Charles Schwab (NYSE:SCHW) Upgraded at Citigroup

Citigroup upgraded shares of Charles Schwab (NYSE:SCHW) from a neutral rating to a buy rating in a report published on Wednesday morning, MarketBeat reports. The brokerage currently has $102.00 price objective on the financial services provider’s stock, up from their prior price objective of $85.00.

A number of other brokerages have also weighed in on SCHW. Wells Fargo & Company raised shares of Charles Schwab from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $89.00 to $93.00 in a report on Wednesday, January 22nd. Truist Financial upped their target price on Charles Schwab from $90.00 to $91.00 and gave the company a “buy” rating in a research report on Tuesday, February 11th. UBS Group increased their price target on shares of Charles Schwab from $90.00 to $95.00 and gave the stock a “buy” rating in a report on Monday, January 27th. Redburn Partners decreased their price objective on shares of 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, Jefferies Financial Group raised their target price on shares of Charles Schwab from $84.00 to $94.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Two analysts have rated the stock with a sell rating, five have given a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $86.94.

Charles Schwab Trading Down 7.7 %

NYSE:SCHW opened at $69.07 on Wednesday. The firm has a 50 day moving average of $79.09 and a 200 day moving average of $75.73. The stock has a market capitalization of $125.26 billion, a price-to-earnings ratio of 23.10, a PEG ratio of 0.99 and a beta of 0.91. 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 has a 52 week low of $61.01 and a 52 week high of $84.50.

Charles Schwab (NYSE:SCHW) last announced its earnings results on Tuesday, January 21st. The financial services provider reported $1.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.90 by $0.11. The company had revenue of $5.33 billion for the quarter, compared to analyst estimates of $5.19 billion. Charles Schwab had a return on equity of 18.20% and a net margin of 30.31%. The firm’s quarterly revenue was up 19.5% compared to the same quarter last year. During the same period in the prior year, the company posted $0.68 EPS. As a group, sell-side analysts anticipate that Charles Schwab will post 4.22 earnings per share for the current fiscal year.

Charles Schwab Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 14th were given a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend 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 36.12%.

Insider Buying and Selling

In other news, Director Arun Sarin sold 8,548 shares of the business’s stock in a transaction that occurred on Thursday, January 23rd. The stock was sold at an average price of $81.82, for a total transaction of $699,397.36. Following the transaction, the director now directly owns 18,617 shares in the company, valued at $1,523,242.94. The trade was a 31.47 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, General Counsel Peter J. Morgan III sold 14,643 shares of the stock in a transaction that occurred on Wednesday, January 22nd. The shares were 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. Over the last ninety days, insiders sold 513,081 shares of company stock worth $41,903,066. 6.60% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Murphy & Mullick Capital Management Corp acquired a new position in Charles Schwab in the 4th quarter valued at about $38,000. Atala Financial Inc purchased a new position in Charles Schwab in the fourth quarter worth approximately $41,000. Knuff & Co LLC increased its stake in Charles Schwab by 1,309.3% during the fourth quarter. Knuff & Co LLC now owns 606 shares of the financial services provider’s stock worth $45,000 after acquiring an additional 563 shares during the last quarter. Financial Life Planners acquired a new position in shares of Charles Schwab in the 4th quarter valued at $46,000. Finally, Whipplewood Advisors LLC acquired a new stake in shares of Charles Schwab during the 4th quarter worth about $46,000. Institutional investors and hedge funds own 84.38% of the company’s stock.

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.