Citizens Jmp Increases Charles Schwab (NYSE:SCHW) Price Target to $120.00

Charles Schwab (NYSE:SCHW) had its target price increased by equities researchers at Citizens Jmp from $110.00 to $120.00 in a note issued to investors on Monday,Benzinga reports. The firm presently has a “market outperform” rating on the financial services provider’s stock. Citizens Jmp’s price target would suggest a potential upside of 19.78% from the stock’s current price.

Other equities analysts have also recently issued research reports about the company. Keefe, Bruyette & Woods lifted their price target on Charles Schwab from $109.00 to $111.00 and gave the stock an “outperform” rating in a report on Friday, October 17th. Barclays increased their target price on Charles Schwab from $111.00 to $120.00 and gave the stock an “overweight” rating in a research note on Thursday. Citigroup reaffirmed a “market outperform” rating on shares of Charles Schwab in a report on Monday. Piper Sandler reiterated a “neutral” rating on shares of Charles Schwab in a research report on Tuesday, October 14th. Finally, JPMorgan Chase & Co. upped their target price on Charles Schwab from $119.00 to $121.00 and gave the company an “overweight” rating in a research report on Monday, October 20th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $111.67.

Charles Schwab Price Performance

NYSE:SCHW opened at $100.19 on Monday. The stock has a market capitalization of $178.03 billion, a PE ratio of 23.46, a P/E/G ratio of 0.70 and a beta of 0.94. Charles Schwab has a 1-year low of $65.88 and a 1-year high of $104.76. The firm has a fifty day simple moving average of $96.33 and a 200 day simple moving average of $95.14. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 0.47.

Charles Schwab (NYSE:SCHW) last posted its quarterly earnings results on Thursday, October 16th. The financial services provider reported $1.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.25 by $0.06. Charles Schwab had a net margin of 35.93% and a return on equity of 21.02%. The firm had revenue of $6.38 billion for the quarter, compared to analyst estimates of $5.93 billion. During the same period in the prior year, the firm posted $0.71 earnings per share. The company’s quarterly revenue was up 26.6% compared to the same quarter last year. On average, research analysts expect that Charles Schwab will post 4.22 EPS for the current fiscal year.

Insider Transactions at Charles Schwab

In related news, insider Jonathan S. Beatty sold 3,072 shares of the company’s stock in a transaction that occurred on Wednesday, November 12th. The stock was sold at an average price of $98.00, for a total value of $301,056.00. Following the transaction, the insider owned 11,923 shares in the company, valued at approximately $1,168,454. This represents a 20.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 6.30% of the stock is owned by company insiders.

Hedge Funds Weigh In On Charles Schwab

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Princeton Global Asset Management LLC bought a new stake in Charles Schwab in the second quarter worth $25,000. RMG Wealth Management LLC purchased a new position in Charles Schwab during the second quarter valued at $27,000. West Branch Capital LLC purchased a new stake in Charles Schwab in the third quarter worth about $27,000. GoalVest Advisory LLC bought a new position in shares of Charles Schwab during the fourth quarter valued at $28,000. Finally, Hoese & Co LLP lifted its position in Charles Schwab by 131.6% in the 2nd quarter. Hoese & Co LLP now owns 352 shares of the financial services provider’s stock valued at $32,000 after acquiring an additional 200 shares in the last quarter. Hedge funds and other institutional investors own 84.38% of the company’s stock.

Charles Schwab Company Profile

Charles Schwab Corporation (NYSE: SCHW) is a diversified financial services firm that provides brokerage, banking, wealth management and advisory services to individual investors, independent investment advisors and institutional clients. Its primary offerings include retail brokerage accounts, online trading platforms, Schwab-branded mutual funds and exchange-traded funds (ETFs), retirement plan services, custodial services for independent Registered Investment Advisors (RIAs), and banking products through Charles Schwab Bank.