Charles Schwab (NYSE:SCHW) Trading 2.6% Higher Following Analyst Upgrade

The Charles Schwab Co. (NYSE:SCHW) traded up 2.6% during trading on Wednesday after TD Cowen raised their price target on the stock from $87.00 to $92.00. TD Cowen currently has a buy rating on the stock. Charles Schwab traded as high as $73.26 and last traded at $73.07. 12,021,566 shares were traded during trading, an increase of 80% from the average session volume of 6,668,537 shares. The stock had previously closed at $71.23.

Several other equities research analysts have also weighed in on SCHW. Piper Sandler lifted their price objective on Charles Schwab from $75.00 to $78.00 and gave the stock an “overweight” rating in a report on Friday, April 12th. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $71.00 target price (up previously from $70.00) on shares of Charles Schwab in a report on Wednesday, January 3rd. StockNews.com raised Charles Schwab from a “sell” rating to a “hold” rating in a report on Friday, March 15th. Keefe, Bruyette & Woods lifted their target price on Charles Schwab from $75.00 to $76.00 and gave the company a “market perform” rating in a report on Tuesday. Finally, Raymond James reduced their target price on Charles Schwab from $78.00 to $75.00 and set an “outperform” rating for the company in a report on Thursday, January 18th. Three analysts have rated the stock with a sell rating, six have given a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $74.47.

Insider Activity

In related news, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the company’s stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $70.87, for a total value of $637,830.00. Following the sale, the director now directly owns 581,457 shares of the company’s stock, valued at $41,207,857.59. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the company’s stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $70.87, for a total value of $637,830.00. Following the sale, the director now directly owns 581,457 shares of the company’s stock, valued at $41,207,857.59. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Chairman Charles R. Schwab sold 16,390 shares of the company’s stock in a transaction on Wednesday, January 24th. The stock was sold at an average price of $63.94, for a total value of $1,047,976.60. Following the completion of the sale, the chairman now directly owns 61,331,688 shares in the company, valued at $3,921,548,130.72. The disclosure for this sale can be found here. Over the last three months, insiders have sold 216,584 shares of company stock valued at $14,200,769. Company insiders own 6.60% of the company’s stock.

Institutional Investors Weigh In On Charles Schwab

Institutional investors have recently modified their holdings of the stock. Opinicus Capital Inc. lifted its holdings in shares of Charles Schwab by 5.9% during the first quarter. Opinicus Capital Inc. now owns 12,204 shares of the financial services provider’s stock valued at $883,000 after purchasing an additional 675 shares in the last quarter. WD Rutherford LLC bought a new position in shares of Charles Schwab during the first quarter valued at $67,000. Financial Management Professionals Inc. lifted its holdings in shares of Charles Schwab by 20.4% during the first quarter. Financial Management Professionals Inc. now owns 3,446 shares of the financial services provider’s stock valued at $249,000 after purchasing an additional 585 shares in the last quarter. Calton & Associates Inc. bought a new position in shares of Charles Schwab during the first quarter valued at $310,000. Finally, Sendero Wealth Management LLC lifted its holdings in shares of Charles Schwab by 17.1% during the first quarter. Sendero Wealth Management LLC now owns 145,879 shares of the financial services provider’s stock valued at $10,553,000 after purchasing an additional 21,262 shares in the last quarter. 84.38% of the stock is owned by hedge funds and other institutional investors.

Charles Schwab Stock Performance

The business has a fifty day simple moving average of $67.97 and a two-hundred day simple moving average of $62.75. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.82. The company has a market cap of $129.78 billion, a P/E ratio of 30.57, a P/E/G ratio of 1.08 and a beta of 1.01.

Charles Schwab (NYSE:SCHW) last posted its earnings results on Wednesday, January 17th. The financial services provider reported $0.68 earnings per share for the quarter, beating analysts’ consensus estimates of $0.64 by $0.04. Charles Schwab had a return on equity of 19.86% and a net margin of 26.14%. The company had revenue of $4.46 billion for the quarter, compared to the consensus estimate of $4.49 billion. During the same quarter in the prior year, the company earned $1.07 earnings per share. Charles Schwab’s revenue was down 18.9% on a year-over-year basis. On average, sell-side analysts anticipate that The Charles Schwab Co. will post 3.4 EPS for the current year.

Charles Schwab Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 23rd. Shareholders of record on Friday, February 9th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.37%. The ex-dividend date of this dividend was Thursday, February 8th. Charles Schwab’s payout ratio is 41.84%.

Charles Schwab Company Profile

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.