Charles Schwab (NYSE:SCHW) Earns “Outperform” Rating from JPMorgan Chase & Co.

Charles Schwab (NYSE:SCHW)‘s stock had its “outperform” rating restated by JPMorgan Chase & Co. in a report released on Wednesday. They presently have a $92.00 price target on the financial services provider’s stock. JPMorgan Chase & Co.‘s target price indicates a potential upside of 20.19% from the stock’s current price. JPMorgan analyst Kenneth Worthington reiterated an Overweight rating and $92 target. Ahead of earnings, he highlighted Schwab’s earnings model and positive impact of rising cash allocations.

Other equities research analysts have also issued reports about the stock. UBS Group increased their target price on shares of Charles Schwab from $90.00 to $95.00 and gave the stock a “buy” rating in a research note on Monday, January 27th. TD Cowen raised shares of Charles Schwab from a “hold” rating to a “buy” rating and lifted their price target for the company from $88.00 to $103.00 in a research note on Tuesday, February 18th. Redburn Partners lowered their price objective on Charles Schwab from $70.00 to $68.00 and set a “sell” rating on the stock in a report on Friday, January 17th. Truist Financial dropped their target price on shares of Charles Schwab from $91.00 to $85.00 and set a “buy” rating for the company in a report on Friday, April 4th. Finally, Keefe, Bruyette & Woods raised their target price on shares of Charles Schwab from $81.00 to $93.00 and gave the stock an “outperform” rating in a research note on Friday, December 20th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $85.28.

Charles Schwab Stock Performance

Shares of NYSE SCHW traded up $0.84 during trading on Wednesday, reaching $76.54. 13,778,335 shares of the company traded hands, compared to its average volume of 9,277,264. The stock has a market cap of $138.82 billion, a P/E ratio of 25.60, a PEG ratio of 0.99 and a beta of 0.91. The firm’s fifty day simple moving average is $77.39 and its 200 day simple moving average is $76.32. 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 12-month low of $61.01 and a 12-month high of $84.50.

Charles Schwab (NYSE:SCHW) last announced its quarterly earnings results on Thursday, April 17th. The financial services provider reported $1.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.01 by $0.03. The company had revenue of $5.60 billion during the quarter, compared to the consensus estimate of $5.46 billion. Charles Schwab had a return on equity of 18.20% and a net margin of 30.31%. During the same period in the previous year, the company posted $0.74 earnings per share. As a group, research analysts anticipate that Charles Schwab will post 4.22 earnings per share for the current fiscal year.

Insider Activity at Charles Schwab

In other Charles Schwab news, insider Paul V. Woolway sold 3,380 shares of the business’s stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $77.43, for a total value of $261,713.40. Following the completion of the sale, the insider now owns 45,824 shares in the company, valued at approximately $3,548,152.32. The trade was a 6.87 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, General Counsel Peter J. Morgan III sold 14,643 shares of the firm’s stock in a transaction that occurred on Wednesday, January 22nd. The stock was sold at an average price of $80.70, for a total transaction of $1,181,690.10. The disclosure for this sale can be found here. Insiders sold 513,081 shares of company stock valued at $41,903,066 over the last three months. 6.60% of the stock is owned by corporate insiders.

Institutional Trading of Charles Schwab

A number of large investors have recently bought and sold shares of SCHW. Vanguard Group Inc. raised its holdings in shares of Charles Schwab by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 128,578,230 shares of the financial services provider’s stock valued at $9,516,075,000 after buying an additional 1,187,384 shares during the last quarter. Geode Capital Management LLC raised its stake in Charles Schwab by 2.5% during the 4th quarter. Geode Capital Management LLC now owns 30,901,484 shares of the financial services provider’s stock valued at $2,279,742,000 after acquiring an additional 760,043 shares during the last quarter. Franklin Resources Inc. grew its stake in shares of Charles Schwab by 15.0% in 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 purchasing an additional 3,157,923 shares during the last quarter. Fisher Asset Management LLC increased its holdings in shares of Charles Schwab by 1.3% in the fourth quarter. Fisher Asset Management LLC now owns 20,455,266 shares of the financial services provider’s stock valued at $1,513,894,000 after purchasing an additional 265,708 shares during the period. Finally, Norges Bank purchased a new stake in shares of Charles Schwab during the fourth quarter worth approximately $1,289,544,000. Institutional investors and hedge funds 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.