The Charles Schwab Corp. (SCHW) Rating Reiterated by Credit Suisse Group AG
The Charles Schwab Corp. (NYSE:SCHW)‘s stock had its “buy” rating reaffirmed by equities research analysts at Credit Suisse Group AG in a research report issued on Monday. They presently have a $32.00 price target on the stock. Credit Suisse Group AG’s price target would indicate a potential downside of 1.23% from the company’s current price.
SCHW has been the subject of several other reports. Morgan Stanley started coverage on The Charles Schwab Corp. in a research note on Monday, September 26th. They issued an “overweight” rating and a $37.00 price objective for the company. Zacks Investment Research downgraded The Charles Schwab Corp. from a “hold” rating to a “sell” rating in a research note on Monday, June 27th. Jefferies Group reissued a “buy” rating on shares of The Charles Schwab Corp. in a research note on Friday, August 5th. Citigroup Inc. increased their price objective on The Charles Schwab Corp. from $28.50 to $31.50 and gave the company a “neutral” rating in a research note on Monday, July 25th. Finally, JMP Securities reissued an “outperform” rating and issued a $32.00 price objective on shares of The Charles Schwab Corp. in a research note on Wednesday, July 20th. Six research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. The Charles Schwab Corp. currently has an average rating of “Buy” and a consensus target price of $32.59.
The Charles Schwab Corp. (NYSE:SCHW) traded up 1.14% during mid-day trading on Monday, hitting $32.77. The stock had a trading volume of 1,191,170 shares. The Charles Schwab Corp. has a one year low of $21.51 and a one year high of $34.52. The company has a market cap of $43.35 billion, a PE ratio of 28.25 and a beta of 1.55. The firm’s 50-day moving average price is $31.00 and its 200 day moving average price is $28.95.
The Charles Schwab Corp. (NYSE:SCHW) last posted its quarterly earnings data on Monday, July 18th. The company reported $0.30 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.30. The Charles Schwab Corp. had a return on equity of 13.03% and a net margin of 24.07%. The firm earned $1.83 billion during the quarter, compared to the consensus estimate of $1.80 billion. During the same period in the prior year, the company earned $0.25 EPS. The firm’s revenue was up 16.7% compared to the same quarter last year. On average, equities research analysts anticipate that The Charles Schwab Corp. will post $1.26 EPS for the current year.
In other The Charles Schwab Corp. news, insider Marie A. Chandoha sold 6,076 shares of the stock in a transaction dated Tuesday, October 4th. The stock was sold at an average price of $32.00, for a total value of $194,432.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Terri R. Kallsen sold 6,894 shares of the stock in a transaction dated Friday, July 22nd. The shares were sold at an average price of $28.01, for a total value of $193,100.94. Following the completion of the sale, the executive vice president now directly owns 17,822 shares in the company, valued at approximately $499,194.22. The disclosure for this sale can be found here. 12.60% of the stock is owned by company insiders.
A number of large investors have recently bought and sold shares of SCHW. Advisory Services Network LLC raised its stake in shares of The Charles Schwab Corp. by 22.8% in the third quarter. Advisory Services Network LLC now owns 10,604 shares of the company’s stock valued at $335,000 after buying an additional 1,969 shares during the period. Atalanta Sosnoff Capital LLC acquired a new stake in shares of The Charles Schwab Corp. during the third quarter valued at $7,125,000. North Star Asset Management Inc. raised its stake in shares of The Charles Schwab Corp. by 0.9% in the third quarter. North Star Asset Management Inc. now owns 276,326 shares of the company’s stock valued at $8,724,000 after buying an additional 2,530 shares during the period. Fulton Bank N.A. acquired a new stake in shares of The Charles Schwab Corp. during the third quarter valued at $239,000. Finally, Cullinan Associates Inc. raised its stake in shares of The Charles Schwab Corp. by 7.5% in the third quarter. Cullinan Associates Inc. now owns 112,200 shares of the company’s stock valued at $3,542,000 after buying an additional 7,800 shares during the period. 76.45% of the stock is currently owned by institutional investors.
About The Charles Schwab Corp.
The Charles Schwab Corporation is a savings and loan holding company. The Company, through its subsidiaries, engages in wealth management, securities brokerage, banking, money management and financial advisory services. The Company provides financial services to individuals and institutional clients through two segments: Investor Services and Advisor Services.
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