Charles Schwab (NYSE:SCHW) Price Target Raised to $70.00

Charles Schwab (NYSE:SCHW) had its price target raised by Bank of America from $68.00 to $70.00 in a report released on Tuesday, Benzinga reports. Bank of America currently has an underperform rating on the financial services provider’s stock.

Several other equities analysts also recently weighed in on SCHW. Citigroup raised their target price on Charles Schwab from $70.00 to $75.00 and gave the company a neutral rating in a research report on Thursday, April 11th. Morgan Stanley raised their target price on Charles Schwab from $65.00 to $71.00 and gave the company an equal weight rating in a research report on Tuesday, April 9th. TD Cowen upgraded Charles Schwab from a market perform rating to an outperform rating and set a $87.00 target price on the stock in a research report on Friday, March 22nd. The Goldman Sachs Group restated a neutral rating and issued a $71.00 target price (up previously from $70.00) on shares of Charles Schwab in a research report on Wednesday, January 3rd. Finally, Raymond James decreased their target price on Charles Schwab from $78.00 to $75.00 and set an outperform rating on the stock in a research report on Thursday, January 18th. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of Hold and an average price target of $74.47.

Charles Schwab Stock Up 0.6 %

Shares of SCHW opened at $72.92 on Tuesday. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.82. Charles Schwab has a 12 month low of $45.65 and a 12 month high of $73.88. The stock’s 50 day moving average is $68.38 and its two-hundred day moving average is $62.89. The firm has a market cap of $129.51 billion, a P/E ratio of 30.51, a PEG ratio of 1.10 and a beta of 1.01.

Charles Schwab (NYSE:SCHW) last issued its quarterly earnings data on Wednesday, January 17th. The financial services provider reported $0.68 EPS for the quarter, beating the consensus estimate of $0.64 by $0.04. The company had revenue of $4.46 billion for the quarter, compared to analyst estimates of $4.49 billion. Charles Schwab had a return on equity of 19.86% and a net margin of 26.14%. Charles Schwab’s quarterly revenue was down 18.9% compared to the same quarter last year. During the same period last year, the company earned $1.07 earnings per share. Analysts predict that Charles Schwab will post 3.41 earnings per share for the current fiscal year.

Charles Schwab Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 23rd. Stockholders of record on Friday, February 9th were paid a $0.25 dividend. The ex-dividend date was Thursday, February 8th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.37%. Charles Schwab’s payout ratio is presently 41.84%.

Insider Activity

In other news, CFO Peter B. Crawford sold 4,000 shares of Charles Schwab stock in a transaction on Monday, January 22nd. The stock was sold at an average price of $64.49, for a total value of $257,960.00. Following the completion of the sale, the chief financial officer now directly owns 37,611 shares of the company’s stock, valued at $2,425,533.39. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, Chairman Charles R. Schwab sold 71,226 shares of the business’s stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $64.99, for a total transaction of $4,628,977.74. Following the completion of the transaction, the chairman now directly owns 61,251,038 shares of the company’s stock, valued at approximately $3,980,704,959.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Peter B. Crawford sold 4,000 shares of the business’s stock in a transaction on Monday, January 22nd. The stock was sold at an average price of $64.49, for a total value of $257,960.00. Following the transaction, the chief financial officer now directly owns 37,611 shares of the company’s stock, valued at $2,425,533.39. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 312,800 shares of company stock valued at $21,081,569. 6.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of SCHW. Providence Capital Advisors LLC acquired a new position in Charles Schwab during the 3rd quarter worth $28,000. Main Street Group LTD purchased a new stake in Charles Schwab during the 4th quarter worth about $29,000. Sugarloaf Wealth Management LLC lifted its holdings in Charles Schwab by 60.0% during the 4th quarter. Sugarloaf Wealth Management LLC now owns 440 shares of the financial services provider’s stock worth $30,000 after buying an additional 165 shares during the last quarter. Frazier Financial Advisors LLC purchased a new stake in Charles Schwab during the 4th quarter worth about $30,000. Finally, Wetzel Investment Advisors Inc. purchased a new stake in Charles Schwab during the 4th quarter worth about $31,000. 84.38% of the stock is owned by institutional investors and hedge funds.

About Charles Schwab

The Charles Schwab Corporation, together with its subsidiaries, operates as a savings and loan holding company that provides wealth management, securities brokerage, banking, asset management, custody, and financial advisory services in the United States and internationally. The company operates in two segments, Investor Services and Advisor Services.