Charles Schwab (NYSE:SCHW) Price Target Cut to $113.00 by Analysts at Deutsche Bank Aktiengesellschaft

Charles Schwab (NYSE:SCHW) had its price target cut by Deutsche Bank Aktiengesellschaft from $114.00 to $113.00 in a research note published on Tuesday,Benzinga reports. They currently have a buy rating on the financial services provider’s stock.

Several other research firms have also recently commented on SCHW. Bank of America raised their target price on shares of Charles Schwab from $83.00 to $84.00 and gave the company an “underperform” rating in a research note on Monday, July 21st. Barclays lifted their target price on shares of Charles Schwab from $106.00 to $113.00 and gave the company an “overweight” rating in a research note on Friday, July 18th. Citigroup boosted their price target on shares of Charles Schwab from $105.00 to $110.00 and gave the company a “buy” rating in a report on Monday, July 21st. Wells Fargo & Company set a $102.00 target price on shares of Charles Schwab and gave the company an “overweight” rating in a research note on Friday, July 18th. Finally, Piper Sandler upped their target price on shares of Charles Schwab from $80.00 to $92.00 and gave the company a “neutral” rating in a research report on Tuesday, July 15th. Sixteen investment analysts have rated the stock with a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $100.00.

Charles Schwab Price Performance

Shares of SCHW stock opened at $90.99 on Tuesday. The company has a market capitalization of $165.17 billion, a PE ratio of 24.46, a price-to-earnings-growth ratio of 0.91 and a beta of 0.96. The firm has a fifty day simple moving average of $95.38 and a 200-day simple moving average of $86.99. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 0.47. Charles Schwab has a twelve month low of $62.41 and a twelve month high of $99.59.

Charles Schwab (NYSE:SCHW) last posted its quarterly earnings data on Friday, July 18th. The financial services provider reported $1.14 EPS for the quarter, beating analysts’ consensus estimates of $1.10 by $0.04. The firm had revenue of $5.85 billion for the quarter, compared to the consensus estimate of $5.64 billion. Charles Schwab had a net margin of 33.68% and a return on equity of 19.30%. The firm’s revenue was up 24.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.73 EPS. Equities research analysts anticipate that Charles Schwab will post 4.22 earnings per share for the current fiscal year.

Charles Schwab Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 22nd. Investors of record on Friday, August 8th were paid a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend was Friday, August 8th. Charles Schwab’s payout ratio is 29.03%.

Charles Schwab declared that its board has approved a share buyback plan on Thursday, July 24th that authorizes the company to repurchase $20.00 billion in shares. This repurchase authorization authorizes the financial services provider to buy up to 11.6% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

Insider Activity at Charles Schwab

In other Charles Schwab news, Chairman Walter W. Bettinger sold 173,876 shares of the business’s stock in a transaction that occurred on Tuesday, July 29th. The stock was sold at an average price of $98.84, for a total value of $17,185,903.84. Following the transaction, the chairman directly owned 590,734 shares of the company’s stock, valued at approximately $58,388,148.56. The trade was a 22.74% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Nigel J. Murtagh sold 24,096 shares of the company’s stock in a transaction that occurred on Tuesday, July 29th. The stock was sold at an average price of $97.91, for a total value of $2,359,239.36. Following the transaction, the insider directly owned 58,999 shares in the company, valued at $5,776,592.09. The trade was a 29.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 267,213 shares of company stock valued at $26,232,180. Corporate insiders own 6.30% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in SCHW. Vanguard Group Inc. raised its holdings in shares of Charles Schwab by 1.9% in the 2nd quarter. Vanguard Group Inc. now owns 151,182,081 shares of the financial services provider’s stock valued at $13,793,853,000 after acquiring an additional 2,786,829 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of Charles Schwab by 12.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 82,048,984 shares of the financial services provider’s stock valued at $6,422,795,000 after buying an additional 8,954,248 shares in the last quarter. State Street Corp raised its holdings in shares of Charles Schwab by 0.7% during the 2nd quarter. State Street Corp now owns 72,464,619 shares of the financial services provider’s stock valued at $6,611,672,000 after buying an additional 531,329 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Charles Schwab by 2.9% during the 2nd quarter. Geode Capital Management LLC now owns 37,381,183 shares of the financial services provider’s stock valued at $3,399,181,000 after buying an additional 1,038,376 shares in the last quarter. Finally, Franklin Resources Inc. raised its holdings in shares of Charles Schwab by 2.8% during the 2nd quarter. Franklin Resources Inc. now owns 30,035,937 shares of the financial services provider’s stock valued at $2,740,479,000 after buying an additional 815,625 shares in the last quarter. 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.