Charles Schwab (NYSE:SCHW) Price Target Increased to $70.00 by Analysts at Bank of America

Charles Schwab (NYSE:SCHW) had its target price increased by Bank of America from $68.00 to $70.00 in a research report sent to investors on Tuesday, Benzinga reports. They currently have an underperform rating on the financial services provider’s stock.

A number of other research analysts have also commented on SCHW. Barclays raised their price objective on shares of Charles Schwab from $68.00 to $74.00 and gave the company an equal weight rating in a research note on Monday, April 8th. TD Cowen raised Charles Schwab from a market perform rating to an outperform rating and set a $87.00 price target for the company in a research note on Friday, March 22nd. Raymond James dropped their price objective on Charles Schwab from $78.00 to $75.00 and set an outperform rating on the stock in a research note on Thursday, January 18th. Deutsche Bank Aktiengesellschaft raised their target price on Charles Schwab from $75.00 to $77.00 and gave the company a buy rating in a research note on Tuesday, March 19th. Finally, JMP Securities boosted their price target on shares of Charles Schwab from $77.00 to $80.00 and gave the stock a market outperform rating in a research report on Tuesday, April 9th. Three analysts have rated the stock with a sell rating, six have issued a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, Charles Schwab has a consensus rating of Hold and an average price target of $74.47.

Charles Schwab Trading Up 0.7 %

NYSE:SCHW opened at $73.42 on Tuesday. The stock has a market cap of $130.40 billion, a price-to-earnings ratio of 30.72, a PEG ratio of 1.06 and a beta of 1.01. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.43 and a current ratio of 0.43. Charles Schwab has a 1 year low of $45.65 and a 1 year high of $73.88. The business has a fifty day moving average of $68.58 and a 200-day moving average of $63.02.

Charles Schwab (NYSE:SCHW) last announced its earnings results on Wednesday, January 17th. The financial services provider reported $0.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.64 by $0.04. Charles Schwab had a net margin of 26.14% and a return on equity of 19.86%. The firm had revenue of $4.46 billion during the quarter, compared to analyst estimates of $4.49 billion. During the same quarter in the prior year, the firm posted $1.07 EPS. Charles Schwab’s revenue was down 18.9% compared to the same quarter last year. Equities analysts predict that Charles Schwab will post 3.43 earnings per share for the current year.

Charles Schwab Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 23rd. Shareholders of record on Friday, February 9th were given a dividend of $0.25 per share. The ex-dividend date was Thursday, February 8th. This represents a $1.00 dividend on an annualized basis and a yield of 1.36%. Charles Schwab’s payout ratio is presently 41.84%.

Insider Activity

In related news, Chairman Charles R. Schwab sold 16,390 shares of the firm’s stock in a transaction that occurred on Wednesday, January 24th. The shares were sold at an average price of $63.94, for a total transaction of $1,047,976.60. Following the completion of the sale, the chairman now directly owns 61,331,688 shares in the company, valued at $3,921,548,130.72. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Charles Schwab news, Chairman Charles R. Schwab sold 16,390 shares of Charles Schwab stock in a transaction on Wednesday, January 24th. The shares were sold at an average price of $63.94, for a total transaction of $1,047,976.60. Following the completion of the sale, the chairman now owns 61,331,688 shares of the company’s stock, valued at approximately $3,921,548,130.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Chairman Charles R. Schwab sold 71,226 shares of the company’s stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $64.99, for a total transaction of $4,628,977.74. Following the completion of the transaction, the chairman now directly owns 61,251,038 shares in the company, valued at $3,980,704,959.62. The disclosure for this sale can be found here. Insiders have sold 312,800 shares of company stock worth $21,081,569 in the last 90 days. Company insiders own 6.60% of the company’s stock.

Institutional Investors Weigh In On Charles Schwab

Several institutional investors have recently made changes to their positions in the company. Providence Capital Advisors LLC bought a new position in Charles Schwab during the third quarter valued at approximately $28,000. Main Street Group LTD bought a new position in shares of Charles Schwab during the 4th quarter valued at $29,000. Sugarloaf Wealth Management LLC raised its holdings in shares of Charles Schwab by 60.0% during the 4th quarter. Sugarloaf Wealth Management LLC now owns 440 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 165 shares in the last quarter. Frazier Financial Advisors LLC acquired a new stake in shares of Charles Schwab in the 4th quarter valued at $30,000. Finally, Wetzel Investment Advisors Inc. bought a new stake in Charles Schwab in the fourth quarter worth $31,000. 84.38% of the stock is currently owned by institutional investors and hedge funds.

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.