Charles Schwab (NYSE:SCHW) Price Target Raised to $89.00

Charles Schwab (NYSE:SCHW) had its price target lifted by JPMorgan Chase & Co. from $86.00 to $89.00 in a research note published on Tuesday, Benzinga reports. The firm currently has an overweight rating on the financial services provider’s stock.

SCHW has been the subject of a number of other reports. Keefe, Bruyette & Woods lowered Charles Schwab from an outperform rating to a market perform rating and decreased their target price for the company from $75.00 to $70.00 in a report on Thursday, January 18th. Barclays lifted their target price on Charles Schwab from $74.00 to $75.00 and gave the stock an equal weight rating in a research report on Tuesday. Deutsche Bank Aktiengesellschaft lifted their target price on Charles Schwab from $75.00 to $77.00 and gave the stock a buy rating in a research report on Tuesday, March 19th. Raymond James cut their target price on Charles Schwab from $78.00 to $75.00 and set an outperform rating on the stock in a research report on Thursday, January 18th. Finally, Bank of America lifted their target price on Charles Schwab from $68.00 to $70.00 and gave the stock an underperform rating in a research report on Tuesday. Three research analysts have rated the stock with a sell rating, six have given a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of Hold and a consensus target price of $74.47.

Charles Schwab Trading Up 2.6 %

Shares of Charles Schwab stock opened at $73.05 on Tuesday. Charles Schwab has a fifty-two week low of $45.65 and a fifty-two week high of $73.65. The stock has a 50 day moving average of $67.97 and a 200 day moving average of $62.75. The firm has a market capitalization of $129.74 billion, a price-to-earnings ratio of 28.76, a PEG ratio of 1.06 and a beta of 1.01. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.43 and a current ratio of 0.43.

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

Charles Schwab Announces Dividend

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

Insider Transactions at Charles Schwab

In other news, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $65.29, for a total transaction of $587,610.00. Following the sale, the director now owns 585,057 shares of the company’s stock, valued at approximately $38,198,371.53. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $65.29, for a total transaction of $587,610.00. Following the sale, the director now owns 585,057 shares of the company’s stock, valued at approximately $38,198,371.53. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Peter B. Crawford sold 4,000 shares of the business’s stock in a transaction that occurred on Monday, January 22nd. The stock was sold at an average price of $64.49, for a total value of $257,960.00. Following the sale, the chief financial officer now directly owns 37,611 shares in the company, valued at approximately $2,425,533.39. The disclosure for this sale can be found here. Insiders have sold 216,584 shares of company stock valued at $14,200,769 in the last quarter. 6.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of SCHW. Price T Rowe Associates Inc. MD raised its position in shares of Charles Schwab by 33.4% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 69,360,233 shares of the financial services provider’s stock worth $4,771,985,000 after purchasing an additional 17,369,091 shares during the last quarter. Norges Bank acquired a new position in shares of Charles Schwab during the 4th quarter worth approximately $1,325,555,000. Morgan Stanley raised its position in shares of Charles Schwab by 62.5% during the 4th quarter. Morgan Stanley now owns 22,255,649 shares of the financial services provider’s stock worth $1,853,005,000 after purchasing an additional 8,563,389 shares during the last quarter. Dodge & Cox raised its position in shares of Charles Schwab by 10.5% during the 4th quarter. Dodge & Cox now owns 86,421,986 shares of the financial services provider’s stock worth $5,945,833,000 after purchasing an additional 8,182,467 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA raised its position in shares of Charles Schwab by 26.3% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 29,775,952 shares of the financial services provider’s stock worth $1,634,700,000 after purchasing an additional 6,195,934 shares during the last quarter. 84.38% of the stock is currently owned by institutional investors and hedge funds.

About Charles Schwab

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.