Charles Schwab (NYSE:SCHW) Price Target Raised to $121.00 at JPMorgan Chase & Co.

Charles Schwab (NYSE:SCHW) had its price objective upped by JPMorgan Chase & Co. from $119.00 to $121.00 in a report issued on Monday,Benzinga reports. They currently have an overweight rating on the financial services provider’s stock.

A number of other research analysts have also recently issued reports on the company. Citigroup lifted their target price on Charles Schwab from $105.00 to $110.00 and gave the company a “buy” rating in a research report on Monday, July 21st. Truist Financial lifted their target price on Charles Schwab from $112.00 to $113.00 and gave the company a “buy” rating in a research report on Friday. Piper Sandler reiterated a “neutral” rating on shares of Charles Schwab in a research report on Tuesday, October 14th. Morgan Stanley decreased their target price on Charles Schwab to $130.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 1st. Finally, Bank of America lifted their target price on Charles Schwab from $84.00 to $86.00 and gave the company an “underperform” rating in a research report on Thursday, October 2nd. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, Charles Schwab currently has an average rating of “Moderate Buy” and an average target price of $106.00.

Charles Schwab Stock Up 0.8%

SCHW stock opened at $94.93 on Monday. The company has a market cap of $172.32 billion, a PE ratio of 22.23, a price-to-earnings-growth ratio of 0.88 and a beta of 0.97. The business has a 50-day simple moving average of $94.62 and a 200 day simple moving average of $89.94. Charles Schwab has a 52 week low of $65.88 and a 52 week high of $99.59. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 0.47.

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

Charles Schwab Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 22nd. Stockholders of record on Friday, August 8th were issued a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 1.1%. The ex-dividend date was Friday, August 8th. Charles Schwab’s payout ratio is 25.29%.

Charles Schwab announced that its board has authorized a stock buyback program on Thursday, July 24th that permits the company to buyback $20.00 billion in outstanding shares. This buyback authorization permits the financial services provider to repurchase up to 11.6% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its stock is undervalued.

Insider Activity at Charles Schwab

In other news, insider Nigel J. Murtagh sold 24,096 shares of the business’s stock in a transaction dated Tuesday, July 29th. The stock was sold at an average price of $97.91, for a total transaction of $2,359,239.36. Following the sale, the insider directly owned 58,999 shares in the company, valued at approximately $5,776,592.09. The trade was a 29.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Chairman Walter W. Bettinger sold 173,876 shares of the business’s stock in a transaction dated 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 sale, the chairman owned 590,734 shares in the company, valued at approximately $58,388,148.56. This trade represents a 22.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 267,128 shares of company stock valued at $26,232,077. Corporate insiders own 6.30% of the company’s stock.

Institutional Trading of Charles Schwab

Institutional investors have recently added to or reduced their stakes in the stock. Princeton Global Asset Management LLC bought a new stake in Charles Schwab in the second quarter valued at approximately $25,000. RMG Wealth Management LLC bought a new stake in Charles Schwab in the second quarter valued at approximately $27,000. Mid American Wealth Advisory Group Inc. bought a new stake in Charles Schwab in the second quarter valued at approximately $32,000. Westside Investment Management Inc. boosted its holdings in Charles Schwab by 75.0% in the first quarter. Westside Investment Management Inc. now owns 350 shares of the financial services provider’s stock valued at $27,000 after acquiring an additional 150 shares during the last quarter. Finally, Hoese & Co LLP boosted its holdings in Charles Schwab by 131.6% in the second quarter. Hoese & Co LLP now owns 352 shares of the financial services provider’s stock valued at $32,000 after acquiring an additional 200 shares during the last quarter. 84.38% of the stock is currently owned by institutional investors.

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.