Charles Schwab (NYSE:SCHW) Given New $73.00 Price Target at Raymond James

Charles Schwab (NYSE:SCHW) had its price objective decreased by Raymond James from $76.00 to $73.00 in a research note released on Tuesday.

Several other research firms have also issued reports on SCHW. Wells Fargo & Company started coverage on Charles Schwab in a research report on Thursday, September 12th. They set an equal weight rating and a $70.00 price target on the stock. Citigroup dropped 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. Barclays dropped their price objective on Charles Schwab from $77.00 to $68.00 and set an equal weight rating for the company in a report on Wednesday, July 17th. Bank of America dropped their price objective on Charles Schwab from $72.00 to $66.00 and set an underperform rating for the company in a report on Wednesday, July 17th. Finally, Morgan Stanley dropped their price objective on Charles Schwab from $70.00 to $68.00 and set an equal weight rating for the company in a report on Monday, October 7th. Three analysts have rated the stock with a sell rating, eight have given a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, Charles Schwab presently has an average rating of Hold and a consensus price target of $71.82.

Charles Schwab Price Performance

SCHW opened at $71.96 on Tuesday. The stock’s 50 day simple moving average is $64.42 and its 200 day simple moving average is $69.49. 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 1 year low of $48.66 and a 1 year high of $79.49. The firm has a market cap of $127.98 billion, a price-to-earnings ratio of 29.86, a PEG ratio of 1.43 and a beta of 0.97.

Charles Schwab (NYSE:SCHW) last posted its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.75 by $0.02. Charles Schwab had a return on equity of 18.14% and a net margin of 26.30%. The business had revenue of $4.85 billion for the quarter, compared to analyst estimates of $4.78 billion. During the same period last year, the company earned $0.77 EPS. Charles Schwab’s revenue for the quarter was up 5.2% compared to the same quarter last year. As a group, analysts predict that Charles Schwab will post 3.06 earnings per share for the current year.

Charles Schwab Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Friday, August 9th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.39%. The ex-dividend date of this dividend was Friday, August 9th. Charles Schwab’s payout ratio is 41.49%.

Insider Buying and Selling at Charles Schwab

In other Charles Schwab news, Chairman Charles R. Schwab sold 67,386 shares of Charles Schwab stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $65.11, for a total transaction of $4,387,502.46. Following the completion of the transaction, the chairman now owns 60,619,371 shares in the company, valued at approximately $3,946,927,245.81. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Charles Schwab news, Director Carolyn Schwab-Pomerantz sold 9,000 shares of Charles Schwab stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $64.05, for a total value of $576,450.00. Following the completion of the sale, the director now owns 554,929 shares of the company’s stock, valued at approximately $35,543,202.45. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Charles R. Schwab sold 67,386 shares of Charles Schwab stock in a transaction on Wednesday, July 31st. The stock was 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 of the company’s stock, valued at approximately $3,946,927,245.81. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 98,856 shares of company stock worth $6,398,604. 6.60% of the stock is owned by insiders.

Institutional Trading of Charles Schwab

Institutional investors and hedge funds have recently modified their holdings of the business. Country Trust Bank bought a new stake in shares of Charles Schwab in the 2nd quarter worth $26,000. Fortitude Family Office LLC increased its holdings in shares of Charles Schwab by 97.5% in the 2nd quarter. Fortitude Family Office LLC now owns 389 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 192 shares in the last quarter. American Capital Advisory LLC bought a new stake in shares of Charles Schwab in the second quarter worth $27,000. CGC Financial Services LLC bought a new stake in shares of Charles Schwab in the second quarter worth $29,000. Finally, Mizuho Securities Co. Ltd. bought a new stake in shares of Charles Schwab in the second quarter worth $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.