Truist Financial Cuts Charles Schwab (NYSE:SCHW) Price Target to $85.00

Charles Schwab (NYSE:SCHW) had its target price reduced by Truist Financial from $91.00 to $85.00 in a research report report published on Friday,Benzinga reports. Truist Financial currently has a buy rating on the financial services provider’s stock.

Several other equities analysts have also recently commented on the stock. Citigroup raised shares of Charles Schwab from a “neutral” rating to a “buy” rating and raised their price target for the company from $85.00 to $102.00 in a research report on Wednesday. Redburn Partners decreased their target price on Charles Schwab from $70.00 to $68.00 and set a “sell” rating for the company in a report on Friday, January 17th. Deutsche Bank Aktiengesellschaft upped their price target on Charles Schwab from $98.00 to $105.00 and gave the stock a “buy” rating in a report on Wednesday, January 22nd. JMP Securities reiterated a “market outperform” rating and issued a $94.00 price objective (up previously from $84.00) on shares of Charles Schwab in a research note on Monday, December 9th. Finally, Barclays upped 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. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, Charles Schwab presently has an average rating of “Moderate Buy” and an average target price of $86.94.

Charles Schwab Trading Down 7.7 %

SCHW opened at $69.07 on Friday. 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 firm has a market cap of $125.26 billion, a P/E ratio of 23.10, a P/E/G ratio of 0.99 and a beta of 0.91. Charles Schwab has a 52 week low of $61.01 and a 52 week high of $84.50. The business has a fifty day simple moving average of $79.09 and a 200-day simple moving average of $75.73.

Charles Schwab (NYSE:SCHW) last released its earnings results 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 company 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%. Charles Schwab’s revenue was up 19.5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.68 EPS. On average, equities analysts expect that Charles Schwab will post 4.22 earnings per share for the current year.

Charles Schwab Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 14th were paid a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 1.56%. The ex-dividend date of this dividend was Friday, February 14th. This is an increase from Charles Schwab’s previous quarterly dividend of $0.25. Charles Schwab’s dividend payout ratio (DPR) is currently 36.12%.

Insiders Place Their Bets

In other Charles Schwab news, insider Paul V. Woolway sold 3,380 shares of Charles Schwab stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $77.43, for a total value of $261,713.40. Following the transaction, the insider now directly owns 45,824 shares in the company, valued at approximately $3,548,152.32. The trade was a 6.87 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, General Counsel Peter J. Morgan III sold 14,643 shares of the firm’s stock in a transaction dated Wednesday, January 22nd. The stock was sold at an average price of $80.70, for a total value of $1,181,690.10. The disclosure for this sale can be found here. Insiders have sold a total of 513,081 shares of company stock valued at $41,903,066 over the last quarter. Company insiders own 6.60% of the company’s stock.

Institutional Investors Weigh In On Charles Schwab

Several hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. raised its position in Charles Schwab by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 128,578,230 shares of the financial services provider’s stock worth $9,516,075,000 after buying an additional 1,187,384 shares during the last quarter. Geode Capital Management LLC lifted its position in Charles Schwab by 2.5% in the fourth quarter. Geode Capital Management LLC now owns 30,901,484 shares of the financial services provider’s stock valued at $2,279,742,000 after purchasing an additional 760,043 shares during the period. Franklin Resources Inc. lifted its position in Charles Schwab by 15.0% in the third quarter. Franklin Resources Inc. now owns 24,261,234 shares of the financial services provider’s stock valued at $1,644,674,000 after purchasing an additional 3,157,923 shares during the period. Fisher Asset Management LLC boosted its holdings in Charles Schwab by 1.3% in the 4th 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 in the last quarter. Finally, Norges Bank acquired a new position in Charles Schwab during the 4th quarter worth approximately $1,289,544,000. 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.