Bank of America Increases Charles Schwab (NYSE:SCHW) Price Target to $70.00

Charles Schwab (NYSE:SCHW) had its price target lifted by equities research analysts at Bank of America from $68.00 to $70.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The firm currently has an “underperform” rating on the financial services provider’s stock. Bank of America‘s price target suggests a potential downside of 1.77% from the company’s current price.

Other equities analysts have also issued research reports about the stock. Keefe, Bruyette & Woods lowered shares of Charles Schwab from an “outperform” rating to a “market perform” rating and decreased their price objective for the stock from $75.00 to $70.00 in a research note on Thursday, January 18th. StockNews.com raised shares of Charles Schwab from a “sell” rating to a “hold” rating in a research note on Friday, March 15th. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $71.00 price objective (up previously from $70.00) on shares of Charles Schwab in a research note on Wednesday, January 3rd. TD Cowen raised shares of Charles Schwab from a “market perform” rating to an “outperform” rating and set a $87.00 price objective for the company in a research note on Friday, March 22nd. Finally, Barclays raised their price objective on shares of Charles Schwab from $68.00 to $74.00 and gave the stock an “equal weight” rating in a research note on Monday, April 8th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, Charles Schwab presently has an average rating of “Hold” and an average price target of $73.82.

Charles Schwab Trading Up 1.8 %

Shares of NYSE:SCHW opened at $71.26 on Tuesday. The stock has a market capitalization of $126.56 billion, a price-to-earnings ratio of 28.06, a PEG ratio of 1.06 and a beta of 1.01. Charles Schwab has a 1-year low of $45.65 and a 1-year high of $73.65. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.43 and a current ratio of 0.43. The company has a 50 day moving average price of $67.74 and a 200 day moving average price of $62.62.

Charles Schwab (NYSE:SCHW) last issued its earnings results on Wednesday, January 17th. The financial services provider reported $0.68 earnings per share for the quarter, topping analysts’ consensus estimates of $0.64 by $0.04. The firm had revenue of $4.46 billion during the quarter, compared to analysts’ expectations of $4.49 billion. Charles Schwab had a net margin of 26.90% and a return on equity of 21.33%. The firm’s revenue for the quarter was down 18.9% compared to the same quarter last year. During the same period last year, the firm posted $1.07 earnings per share. On average, research analysts anticipate that Charles Schwab will post 3.4 EPS for the current fiscal year.

Insider Activity at Charles Schwab

In related news, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the firm’s stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $70.87, for a total value of $637,830.00. Following the transaction, the director now directly owns 581,457 shares in the company, valued at approximately $41,207,857.59. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the firm’s stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $70.87, for a total value of $637,830.00. Following the transaction, the director now directly owns 581,457 shares in the company, valued at approximately $41,207,857.59. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jonathan M. Craig sold 4,977 shares of the firm’s stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $70.01, for a total transaction of $348,439.77. Following the completion of the sale, the insider now owns 81,446 shares in the company, valued at $5,702,034.46. The disclosure for this sale can be found here. In the last three months, insiders have sold 216,584 shares of company stock worth $14,200,769. 6.60% of the stock is owned by insiders.

Institutional Trading of Charles Schwab

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Investment Research & Advisory Group Inc. grew its position in Charles Schwab by 1.0% in the 4th quarter. Investment Research & Advisory Group Inc. now owns 58,979 shares of the financial services provider’s stock worth $4,058,000 after purchasing an additional 607 shares during the last quarter. Bamco Inc. NY grew its position in Charles Schwab by 0.5% in the 3rd quarter. Bamco Inc. NY now owns 8,102,475 shares of the financial services provider’s stock worth $444,826,000 after purchasing an additional 42,588 shares during the last quarter. Nisa Investment Advisors LLC grew its position in Charles Schwab by 43.2% in the 3rd quarter. Nisa Investment Advisors LLC now owns 551,682 shares of the financial services provider’s stock worth $30,287,000 after purchasing an additional 166,316 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its position in shares of Charles Schwab by 22.2% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 883,379 shares of the financial services provider’s stock valued at $60,776,000 after acquiring an additional 160,719 shares in the last quarter. Finally, 180 Wealth Advisors LLC boosted its position in shares of Charles Schwab by 6.1% during the 3rd quarter. 180 Wealth Advisors LLC now owns 32,214 shares of the financial services provider’s stock valued at $1,769,000 after acquiring an additional 1,843 shares in the last quarter. 84.38% of the stock is currently 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.