Charles Schwab (NYSE:SCHW) Upgraded at UBS Group

UBS Group upgraded shares of Charles Schwab (NYSE:SCHWGet Rating) from a neutral rating to a buy rating in a report issued on Tuesday, Marketbeat.com reports. The brokerage currently has $75.00 target price on the financial services provider’s stock, up from their previous target price of $68.00.

Several other research firms have also recently commented on SCHW. Compass Point upgraded Charles Schwab from a neutral rating to a buy rating and set a $98.00 target price on the stock in a research report on Tuesday, April 12th. Deutsche Bank Aktiengesellschaft lowered their target price on Charles Schwab from $98.00 to $84.00 in a research report on Thursday, May 19th. Piper Sandler lowered their target price on Charles Schwab from $110.00 to $100.00 and set an overweight rating on the stock in a research report on Friday, April 22nd. The Goldman Sachs Group initiated coverage on Charles Schwab in a research report on Tuesday, April 26th. They issued a neutral rating and a $75.00 target price on the stock. Finally, Citigroup raised their target price on Charles Schwab from $87.50 to $90.00 and gave the company a buy rating in a research report on Friday, April 22nd. Four investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, Charles Schwab presently has an average rating of Moderate Buy and a consensus target price of $93.21.

Shares of Charles Schwab stock opened at $62.03 on Tuesday. The company has a current ratio of 0.44, a quick ratio of 0.44 and a debt-to-equity ratio of 0.58. The business’s 50 day simple moving average is $67.02 and its 200-day simple moving average is $79.65. The stock has a market capitalization of $112.71 billion, a price-to-earnings ratio of 22.47, a PEG ratio of 0.71 and a beta of 1.09. Charles Schwab has a twelve month low of $59.35 and a twelve month high of $96.24.

Charles Schwab (NYSE:SCHWGet Rating) last announced its quarterly earnings results on Monday, April 18th. The financial services provider reported $0.77 earnings per share for the quarter, missing analysts’ consensus estimates of $0.85 by ($0.08). The company had revenue of $4.67 billion for the quarter, compared to analyst estimates of $4.82 billion. Charles Schwab had a return on equity of 14.42% and a net margin of 31.24%. The firm’s revenue for the quarter was down .9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.84 earnings per share. Sell-side analysts predict that Charles Schwab will post 3.88 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, May 27th. Stockholders of record on Friday, May 13th were given a $0.20 dividend. The ex-dividend date of this dividend was Thursday, May 12th. This represents a $0.80 annualized dividend and a dividend yield of 1.29%. Charles Schwab’s dividend payout ratio (DPR) is presently 28.99%.

In related news, EVP Jonathan M. Craig sold 4,016 shares of the stock in a transaction on Thursday, April 7th. The stock was sold at an average price of $80.02, for a total transaction of $321,360.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Walter W. Bettinger bought 36,640 shares of the business’s stock in a transaction on Monday, April 25th. The shares were bought at an average price of $69.49 per share, for a total transaction of $2,546,113.60. Following the completion of the acquisition, the chief executive officer now owns 329,265 shares of the company’s stock, valued at $22,880,624.85. The disclosure for this purchase can be found here. In the last ninety days, insiders bought 104,169 shares of company stock valued at $7,081,708. 7.50% of the stock is currently owned by insiders.

Hedge funds have recently added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC acquired a new stake in Charles Schwab during the fourth quarter worth about $139,544,000. Boyar Asset Management Inc. boosted its holdings in Charles Schwab by 6.0% during the fourth quarter. Boyar Asset Management Inc. now owns 3,550 shares of the financial services provider’s stock valued at $299,000 after purchasing an additional 200 shares in the last quarter. Quent Capital LLC acquired a new position in shares of Charles Schwab in the 4th quarter worth approximately $61,000. O Shaughnessy Asset Management LLC boosted its holdings in shares of Charles Schwab by 35.1% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 19,242 shares of the financial services provider’s stock worth $1,618,000 after acquiring an additional 5,000 shares in the last quarter. Finally, RDA Financial Network acquired a new position in shares of Charles Schwab in the 1st quarter worth approximately $357,000. 87.13% of the stock is currently owned by institutional investors and hedge funds.

About Charles Schwab (Get Rating)

The Charles Schwab Corporation, together with its subsidiaries, provides wealth management, securities brokerage, banking, asset management, custody, and financial advisory services. The company operates in two segments, Investor Services and Advisor Services. The Investor Services segment provides retail brokerage, investment advisory, banking and trust, retirement plan, 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 and mutual fund clearing services, as well as compliance solutions.

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