Charles Schwab (NYSE:SCHW) Price Target Lowered to $97.00 at Citigroup

Charles Schwab (NYSE:SCHWGet Rating) had its target price lowered by equities research analysts at Citigroup from $99.00 to $97.00 in a research note issued on Thursday, April 14th, The Fly reports. The firm currently has a “buy” rating on the financial services provider’s stock. Citigroup’s target price indicates a potential upside of 39.81% from the company’s previous close.

Other analysts also recently issued research reports about the company. Argus boosted their price target on Charles Schwab from $90.00 to $100.00 and gave the company a “buy” rating in a research note on Friday, January 21st. Compass Point upgraded Charles Schwab from a “neutral” rating to a “buy” rating and set a $98.00 price target for the company in a research report on Tuesday, April 12th. Morgan Stanley upped their price target on Charles Schwab from $130.00 to $132.00 and gave the company an “overweight” rating in a research report on Tuesday, February 1st. UBS Group increased their price objective on Charles Schwab from $83.00 to $90.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 4th. Finally, Zacks Investment Research lowered Charles Schwab from a “buy” rating to a “hold” rating and set a $91.00 price target for the company. in a research report on Monday, February 21st. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $94.25.

NYSE SCHW traded down $1.98 during trading on Thursday, hitting $69.38. 53,374 shares of the stock traded hands, compared to its average volume of 9,578,153. The company has a market capitalization of $125.99 billion, a P/E ratio of 25.86, a price-to-earnings-growth ratio of 0.77 and a beta of 1.09. The firm has a 50-day simple moving average of $80.81 and a 200-day simple moving average of $83.70. The company has a quick ratio of 0.41, a current ratio of 0.41 and a debt-to-equity ratio of 0.41. Charles Schwab has a 12-month low of $65.73 and a 12-month high of $96.24.

Charles Schwab (NYSE:SCHWGet Rating) last announced its earnings results on Monday, April 18th. The financial services provider reported $0.77 EPS for the quarter, missing the Zacks’ consensus estimate of $0.84 by ($0.07). Charles Schwab had a return on equity of 13.67% and a net margin of 31.24%. The company had revenue of $4.67 billion during the quarter, compared to analysts’ expectations of $4.82 billion. During the same quarter last year, the firm posted $0.84 EPS. Charles Schwab’s revenue for the quarter was down .9% compared to the same quarter last year. As a group, research analysts predict that Charles Schwab will post 3.88 EPS for the current fiscal year.

In other Charles Schwab news, Chairman Charles R. Schwab sold 119,280 shares of the business’s stock in a transaction dated Monday, February 7th. The shares were sold at an average price of $92.59, for a total value of $11,044,135.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Peter B. Crawford sold 7,500 shares of the business’s stock in a transaction dated Monday, February 7th. The stock was sold at an average price of $93.11, for a total transaction of $698,325.00. The disclosure for this sale can be found here. Over the last three months, insiders have purchased 104,169 shares of company stock valued at $7,081,708 and have sold 445,686 shares valued at $40,031,933. Company insiders own 7.50% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Norges Bank bought a new stake in shares of Charles Schwab in the fourth quarter worth $1,127,795,000. Egerton Capital UK LLP lifted its position in shares of Charles Schwab by 126.2% in the third quarter. Egerton Capital UK LLP now owns 14,264,290 shares of the financial services provider’s stock worth $1,039,011,000 after purchasing an additional 7,959,247 shares in the last quarter. Baillie Gifford & Co. bought a new stake in Charles Schwab during the fourth quarter worth $631,278,000. DSM Capital Partners LLC bought a new stake in Charles Schwab during the third quarter worth $435,461,000. Finally, State Street Corp raised its position in Charles Schwab by 6.6% during the fourth quarter. State Street Corp now owns 69,667,441 shares of the financial services provider’s stock worth $5,859,032,000 after acquiring an additional 4,305,161 shares in the last quarter. Hedge funds and other institutional investors own 87.13% of the company’s stock.

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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