Charles Schwab (NYSE:SCHW) Price Target Raised to $76.00

Charles Schwab (NYSE:SCHW) had its price target upped by Keefe, Bruyette & Woods from $75.00 to $76.00 in a research note published on Tuesday, Benzinga reports. They currently have a market perform rating on the financial services provider’s stock.

SCHW has been the topic of several other research reports. Raymond James reduced their price target on shares of Charles Schwab from $78.00 to $75.00 and set an outperform rating on the stock in a research report on Thursday, January 18th. Citigroup upped their price target on Charles Schwab from $70.00 to $75.00 and gave the company a neutral rating in a research note on Thursday, April 11th. Bank of America raised their price objective on Charles Schwab from $68.00 to $70.00 and gave the stock an underperform rating in a research report on Tuesday. JPMorgan Chase & Co. upped their target price on shares of Charles Schwab from $86.00 to $89.00 and gave the company an overweight rating in a research report on Tuesday. Finally, TD Cowen upgraded shares of Charles Schwab from a market perform rating to an outperform rating and set a $87.00 price target for the company in a research report on Friday, March 22nd. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of Hold and an average target price of $74.47.

Charles Schwab Stock Up 2.6 %

Shares of SCHW opened at $73.05 on Tuesday. Charles Schwab has a 52-week low of $45.65 and a 52-week high of $73.65. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.82. The stock has a fifty day simple moving average of $67.97 and a two-hundred day simple moving average of $62.75. The company has a market capitalization of $129.74 billion, a PE ratio of 28.76, a price-to-earnings-growth ratio of 1.06 and a beta of 1.01.

Charles Schwab (NYSE:SCHW) last released its quarterly earnings data on Wednesday, January 17th. The financial services provider reported $0.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.04. Charles Schwab had a net margin of 26.90% and a return on equity of 21.33%. The firm had revenue of $4.46 billion during the quarter, compared to analysts’ expectations of $4.49 billion. During the same period last year, the business earned $1.07 earnings per share. Charles Schwab’s revenue was down 18.9% compared to the same quarter last year. As a group, equities analysts forecast that Charles Schwab will post 3.4 EPS for the current year.

Charles Schwab Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 23rd. Stockholders of record on Friday, February 9th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.37%. The ex-dividend date of this dividend was Thursday, February 8th. Charles Schwab’s payout ratio is 39.37%.

Insider Activity

In related news, insider Nigel J. Murtagh sold 29,991 shares of Charles Schwab stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $67.80, for a total value of $2,033,389.80. Following the completion of the transaction, the insider now owns 81,446 shares in the company, valued at $5,522,038.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CFO Peter B. Crawford sold 4,000 shares of Charles Schwab stock in a transaction that occurred 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 transaction, 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 Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Nigel J. Murtagh sold 29,991 shares of Charles Schwab stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $67.80, for a total transaction of $2,033,389.80. Following the completion of the transaction, the insider now owns 81,446 shares of the company’s stock, valued at approximately $5,522,038.80. The disclosure for this sale can be found here. Over the last quarter, insiders sold 216,584 shares of company stock valued at $14,200,769. 6.60% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Signet Financial Management LLC lifted its stake 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 acquiring an additional 139 shares during the last quarter. Courier Capital LLC raised its holdings in Charles Schwab by 0.4% during the fourth quarter. Courier Capital LLC now owns 45,539 shares of the financial services provider’s stock worth $3,133,000 after purchasing an additional 161 shares in the last quarter. Investment Advisory Services Inc. TX ADV raised its holdings in Charles Schwab by 0.5% during 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 purchasing an additional 164 shares in the last quarter. Sugarloaf Wealth Management LLC raised its holdings in Charles Schwab by 60.0% during the fourth quarter. Sugarloaf Wealth Management LLC now owns 440 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 165 shares in the last quarter. Finally, Sculati Wealth Management LLC raised its holdings in Charles Schwab by 0.4% during the fourth quarter. Sculati Wealth Management LLC now owns 42,971 shares of the financial services provider’s stock worth $2,956,000 after purchasing an additional 165 shares in the last quarter. Hedge funds and other institutional investors own 84.38% of the company’s stock.

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.