Charles Schwab (NYSE:SCHW) Price Target Raised to $74.00

Charles Schwab (NYSE:SCHW) had its price objective raised by The Goldman Sachs Group from $67.00 to $74.00 in a report released on Wednesday, Benzinga reports. The Goldman Sachs Group currently has a neutral rating on the financial services provider’s stock.

A number of other analysts also recently issued reports on the stock. Barclays lowered their price objective on shares of Charles Schwab from $77.00 to $68.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 17th. Deutsche Bank Aktiengesellschaft lowered their target price on Charles Schwab from $77.00 to $76.00 in a research report on Tuesday. Citigroup reduced their price target on Charles Schwab from $75.00 to $72.00 and set a “neutral” rating for the company in a research report on Friday, September 27th. Bank of America lowered their price target on Charles Schwab from $72.00 to $66.00 and set an “underperform” rating on the stock in a research report on Wednesday, July 17th. Finally, Morgan Stanley decreased their target price on shares of Charles Schwab from $70.00 to $68.00 and set an “equal weight” rating for the company in a research note on Monday, October 7th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Charles Schwab presently has an average rating of “Hold” and a consensus target price of $73.59.

Charles Schwab Price Performance

Shares of NYSE SCHW opened at $71.34 on Wednesday. The company has a fifty day moving average price of $64.97 and a 200 day moving average price of $69.52. The firm has a market cap of $126.87 billion, a PE ratio of 29.60, a PEG ratio of 1.47 and a beta of 0.97. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 0.65. Charles Schwab has a 1-year low of $48.66 and a 1-year high of $79.49.

Charles Schwab (NYSE:SCHW) last posted its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $0.77 earnings per share for the quarter, topping the consensus estimate of $0.75 by $0.02. Charles Schwab had a return on equity of 18.14% and a net margin of 26.30%. The company had revenue of $4.85 billion during the quarter, compared to analysts’ expectations of $4.78 billion. During the same period in the prior year, the firm earned $0.77 earnings per share. Charles Schwab’s revenue for the quarter was up 5.2% compared to the same quarter last year. Research analysts predict that Charles Schwab will post 3.06 earnings per share for the current fiscal year.

Charles Schwab Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Friday, August 9th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.40%. The ex-dividend date of this dividend was Friday, August 9th. Charles Schwab’s dividend payout ratio (DPR) is 41.49%.

Insiders Place Their Bets

In other news, Director Carolyn Schwab-Pomerantz sold 9,000 shares of Charles Schwab stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $64.05, for a total value of $576,450.00. Following the completion of the sale, the director now directly owns 554,929 shares in the company, valued at approximately $35,543,202.45. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Charles Schwab news, insider Paul V. Woolway sold 1,150 shares of the firm’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $65.20, for a total value of $74,980.00. Following the transaction, the insider now directly owns 61,887 shares of the company’s stock, valued at $4,035,032.40. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $64.05, for a total transaction of $576,450.00. Following the completion of the transaction, the director now owns 554,929 shares of the company’s stock, valued at $35,543,202.45. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 182,001 shares of company stock worth $12,512,592 in the last quarter. Corporate insiders own 6.60% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in SCHW. Country Trust Bank acquired a new stake in shares of Charles Schwab in the 2nd quarter valued at $26,000. Fortitude Family Office LLC lifted its position in shares of Charles Schwab by 97.5% during the 2nd quarter. Fortitude Family Office LLC now owns 389 shares of the financial services provider’s stock worth $29,000 after buying an additional 192 shares during the last quarter. American Capital Advisory LLC acquired a new stake in Charles Schwab in the second quarter valued at about $27,000. CGC Financial Services LLC bought a new position in Charles Schwab in the second quarter valued at about $29,000. Finally, Mizuho Securities Co. Ltd. acquired a new position in Charles Schwab during the second quarter worth about $29,000. 84.38% of the stock is owned by institutional investors.

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.