Charles Schwab (NYSE:SCHW) Price Target Raised to $80.00

Charles Schwab (NYSE:SCHW) had its price target raised by Piper Sandler from $74.00 to $80.00 in a research note released on Thursday.

SCHW has been the topic of several other reports. Citigroup upgraded shares of Charles Schwab from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $85.00 to $102.00 in a research report on Wednesday, April 2nd. TD Cowen upgraded shares of Charles Schwab from a “hold” rating to a “buy” rating and lifted their price target for the stock from $88.00 to $103.00 in a report on Tuesday, February 18th. Deutsche Bank Aktiengesellschaft increased their price objective on Charles Schwab from $98.00 to $105.00 and gave the company a “buy” rating in a report on Wednesday, January 22nd. JPMorgan Chase & Co. reaffirmed an “outperform” rating and set a $92.00 target price on shares of Charles Schwab in a report on Wednesday. JPMorgan analyst Kenneth Worthington reiterated an Overweight rating and $92 target. Ahead of earnings, he highlighted Schwab’s earnings model and positive impact of rising cash allocations. Finally, Morgan Stanley raised Charles Schwab from an “equal weight” rating to an “overweight” rating and set a $76.00 price target for the company in a research note on Tuesday, April 8th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $85.44.

Charles Schwab Stock Performance

Shares of Charles Schwab stock opened at $76.52 on Thursday. The company’s 50 day moving average price is $77.16 and its two-hundred day moving average price is $76.58. The firm has a market capitalization of $138.77 billion, a P/E ratio of 25.59, a P/E/G ratio of 0.99 and a beta of 0.91. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.47 and a quick ratio of 0.47. Charles Schwab has a fifty-two week low of $61.01 and a fifty-two week high of $84.50.

Charles Schwab (NYSE:SCHW) last issued its quarterly earnings data on Thursday, April 17th. The financial services provider reported $1.04 earnings per share for the quarter, topping analysts’ consensus estimates of $1.01 by $0.03. The business had revenue of $5.60 billion for the quarter, compared to analyst estimates of $5.46 billion. Charles Schwab had a return on equity of 18.20% and a net margin of 30.31%. During the same quarter in the previous year, the company posted $0.74 EPS. On average, equities analysts forecast that Charles Schwab will post 4.22 earnings per share for the current fiscal year.

Charles Schwab Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 14th were paid a dividend of $0.27 per share. The ex-dividend date was Friday, February 14th. This is a positive change from Charles Schwab’s previous quarterly dividend of $0.25. This represents a $1.08 annualized dividend and a yield of 1.41%. Charles Schwab’s dividend payout ratio is currently 36.12%.

Insiders Place Their Bets

In related news, Director Arun Sarin sold 8,548 shares of the stock in a transaction on Thursday, January 23rd. The stock was sold at an average price of $81.82, for a total value of $699,397.36. Following the transaction, the director now directly owns 18,617 shares in the company, valued at $1,523,242.94. This trade represents a 31.47 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Chairman Walter W. Bettinger sold 464,629 shares of the business’s stock in a transaction on Wednesday, February 12th. The shares were sold at an average price of $81.91, for a total transaction of $38,057,761.39. Following the sale, the chairman now owns 827,377 shares of the company’s stock, valued at $67,770,450.07. This trade represents a 35.96 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 513,081 shares of company stock worth $41,903,066. 6.30% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in SCHW. Principal Financial Group Inc. raised its stake in shares of Charles Schwab by 0.6% in the third quarter. Principal Financial Group Inc. now owns 6,673,901 shares of the financial services provider’s stock worth $432,536,000 after purchasing an additional 38,201 shares during the last quarter. Anchor Investment Management LLC raised its position in Charles Schwab by 11.2% in the 3rd quarter. Anchor Investment Management LLC now owns 36,229 shares of the financial services provider’s stock valued at $2,348,000 after buying an additional 3,637 shares during the last quarter. Sculati Wealth Management LLC lifted its stake in Charles Schwab by 0.7% during the 3rd quarter. Sculati Wealth Management LLC now owns 42,988 shares of the financial services provider’s stock valued at $2,786,000 after acquiring an additional 315 shares in the last quarter. World Investment Advisors LLC purchased a new position in Charles Schwab during the 3rd quarter worth $9,211,000. Finally, Sfmg LLC grew its stake in shares of Charles Schwab by 2.5% in the 3rd quarter. Sfmg LLC now owns 58,542 shares of the financial services provider’s stock worth $3,794,000 after acquiring an additional 1,444 shares in the last quarter. 84.38% of the stock is owned by institutional investors.

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.