Charles Schwab (NYSE:SCHW) had its target price cut by Morgan Stanley from $53.00 to $46.00 in a research note released on Thursday, BenzingaRatingsTable reports. They currently have an overweight rating on the financial services provider’s stock.

A number of other brokerages have also weighed in on SCHW. Deutsche Bank reaffirmed a buy rating and issued a GBX 4,000 ($52.27) price objective on shares of in a report on Tuesday, June 18th. Bank of America set a $180.00 price target on CME Group and gave the stock a hold rating in a research note on Tuesday, April 9th. Wells Fargo & Co reaffirmed a hold rating on shares of AON in a research note on Friday, April 5th. ValuEngine lowered Virtu Financial from a hold rating to a sell rating in a research note on Tuesday, June 18th. Finally, Compass Point set a $52.00 target price on E*TRADE Financial and gave the company a buy rating in a research note on Tuesday, July 2nd. Two analysts have rated the stock with a sell rating, seven have given a hold rating and eight have given a buy rating to the company. The company currently has an average rating of Hold and a consensus price target of $48.53.

Shares of SCHW opened at $40.13 on Thursday. Charles Schwab has a twelve month low of $37.83 and a twelve month high of $54.26. The firm has a 50 day simple moving average of $41.43. The stock has a market cap of $53.57 billion, a price-to-earnings ratio of 16.38, a PEG ratio of 1.88 and a beta of 1.23. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.33 and a quick ratio of 0.33.

Charles Schwab (NYSE:SCHW) last announced its quarterly earnings data on Monday, April 15th. The financial services provider reported $0.69 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.66 by $0.03. Charles Schwab had a return on equity of 20.47% and a net margin of 35.27%. The company had revenue of $2.72 billion for the quarter, compared to analyst estimates of $2.67 billion. During the same quarter in the previous year, the company earned $0.55 EPS. The firm’s revenue for the quarter was up 13.6% compared to the same quarter last year. On average, equities analysts predict that Charles Schwab will post 2.69 EPS for the current fiscal year.

In other Charles Schwab news, Chairman Charles R. Schwab sold 250,000 shares of the business’s stock in a transaction on Monday, April 22nd. The stock was sold at an average price of $45.29, for a total value of $11,322,500.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Stephen T. Mclin sold 4,000 shares of the business’s stock in a transaction on Tuesday, April 16th. The shares were sold at an average price of $45.59, for a total value of $182,360.00. Following the completion of the transaction, the director now owns 7,592 shares of the company’s stock, valued at $346,119.28. The disclosure for this sale can be found here. Insiders sold a total of 837,836 shares of company stock valued at $38,242,686 over the last quarter. 10.90% of the stock is currently owned by insiders.

Several hedge funds have recently added to or reduced their stakes in the company. West Oak Capital LLC increased its holdings in shares of Charles Schwab by 3.9% during the 2nd quarter. West Oak Capital LLC now owns 41,650 shares of the financial services provider’s stock worth $1,674,000 after buying an additional 1,564 shares during the last quarter. CENTRAL TRUST Co increased its holdings in shares of Charles Schwab by 98.4% during the 2nd quarter. CENTRAL TRUST Co now owns 79,634 shares of the financial services provider’s stock worth $3,222,000 after buying an additional 39,494 shares during the last quarter. Xact Kapitalforvaltning AB increased its holdings in shares of Charles Schwab by 9.0% during the 2nd quarter. Xact Kapitalforvaltning AB now owns 241,115 shares of the financial services provider’s stock worth $9,690,000 after buying an additional 19,980 shares during the last quarter. Addenda Capital Inc. increased its holdings in shares of Charles Schwab by 2.2% during the 2nd quarter. Addenda Capital Inc. now owns 95,437 shares of the financial services provider’s stock worth $3,835,000 after buying an additional 2,072 shares during the last quarter. Finally, Gofen & Glossberg LLC IL increased its holdings in shares of Charles Schwab by 2.3% during the 2nd quarter. Gofen & Glossberg LLC IL now owns 267,500 shares of the financial services provider’s stock worth $10,751,000 after buying an additional 5,987 shares during the last quarter. Institutional investors and hedge funds own 78.92% of the company’s stock.

Charles Schwab Company Profile

The Charles Schwab Corporation, through its subsidiaries, provides wealth management, securities brokerage, banking, asset management, custody, and financial advisory services. The company operates through two segments, Investor Services and Advisor Services. The Investor Services segment provides retail brokerage and banking services, retirement plan services, and other corporate brokerage services; equity compensation plan sponsors full-service recordkeeping for stock plans, stock options, restricted stock, performance shares, and stock appreciation rights; and retail investor, retirement plan, and mutual fund clearing services.

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Analyst Recommendations for Charles Schwab (NYSE:SCHW)

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