Charles Schwab (NYSE:SCHW) had its target price lifted by Citigroup from $37.00 to $40.00 in a research note published on Wednesday morning, BenzingaRatingsTable reports. Citigroup currently has a neutral rating on the financial services provider’s stock.
Several other brokerages have also weighed in on SCHW. Wolfe Research raised shares of Charles Schwab from a peer perform rating to an outperform rating and raised their price objective for the company from $42.00 to $46.00 in a research report on Tuesday, September 3rd. Credit Suisse Group cut their price objective on shares of Charles Schwab from $55.00 to $49.00 and set an outperform rating on the stock in a research report on Tuesday, October 1st. Deutsche Bank cut their price objective on shares of Charles Schwab from $37.00 to $34.00 and set a hold rating on the stock in a research report on Wednesday, October 2nd. Wells Fargo & Co reaffirmed a hold rating on shares of Charles Schwab in a research report on Tuesday. Finally, ValuEngine raised shares of Charles Schwab from a sell rating to a hold rating in a research report on Wednesday, September 4th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have given a buy rating to the company. The stock presently has an average rating of Hold and a consensus target price of $44.15.
SCHW traded up $0.49 during midday trading on Wednesday, hitting $39.94. 7,393,407 shares of the company’s stock traded hands, compared to its average volume of 12,458,346. The company has a market cap of $51.57 billion, a PE ratio of 16.30, a price-to-earnings-growth ratio of 2.51 and a beta of 1.32. The stock’s fifty day simple moving average is $39.66 and its 200-day simple moving average is $41.50. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.31 and a quick ratio of 0.31. Charles Schwab has a one year low of $34.58 and a one year high of $49.24.
Charles Schwab (NYSE:SCHW) last issued its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.05. The firm had revenue of $2.71 billion for the quarter, compared to analyst estimates of $2.65 billion. Charles Schwab had a net margin of 35.12% and a return on equity of 20.85%. The company’s revenue for the quarter was up 5.1% on a year-over-year basis. During the same quarter last year, the firm earned $0.65 earnings per share. On average, research analysts expect that Charles Schwab will post 2.7 EPS for the current year.
In other news, EVP Jonathan M. Craig sold 3,740 shares of Charles Schwab stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $38.97, for a total value of $145,747.80. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Chairman Charles R. Schwab sold 105,422 shares of the firm’s stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $42.03, for a total transaction of $4,430,886.66. The disclosure for this sale can be found here. In the last three months, insiders sold 219,677 shares of company stock worth $8,993,241. Insiders own 10.90% of the company’s stock.
Several institutional investors have recently made changes to their positions in the company. Whittier Trust Co. grew its stake in shares of Charles Schwab by 2.9% in the third quarter. Whittier Trust Co. now owns 232,721 shares of the financial services provider’s stock worth $9,732,000 after acquiring an additional 6,654 shares during the last quarter. Stephens Inc. AR grew its stake in shares of Charles Schwab by 16.5% in the third quarter. Stephens Inc. AR now owns 27,359 shares of the financial services provider’s stock worth $1,144,000 after acquiring an additional 3,877 shares during the last quarter. Whittier Trust Co. of Nevada Inc. grew its stake in shares of Charles Schwab by 3.1% in the third quarter. Whittier Trust Co. of Nevada Inc. now owns 88,362 shares of the financial services provider’s stock worth $3,696,000 after acquiring an additional 2,676 shares during the last quarter. Garrett Wealth Advisory Group LLC acquired a new stake in shares of Charles Schwab in the third quarter worth $115,000. Finally, Alpha Cubed Investments LLC acquired a new stake in shares of Charles Schwab in the third quarter worth $289,000. Institutional investors and hedge funds own 79.07% of the company’s stock.
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.
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