Charles Schwab (NYSE:SCHW) PT Raised to $81.00

Charles Schwab (NYSE:SCHW) had its price objective hoisted by Keefe, Bruyette & Woods from $76.00 to $81.00 in a research note released on Wednesday morning, Benzinga reports. Keefe, Bruyette & Woods currently has an outperform rating on the financial services provider’s stock.

Several other equities research analysts also recently commented on the stock. Raymond James decreased their target price on shares of Charles Schwab from $76.00 to $73.00 in a research report on Tuesday. Citigroup decreased their price objective on Charles Schwab from $75.00 to $72.00 and set a “neutral” rating for the company in a report on Friday, September 27th. Morgan Stanley lowered their price target on Charles Schwab from $70.00 to $68.00 and set an “equal weight” rating for the company in a research report on Monday, October 7th. JMP Securities cut their price objective on shares of Charles Schwab from $85.00 to $82.00 and set a “market outperform” rating on the stock in a report on Tuesday, July 23rd. Finally, Bank of America dropped their price target on shares of Charles Schwab from $72.00 to $66.00 and set an “underperform” rating on the stock in a research report on Wednesday, July 17th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $73.59.

Charles Schwab Stock Performance

Shares of Charles Schwab stock opened at $72.08 on Wednesday. The business has a 50-day simple moving average of $64.61 and a 200 day simple moving average of $69.51. The firm has a market capitalization of $128.11 billion, a price-to-earnings ratio of 30.16, a PEG ratio of 1.43 and a beta of 0.97. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.42 and a quick ratio of 0.42. Charles Schwab has a one year low of $48.66 and a one year high of $79.49.

Charles Schwab (NYSE:SCHW) last issued its earnings results on Tuesday, October 15th. The financial services provider reported $0.77 earnings per share for the quarter, topping analysts’ consensus estimates of $0.75 by $0.02. Charles Schwab had a return on equity of 18.14% and a net margin of 26.30%. The company had revenue of $4.85 billion for the quarter, compared to analyst estimates of $4.78 billion. During the same period in the prior year, the firm earned $0.77 earnings per share. Charles Schwab’s revenue for the quarter was up 5.2% on a year-over-year basis. On average, research analysts anticipate that Charles Schwab will post 3.06 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, August 23rd. Investors of record on Friday, August 9th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, August 9th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.39%. Charles Schwab’s dividend payout ratio is 41.84%.

Insiders Place Their Bets

In related news, Director Carolyn Schwab-Pomerantz sold 9,000 shares of Charles Schwab stock in a transaction on Friday, July 19th. The shares were sold at an average price of $61.96, for a total value of $557,640.00. Following the transaction, the director now owns 567,057 shares in the company, valued at $35,134,851.72. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Charles Schwab news, Chairman Charles R. Schwab sold 67,386 shares of the firm’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $65.11, for a total value of $4,387,502.46. Following the completion of the sale, the chairman now directly owns 60,619,371 shares in the company, valued at $3,946,927,245.81. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the stock in a transaction that occurred on Friday, July 19th. The stock was sold at an average price of $61.96, for a total value of $557,640.00. Following the completion of the transaction, the director now directly owns 567,057 shares of the company’s stock, valued at $35,134,851.72. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 98,856 shares of company stock valued at $6,398,604 over the last quarter. 6.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Charles Schwab

Several hedge funds have recently bought and sold shares of SCHW. Country Trust Bank purchased a new stake in shares of Charles Schwab in the 2nd quarter worth approximately $26,000. American Capital Advisory LLC purchased a new stake in shares of Charles Schwab in the second quarter worth $27,000. Fortitude Family Office LLC increased its holdings in shares of Charles Schwab by 97.5% during the second quarter. Fortitude Family Office LLC now owns 389 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 192 shares in the last quarter. CGC Financial Services LLC purchased a new position in shares of Charles Schwab in the 2nd quarter worth about $29,000. Finally, Mizuho Securities Co. Ltd. bought a new position in Charles Schwab in the 2nd quarter worth about $29,000. Institutional investors own 84.38% of the company’s stock.

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.