Charles Schwab (NYSE:SCHW) Price Target Raised to $114.00 at Argus

Charles Schwab (NYSE:SCHW) had its price target boosted by Argus from $108.00 to $114.00 in a research report released on Thursday, Marketbeat reports. Argus currently has a buy rating on the financial services provider’s stock.

A number of other equities research analysts have also recently commented on the stock. Citigroup reiterated a “market outperform” rating on shares of Charles Schwab in a report on Wednesday. Weiss Ratings reiterated a “buy (b-)” rating on shares of Charles Schwab in a research note on Thursday, June 18th. Barclays lifted their target price on Charles Schwab from $122.00 to $125.00 and gave the stock an “overweight” rating in a report on Wednesday. Morgan Stanley upped their price target on Charles Schwab from $125.00 to $133.00 and gave the company an “overweight” rating in a report on Friday, July 10th. Finally, UBS Group lifted their price objective on Charles Schwab from $122.00 to $128.00 and gave the stock a “buy” rating in a report on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Charles Schwab currently has a consensus rating of “Moderate Buy” and a consensus price target of $119.76.

Charles Schwab Trading Up 0.8%

NYSE SCHW opened at $101.62 on Thursday. Charles Schwab has a 12 month low of $83.96 and a 12 month high of $107.50. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 0.48. The stock’s fifty day moving average price is $93.71 and its 200-day moving average price is $95.35. The stock has a market cap of $176.73 billion, a P/E ratio of 18.48, a P/E/G ratio of 0.83 and a beta of 0.77.

Charles Schwab (NYSE:SCHW) last announced its quarterly earnings results on Tuesday, July 21st. The financial services provider reported $1.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.56 by $0.06. Charles Schwab had a net margin of 38.79% and a return on equity of 24.73%. The company had revenue of $7.07 billion for the quarter, compared to analysts’ expectations of $6.90 billion. During the same quarter in the previous year, the business posted $1.14 EPS. Charles Schwab’s revenue was up 20.9% compared to the same quarter last year. As a group, equities analysts forecast that Charles Schwab will post 6.34 EPS for the current fiscal year.

Insider Transactions at Charles Schwab

In other Charles Schwab news, Director Frank C. Herringer sold 2,520 shares of the company’s stock in a transaction dated Tuesday, April 28th. The stock was sold at an average price of $90.60, for a total value of $228,312.00. Following the completion of the sale, the director owned 177,508 shares in the company, valued at $16,082,224.80. This represents a 1.40% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Jonathan S. Beatty sold 2,000 shares of the firm’s stock in a transaction dated Monday, July 6th. The stock was sold at an average price of $100.01, for a total value of $200,020.00. Following the completion of the transaction, the insider directly owned 13,738 shares in the company, valued at $1,373,937.38. This trade represents a 12.71% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 6,520 shares of company stock valued at $622,392. Company insiders own 6.30% of the company’s stock.

Hedge Funds Weigh In On Charles Schwab

Large investors have recently added to or reduced their stakes in the company. Brookwood Investment Group LLC increased its position in shares of Charles Schwab by 192.6% during the 4th quarter. Brookwood Investment Group LLC now owns 12,236 shares of the financial services provider’s stock valued at $1,222,000 after purchasing an additional 8,054 shares during the last quarter. Juno Financial Group LLC bought a new position in Charles Schwab during the fourth quarter valued at $2,591,000. Swiss Life Asset Management Ltd increased its position in Charles Schwab by 4.2% during the fourth quarter. Swiss Life Asset Management Ltd now owns 407,179 shares of the financial services provider’s stock valued at $40,681,000 after acquiring an additional 16,482 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Charles Schwab by 0.3% in the fourth quarter. Geode Capital Management LLC now owns 37,667,640 shares of the financial services provider’s stock valued at $3,747,646,000 after acquiring an additional 98,242 shares during the period. Finally, Busey Bank raised its stake in shares of Charles Schwab by 15.5% in the fourth quarter. Busey Bank now owns 258,962 shares of the financial services provider’s stock valued at $25,873,000 after acquiring an additional 34,745 shares during the period. Hedge funds and other institutional investors own 84.38% of the company’s stock.

Key Stories Impacting Charles Schwab

Here are the key news stories impacting Charles Schwab this week:

• Positive Sentiment: Schwab beat Q2 estimates, with record daily average revenue trades, a 20%+ revenue increase, and management raising full-year guidance, signaling strong operating momentum. Schwab Beats 2Q Estimates as Retail Traders Pile Into Market
• Positive Sentiment: Analysts turned more bullish, with Argus lifting its price target to $114 and Barclays raising its target to $125, both with positive ratings. Analyst price target increases
• Positive Sentiment: Schwab was added to Zacks’ Rank #1 “Strong Buy” income stocks list, which can support investor sentiment around the name. Best Income Stocks to Buy for July 23rd
• Neutral Sentiment: Schwab declared its regular quarterly common stock dividend and preferred dividends, reinforcing its shareholder-return profile but not changing the core growth story. Schwab Declares Quarterly Common Stock Dividend and Declares Preferred Stock Dividends
• Negative Sentiment: Some coverage noted that SCHW shares fell despite the earnings surge, suggesting traders may be taking profits after the run-up or focusing on valuation near recent highs. Interactive Brokers, Charles Schwab Slide Despite Earnings Surge

About Charles Schwab

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.