Charles Schwab (NYSE:SCHW) Price Target Raised to $93.00

Charles Schwab (NYSE:SCHW) had its target price boosted by JPMorgan Chase & Co. from $87.00 to $93.00 in a research note issued to investors on Tuesday morning,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the financial services provider’s stock.

A number of other equities analysts have also recently commented on the stock. Keefe, Bruyette & Woods lifted their target price on shares of Charles Schwab from $81.00 to $93.00 and gave the company an “outperform” rating in a report on Friday, December 20th. Citigroup dropped their price objective on shares of Charles Schwab from $75.00 to $72.00 and set a “neutral” rating on the stock in a research note on Friday, September 27th. Wells Fargo & Company increased their target price on shares of Charles Schwab from $75.00 to $90.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 12th. Piper Sandler boosted their price target on Charles Schwab from $65.00 to $70.00 and gave the company a “neutral” rating in a research report on Tuesday. Finally, Morgan Stanley increased their price objective on Charles Schwab from $68.00 to $74.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Charles Schwab currently has an average rating of “Moderate Buy” and a consensus price target of $81.19.

Charles Schwab Stock Performance

NYSE SCHW opened at $72.93 on Tuesday. The company has a fifty day moving average of $77.53 and a two-hundred day moving average of $70.65. 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 company has a market capitalization of $129.79 billion, a PE ratio of 28.49, a P/E/G ratio of 1.76 and a beta of 0.99.

Charles Schwab (NYSE:SCHW) last announced its earnings results on Tuesday, October 15th. The financial services provider reported $0.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.75 by $0.02. The firm had revenue of $4.85 billion during the quarter, compared to analysts’ expectations of $4.78 billion. Charles Schwab had a return on equity of 16.92% and a net margin of 27.47%. The business’s revenue was up 5.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.77 EPS. As a group, analysts expect that Charles Schwab will post 3.12 earnings per share for the current year.

Charles Schwab Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Friday, November 8th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.37%. Charles Schwab’s dividend payout ratio (DPR) is presently 39.06%.

Insider Activity at Charles Schwab

In related news, insider Jonathan S. Beatty sold 2,300 shares of Charles Schwab stock in a transaction on Monday, November 25th. The stock was sold at an average price of $82.01, for a total transaction of $188,623.00. Following the completion of the transaction, the insider now directly owns 18,069 shares of the company’s stock, valued at approximately $1,481,838.69. The trade was a 11.29 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Chairman Charles R. Schwab sold 62,345 shares of the company’s stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $72.52, for a total value of $4,521,259.40. Following the completion of the sale, the chairman now directly owns 60,619,371 shares in the company, valued at $4,396,116,784.92. This trade represents a 0.10 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 118,968 shares of company stock worth $8,842,821 over the last 90 days. Company insiders own 6.60% of the company’s stock.

Institutional Trading of Charles Schwab

Several institutional investors and hedge funds have recently modified their holdings of the business. Benjamin Edwards Inc. increased its position in Charles Schwab by 2,840.7% during 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 grew its holdings in shares of 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 raised its position in shares of Charles Schwab by 155.9% in the third quarter. Patten & Patten Inc. TN now owns 104,168 shares of the financial services provider’s stock valued at $6,751,000 after buying an additional 63,463 shares during the last quarter. Equity Investment Corp lifted its stake in shares of Charles Schwab by 9.4% during the third 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 during the period. Finally, Teewinot Capital Advisers L.L.C. boosted its position in Charles Schwab by 9.0% during the second 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 last quarter. Hedge funds and other institutional investors own 84.38% of the company’s stock.

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.