Charles Schwab (NYSE:SCHW) Price Target Increased to $75.00 by Analysts at Cowen

Charles Schwab (NYSE:SCHW) had its price objective boosted by Cowen from $69.00 to $75.00 in a research note issued to investors on Tuesday. They currently have a hold rating on the financial services provider’s stock.

A number of other equities analysts also recently weighed in on SCHW. Piper Sandler downgraded Charles Schwab from an overweight rating to a neutral rating and lowered their price target for the stock from $80.00 to $64.00 in a research report on Monday, July 29th. TD Cowen restated a hold rating and set a $71.00 price objective (down previously from $88.00) on shares of Charles Schwab in a report on Wednesday, July 17th. JMP Securities reduced their price objective on Charles Schwab from $85.00 to $82.00 and set a market outperform rating for the company in a report on Tuesday, July 23rd. JPMorgan Chase & Co. reduced their price objective on Charles Schwab from $82.00 to $78.00 and set an overweight rating for the company in a report on Wednesday, July 17th. Finally, UBS Group reduced their price objective on Charles Schwab from $91.00 to $90.00 and set a buy rating for the company in a report on Tuesday, July 9th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of Hold and a consensus target price of $71.82.

Charles Schwab Price Performance

Shares of NYSE SCHW opened at $71.96 on Tuesday. The business’s 50 day moving average price is $64.42 and its two-hundred day moving average price is $69.49. The company has a market cap of $127.98 billion, a PE ratio of 29.86, a price-to-earnings-growth ratio of 1.43 and a beta of 0.97. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 0.65. Charles Schwab has a twelve month low of $48.66 and a twelve month high of $79.49.

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

Charles Schwab Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Friday, August 9th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.39%. The ex-dividend date was Friday, August 9th. Charles Schwab’s dividend payout ratio (DPR) is currently 41.49%.

Insider Activity at Charles Schwab

In other Charles Schwab news, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the company’s stock in a transaction on Friday, July 19th. The stock was sold at an average price of $61.96, for a total transaction of $557,640.00. Following the completion of the sale, the director now directly owns 567,057 shares in the company, valued at $35,134,851.72. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Charles Schwab news, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the company’s stock in a transaction on Friday, July 19th. The stock was sold at an average price of $61.96, for a total transaction of $557,640.00. Following the completion of the sale, the director now directly owns 567,057 shares in the company, valued at $35,134,851.72. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Charles R. Schwab sold 67,386 shares of the company’s 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 sale, the chairman now owns 60,619,371 shares of the company’s stock, valued at $3,946,927,245.81. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 98,856 shares of company stock worth $6,398,604. Company insiders own 6.60% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. M&G Plc acquired a new position in shares of Charles Schwab during the first quarter worth $11,452,000. Teewinot Capital Advisers L.L.C. increased its holdings in Charles Schwab by 9.0% in the second quarter. Teewinot Capital Advisers L.L.C. now owns 775,161 shares of the financial services provider’s stock valued at $57,122,000 after purchasing an additional 64,041 shares during the period. Daiwa Securities Group Inc. increased its holdings in Charles Schwab by 10.4% in the first quarter. Daiwa Securities Group Inc. now owns 190,597 shares of the financial services provider’s stock valued at $13,788,000 after purchasing an additional 17,925 shares during the period. Wedmont Private Capital increased its holdings in Charles Schwab by 12.2% in the first quarter. Wedmont Private Capital now owns 13,130 shares of the financial services provider’s stock valued at $949,000 after purchasing an additional 1,430 shares during the period. Finally, Iowa State Bank increased its holdings in Charles Schwab by 37.9% in the third quarter. Iowa State Bank now owns 28,476 shares of the financial services provider’s stock valued at $1,846,000 after purchasing an additional 7,829 shares during the period. 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.