Charles Schwab (NYSE:SCHW) Price Target Cut to $84.00 by Analysts at Barclays

Charles Schwab (NYSE:SCHW) had its price target cut by investment analysts at Barclays from $96.00 to $84.00 in a research report issued on Monday,Benzinga reports. The firm presently has an “overweight” rating on the financial services provider’s stock. Barclays‘s target price suggests a potential upside of 21.56% from the stock’s previous close.

Other research analysts also recently issued reports about the company. Morgan Stanley lifted their price target on Charles Schwab from $84.00 to $91.00 and gave the company an “equal weight” rating in a report on Thursday, February 6th. Piper Sandler lifted their target price on Charles Schwab from $65.00 to $70.00 and gave the company a “neutral” rating in a research note on Tuesday, January 7th. Keefe, Bruyette & Woods increased their price target on shares of Charles Schwab from $81.00 to $93.00 and gave the company an “outperform” rating in a research report on Friday, December 20th. Redburn Partners cut their price objective on shares of Charles Schwab from $70.00 to $68.00 and set a “sell” rating on the stock in a research report on Friday, January 17th. Finally, Wells Fargo & Company raised shares of Charles Schwab from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $89.00 to $93.00 in a research report on Wednesday, January 22nd. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $86.28.

Charles Schwab Stock Performance

SCHW traded up $0.04 during midday trading on Monday, hitting $69.10. 5,561,828 shares of the company traded hands, compared to its average volume of 9,015,820. The firm has a market capitalization of $125.32 billion, a PE ratio of 23.10, a price-to-earnings-growth 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 company’s 50-day moving average is $79.09 and its 200 day moving average is $75.90. 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 (NYSE:SCHW) last released its quarterly 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 business had revenue of $5.33 billion during the quarter, compared to analysts’ expectations of $5.19 billion. Charles Schwab had a return on equity of 18.20% and a net margin of 30.31%. The firm’s revenue for the quarter was up 19.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.68 EPS. On average, research analysts expect that Charles Schwab will post 4.22 EPS for the current year.

Insiders Place Their Bets

In related 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 transaction of $261,713.40. Following the sale, the insider now directly owns 45,824 shares in the company, valued at $3,548,152.32. This trade represents a 6.87 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Arun Sarin sold 8,548 shares of the business’s stock in a transaction dated Thursday, January 23rd. The shares were sold at an average price of $81.82, for a total value of $699,397.36. Following the completion of the sale, the director now directly owns 18,617 shares of the company’s stock, valued at $1,523,242.94. The trade was a 31.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 513,081 shares of company stock worth $41,903,066 over the last three months. Company insiders own 6.60% of the company’s stock.

Institutional Investors Weigh In On Charles Schwab

Several large investors have recently modified their holdings of SCHW. Norges Bank purchased a new stake in shares of Charles Schwab during the fourth quarter worth approximately $1,289,544,000. Kovitz Investment Group Partners LLC raised its holdings in Charles Schwab by 354.5% during the fourth quarter. Kovitz Investment Group Partners LLC now owns 11,005,881 shares of the financial services provider’s stock worth $814,545,000 after purchasing an additional 8,584,173 shares during the last quarter. FMR LLC raised its stake in shares of Charles Schwab by 69.4% during the 4th quarter. FMR LLC now owns 9,700,013 shares of the financial services provider’s stock worth $717,898,000 after buying an additional 3,974,940 shares during the last quarter. Marshall Wace LLP lifted its holdings in shares of Charles Schwab by 742.0% in the fourth quarter. Marshall Wace LLP now owns 4,181,202 shares of the financial services provider’s stock valued at $309,451,000 after purchasing an additional 3,684,640 shares in the last quarter. Finally, Primecap Management Co. CA grew its holdings in Charles Schwab by 310.3% during the 4th quarter. Primecap Management Co. CA now owns 4,252,350 shares of the financial services provider’s stock valued at $314,716,000 after buying an additional 3,216,000 shares during the last quarter. 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.