Jefferies Financial Group Cuts Charles Schwab (NYSE:SCHW) Price Target to $73.00

Charles Schwab (NYSE:SCHW) had its target price trimmed by Jefferies Financial Group from $79.00 to $73.00 in a report published on Friday morning, Benzinga reports. They currently have a buy rating on the financial services provider’s stock.

Several other brokerages also recently commented on SCHW. TD Cowen restated a hold rating and issued a $71.00 target price (down from $88.00) on shares of Charles Schwab in a research note on Wednesday, July 17th. Deutsche Bank Aktiengesellschaft raised their price objective on Charles Schwab from $79.00 to $80.00 and gave the company a buy rating in a research note on Thursday, August 15th. The Goldman Sachs Group lowered their target price on Charles Schwab from $71.00 to $67.00 and set a neutral rating on the stock in a research report on Thursday, September 26th. JPMorgan Chase & Co. reduced their price target on shares of Charles Schwab from $82.00 to $78.00 and set an overweight rating for the company in a research report on Wednesday, July 17th. Finally, Keefe, Bruyette & Woods restated an outperform rating and set a $80.00 price objective on shares of Charles Schwab in a report on Thursday, August 22nd. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of Hold and an average price target of $72.38.

Charles Schwab Stock Performance

NYSE:SCHW opened at $64.75 on Friday. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.42 and a current ratio of 0.42. Charles Schwab has a fifty-two week low of $48.66 and a fifty-two week high of $79.49. The company has a 50 day simple moving average of $63.97 and a two-hundred day simple moving average of $69.72. The company has a market capitalization of $115.15 billion, a PE ratio of 27.09, a P/E/G ratio of 1.29 and a beta of 0.97.

Charles Schwab (NYSE:SCHW) last issued its quarterly earnings results on Tuesday, July 16th. The financial services provider reported $0.73 earnings per share for the quarter, topping analysts’ consensus estimates of $0.72 by $0.01. The firm had revenue of $4.69 billion during the quarter, compared to the consensus estimate of $4.68 billion. Charles Schwab had a return on equity of 18.14% and a net margin of 26.30%. The business’s revenue was up .7% compared to the same quarter last year. During the same period last year, the business posted $0.75 EPS. Research analysts anticipate that Charles Schwab will post 3.06 earnings per share for the current year.

Charles Schwab Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Friday, August 9th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.54%. The ex-dividend date was Friday, August 9th. Charles Schwab’s dividend payout ratio (DPR) is currently 41.84%.

Insiders Place Their Bets

In related news, Director Carolyn Schwab-Pomerantz sold 9,000 shares of Charles Schwab 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 transaction, the director now directly owns 567,057 shares in the company, valued at approximately $35,134,851.72. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Charles Schwab news, Director Carolyn Schwab-Pomerantz sold 9,000 shares of Charles Schwab stock in a transaction dated Friday, July 19th. The stock was sold at an average price of $61.96, for a total transaction of $557,640.00. Following the completion of the transaction, the director now owns 567,057 shares of the company’s stock, valued at $35,134,851.72. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, President Richard A. Wurster purchased 10,000 shares of the stock in a transaction dated Wednesday, July 17th. The stock was purchased at an average cost of $62.05 per share, for a total transaction of $620,500.00. Following the completion of the acquisition, the president now owns 144,228 shares of the company’s stock, valued at approximately $8,949,347.40. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders sold 99,636 shares of company stock worth $6,457,104 over the last quarter. 6.60% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of SCHW. Nelson Capital Management LLC raised its position in Charles Schwab by 0.4% during the first quarter. Nelson Capital Management LLC now owns 37,726 shares of the financial services provider’s stock valued at $2,729,000 after purchasing an additional 141 shares in the last quarter. Abbrea Capital LLC lifted its position in Charles Schwab by 2.5% in the 1st quarter. Abbrea Capital LLC now owns 5,777 shares of the financial services provider’s stock worth $418,000 after buying an additional 142 shares during the last quarter. Ironwood Financial llc boosted its stake in Charles Schwab by 1.6% in the first quarter. Ironwood Financial llc now owns 10,186 shares of the financial services provider’s stock worth $737,000 after buying an additional 160 shares in the last quarter. Ascent Wealth Partners LLC grew its position in Charles Schwab by 0.7% during the second quarter. Ascent Wealth Partners LLC now owns 23,361 shares of the financial services provider’s stock valued at $1,721,000 after acquiring an additional 164 shares during the last quarter. Finally, Sutton Place Investors LLC raised its stake in shares of Charles Schwab by 2.1% during the second quarter. Sutton Place Investors LLC now owns 8,086 shares of the financial services provider’s stock worth $596,000 after acquiring an additional 167 shares in the last quarter. Hedge funds and other institutional investors 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.