Charles Schwab (NYSE:SCHW) Given New $91.00 Price Target at Morgan Stanley

Charles Schwab (NYSE:SCHW) had its target price upped by research analysts at Morgan Stanley from $84.00 to $91.00 in a report released on Thursday,Benzinga reports. The brokerage presently has an “equal weight” rating on the financial services provider’s stock. Morgan Stanley’s target price suggests a potential upside of 11.26% from the stock’s current price.

A number of other research firms have also recently weighed in on SCHW. Wells Fargo & Company upgraded Charles Schwab from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $89.00 to $93.00 in a report on Wednesday, January 22nd. Barclays increased their target price on shares of Charles Schwab from $95.00 to $96.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 22nd. Keefe, Bruyette & Woods upped their price objective 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. Truist Financial reiterated a “buy” rating and issued a $90.00 target price (up previously from $86.00) on shares of Charles Schwab in a report on Wednesday, January 22nd. Finally, JMP Securities restated a “market outperform” rating and set a $94.00 price target (up from $84.00) on shares of Charles Schwab in a research note on Monday, December 9th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $84.50.

Charles Schwab Stock Down 0.0 %

Shares of SCHW opened at $81.79 on Thursday. Charles Schwab has a 52-week low of $61.01 and a 52-week high of $83.84. 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 stock has a fifty day simple moving average of $77.97 and a two-hundred day simple moving average of $71.57. The company has a market capitalization of $145.57 billion, a PE ratio of 27.36, a price-to-earnings-growth ratio of 1.01 and a beta of 0.99.

Charles Schwab (NYSE:SCHW) last released its quarterly earnings data on Tuesday, January 21st. The financial services provider reported $1.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.90 by $0.11. The firm had revenue of $5.33 billion during the quarter, compared to analysts’ expectations of $5.19 billion. Charles Schwab had a net margin of 30.31% and a return on equity of 18.20%. Charles Schwab’s revenue was up 19.5% compared to the same quarter last year. During the same period last year, the business earned $0.68 earnings per share. As a group, equities analysts forecast that Charles Schwab will post 4.18 EPS for the current year.

Insider Activity

In other news, General Counsel Peter J. Morgan III sold 14,643 shares of the company’s stock in a transaction that occurred on Wednesday, January 22nd. The stock was sold at an average price of $80.70, for a total transaction of $1,181,690.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jonathan S. Beatty sold 2,300 shares of the company’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $82.01, for a total transaction of $188,623.00. Following the transaction, the insider now owns 18,069 shares of the company’s stock, valued at approximately $1,481,838.69. The trade was a 11.29 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 50,014 shares of company stock worth $4,052,281. 6.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Charles Schwab

Large investors have recently made changes to their positions in the stock. State Street Corp lifted its position in shares of Charles Schwab by 0.7% during the 3rd quarter. State Street Corp now owns 62,076,447 shares of the financial services provider’s stock valued at $4,023,175,000 after acquiring an additional 414,949 shares during the period. Geode Capital Management LLC increased its stake in Charles Schwab by 1.5% in the 3rd quarter. Geode Capital Management LLC now owns 30,141,441 shares of the financial services provider’s stock valued at $1,945,614,000 after purchasing an additional 445,304 shares in the last quarter. Massachusetts Financial Services Co. MA raised its holdings in Charles Schwab by 6.3% during the third quarter. Massachusetts Financial Services Co. MA now owns 28,679,305 shares of the financial services provider’s stock worth $1,858,706,000 after purchasing an additional 1,711,312 shares during the last quarter. Franklin Resources Inc. boosted its position in Charles Schwab by 15.0% during the third quarter. Franklin Resources Inc. now owns 24,261,234 shares of the financial services provider’s stock worth $1,644,674,000 after purchasing an additional 3,157,923 shares in the last quarter. Finally, Fisher Asset Management LLC grew its holdings in Charles Schwab by 1.3% in the fourth quarter. Fisher Asset Management LLC now owns 20,455,266 shares of the financial services provider’s stock valued at $1,513,894,000 after purchasing an additional 265,708 shares during the last quarter. Hedge funds and other institutional investors own 84.38% of the company’s stock.

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.