Charles Schwab (NYSE:SCHW) Price Target Cut to $72.00

Charles Schwab (NYSE:SCHW) had its price target cut by stock analysts at Citigroup from $75.00 to $72.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm currently has a “neutral” rating on the financial services provider’s stock. Citigroup’s price objective would suggest a potential upside of 11.77% from the stock’s current price.

A number of other analysts have also issued reports on SCHW. Morgan Stanley dropped their price objective on shares of Charles Schwab from $71.00 to $70.00 and set an “equal weight” rating on the stock in a research note on Friday, August 16th. The Goldman Sachs Group dropped their price target on Charles Schwab from $71.00 to $67.00 and set a “neutral” rating on the stock in a research report on Thursday. Wells Fargo & Company assumed coverage on Charles Schwab in a research note on Thursday, September 12th. They issued an “equal weight” rating and a $70.00 target price for the company. JMP Securities lowered their price target on shares of Charles Schwab from $85.00 to $82.00 and set a “market outperform” rating for the company in a research report on Tuesday, July 23rd. Finally, JPMorgan Chase & Co. cut their target price on Charles Schwab from $82.00 to $78.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 17th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $73.31.

Charles Schwab Trading Up 0.9 %

Shares of Charles Schwab stock opened at $64.42 on Friday. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.42 and a quick ratio of 0.42. The business has a 50 day moving average price of $64.10 and a 200 day moving average price of $69.84. The company has a market capitalization of $114.57 billion, a P/E ratio of 26.95, a P/E/G ratio of 1.21 and a beta of 0.97. Charles Schwab has a 1 year low of $48.66 and a 1 year high of $79.49.

Charles Schwab (NYSE:SCHW) last released its earnings results on Tuesday, July 16th. The financial services provider reported $0.73 EPS for the quarter, topping the consensus estimate of $0.72 by $0.01. Charles Schwab had a net margin of 26.30% and a return on equity of 18.14%. The firm had revenue of $4.69 billion during the quarter, compared to analysts’ expectations of $4.68 billion. During the same period in the previous year, the company earned $0.75 EPS. Charles Schwab’s revenue for the quarter was up .7% on a year-over-year basis. Sell-side analysts anticipate that Charles Schwab will post 3.05 EPS for the current fiscal year.

Insider Activity at Charles Schwab

In related news, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the stock in a transaction dated Friday, July 19th. The shares were sold at an average price of $61.96, for a total transaction of $557,640.00. Following the completion of the sale, the director now owns 567,057 shares in the company, valued at approximately $35,134,851.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the firm’s stock in a transaction that occurred on Friday, July 19th. The shares were sold at an average price of $61.96, for a total value of $557,640.00. Following the completion of the sale, the director now owns 567,057 shares of the company’s stock, valued at $35,134,851.72. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Chairman Charles R. Schwab sold 67,386 shares of the business’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $65.11, for a total value of $4,387,502.46. Following the sale, the chairman now directly owns 60,619,371 shares of the company’s stock, valued at $3,946,927,245.81. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 99,636 shares of company stock worth $6,457,104. 6.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Charles Schwab

Several institutional investors and hedge funds have recently modified their holdings of SCHW. Centaurus Financial Inc. lifted its holdings in shares of Charles Schwab by 38.8% in the second quarter. Centaurus Financial Inc. now owns 24,103 shares of the financial services provider’s stock valued at $1,776,000 after purchasing an additional 6,739 shares in the last quarter. Anchor Investment Management LLC lifted its position in shares of Charles Schwab by 7.0% in the second quarter. Anchor Investment Management LLC now owns 32,592 shares of the financial services provider’s stock valued at $2,402,000 after buying an additional 2,146 shares during the last quarter. SS&H Financial Advisors Inc. acquired a new stake in shares of Charles Schwab during the 2nd quarter worth about $435,000. Heritage Wealth Management Inc. bought a new stake in shares of Charles Schwab during the second quarter worth approximately $499,000. Finally, Sanctuary Advisors LLC bought a new stake in Charles Schwab in the 2nd quarter valued at $17,319,000. 84.38% of the stock is currently owned by institutional investors and hedge funds.

Charles Schwab Company Profile

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.