Charles Schwab (NYSE:SCHW) Price Target Cut to $60.00 by Analysts at Bank of America

Charles Schwab (NYSE:SCHW – Get Rating) had its target price lowered by Bank of America from $74.00 to $60.00 in a research note published on Monday morning, The Fly reports.

Several other equities analysts also recently issued reports on the company. Citigroup raised Charles Schwab from a neutral rating to a buy rating and cut their target price for the company from $83.00 to $75.00 in a research report on Monday. Morgan Stanley cut their target price on Charles Schwab from $104.00 to $99.00 and set an overweight rating on the stock in a research report on Monday, January 30th. Credit Suisse Group cut their target price on Charles Schwab from $87.00 to $81.50 and set a neutral rating on the stock in a research report on Monday, January 30th. The Goldman Sachs Group raised Charles Schwab from a neutral rating to a buy rating and set a $98.00 price target on the stock in a research report on Wednesday, January 4th. Finally, Barclays cut their price target on Charles Schwab from $87.00 to $79.00 and set an equal weight rating on the stock in a research report on Monday, January 30th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, Charles Schwab presently has a consensus rating of Moderate Buy and an average target price of $90.12.

Charles Schwab Stock Performance

Shares of SCHW opened at $51.91 on Monday. Charles Schwab has a 12 month low of $45.00 and a 12 month high of $93.16. The stock has a fifty day moving average price of $78.52 and a 200-day moving average price of $77.04. The company has a current ratio of 0.38, a quick ratio of 0.38 and a debt-to-equity ratio of 0.77. The firm has a market cap of $92.99 billion, a PE ratio of 14.83, a P/E/G ratio of 0.91 and a beta of 0.93.

Charles Schwab (NYSE:SCHW – Get Rating) last released its earnings results on Wednesday, January 18th. The financial services provider reported $1.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.10 by ($0.03). Charles Schwab had a net margin of 34.60% and a return on equity of 24.94%. The firm had revenue of $5.50 billion during the quarter, compared to analyst estimates of $5.55 billion. During the same period in the previous year, the company earned $0.86 earnings per share. Charles Schwab’s revenue was up 16.8% on a year-over-year basis. Equities research analysts predict that Charles Schwab will post 4.35 earnings per share for the current fiscal year.

Charles Schwab Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 24th. Stockholders of record on Friday, February 10th were given a dividend of $0.25 per share. The ex-dividend date was Thursday, February 9th. This is a boost from Charles Schwab’s previous quarterly dividend of $0.22. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.93%. Charles Schwab’s dividend payout ratio (DPR) is 28.57%.

Insider Activity

In related news, insider Jonathan M. Craig sold 34,667 shares of the firm’s stock in a transaction dated Monday, March 6th. The shares were sold at an average price of $76.33, for a total value of $2,646,132.11. Following the transaction, the insider now directly owns 11,159 shares of the company’s stock, valued at approximately $851,766.47. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, insider Jonathan M. Craig sold 34,667 shares of the firm’s stock in a transaction dated Monday, March 6th. The shares were sold at an average price of $76.33, for a total value of $2,646,132.11. Following the transaction, the insider now directly owns 11,159 shares of the company’s stock, valued at approximately $851,766.47. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Nigel J. Murtagh sold 10,796 shares of the firm’s stock in a transaction dated Friday, February 24th. The shares were sold at an average price of $80.23, for a total transaction of $866,163.08. Following the completion of the transaction, the insider now directly owns 57,322 shares in the company, valued at $4,598,944.06. The disclosure for this sale can be found here. Insiders have sold 728,106 shares of company stock worth $58,067,403 in the last ninety days. Company insiders own 6.90% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. United Capital Financial Advisers LLC lifted its stake in Charles Schwab by 12.4% in the 2nd quarter. United Capital Financial Advisers LLC now owns 16,222 shares of the financial services provider’s stock worth $1,025,000 after purchasing an additional 1,793 shares in the last quarter. Prime Capital Investment Advisors LLC purchased a new position in Charles Schwab in the 3rd quarter worth approximately $233,000. Condor Capital Management lifted its stake in Charles Schwab by 0.5% in the 3rd quarter. Condor Capital Management now owns 52,887 shares of the financial services provider’s stock worth $3,801,000 after purchasing an additional 241 shares in the last quarter. Hanson & Doremus Investment Management lifted its stake in Charles Schwab by 3.1% in the 3rd quarter. Hanson & Doremus Investment Management now owns 111,546 shares of the financial services provider’s stock worth $8,017,000 after purchasing an additional 3,329 shares in the last quarter. Finally, Coronation Fund Managers Ltd. lifted its stake in Charles Schwab by 28.8% in the 3rd quarter. Coronation Fund Managers Ltd. now owns 673,930 shares of the financial services provider’s stock worth $48,435,000 after purchasing an additional 150,710 shares in the last quarter. 73.49% of the stock is owned by hedge funds and other institutional investors.

Charles Schwab Company Profile

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The Charles Schwab Corp. is a savings and loan holding company, which engages in the provision of wealth management, securities brokerage, banking, asset management, custody, and financial advisory services. It operates through the Investor Services and Advisor Services segments. The Investor Services segment includes retail brokerage and banking services to individual investors, and retirement plan services, as well as other corporate brokerage services, to businesses and their employees.