Charles Schwab (NYSE:SCHW) Price Target Increased to $89.00 by Analysts at JPMorgan Chase & Co.

Charles Schwab (NYSE:SCHW) had its price objective hoisted by JPMorgan Chase & Co. from $86.00 to $89.00 in a report released on Tuesday, Benzinga reports. The firm currently has an overweight rating on the financial services provider’s stock.

Other equities research analysts have also recently issued reports about the company. Keefe, Bruyette & Woods cut Charles Schwab from an outperform rating to a market perform rating and cut their target price for the stock from $75.00 to $70.00 in a research note on Thursday, January 18th. Citigroup increased their target price on Charles Schwab from $70.00 to $75.00 and gave the stock a neutral rating in a research note on Thursday, April 11th. StockNews.com raised Charles Schwab from a sell rating to a hold rating in a research note on Friday, March 15th. Bank of America increased their price objective on Charles Schwab from $68.00 to $70.00 and gave the company an underperform rating in a research report on Tuesday. Finally, Barclays increased their price objective on Charles Schwab from $74.00 to $75.00 and gave the company an equal weight rating in a research report on Tuesday. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have given a buy rating to the company. According to MarketBeat, Charles Schwab has an average rating of Hold and a consensus price target of $74.47.

Charles Schwab Price Performance

SCHW opened at $72.92 on Tuesday. The stock has a fifty day simple moving average of $68.38 and a two-hundred day simple moving average of $62.89. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.82. The company has a market cap of $129.51 billion, a price-to-earnings ratio of 30.51, a price-to-earnings-growth ratio of 1.10 and a beta of 1.01. Charles Schwab has a 12-month low of $45.65 and a 12-month high of $73.88.

Charles Schwab (NYSE:SCHW) last posted its quarterly earnings data on Wednesday, January 17th. The financial services provider reported $0.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.64 by $0.04. The business had revenue of $4.46 billion during the quarter, compared to the consensus estimate of $4.49 billion. Charles Schwab had a return on equity of 19.86% and a net margin of 26.14%. The firm’s quarterly revenue was down 18.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.07 earnings per share. Research 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 announced a quarterly dividend, which was paid on Friday, February 23rd. Shareholders of record on Friday, February 9th were given a $0.25 dividend. The ex-dividend date was Thursday, February 8th. This represents a $1.00 annualized dividend and a yield of 1.37%. Charles Schwab’s payout ratio is 41.84%.

Insiders Place Their Bets

In other Charles Schwab news, Chairman Charles R. Schwab sold 16,390 shares of the firm’s stock in a transaction dated Wednesday, January 24th. The stock was sold at an average price of $63.94, for a total value of $1,047,976.60. Following the transaction, the chairman now directly owns 61,331,688 shares of the company’s stock, valued at $3,921,548,130.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Chairman Charles R. Schwab sold 16,390 shares of the firm’s stock in a transaction dated Wednesday, January 24th. The stock was sold at an average price of $63.94, for a total value of $1,047,976.60. Following the transaction, the chairman now owns 61,331,688 shares of the company’s stock, valued at $3,921,548,130.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Peter B. Crawford sold 4,000 shares of the firm’s stock in a transaction dated 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 transaction, the chief financial officer now directly owns 37,611 shares in the company, valued at approximately $2,425,533.39. The disclosure for this sale can be found here. Over the last three months, insiders have sold 312,800 shares of company stock valued at $21,081,569. Insiders own 6.60% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in SCHW. Price T Rowe Associates Inc. MD raised its stake in shares of Charles Schwab by 33.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 69,360,233 shares of the financial services provider’s stock worth $4,771,985,000 after buying an additional 17,369,091 shares during the period. Norges Bank bought a new position in shares of Charles Schwab in the fourth quarter worth about $1,325,555,000. Morgan Stanley raised its stake in Charles Schwab by 62.5% during the 4th quarter. Morgan Stanley now owns 22,255,649 shares of the financial services provider’s stock valued at $1,853,005,000 after purchasing an additional 8,563,389 shares during the period. Dodge & Cox raised its stake in Charles Schwab by 10.5% during the 4th quarter. Dodge & Cox now owns 86,421,986 shares of the financial services provider’s stock valued at $5,945,833,000 after purchasing an additional 8,182,467 shares during the period. Finally, Massachusetts Financial Services Co. MA raised its stake in Charles Schwab by 26.3% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 29,775,952 shares of the financial services provider’s stock valued at $1,634,700,000 after purchasing an additional 6,195,934 shares during the period. 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.