Charles Schwab (NYSE:SCHW) Price Target Raised to $84.00 at Morgan Stanley

Charles Schwab (NYSE:SCHW) had its price target hoisted by Morgan Stanley from $74.00 to $84.00 in a report issued on Friday morning. They currently have an equal weight rating on the financial services provider’s stock.

SCHW has been the topic of a number of other research reports. Barclays upgraded Charles Schwab from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $74.00 to $95.00 in a research report on Monday, December 9th. Jefferies Financial Group upped their target price on Charles Schwab from $84.00 to $94.00 and gave the company a “buy” rating in a report on Monday, December 9th. Keefe, Bruyette & Woods raised their price target on shares of Charles Schwab from $81.00 to $93.00 and gave the stock an “outperform” rating in a report on Friday, December 20th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Charles Schwab from $77.00 to $80.00 and gave the company a “buy” rating in a research note on Monday, November 11th. 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 research report on Wednesday, October 16th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $81.41.

Charles Schwab Stock Up 1.4 %

NYSE:SCHW opened at $76.53 on Friday. Charles Schwab has a one year low of $61.01 and a one year high of $83.35. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.47 and a quick ratio of 0.47. The company has a market cap of $136.20 billion, a PE ratio of 29.90, a P/E/G ratio of 1.19 and a beta of 0.99. The firm’s 50 day simple moving average is $77.63 and its 200 day simple moving average is $70.63.

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 analysts’ consensus estimates of $0.75 by $0.02. The company had revenue of $4.85 billion for the quarter, compared to analyst estimates of $4.78 billion. Charles Schwab had a net margin of 27.47% and a return on equity of 16.92%. Charles Schwab’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, research analysts anticipate that Charles Schwab will post 3.13 earnings per share for the current year.

Charles Schwab Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Friday, November 8th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.00 annualized dividend and a yield of 1.31%. Charles Schwab’s payout ratio is 39.06%.

Insider Buying and Selling at Charles Schwab

In related news, insider Jonathan S. Beatty sold 2,500 shares of the firm’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $77.02, for a total value of $192,550.00. Following the transaction, the insider now owns 18,069 shares of the company’s stock, valued at approximately $1,391,674.38. This trade represents a 12.15 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Nigel J. Murtagh sold 12,739 shares of the business’s 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 sale, the insider now directly owns 59,092 shares of the company’s stock, valued at $4,796,497.64. This represents a 17.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 26,823 shares of company stock valued at $2,171,194. Corporate insiders own 6.60% of the company’s stock.

Hedge Funds Weigh In On Charles Schwab

A number of hedge funds have recently bought and sold shares of SCHW. Benjamin Edwards Inc. lifted its position in shares of Charles Schwab by 2,840.7% during the third quarter. Benjamin Edwards Inc. now owns 6,146 shares of the financial services provider’s stock valued at $398,000 after purchasing an additional 5,937 shares in the last quarter. Synovus Financial Corp increased its stake in Charles Schwab by 46.0% in the 3rd quarter. Synovus Financial Corp now owns 67,889 shares of the financial services provider’s stock valued at $4,400,000 after buying an additional 21,377 shares during the last quarter. Patten & Patten Inc. TN lifted its position in shares of Charles Schwab by 155.9% during the 3rd quarter. Patten & Patten Inc. TN now owns 104,168 shares of the financial services provider’s stock worth $6,751,000 after buying an additional 63,463 shares in the last quarter. Equity Investment Corp boosted its stake in shares of Charles Schwab by 9.4% in the 3rd quarter. Equity Investment Corp now owns 1,640,157 shares of the financial services provider’s stock worth $106,299,000 after buying an additional 140,643 shares during the last quarter. Finally, Teewinot Capital Advisers L.L.C. grew its holdings in shares of 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 acquiring an additional 64,041 shares in the last quarter. 84.38% of the stock is owned by hedge funds and other institutional investors.

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.