Piper Sandler Forecasts Strong Price Appreciation for Charles Schwab (NYSE:SCHW) Stock

Charles Schwab (NYSE:SCHW) had its price target lifted by Piper Sandler from $65.00 to $70.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage presently has a “neutral” rating on the financial services provider’s stock. Piper Sandler’s target price points to a potential downside of 4.02% from the company’s current price.

Several other equities analysts also recently issued reports on SCHW. The Goldman Sachs Group upped their target price on Charles Schwab from $67.00 to $74.00 and gave the company a “neutral” rating in a research report on Wednesday, October 16th. Deutsche Bank Aktiengesellschaft raised their price objective on Charles Schwab from $77.00 to $80.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. Citigroup cut their price target on shares of Charles Schwab from $75.00 to $72.00 and set a “neutral” rating on the stock in a report on Friday, September 27th. Jefferies Financial Group raised their price target on shares of Charles Schwab from $84.00 to $94.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Finally, Barclays raised shares of Charles Schwab from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $74.00 to $95.00 in a report on Monday, December 9th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $81.19.

Charles Schwab Trading Up 0.9 %

Shares of NYSE:SCHW opened at $72.93 on Tuesday. The business’s 50-day moving average is $77.49 and its 200 day moving average is $70.63. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.47 and a quick ratio of 0.47. Charles Schwab has a 1 year low of $59.67 and a 1 year high of $83.35. The firm has a market capitalization of $129.79 billion, a P/E ratio of 28.49, a P/E/G ratio of 1.76 and a beta of 0.99.

Charles Schwab (NYSE:SCHW) last posted its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $0.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.75 by $0.02. The firm had revenue of $4.85 billion for the quarter, compared to the consensus estimate of $4.78 billion. Charles Schwab had a net margin of 27.47% and a return on equity of 16.92%. The company’s revenue for the quarter was up 5.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.77 earnings per share. On average, research analysts predict that Charles Schwab will post 3.12 earnings per share for the current fiscal year.

Insider Activity at Charles Schwab

In other Charles Schwab news, insider Nigel J. Murtagh sold 12,739 shares of the stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $81.17, for a total transaction of $1,034,024.63. Following the completion of the transaction, the insider now owns 59,092 shares of the company’s stock, valued at $4,796,497.64. This represents a 17.73 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jonathan S. Beatty sold 2,300 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $82.01, for a total value of $188,623.00. Following the completion of the transaction, the insider now owns 18,069 shares in the company, valued at approximately $1,481,838.69. This trade represents a 11.29 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 118,968 shares of company stock valued at $8,842,821. 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 SCHW. Benjamin Edwards Inc. lifted its stake in Charles Schwab by 2,840.7% in the 3rd quarter. Benjamin Edwards Inc. now owns 6,146 shares of the financial services provider’s stock worth $398,000 after purchasing an additional 5,937 shares in the last quarter. Synovus Financial Corp lifted its position in Charles Schwab by 46.0% during the third quarter. Synovus Financial Corp now owns 67,889 shares of the financial services provider’s stock worth $4,400,000 after buying an additional 21,377 shares in the last quarter. Patten & Patten Inc. TN boosted its stake in Charles Schwab by 155.9% during the third quarter. Patten & Patten Inc. TN now owns 104,168 shares of the financial services provider’s stock worth $6,751,000 after buying an additional 63,463 shares during the last quarter. Equity Investment Corp grew its holdings in Charles Schwab by 9.4% in the 3rd quarter. Equity Investment Corp now owns 1,640,157 shares of the financial services provider’s stock valued at $106,299,000 after buying an additional 140,643 shares in the last quarter. Finally, Teewinot Capital Advisers L.L.C. raised its holdings in shares of Charles Schwab by 9.0% during the 2nd quarter. Teewinot Capital Advisers L.L.C. now owns 775,161 shares of the financial services provider’s stock worth $57,122,000 after acquiring an additional 64,041 shares during the period. 84.38% of the stock is owned by hedge funds and other institutional investors.

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.