Charles Schwab (NYSE:SCHW) Upgraded by Citigroup to Buy Rating

Charles Schwab (NYSE:SCHW) was upgraded by stock analysts at Citigroup from a “neutral” rating to a “buy” rating in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm presently has a $102.00 price target on the financial services provider’s stock, up from their previous price target of $85.00. Citigroup’s target price indicates a potential upside of 31.34% from the stock’s current price.

Other research analysts have also issued reports about the stock. Barclays lifted their price objective on shares of Charles Schwab from $95.00 to $96.00 and gave the company an “overweight” rating in a research note on Wednesday, January 22nd. Truist Financial boosted their price target on Charles Schwab from $90.00 to $91.00 and gave the company a “buy” rating in a research report on Tuesday, February 11th. TD Cowen raised Charles Schwab from a “hold” rating to a “buy” rating and increased their price objective for the stock from $88.00 to $103.00 in a research report on Tuesday, February 18th. Piper Sandler boosted their target price on Charles Schwab from $65.00 to $70.00 and gave the company a “neutral” rating in a report on Tuesday, January 7th. Finally, Jefferies Financial Group increased their price target on Charles Schwab from $84.00 to $94.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $87.28.

Charles Schwab Stock Down 0.8 %

Shares of NYSE SCHW opened at $77.66 on Wednesday. The business has a 50-day moving average price of $79.52 and a 200 day moving average price of $75.67. The stock has a market cap of $140.84 billion, a PE ratio of 25.97, a price-to-earnings-growth ratio of 0.99 and a beta of 0.98. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 0.59. Charles Schwab has a 52-week low of $61.01 and a 52-week high of $84.50.

Charles Schwab (NYSE:SCHW) last posted its quarterly earnings data on Tuesday, January 21st. The financial services provider reported $1.01 earnings per share for the quarter, beating the consensus estimate of $0.90 by $0.11. The business had revenue of $5.33 billion during the quarter, compared to the consensus estimate of $5.19 billion. Charles Schwab had a return on equity of 18.20% and a net margin of 30.31%. The company’s revenue was up 19.5% compared to the same quarter last year. During the same period in the prior year, the company earned $0.68 earnings per share. Equities research analysts forecast that Charles Schwab will post 4.22 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Paul V. Woolway sold 9,887 shares of the company’s stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $75.38, for a total value of $745,282.06. Following the sale, the insider now owns 47,931 shares in the company, valued at $3,613,038.78. This represents a 17.10 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Chairman Walter W. Bettinger sold 464,629 shares of Charles Schwab stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $81.91, for a total value of $38,057,761.39. Following the transaction, the chairman now directly owns 827,377 shares of the company’s stock, valued at approximately $67,770,450.07. This represents a 35.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 509,701 shares of company stock worth $41,641,353. 6.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On Charles Schwab

A number of large investors have recently added to or reduced their stakes in the business. Murphy & Mullick Capital Management Corp acquired a new position in Charles Schwab during the fourth quarter worth about $38,000. Atala Financial Inc acquired a new position in shares of Charles Schwab during the 4th quarter worth approximately $41,000. Knuff & Co LLC lifted its stake in Charles Schwab by 1,309.3% in the 4th quarter. Knuff & Co LLC now owns 606 shares of the financial services provider’s stock valued at $45,000 after buying an additional 563 shares in the last quarter. Financial Life Planners acquired a new stake in Charles Schwab during the 4th quarter valued at $46,000. Finally, Whipplewood Advisors LLC purchased a new position in Charles Schwab during the fourth quarter worth $46,000. 84.38% of the stock is 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.