Charles Schwab (SCHW) Price Target Increased to $62.00 by Analysts at Credit Suisse Group

Charles Schwab (NYSE:SCHW) had its price target hoisted by equities researchers at Credit Suisse Group from $60.00 to $62.00 in a research note issued to investors on Tuesday. The brokerage presently has an “outperform” rating on the financial services provider’s stock. Credit Suisse Group’s target price would suggest a potential upside of 16.02% from the company’s previous close.

A number of other research analysts have also recently issued reports on SCHW. SunTrust Banks restated a “buy” rating and set a $63.00 price objective (up previously from $56.00) on shares of Charles Schwab in a report on Tuesday, December 26th. JMP Securities cut shares of Charles Schwab from an “outperform” rating to a “market perform” rating in a report on Wednesday, January 3rd. Wells Fargo reiterated a “market perform” rating and issued a $55.00 price target (up previously from $47.00) on shares of Charles Schwab in a report on Thursday, January 4th. Zacks Investment Research upgraded shares of Charles Schwab from a “hold” rating to a “strong-buy” rating and set a $60.00 price target for the company in a report on Friday, January 5th. Finally, Citigroup reiterated a “buy” rating and issued a $60.00 price target (up previously from $52.00) on shares of Charles Schwab in a report on Tuesday, January 9th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $54.67.

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NYSE SCHW traded up $0.36 during trading on Tuesday, reaching $53.44. 967,836 shares of the stock traded hands, compared to its average volume of 7,208,046. The stock has a market cap of $68,723.98, a P/E ratio of 32.55, a P/E/G ratio of 1.25 and a beta of 1.55. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.30 and a current ratio of 0.31. Charles Schwab has a fifty-two week low of $37.16 and a fifty-two week high of $58.11.

Charles Schwab (NYSE:SCHW) last issued its quarterly earnings data on Monday, April 16th. The financial services provider reported $0.55 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.54 by $0.01. The firm had revenue of $2.40 billion during the quarter, compared to analysts’ expectations of $2.38 billion. Charles Schwab had a net margin of 27.32% and a return on equity of 16.03%. The business’s revenue for the quarter was up 15.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.39 earnings per share. analysts predict that Charles Schwab will post 2.41 earnings per share for the current fiscal year.

In related news, EVP Terri R. Kallsen sold 2,026 shares of the stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $51.94, for a total transaction of $105,230.44. Following the completion of the transaction, the executive vice president now owns 1,706 shares in the company, valued at $88,609.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Jonathan M. Craig sold 2,629 shares of the stock in a transaction on Monday, April 16th. The stock was sold at an average price of $52.11, for a total transaction of $136,997.19. The disclosure for this sale can be found here. Insiders sold 922,854 shares of company stock valued at $50,376,971 in the last quarter. Corporate insiders own 11.50% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in SCHW. BlackRock Inc. boosted its holdings in Charles Schwab by 5.2% during the fourth quarter. BlackRock Inc. now owns 79,858,312 shares of the financial services provider’s stock worth $4,102,323,000 after purchasing an additional 3,943,376 shares during the last quarter. Maverick Capital Ltd. acquired a new position in Charles Schwab during the fourth quarter worth $161,834,000. Amundi Pioneer Asset Management Inc. boosted its holdings in Charles Schwab by 40.7% during the fourth quarter. Amundi Pioneer Asset Management Inc. now owns 6,879,265 shares of the financial services provider’s stock worth $353,386,000 after purchasing an additional 1,991,425 shares during the last quarter. Atlantic Trust Group LLC boosted its holdings in Charles Schwab by 851.8% during the third quarter. Atlantic Trust Group LLC now owns 1,492,315 shares of the financial services provider’s stock worth $65,274,000 after purchasing an additional 1,335,522 shares during the last quarter. Finally, WCM Investment Management CA raised its position in Charles Schwab by 124.8% during the fourth quarter. WCM Investment Management CA now owns 2,207,060 shares of the financial services provider’s stock worth $113,378,000 after acquiring an additional 1,225,146 shares in the last quarter. Institutional investors and hedge funds own 80.58% of the company’s stock.

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About Charles Schwab

The Charles Schwab Corporation, through its subsidiaries, provides wealth management, securities brokerage, banking, asset management, custody, and financial advisory services. The company operates through two segments, Investor Services and Advisor Services. The Investor Services segment provides retail brokerage and banking services, retirement plan services, and other corporate brokerage services; equity compensation plan sponsors full-service recordkeeping for stock plans, stock options, restricted stock, performance shares, and stock appreciation rights; and retail investor, retirement plan, and mutual fund clearing services.

Analyst Recommendations for Charles Schwab (NYSE:SCHW)

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