Charles Schwab (NYSE:SCHW) Given New $135.00 Price Target at TD Cowen

Charles Schwab (NYSE:SCHW) had its price objective upped by TD Cowen from $134.00 to $135.00 in a research report released on Wednesday morning,Benzinga reports. TD Cowen currently has a buy rating on the financial services provider’s stock.

Other equities analysts have also recently issued reports about the stock. BMO Capital Markets assumed coverage on shares of Charles Schwab in a research note on Friday, October 3rd. They issued an “outperform” rating and a $110.00 target price for the company. UBS Group lifted their price objective on shares of Charles Schwab from $119.00 to $123.00 and gave the company a “buy” rating in a report on Wednesday, January 7th. Truist Financial increased their target price on shares of Charles Schwab from $113.00 to $120.00 and gave the stock a “buy” rating in a research note on Wednesday, January 7th. Raymond James Financial restated an “outperform” rating and set a $114.00 target price on shares of Charles Schwab in a research report on Monday, January 5th. Finally, Citigroup reaffirmed a “market outperform” rating on shares of Charles Schwab in a report on Monday. One investment analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, five have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat, Charles Schwab has an average rating of “Moderate Buy” and a consensus price target of $112.24.

Charles Schwab Stock Up 0.7%

Shares of SCHW opened at $101.88 on Wednesday. The company has a market capitalization of $181.03 billion, a price-to-earnings ratio of 23.86, a PEG ratio of 0.70 and a beta of 0.94. Charles Schwab has a 52 week low of $65.88 and a 52 week high of $104.76. The stock’s 50-day moving average price is $96.81 and its 200-day moving average price is $95.35. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 0.47.

Charles Schwab (NYSE:SCHW) last announced its quarterly 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 21.02% and a net margin of 35.93%.The company had revenue of $6.38 billion during the quarter, compared to the consensus estimate of $5.93 billion. During the same period in the previous year, the company posted $0.71 earnings per share. Charles Schwab’s revenue for the quarter was up 26.6% on a year-over-year basis. On average, sell-side analysts predict that Charles Schwab will post 4.22 EPS for the current year.

Charles Schwab Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 28th. Investors of record on Friday, November 14th were paid a $0.27 dividend. The ex-dividend date of this dividend was Friday, November 14th. This represents a $1.08 dividend on an annualized basis and a yield of 1.1%. Charles Schwab’s dividend payout ratio (DPR) is currently 25.29%.

Insider Transactions at Charles Schwab

In other Charles Schwab news, insider Jonathan S. Beatty sold 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 23rd. The stock was sold at an average price of $102.01, for a total transaction of $204,020.00. Following the completion of the sale, the insider directly owned 11,923 shares in the company, valued at approximately $1,216,265.23. The trade was a 14.36% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 6.30% of the company’s stock.

Hedge Funds Weigh In On Charles Schwab

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Embree Financial Group increased its position in shares of Charles Schwab by 2.7% during the fourth quarter. Embree Financial Group now owns 17,134 shares of the financial services provider’s stock worth $1,712,000 after purchasing an additional 455 shares in the last quarter. Lantz Financial LLC boosted its stake in Charles Schwab by 3.1% during the 4th quarter. Lantz Financial LLC now owns 3,243 shares of the financial services provider’s stock worth $324,000 after purchasing an additional 99 shares during the last quarter. Hennion & Walsh Asset Management Inc. grew its holdings in shares of Charles Schwab by 2.4% during the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 62,835 shares of the financial services provider’s stock worth $6,278,000 after buying an additional 1,488 shares in the last quarter. Klein Pavlis & Peasley Financial Inc. raised its position in shares of Charles Schwab by 3.6% in the fourth quarter. Klein Pavlis & Peasley Financial Inc. now owns 52,825 shares of the financial services provider’s stock valued at $5,278,000 after buying an additional 1,812 shares during the last quarter. Finally, Goelzer Investment Management Inc. lifted its stake in shares of Charles Schwab by 3.6% in the fourth quarter. Goelzer Investment Management Inc. now owns 41,916 shares of the financial services provider’s stock worth $4,188,000 after buying an additional 1,461 shares in the last quarter. Hedge funds and other institutional investors own 84.38% of the company’s stock.

Charles Schwab Company Profile

Charles Schwab Corporation (NYSE: SCHW) is a diversified financial services firm that provides brokerage, banking, wealth management and advisory services to individual investors, independent investment advisors and institutional clients. Its primary offerings include retail brokerage accounts, online trading platforms, Schwab-branded mutual funds and exchange-traded funds (ETFs), retirement plan services, custodial services for independent Registered Investment Advisors (RIAs), and banking products through Charles Schwab Bank.