The Charles Schwab Corporation (SCHW) Cut to Buy at BidaskClub

BidaskClub downgraded shares of The Charles Schwab Corporation (NYSE:SCHW) from a strong-buy rating to a buy rating in a report issued on Tuesday, October 17th.

Several other analysts have also recently issued reports on the stock. Barclays PLC upped their price objective on shares of The Charles Schwab Corporation from $48.00 to $51.00 and gave the company an overweight rating in a research note on Tuesday, October 10th. Morgan Stanley upped their price objective on shares of The Charles Schwab Corporation from $51.00 to $53.00 and gave the company an overweight rating in a research note on Thursday, October 5th. Keefe, Bruyette & Woods reaffirmed a buy rating and set a $47.00 price objective on shares of The Charles Schwab Corporation in a research note on Friday, September 15th. Jefferies Group LLC reissued a buy rating and issued a $49.00 price target on shares of The Charles Schwab Corporation in a research note on Friday, September 15th. Finally, Nomura cut shares of The Charles Schwab Corporation from a buy rating to a neutral rating in a research note on Monday, July 24th. Six analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. The company currently has an average rating of Buy and an average price target of $47.07.

The Charles Schwab Corporation (SCHW) opened at 44.91 on Tuesday. The Charles Schwab Corporation has a 52-week low of $30.66 and a 52-week high of $46.21. The stock has a market cap of $60.13 billion, a price-to-earnings ratio of 28.61 and a beta of 1.68. The company has a 50-day moving average price of $42.83 and a 200 day moving average price of $41.30.

The Charles Schwab Corporation (NYSE:SCHW) last announced its quarterly earnings data on Wednesday, October 18th. The financial services provider reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.01. The Charles Schwab Corporation had a net margin of 27.30% and a return on equity of 16.07%. The company had revenue of $2.17 billion during the quarter, compared to analysts’ expectations of $2.18 billion. During the same quarter in the prior year, the company earned $0.35 EPS. The Charles Schwab Corporation’s revenue was up 13.1% compared to the same quarter last year. On average, analysts expect that The Charles Schwab Corporation will post $1.62 earnings per share for the current year.

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The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 24th. Stockholders of record on Friday, November 10th will be issued a $0.08 dividend. The ex-dividend date is Thursday, November 9th. This represents a $0.32 annualized dividend and a dividend yield of 0.71%. The Charles Schwab Corporation’s dividend payout ratio is currently 20.51%.

In other The Charles Schwab Corporation news, Chairman Charles R. Schwab sold 350,000 shares of the stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $43.10, for a total transaction of $15,085,000.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Chairman Charles R. Schwab sold 26,000 shares of the stock in a transaction that occurred on Monday, July 31st. The stock was sold at an average price of $42.80, for a total transaction of $1,112,800.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,067,798 shares of company stock worth $46,645,783. Company insiders own 12.00% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in the business. WealthTrust Arizona LLC lifted its holdings in The Charles Schwab Corporation by 1.2% during the 2nd quarter. WealthTrust Arizona LLC now owns 2,466 shares of the financial services provider’s stock worth $106,000 after buying an additional 29 shares in the last quarter. Lowe Brockenbrough & Co. Inc. lifted its holdings in The Charles Schwab Corporation by 0.9% during the 2nd quarter. Lowe Brockenbrough & Co. Inc. now owns 6,770 shares of the financial services provider’s stock worth $291,000 after buying an additional 62 shares in the last quarter. Norway Savings Bank lifted its holdings in The Charles Schwab Corporation by 0.7% during the 2nd quarter. Norway Savings Bank now owns 9,583 shares of the financial services provider’s stock worth $412,000 after buying an additional 63 shares in the last quarter. Atria Investments LLC lifted its holdings in The Charles Schwab Corporation by 0.4% during the 2nd quarter. Atria Investments LLC now owns 15,025 shares of the financial services provider’s stock worth $645,000 after buying an additional 65 shares in the last quarter. Finally, Guardian Life Insurance Co. of America lifted its holdings in The Charles Schwab Corporation by 1.5% during the 1st quarter. Guardian Life Insurance Co. of America now owns 4,692 shares of the financial services provider’s stock worth $191,000 after buying an additional 70 shares in the last quarter. Institutional investors own 79.46% of the company’s stock.

About The Charles Schwab Corporation

The Charles Schwab Corporation (CSC) is a savings and loan holding company. The Company, through its subsidiaries, engages in wealth management, securities brokerage, banking, money management and financial advisory services. The Company provides financial services to individuals and institutional clients through two segments: Investor Services and Advisor Services.

Analyst Recommendations for The Charles Schwab Corporation (NYSE:SCHW)

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