Citigroup Raises Charles Schwab (NYSE:SCHW) Price Target to $85.00

Charles Schwab (NYSE:SCHW) had its price target upped by equities research analysts at Citigroup from $80.00 to $85.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a “neutral” rating on the financial services provider’s stock. Citigroup’s price target would indicate a potential upside of 5.10% from the stock’s previous close.

Several other analysts have also issued reports on the stock. Jefferies Financial Group upped their target price on shares of Charles Schwab from $84.00 to $94.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. StockNews.com raised shares of Charles Schwab from a “sell” rating to a “hold” rating in a research report on Wednesday, October 16th. Barclays raised shares of Charles Schwab from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $74.00 to $95.00 in a research report on Monday, December 9th. Wells Fargo & Company dropped their price objective on Charles Schwab from $90.00 to $89.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 14th. Finally, Truist Financial raised Charles Schwab to a “strong-buy” rating in a research report on Monday, January 6th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $83.47.

Charles Schwab Price Performance

Shares of NYSE:SCHW opened at $80.88 on Wednesday. The stock’s 50 day moving average is $77.65 and its 200-day moving average is $70.62. Charles Schwab has a twelve month low of $61.01 and a twelve month high of $83.35. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 0.59. The firm has a market capitalization of $143.93 billion, a price-to-earnings ratio of 31.59, a PEG ratio of 1.40 and a beta of 0.99.

Charles Schwab (NYSE:SCHW) last issued its quarterly earnings data on Tuesday, January 21st. The financial services provider reported $1.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.90 by $0.11. Charles Schwab had a net margin of 27.47% and a return on equity of 16.92%. The firm had revenue of $5.33 billion during the quarter, compared to analysts’ expectations of $5,190,822.51 billion. During the same period last year, the company earned $0.68 earnings per share. The business’s revenue was up 19.5% on a year-over-year basis. Sell-side analysts forecast that Charles Schwab will post 3.16 EPS for the current fiscal year.

Insiders Place Their Bets

In other Charles Schwab news, insider Nigel J. Murtagh sold 12,739 shares of Charles Schwab stock in a transaction that occurred 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 of the company’s stock, valued at $4,796,497.64. The trade was a 17.73 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jonathan S. Beatty sold 2,500 shares of the business’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $77.02, for a total transaction of $192,550.00. Following the completion of the transaction, the insider now owns 18,069 shares in the company, valued at $1,391,674.38. The trade was a 12.15 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 26,823 shares of company stock worth $2,171,194 in the last ninety days. 6.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Charles Schwab

Several hedge funds have recently made changes to their positions in the business. Washington Trust Advisors Inc. lifted its position in Charles Schwab by 62.6% during the third quarter. Washington Trust Advisors Inc. now owns 387 shares of the financial services provider’s stock valued at $25,000 after buying an additional 149 shares during the period. Capital Performance Advisors LLP bought a new stake in shares of Charles Schwab during the third quarter valued at approximately $25,000. Prospera Private Wealth LLC purchased a new position in shares of Charles Schwab in the third quarter worth $31,000. Future Financial Wealth Managment LLC purchased a new position in Charles Schwab in the 3rd quarter worth about $32,000. Finally, Hazlett Burt & Watson Inc. bought a new position in Charles Schwab during the third quarter valued at approximately $33,000. 84.38% of the stock is owned by hedge funds and other institutional investors.

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.