Charles Schwab (NYSE:SCHW) Trading 3.3% Higher After Analyst Upgrade

Shares of The Charles Schwab Co. (NYSE:SCHW) were up 3.3% on Monday after Piper Sandler raised their price target on the stock from $75.00 to $78.00. Piper Sandler currently has an overweight rating on the stock. Charles Schwab traded as high as $73.65 and last traded at $72.36. Approximately 5,105,775 shares changed hands during trading, a decline of 32% from the average daily volume of 7,525,560 shares. The stock had previously closed at $70.03.

Several other research analysts have also weighed in on SCHW. The Goldman Sachs Group reiterated a “neutral” rating and set a $71.00 price objective (up from $70.00) on shares of Charles Schwab in a report on Wednesday, January 3rd. JMP Securities raised their price target on shares of Charles Schwab from $77.00 to $80.00 and gave the company a “market outperform” rating in a report on Tuesday, April 9th. Barclays raised their price target on shares of Charles Schwab from $68.00 to $74.00 and gave the company an “equal weight” rating in a report on Monday, April 8th. TD Cowen upgraded shares of Charles Schwab from a “market perform” rating to an “outperform” rating and set a $87.00 price target on the stock in a report on Friday, March 22nd. Finally, Deutsche Bank Aktiengesellschaft raised their price target on shares of Charles Schwab from $75.00 to $77.00 and gave the company a “buy” rating in a report on Tuesday, March 19th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $72.53.

Insider Buying and Selling at Charles Schwab

In related news, CFO Peter B. Crawford sold 4,000 shares of Charles Schwab stock in a transaction on Monday, January 22nd. The shares were sold at an average price of $64.49, for a total value of $257,960.00. Following the completion of the sale, the chief financial officer now owns 37,611 shares in the company, valued at $2,425,533.39. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, CFO Peter B. Crawford sold 4,000 shares of Charles Schwab stock in a transaction on Monday, January 22nd. The shares were sold at an average price of $64.49, for a total value of $257,960.00. Following the completion of the sale, the chief financial officer now owns 37,611 shares in the company, valued at $2,425,533.39. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Chairman Charles R. Schwab sold 16,390 shares of Charles Schwab stock in a transaction on Wednesday, January 24th. The stock was sold at an average price of $63.94, for a total transaction of $1,047,976.60. Following the completion of the sale, the chairman now owns 61,331,688 shares of the company’s stock, valued at approximately $3,921,548,130.72. The disclosure for this sale can be found here. Insiders sold 216,584 shares of company stock valued at $14,200,769 over the last 90 days. 6.60% of the stock is owned by corporate insiders.

Institutional Trading of Charles Schwab

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Signet Financial Management LLC increased its holdings in Charles Schwab by 0.3% in the fourth quarter. Signet Financial Management LLC now owns 49,378 shares of the financial services provider’s stock worth $4,111,000 after buying an additional 139 shares during the last quarter. Courier Capital LLC increased its holdings in Charles Schwab by 0.4% in the fourth quarter. Courier Capital LLC now owns 45,539 shares of the financial services provider’s stock worth $3,133,000 after buying an additional 161 shares during the last quarter. Investment Advisory Services Inc. TX ADV increased its holdings in Charles Schwab by 0.5% in the fourth quarter. Investment Advisory Services Inc. TX ADV now owns 32,642 shares of the financial services provider’s stock worth $2,718,000 after buying an additional 164 shares during the last quarter. Sugarloaf Wealth Management LLC increased its holdings in Charles Schwab by 60.0% in the fourth quarter. Sugarloaf Wealth Management LLC now owns 440 shares of the financial services provider’s stock worth $30,000 after buying an additional 165 shares during the last quarter. Finally, Sculati Wealth Management LLC increased its holdings in Charles Schwab by 0.4% in the fourth quarter. Sculati Wealth Management LLC now owns 42,971 shares of the financial services provider’s stock worth $2,956,000 after buying an additional 165 shares during the last quarter. Institutional investors own 84.38% of the company’s stock.

Charles Schwab Stock Up 1.8 %

The business has a fifty day moving average of $67.74 and a 200 day moving average of $62.62. The stock has a market cap of $126.56 billion, a price-to-earnings ratio of 28.06, a P/E/G ratio of 1.06 and a beta of 1.01. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.43 and a quick ratio of 0.43.

Charles Schwab (NYSE:SCHW) last released its quarterly earnings data on Wednesday, January 17th. The financial services provider reported $0.68 EPS for the quarter, topping analysts’ consensus estimates of $0.64 by $0.04. Charles Schwab had a return on equity of 21.33% and a net margin of 26.90%. The firm had revenue of $4.46 billion for the quarter, compared to the consensus estimate of $4.49 billion. During the same quarter in the prior year, the company posted $1.07 earnings per share. The firm’s revenue was down 18.9% on a year-over-year basis. On average, equities analysts predict that The Charles Schwab Co. will post 3.4 earnings per share for the current year.

Charles Schwab Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 23rd. Shareholders of record on Friday, February 9th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, February 8th. This represents a $1.00 dividend on an annualized basis and a yield of 1.40%. Charles Schwab’s payout ratio is currently 39.37%.

Charles Schwab Company Profile

The Charles Schwab Corporation, together with its subsidiaries, operates as a savings and loan holding company that provides wealth management, securities brokerage, banking, asset management, custody, and financial advisory services in the United States and internationally. The company operates in two segments, Investor Services and Advisor Services.