Charles Schwab (NYSE:SCHW) Given New $70.00 Price Target at Piper Sandler

Charles Schwab (NYSE:SCHW) had its price target boosted by Piper Sandler from $65.00 to $70.00 in a report issued on Tuesday morning,Benzinga reports. Piper Sandler currently has a neutral rating on the financial services provider’s stock.

Other analysts also recently issued reports about the stock. Raymond James reduced their price target on shares of Charles Schwab from $76.00 to $73.00 in a report on Tuesday, October 15th. Keefe, Bruyette & Woods increased their target price on shares of Charles Schwab from $81.00 to $93.00 and gave the company an “outperform” rating in a research note on Friday, December 20th. Morgan Stanley lifted their target price on Charles Schwab from $68.00 to $74.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 24th. Wells Fargo & Company upped their price target on Charles Schwab from $75.00 to $90.00 and gave the company an “equal weight” rating in a report on Thursday, December 12th. Finally, The Goldman Sachs Group lifted their price objective on Charles Schwab from $67.00 to $74.00 and gave the stock a “neutral” rating in a report on Wednesday, October 16th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, Charles Schwab presently has a consensus rating of “Hold” and an average target price of $81.19.

Charles Schwab Trading Down 3.1 %

Shares of NYSE:SCHW opened at $72.15 on Tuesday. Charles Schwab has a 52-week low of $59.67 and a 52-week high of $83.35. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.47 and a current ratio of 0.47. The company has a market cap of $128.40 billion, a P/E ratio of 28.18, a P/E/G ratio of 1.76 and a beta of 0.99. The stock’s 50-day moving average is $77.45 and its 200-day moving average is $70.62.

Charles Schwab (NYSE:SCHW) last issued its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $0.77 EPS for the quarter, topping the consensus estimate of $0.75 by $0.02. Charles Schwab had a return on equity of 16.92% and a net margin of 27.47%. The company had revenue of $4.85 billion for the quarter, compared to the consensus estimate of $4.78 billion. During the same period in the previous year, the business posted $0.77 EPS. The company’s revenue for the quarter was up 5.2% on a year-over-year basis. Equities research analysts predict that Charles Schwab will post 3.12 earnings per share for the current year.

Charles Schwab Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Friday, November 8th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.39%. The ex-dividend date of this dividend was Friday, November 8th. Charles Schwab’s payout ratio is 39.06%.

Insider Activity at Charles Schwab

In related news, insider Jonathan S. Beatty sold 2,500 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $77.02, for a total value of $192,550.00. Following the completion of the sale, the insider now owns 18,069 shares of the company’s stock, valued at $1,391,674.38. This trade represents a 12.15 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Nigel J. Murtagh sold 12,739 shares of the company’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $81.17, for a total value of $1,034,024.63. Following the transaction, the insider now directly owns 59,092 shares in the company, valued at approximately $4,796,497.64. This represents a 17.73 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 118,968 shares of company stock valued at $8,842,821 in the last three months. Corporate insiders own 6.60% of the company’s stock.

Institutional Investors Weigh In On Charles Schwab

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Washington Trust Advisors Inc. raised its holdings in Charles Schwab by 62.6% during the 3rd quarter. Washington Trust Advisors Inc. now owns 387 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 149 shares during the last quarter. Capital Performance Advisors LLP bought a new stake in shares of Charles Schwab during the third quarter worth approximately $25,000. Prospera Private Wealth LLC acquired a new position in Charles Schwab in the third quarter valued at approximately $31,000. Future Financial Wealth Managment LLC bought a new position in Charles Schwab in the third quarter valued at approximately $32,000. Finally, Hazlett Burt & Watson Inc. acquired a new stake in Charles Schwab during the 3rd quarter worth $33,000. Institutional investors own 84.38% of the company’s stock.

Charles Schwab Company Profile

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.