Barclays Cuts Charles Schwab (NYSE:SCHW) Price Target to $84.00

Charles Schwab (NYSE:SCHW) had its target price decreased by Barclays from $96.00 to $84.00 in a research report report published on Monday morning,Benzinga reports. Barclays currently has an overweight rating on the financial services provider’s stock.

Other equities research analysts have also issued research reports about the company. Truist Financial dropped their target price on Charles Schwab from $91.00 to $85.00 and set a “buy” rating on the stock in a research report on Friday. 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. Morgan Stanley increased their target price on shares of Charles Schwab from $84.00 to $91.00 and gave the stock an “equal weight” rating in a report on Thursday, February 6th. Citigroup upgraded shares of Charles Schwab from a “neutral” rating to a “buy” rating and lifted their price target for the company from $85.00 to $102.00 in a research note on Wednesday, April 2nd. Finally, Jefferies Financial Group increased their price objective on shares of Charles Schwab from $84.00 to $94.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Charles Schwab currently has an average rating of “Moderate Buy” and an average target price of $86.28.

Charles Schwab Stock Up 1.3 %

Shares of SCHW stock opened at $69.97 on Monday. Charles Schwab has a 12-month low of $61.01 and a 12-month high of $84.50. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 0.59. The firm has a fifty day moving average of $78.84 and a 200-day moving average of $75.93. The company has a market capitalization of $126.90 billion, a price-to-earnings ratio of 23.40, a P/E/G ratio of 0.99 and a beta of 0.91.

Charles Schwab (NYSE:SCHW) last released its earnings results on Tuesday, January 21st. The financial services provider reported $1.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.90 by $0.11. The firm 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 company’s revenue was up 19.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.68 EPS. As a group, equities research analysts predict that Charles Schwab will post 4.22 earnings per share for the current fiscal year.

Charles Schwab Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 14th were paid a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 1.54%. The ex-dividend date was Friday, February 14th. This is a boost from Charles Schwab’s previous quarterly dividend of $0.25. Charles Schwab’s dividend payout ratio is 36.12%.

Insiders Place Their Bets

In other news, insider Paul V. Woolway sold 3,380 shares of the firm’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $79.32, for a total transaction of $268,101.60. Following the completion of the sale, the insider now owns 57,818 shares in the company, valued at approximately $4,586,123.76. This trade represents a 5.52 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Chairman Walter W. Bettinger sold 464,629 shares of the company’s stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $81.91, for a total transaction of $38,057,761.39. Following the completion of the transaction, the chairman now owns 827,377 shares in the company, valued at approximately $67,770,450.07. This trade represents a 35.96 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 513,081 shares of company stock valued at $41,903,066 over the last ninety days. 6.60% of the stock is currently owned by company insiders.

Institutional Trading of Charles Schwab

Several hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in shares of Charles Schwab by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 128,578,230 shares of the financial services provider’s stock worth $9,516,075,000 after buying an additional 1,187,384 shares in the last quarter. Geode Capital Management LLC raised its stake in Charles Schwab by 2.5% in the 4th quarter. Geode Capital Management LLC now owns 30,901,484 shares of the financial services provider’s stock worth $2,279,742,000 after purchasing an additional 760,043 shares in the last quarter. Franklin Resources Inc. raised its stake in Charles Schwab by 15.0% in 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 purchasing an additional 3,157,923 shares in the last quarter. Fisher Asset Management LLC boosted its holdings in Charles Schwab by 1.3% in the 4th quarter. Fisher Asset Management LLC now owns 20,455,266 shares of the financial services provider’s stock valued at $1,513,894,000 after purchasing an additional 265,708 shares during the period. Finally, Norges Bank acquired a new position in shares of Charles Schwab during the 4th quarter worth approximately $1,289,544,000. 84.38% of the stock is owned by institutional investors and hedge funds.

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.