Charles Schwab (NYSE:SCHW) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

Charles Schwab (NYSE:SCHW) had its price objective raised by analysts at Wells Fargo & Company from $75.00 to $90.00 in a report released on Thursday,Benzinga reports. The brokerage currently has an “equal weight” rating on the financial services provider’s stock. Wells Fargo & Company‘s target price indicates a potential upside of 13.15% from the company’s previous close.

Several other research analysts have also weighed in on the stock. Jefferies Financial Group boosted 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. Piper Sandler upped their price objective on Charles Schwab from $64.00 to $65.00 and gave the company a “neutral” rating in a research note on Wednesday, October 16th. Bank of America cut their price objective on Charles Schwab from $63.00 to $61.00 and set an “underperform” rating for the company in a research report on Wednesday, October 16th. Raymond James dropped their price target on Charles Schwab from $76.00 to $73.00 in a research note on Tuesday, October 15th. Finally, Citigroup cut their price target on Charles Schwab from $75.00 to $72.00 and set a “neutral” rating for the company in a report on Friday, September 27th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $79.75.

Charles Schwab Stock Performance

SCHW opened at $79.54 on Thursday. The business’s 50-day simple moving average is $75.55 and its 200 day simple moving average is $70.41. Charles Schwab has a 52-week low of $59.67 and a 52-week high of $83.35. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.47 and a current ratio of 0.47. The firm has a market capitalization of $141.55 billion, a PE ratio of 31.07, a PEG ratio of 1.79 and a beta of 0.96.

Charles Schwab (NYSE:SCHW) last released its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $0.77 EPS for the quarter, beating the consensus estimate of $0.75 by $0.02. The company had revenue of $4.85 billion during the quarter, compared to the consensus estimate of $4.78 billion. Charles Schwab had a return on equity of 16.92% and a net margin of 27.47%. The firm’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 firm posted $0.77 EPS. As a group, sell-side analysts expect that Charles Schwab will post 3.12 earnings per share for the current fiscal year.

Insider Transactions at Charles Schwab

In other Charles Schwab news, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the business’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $64.05, for a total transaction of $576,450.00. Following the completion of the transaction, the director now owns 554,929 shares of the company’s stock, valued at approximately $35,543,202.45. The trade was a 1.60 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Charles R. Schwab sold 62,345 shares of Charles Schwab stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $72.52, for a total transaction of $4,521,259.40. Following 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 ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 127,968 shares of company stock valued at $9,419,271. Company insiders own 6.60% of the company’s stock.

Hedge Funds Weigh In On Charles Schwab

A number of hedge funds have recently modified their holdings of SCHW. B. Riley Wealth Advisors Inc. raised its holdings in Charles Schwab by 75.4% during the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 43,784 shares of the financial services provider’s stock worth $2,804,000 after purchasing an additional 18,825 shares during the last quarter. Franklin Resources Inc. boosted its position in Charles Schwab by 15.0% during the third quarter. Franklin Resources Inc. now owns 24,261,234 shares of the financial services provider’s stock valued at $1,644,674,000 after acquiring an additional 3,157,923 shares during the last quarter. Synovus Financial Corp grew its holdings in Charles Schwab by 46.0% during the 3rd quarter. Synovus Financial Corp now owns 67,889 shares of the financial services provider’s stock worth $4,400,000 after acquiring an additional 21,377 shares during the period. Tidal Investments LLC raised its position in shares of Charles Schwab by 8.4% in the 3rd quarter. Tidal Investments LLC now owns 119,185 shares of the financial services provider’s stock worth $7,724,000 after acquiring an additional 9,245 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB lifted its stake in shares of Charles Schwab by 69.0% in the 3rd quarter. Wilmington Savings Fund Society FSB now owns 74,073 shares of the financial services provider’s stock valued at $4,801,000 after purchasing an additional 30,237 shares during the period. Institutional investors and hedge funds 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.