JMP Securities Has Lowered Expectations for Charles Schwab (NYSE:SCHW) Stock Price

Charles Schwab (NYSE:SCHW) had its price objective cut by JMP Securities from $96.00 to $94.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage presently has a “market outperform” rating on the financial services provider’s stock. JMP Securities’ price objective suggests a potential upside of 24.53% from the company’s previous close.

Other analysts also recently issued research reports about the company. Deutsche Bank Aktiengesellschaft raised their price target on Charles Schwab from $98.00 to $105.00 and gave the stock a “buy” rating in a report on Wednesday, January 22nd. UBS Group upped their price target on shares of Charles Schwab from $90.00 to $95.00 and gave the stock a “buy” rating in a research report on Monday, January 27th. Jefferies Financial Group lifted their price objective on shares of Charles Schwab from $84.00 to $94.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Truist Financial decreased their target price on shares of Charles Schwab from $91.00 to $85.00 and set a “buy” rating for the company in a research report on Friday, April 4th. Finally, Barclays cut their price target on Charles Schwab from $96.00 to $84.00 and set an “overweight” rating on the stock in a report on Monday. Two analysts have rated the stock with a sell rating, four have given a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, Charles Schwab presently has an average rating of “Moderate Buy” and a consensus price target of $85.33.

Charles Schwab Price Performance

Shares of SCHW opened at $75.48 on Tuesday. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 0.59. The firm has a market cap of $136.90 billion, a price-to-earnings ratio of 25.25, a PEG ratio of 0.99 and a beta of 0.91. Charles Schwab has a 52 week low of $61.01 and a 52 week high of $84.50. The stock has a 50 day moving average of $78.05 and a 200-day moving average of $75.99.

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

Insider Buying and Selling

In other news, Chairman Walter W. Bettinger sold 464,629 shares of Charles Schwab stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $81.91, for a total transaction of $38,057,761.39. Following the transaction, the chairman now owns 827,377 shares in the company, valued at approximately $67,770,450.07. The trade was a 35.96 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Paul V. Woolway sold 9,887 shares of the stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $75.38, for a total value of $745,282.06. Following the completion of the sale, the insider now directly owns 47,931 shares of the company’s stock, valued at approximately $3,613,038.78. This represents a 17.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 513,081 shares of company stock worth $41,903,066 in the last three months. 6.60% of the stock is currently owned by insiders.

Institutional Trading of Charles Schwab

A number of hedge funds have recently made changes to their positions in SCHW. RFG Advisory LLC increased its stake in Charles Schwab by 11.3% in the 1st quarter. RFG Advisory LLC now owns 10,952 shares of the financial services provider’s stock valued at $857,000 after buying an additional 1,115 shares during the period. Fulton Bank N.A. grew its holdings in shares of Charles Schwab by 110.6% during the 1st quarter. Fulton Bank N.A. now owns 9,013 shares of the financial services provider’s stock valued at $706,000 after acquiring an additional 4,733 shares in the last quarter. Merit Financial Group LLC increased its stake in shares of Charles Schwab by 33.8% in the first quarter. Merit Financial Group LLC now owns 44,886 shares of the financial services provider’s stock worth $3,514,000 after acquiring an additional 11,340 shares during the last quarter. Baxter Bros Inc. raised its holdings in shares of Charles Schwab by 43.2% during the first quarter. Baxter Bros Inc. now owns 82,494 shares of the financial services provider’s stock worth $6,458,000 after acquiring an additional 24,876 shares in the last quarter. Finally, O Keefe Stevens Advisory Inc. acquired a new stake in Charles Schwab during the first quarter valued at $211,000. 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.