Keefe, Bruyette & Woods Increases Charles Schwab (NYSE:SCHW) Price Target to $111.00

Charles Schwab (NYSE:SCHW) had its price objective boosted by equities research analysts at Keefe, Bruyette & Woods from $109.00 to $111.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage presently has an “outperform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ price objective suggests a potential upside of 17.88% from the company’s previous close.

Other equities research analysts also recently issued reports about the company. William Blair downgraded Charles Schwab from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 3rd. BMO Capital Markets started coverage on Charles Schwab in a report on Friday, October 3rd. They set an “outperform” rating and a $110.00 price objective for the company. Citigroup boosted their price objective on Charles Schwab from $105.00 to $110.00 and gave the company a “buy” rating in a report on Monday, July 21st. Piper Sandler restated a “neutral” rating on shares of Charles Schwab in a report on Tuesday. Finally, Raymond James Financial restated an “outperform” rating and set a $99.00 price objective on shares of Charles Schwab in a report on Friday, July 18th. One research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, five have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $104.70.

Charles Schwab Trading Up 0.8%

Shares of SCHW stock opened at $94.17 on Friday. The company has a market cap of $170.93 billion, a P/E ratio of 22.05, a PEG ratio of 0.89 and a beta of 0.97. The stock has a 50 day simple moving average of $94.68 and a two-hundred day simple moving average of $89.66. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.55 and a current ratio of 0.55. Charles Schwab has a fifty-two week low of $65.88 and a fifty-two week high of $99.59.

Charles Schwab (NYSE:SCHW) last issued its earnings results on Thursday, October 16th. The financial services provider reported $1.31 earnings per share for the quarter, topping analysts’ consensus estimates of $1.25 by $0.06. The business had revenue of $6.14 billion during the quarter, compared to the consensus estimate of $5.93 billion. Charles Schwab had a return on equity of 21.26% and a net margin of 35.93%.The firm’s revenue for the quarter was up 26.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.71 earnings per share. Research analysts forecast that Charles Schwab will post 4.22 earnings per share for the current year.

Charles Schwab announced that its Board of Directors has initiated a stock buyback program on Thursday, July 24th that authorizes the company to buyback $20.00 billion in shares. This buyback authorization authorizes the financial services provider to reacquire up to 11.6% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.

Insider Buying and Selling at Charles Schwab

In related news, General Counsel Peter J. Morgan III sold 50,016 shares of the company’s stock in a transaction on Wednesday, August 27th. The stock was sold at an average price of $97.00, for a total transaction of $4,851,552.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Paul V. Woolway sold 3,205 shares of the company’s stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $93.33, for a total value of $299,122.65. Following the sale, the insider owned 34,778 shares of the company’s stock, valued at $3,245,830.74. This trade represents a 8.44% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 267,128 shares of company stock valued at $26,232,077 in the last three months. Insiders own 6.30% of the company’s stock.

Institutional Investors Weigh In On Charles Schwab

Several institutional investors have recently bought and sold shares of SCHW. Brighton Jones LLC boosted its position in Charles Schwab by 380.5% in the fourth quarter. Brighton Jones LLC now owns 24,240 shares of the financial services provider’s stock worth $1,794,000 after purchasing an additional 19,195 shares during the last quarter. GAMMA Investing LLC boosted its position in Charles Schwab by 28.2% in the first quarter. GAMMA Investing LLC now owns 27,122 shares of the financial services provider’s stock worth $2,123,000 after purchasing an additional 5,973 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its position in Charles Schwab by 9.6% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 1,087,355 shares of the financial services provider’s stock worth $85,118,000 after purchasing an additional 95,336 shares during the last quarter. Sowell Financial Services LLC purchased a new position in Charles Schwab in the first quarter worth $533,000. Finally, QRG Capital Management Inc. boosted its position in Charles Schwab by 1.4% in the first quarter. QRG Capital Management Inc. now owns 27,074 shares of the financial services provider’s stock worth $2,119,000 after purchasing an additional 375 shares during the last quarter. Institutional investors own 84.38% of the company’s stock.

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.