Brokerages Set The Charles Schwab Co. (NYSE:SCHW) Price Target at $73.50

Shares of The Charles Schwab Co. (NYSE:SCHW) have been assigned a consensus rating of “Hold” from the sixteen analysts that are currently covering the firm, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have assigned a buy rating to the company. The average 1 year price target among analysts that have covered the stock in the last year is $73.31.

SCHW has been the topic of several recent research reports. The Goldman Sachs Group reduced their price target on Charles Schwab from $71.00 to $67.00 and set a “neutral” rating on the stock in a research report on Thursday, September 26th. JMP Securities reduced their target price on Charles Schwab from $85.00 to $82.00 and set a “market outperform” rating on the stock in a report on Tuesday, July 23rd. Deutsche Bank Aktiengesellschaft upped their price target on Charles Schwab from $79.00 to $80.00 and gave the company a “buy” rating in a research note on Thursday, August 15th. Barclays reduced their price objective on shares of Charles Schwab from $77.00 to $68.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 17th. Finally, Piper Sandler downgraded shares of Charles Schwab from an “overweight” rating to a “neutral” rating and lowered their target price for the company from $80.00 to $64.00 in a research note on Monday, July 29th.

Insider Buying and Selling at Charles Schwab

In other news, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $64.05, for a total transaction of $576,450.00. Following the completion of the transaction, the director now directly owns 554,929 shares of the company’s stock, valued at approximately $35,543,202.45. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the company’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $64.05, for a total transaction of $576,450.00. Following the sale, the director now owns 554,929 shares in the company, valued at $35,543,202.45. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President Richard A. Wurster purchased 10,000 shares of Charles Schwab stock in a transaction that occurred on Wednesday, July 17th. The shares were bought at an average cost of $62.05 per share, with a total value of $620,500.00. Following the completion of the transaction, the president now directly owns 144,228 shares of the company’s stock, valued at approximately $8,949,347.40. The disclosure for this purchase can be found here. In the last quarter, insiders have sold 99,636 shares of company stock worth $6,457,104. Corporate insiders own 6.60% of the company’s stock.

Institutional Trading of Charles Schwab

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in Charles Schwab by 0.9% in the 1st quarter. Vanguard Group Inc. now owns 120,963,133 shares of the financial services provider’s stock valued at $8,750,473,000 after purchasing an additional 1,042,823 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of Charles Schwab by 4.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 72,306,560 shares of the financial services provider’s stock valued at $5,230,657,000 after buying an additional 2,946,327 shares during the last quarter. Fisher Asset Management LLC boosted its stake in shares of Charles Schwab by 1.6% during the 4th quarter. Fisher Asset Management LLC now owns 18,623,505 shares of the financial services provider’s stock worth $1,281,297,000 after acquiring an additional 292,155 shares during the period. Putnam Investments LLC increased its holdings in shares of Charles Schwab by 4.8% during the 4th quarter. Putnam Investments LLC now owns 12,237,705 shares of the financial services provider’s stock worth $841,954,000 after acquiring an additional 560,110 shares during the last quarter. Finally, Wellington Management Group LLP raised its stake in Charles Schwab by 13.3% in the 4th quarter. Wellington Management Group LLP now owns 11,668,610 shares of the financial services provider’s stock valued at $802,800,000 after acquiring an additional 1,373,223 shares during the period. 84.38% of the stock is owned by institutional investors.

Charles Schwab Stock Performance

Shares of NYSE:SCHW opened at $63.91 on Friday. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 0.65. Charles Schwab has a 1-year low of $48.66 and a 1-year high of $79.49. The stock has a market capitalization of $113.66 billion, a P/E ratio of 26.74, a P/E/G ratio of 1.32 and a beta of 0.97. The business has a 50-day moving average price of $64.08 and a two-hundred day moving average price of $69.82.

Charles Schwab (NYSE:SCHW) last posted its quarterly earnings results on Tuesday, July 16th. The financial services provider reported $0.73 earnings per share for the quarter, topping analysts’ consensus estimates of $0.72 by $0.01. Charles Schwab had a net margin of 26.30% and a return on equity of 18.14%. The business had revenue of $4.69 billion during the quarter, compared to the consensus estimate of $4.68 billion. During the same period in the previous year, the firm posted $0.75 earnings per share. Charles Schwab’s revenue for the quarter was up .7% compared to the same quarter last year. Equities analysts predict that Charles Schwab will post 3.05 earnings per share for the current 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 1.56%. Charles Schwab’s payout ratio is presently 41.84%.

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.