The Charles Schwab Corp. (SCHW) Price Target Increased to $38.00 by Analysts at Jefferies Group
The Charles Schwab Corp. (NYSE:SCHW) had its price objective hoisted by analysts at Jefferies Group from $34.00 to $38.00 in a research report issued on Tuesday. The firm currently has a “buy” rating on the stock. Jefferies Group’s price objective would suggest a potential upside of 17.10% from the stock’s previous close.
SCHW has been the topic of a number of other reports. Barclays PLC increased their price objective on The Charles Schwab Corp. from $29.00 to $34.00 and gave the company an “overweight” rating in a report on Tuesday, August 9th. JMP Securities reissued an “outperform” rating and issued a $32.00 price objective on shares of The Charles Schwab Corp. in a report on Wednesday, July 20th. Nomura cut their price objective on The Charles Schwab Corp. from $33.00 to $31.00 and set a “buy” rating on the stock in a report on Monday, July 11th. Deutsche Bank AG reissued a “buy” rating on shares of The Charles Schwab Corp. in a report on Sunday, July 10th. Finally, Zacks Investment Research lowered The Charles Schwab Corp. from a “hold” rating to a “sell” rating in a report on Monday, June 27th. Six research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $32.82.
Shares of The Charles Schwab Corp. (NYSE:SCHW) traded down 2.111% during mid-day trading on Tuesday, reaching $31.765. The company had a trading volume of 3,317,539 shares. The stock has a market capitalization of $42.03 billion, a P/E ratio of 27.384 and a beta of 1.55. The Charles Schwab Corp. has a 52-week low of $21.51 and a 52-week high of $34.52. The company’s 50-day moving average is $31.06 and its 200 day moving average is $28.99.
The Charles Schwab Corp. (NYSE:SCHW) last released its quarterly earnings results on Monday, July 18th. The company reported $0.30 EPS for the quarter, meeting analysts’ consensus estimates of $0.30. The Charles Schwab Corp. had a return on equity of 13.03% and a net margin of 24.07%. The company earned $1.83 billion during the quarter, compared to analysts’ expectations of $1.80 billion. During the same period last year, the business posted $0.25 earnings per share. The firm’s revenue was up 16.7% compared to the same quarter last year. Analysts anticipate that The Charles Schwab Corp. will post $1.26 EPS for the current fiscal year.
In other news, insider Marie A. Chandoha sold 6,076 shares of the firm’s stock in a transaction that occurred on 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 filing with the SEC, which is available at the SEC website. Also, EVP Nigel J. Murtagh sold 2,500 shares of the firm’s stock in a transaction that occurred on Friday, August 5th. The shares were sold at an average price of $29.72, for a total value of $74,300.00. Following the completion of the transaction, the executive vice president now owns 35,137 shares in the company, valued at approximately $1,044,271.64. The disclosure for this sale can be found here. 12.60% of the stock is owned by insiders.
Institutional investors have recently added to or reduced their stakes in the stock. Dodge & Cox increased its position in The Charles Schwab Corp. by 0.4% in the first quarter. Dodge & Cox now owns 103,001,887 shares of the company’s stock valued at $2,886,113,000 after buying an additional 379,250 shares during the period. Vanguard Group Inc. increased its position in The Charles Schwab Corp. by 2.0% in the second quarter. Vanguard Group Inc. now owns 72,619,468 shares of the company’s stock valued at $1,837,998,000 after buying an additional 1,453,545 shares during the period. BlackRock Institutional Trust Company N.A. increased its position in The Charles Schwab Corp. by 8.7% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 32,659,249 shares of the company’s stock valued at $826,606,000 after buying an additional 2,620,553 shares during the period. FMR LLC increased its position in The Charles Schwab Corp. by 6.8% in the second quarter. FMR LLC now owns 23,322,699 shares of the company’s stock valued at $590,299,000 after buying an additional 1,480,550 shares during the period. Finally, Parnassus Investments CA increased its position in The Charles Schwab Corp. by 7.0% in the second quarter. Parnassus Investments CA now owns 20,483,956 shares of the company’s stock valued at $518,449,000 after buying an additional 1,347,804 shares during the period. Institutional investors and hedge funds own 76.45% of the company’s stock.
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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