Charles Schwab (NYSE:SCHW) Price Target Cut to $84.00 by Analysts at Truist Financial

Charles Schwab (NYSE:SCHW) had its price target cut by Truist Financial from $85.00 to $84.00 in a research note published on Monday,Benzinga reports. They currently have a buy rating on the financial services provider’s stock.

A number of other brokerages also recently weighed in on SCHW. TD Cowen raised shares of Charles Schwab from a “hold” rating to a “buy” rating and boosted their price objective for the company from $88.00 to $103.00 in a research report on Tuesday, February 18th. Citigroup raised shares of Charles Schwab from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $85.00 to $102.00 in a report on Wednesday, April 2nd. JMP Securities cut their price objective on Charles Schwab from $96.00 to $94.00 and set a “market outperform” rating for the company in a report on Tuesday, April 8th. Wells Fargo & Company cut their target price on Charles Schwab from $93.00 to $87.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 8th. Finally, Piper Sandler upped their price target on shares of Charles Schwab from $74.00 to $80.00 in a research report on Thursday, April 17th. Two 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. Based on data from MarketBeat.com, Charles Schwab presently has a consensus rating of “Moderate Buy” and an average price target of $85.56.

Charles Schwab Stock Performance

Charles Schwab stock opened at $75.13 on Monday. The stock’s 50 day moving average price is $77.02 and its 200 day moving average price is $76.74. The firm has a market capitalization of $136.25 billion, a PE ratio of 25.13, a price-to-earnings-growth ratio of 0.99 and a beta of 0.91. Charles Schwab has a one year low of $61.01 and a one year high of $84.50. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.47 and a current ratio of 0.47.

Charles Schwab (NYSE:SCHW) last announced its earnings results on Thursday, April 17th. The financial services provider reported $1.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.01 by $0.03. The company 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 period in the prior year, the company posted $0.74 EPS. As a group, sell-side analysts expect that Charles Schwab will post 4.22 EPS for the current fiscal year.

Charles Schwab Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 14th were paid a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 1.44%. The ex-dividend date was Friday, February 14th. This is a positive change from Charles Schwab’s previous quarterly dividend of $0.25. Charles Schwab’s payout ratio is presently 36.12%.

Insiders Place Their Bets

In related news, insider Paul V. Woolway sold 9,887 shares of the firm’s stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $75.38, for a total value of $745,282.06. Following the transaction, the insider now directly owns 47,931 shares in the company, valued at approximately $3,613,038.78. This trade represents a 17.10 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Chairman Walter W. Bettinger sold 464,629 shares of the business’s stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $81.91, for a total transaction of $38,057,761.39. Following the transaction, the chairman now directly owns 827,377 shares of the company’s stock, valued at approximately $67,770,450.07. This represents a 35.96 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 513,081 shares of company stock valued at $41,903,066 over the last three months. 6.30% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Charles Schwab

Several large investors have recently made changes to their positions in SCHW. Citizens & Northern Corp grew its holdings in Charles Schwab by 3.4% in the 1st quarter. Citizens & Northern Corp now owns 22,196 shares of the financial services provider’s stock valued at $1,738,000 after buying an additional 728 shares during the last quarter. Meriwether Wealth & Planning LLC grew its stake in shares of Charles Schwab by 11.7% in the first quarter. Meriwether Wealth & Planning LLC now owns 17,716 shares of the financial services provider’s stock worth $1,387,000 after acquiring an additional 1,860 shares during the last quarter. Proathlete Wealth Management LLC bought a new position in Charles Schwab during the first quarter worth $96,000. Investment Research & Advisory Group Inc. raised its stake in Charles Schwab by 2.0% during the 1st quarter. Investment Research & Advisory Group Inc. now owns 65,182 shares of the financial services provider’s stock valued at $5,102,000 after purchasing an additional 1,251 shares during the last quarter. Finally, Retirement Systems of Alabama boosted its holdings in Charles Schwab by 2.8% in the 1st quarter. Retirement Systems of Alabama now owns 1,206,039 shares of the financial services provider’s stock valued at $94,409,000 after purchasing an additional 32,931 shares during the period. Institutional investors and hedge funds 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.