Wells Fargo & Company Cuts Charles Schwab (NYSE:SCHW) Price Target to $89.00

Charles Schwab (NYSE:SCHW) had its price objective cut by analysts at Wells Fargo & Company from $90.00 to $89.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage currently has an “equal weight” rating on the financial services provider’s stock. Wells Fargo & Company‘s price objective suggests a potential upside of 20.68% from the company’s previous close.

A number of other analysts have also commented on the company. Keefe, Bruyette & Woods boosted their target price on Charles Schwab from $81.00 to $93.00 and gave the company an “outperform” rating in a research report on Friday, December 20th. StockNews.com upgraded Charles Schwab from a “sell” rating to a “hold” rating in a report on Wednesday, October 16th. Jefferies Financial Group increased their target price on Charles Schwab from $84.00 to $94.00 and gave the stock a “buy” rating in a report on Monday, December 9th. JPMorgan Chase & Co. boosted their price target on shares of Charles Schwab from $87.00 to $93.00 and gave the company an “overweight” rating in a research note on Tuesday, January 7th. Finally, Truist Financial upgraded shares of Charles Schwab to a “strong-buy” rating in a report on Monday, January 6th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $81.63.

Charles Schwab Stock Performance

Shares of SCHW stock opened at $73.75 on Tuesday. The firm has a 50 day moving average of $77.62 and a 200-day moving average of $70.58. The company has a market cap of $131.25 billion, a price-to-earnings ratio of 28.81, a price-to-earnings-growth ratio of 1.76 and a beta of 0.99. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 0.59. Charles Schwab has a 52 week low of $59.67 and a 52 week high of $83.35.

Charles Schwab (NYSE:SCHW) last posted its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $0.77 EPS for the quarter, topping analysts’ consensus estimates of $0.75 by $0.02. Charles Schwab had a net margin of 27.47% and a return on equity of 16.92%. The business had revenue of $4.85 billion during the quarter, compared to analysts’ expectations of $4.78 billion. During the same period last year, the company posted $0.77 earnings per share. The business’s quarterly revenue was up 5.2% on a year-over-year basis. On average, equities analysts forecast that Charles Schwab will post 3.12 earnings per share for the current year.

Insider Buying and Selling

In other Charles Schwab news, insider Nigel J. Murtagh sold 12,739 shares of the stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $81.17, for a total transaction of $1,034,024.63. Following the completion of the transaction, the insider now directly owns 59,092 shares of the company’s stock, valued at approximately $4,796,497.64. This represents a 17.73 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jonathan S. Beatty sold 2,500 shares of the firm’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $77.02, for a total value of $192,550.00. Following the completion of the sale, the insider now directly owns 18,069 shares of the company’s stock, valued at $1,391,674.38. This represents a 12.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 26,823 shares of company stock valued at $2,171,194. 6.60% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in SCHW. HF Advisory Group LLC raised its stake in Charles Schwab by 1.3% in the 4th quarter. HF Advisory Group LLC now owns 37,869 shares of the financial services provider’s stock valued at $2,803,000 after acquiring an additional 492 shares during the period. Aaron Wealth Advisors LLC raised its position in shares of Charles Schwab by 13.9% in the fourth quarter. Aaron Wealth Advisors LLC now owns 17,151 shares of the financial services provider’s stock valued at $1,269,000 after purchasing an additional 2,096 shares during the period. Moss Adams Wealth Advisors LLC purchased a new stake in shares of Charles Schwab during the 4th quarter valued at approximately $252,000. Krilogy Financial LLC boosted its holdings in Charles Schwab by 1.9% in the 4th quarter. Krilogy Financial LLC now owns 19,281 shares of the financial services provider’s stock worth $1,427,000 after buying an additional 364 shares during the period. Finally, Ameritas Advisory Services LLC purchased a new position in Charles Schwab in the 4th quarter valued at approximately $422,000. 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.