Citigroup Issues Positive Forecast for Charles Schwab (NYSE:SCHW) Stock Price

Charles Schwab (NYSE:SCHW) had its target price upped by equities researchers at Citigroup from $80.00 to $85.00 in a research report issued on Wednesday,Benzinga reports. The firm currently has a “neutral” rating on the financial services provider’s stock. Citigroup’s price objective would indicate a potential upside of 3.71% from the stock’s current price.

SCHW has been the subject of a number of other research reports. Piper Sandler raised 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. Jefferies Financial Group raised 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. Wells Fargo & Company cut their price target on Charles Schwab from $90.00 to $89.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 14th. Redburn Partners cut their price target on Charles Schwab from $70.00 to $68.00 and set a “sell” rating for the company in a research note on Friday, January 17th. Finally, Morgan Stanley lifted their price target on Charles Schwab from $74.00 to $84.00 and gave the stock an “equal weight” rating in a research note on Friday, January 17th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $83.83.

Charles Schwab Price Performance

Shares of NYSE SCHW opened at $81.96 on Wednesday. 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 stock has a fifty day moving average price of $77.75 and a 200 day moving average price of $70.75. Charles Schwab has a 1-year low of $61.01 and a 1-year high of $83.35. The company has a market cap of $145.86 billion, a PE ratio of 27.41, a P/E/G ratio of 1.48 and a beta of 0.99.

Charles Schwab (NYSE:SCHW) last released its earnings results on Tuesday, January 21st. The financial services provider reported $1.01 EPS for the quarter, beating analysts’ consensus estimates of $0.90 by $0.11. Charles Schwab had a return on equity of 18.20% and a net margin of 30.31%. The company had revenue of $5.33 billion during the quarter, compared to the consensus estimate of $5,190,822.51 billion. During the same quarter last year, the company earned $0.68 earnings per share. Charles Schwab’s quarterly revenue was up 19.5% compared to the same quarter last year. Sell-side analysts forecast that Charles Schwab will post 4.04 EPS for the current year.

Insider Buying and Selling at Charles Schwab

In other Charles Schwab news, insider Nigel J. Murtagh sold 12,739 shares of Charles Schwab stock in a transaction dated 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 completion of the sale, the insider now owns 59,092 shares in the company, valued at $4,796,497.64. The trade was a 17.73 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Jonathan S. Beatty sold 2,500 shares of Charles Schwab 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 completion of the sale, the insider now owns 18,069 shares of the company’s stock, valued at $1,391,674.38. This trade represents a 12.15 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 26,823 shares of company stock worth $2,171,194 in the last 90 days. 6.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On Charles Schwab

Several hedge funds and other institutional investors have recently modified their holdings of the company. State Street Corp lifted its position in 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 worth $4,023,175,000 after acquiring an additional 414,949 shares in the last quarter. Geode Capital Management LLC lifted its position in Charles Schwab by 1.5% during the 3rd quarter. Geode Capital Management LLC now owns 30,141,441 shares of the financial services provider’s stock worth $1,945,614,000 after acquiring an additional 445,304 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its position in Charles Schwab by 6.3% during the 3rd 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 acquiring an additional 1,711,312 shares in the last quarter. Franklin Resources Inc. lifted its position in Charles Schwab by 15.0% during the 3rd quarter. Franklin Resources Inc. now owns 24,261,234 shares of the financial services provider’s stock worth $1,644,674,000 after acquiring an additional 3,157,923 shares in the last quarter. Finally, Fisher Asset Management LLC lifted its position in Charles Schwab by 2.5% during the 3rd quarter. Fisher Asset Management LLC now owns 20,189,558 shares of the financial services provider’s stock worth $1,308,485,000 after acquiring an additional 493,264 shares in 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.