5% during the third quarter. Nomura Asset Management Co. Ltd. now owns 865,919 shares of the financial services provider’s stock valued at $56,120,000 after acquiring an additional 88,962 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.