Charles Schwab (NYSE:SCHW) Price Target Raised to $76.00

Charles Schwab (NYSE:SCHW) had its price target raised by Keefe, Bruyette & Woods from $75.00 to $76.00 in a report issued on Tuesday, Benzinga reports. They currently have a market perform rating on the financial services provider’s stock.

Several other equities analysts have also issued reports on the stock. Bank of America boosted their price target on shares of Charles Schwab from $68.00 to $70.00 and gave the company an underperform rating in a report on Tuesday. JPMorgan Chase & Co. boosted their price objective on shares of Charles Schwab from $86.00 to $89.00 and gave the company an overweight rating in a research report on Tuesday. Piper Sandler boosted their price objective on shares of Charles Schwab from $75.00 to $78.00 and gave the company an overweight rating in a research report on Friday, April 12th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Charles Schwab from $75.00 to $77.00 and gave the company a buy rating in a research report on Tuesday, March 19th. Finally, JMP Securities boosted their price objective on shares of Charles Schwab from $77.00 to $80.00 and gave the company a market outperform rating in a research report on Tuesday, April 9th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of Hold and a consensus target price of $74.47.

Charles Schwab Price Performance

Shares of SCHW stock opened at $72.92 on Tuesday. Charles Schwab has a 12-month low of $45.65 and a 12-month high of $73.88. The firm has a market capitalization of $129.51 billion, a price-to-earnings ratio of 30.51, a price-to-earnings-growth ratio of 1.10 and a beta of 1.01. 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 firm has a fifty day moving average of $68.38 and a 200-day moving average of $62.89.

Charles Schwab (NYSE:SCHW) last announced its quarterly earnings results on Wednesday, January 17th. The financial services provider reported $0.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.64 by $0.04. Charles Schwab had a net margin of 26.14% and a return on equity of 19.86%. The company had revenue of $4.46 billion during the quarter, compared to analyst estimates of $4.49 billion. During the same quarter in the previous year, the business earned $1.07 EPS. The firm’s revenue was down 18.9% on a year-over-year basis. On average, equities research analysts forecast that Charles Schwab will post 3.41 earnings per share for the current year.

Charles Schwab Dividend Announcement

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

Insiders Place Their Bets

In other news, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the company’s stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $65.29, for a total value of $587,610.00. Following the sale, the director now directly owns 585,057 shares of the company’s stock, valued at approximately $38,198,371.53. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the company’s stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $65.29, for a total value of $587,610.00. Following the sale, the director now directly owns 585,057 shares of the company’s stock, valued at approximately $38,198,371.53. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Chairman Charles R. Schwab sold 16,390 shares of the company’s stock in a transaction dated Wednesday, January 24th. The shares were sold at an average price of $63.94, for a total transaction 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. Insiders have sold 312,800 shares of company stock valued at $21,081,569 in the last three months. 6.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. MBM Wealth Consultants LLC grew its stake in Charles Schwab by 14.0% in the 1st quarter. MBM Wealth Consultants LLC now owns 15,909 shares of the financial services provider’s stock valued at $1,151,000 after buying an additional 1,951 shares during the last quarter. SeaCrest Wealth Management LLC grew its stake in Charles Schwab by 1.3% in the 1st quarter. SeaCrest Wealth Management LLC now owns 15,855 shares of the financial services provider’s stock valued at $1,147,000 after buying an additional 198 shares during the last quarter. West Oak Capital LLC grew its stake in Charles Schwab by 1.1% in the 1st quarter. West Oak Capital LLC now owns 29,635 shares of the financial services provider’s stock valued at $2,144,000 after buying an additional 325 shares during the last quarter. CAP Partners LLC acquired a new position in Charles Schwab in the 1st quarter valued at about $206,000. Finally, Eagle Ridge Investment Management grew its stake in Charles Schwab by 0.4% in the 1st quarter. Eagle Ridge Investment Management now owns 357,029 shares of the financial services provider’s stock valued at $25,827,000 after buying an additional 1,405 shares during the last quarter. 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.