Charles Schwab (NYSE:SCHW) PT Raised to $89.00 at JPMorgan Chase & Co.

Charles Schwab (NYSE:SCHW) had its price target increased by JPMorgan Chase & Co. from $86.00 to $89.00 in a report published on Tuesday morning, Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the financial services provider’s stock.

SCHW has been the topic of several other research reports. Bank of America upped their price objective on Charles Schwab from $68.00 to $70.00 and gave the company an underperform rating in a research note on Tuesday. Raymond James reduced their price objective on Charles Schwab from $78.00 to $75.00 and set an outperform rating for the company in a report on Thursday, January 18th. JMP Securities boosted their target price 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. The Goldman Sachs Group reissued a neutral rating and issued a $71.00 price objective (up previously from $70.00) on shares of Charles Schwab in a report on Wednesday, January 3rd. Finally, Piper Sandler raised their price objective on Charles Schwab from $75.00 to $78.00 and gave the stock an overweight rating in a research note on Friday, April 12th. Three 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 company. Based on data from MarketBeat.com, the company has a consensus rating of Hold and an average price target of $74.47.

Charles Schwab Stock Up 0.7 %

Shares of SCHW stock opened at $73.42 on Tuesday. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.82. The firm’s fifty day moving average price is $68.58 and its two-hundred day moving average price is $63.02. The firm has a market capitalization of $130.40 billion, a P/E ratio of 30.72, 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 $73.88.

Charles Schwab (NYSE:SCHW) last released its earnings results on Wednesday, January 17th. The financial services provider reported $0.68 earnings per share for the quarter, beating the consensus estimate of $0.64 by $0.04. The business had revenue of $4.46 billion during the quarter, compared to analysts’ expectations of $4.49 billion. Charles Schwab had a net margin of 26.14% and a return on equity of 19.86%. The firm’s revenue was down 18.9% on a year-over-year basis. During the same period last year, the business earned $1.07 earnings per share. On average, equities analysts predict that Charles Schwab will post 3.43 EPS for the current fiscal year.

Charles Schwab Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 23rd. Stockholders of record on Friday, February 9th were paid a $0.25 dividend. The ex-dividend date was Thursday, February 8th. This represents a $1.00 annualized dividend and a dividend yield of 1.36%. Charles Schwab’s payout ratio is 41.84%.

Insider Buying and Selling at Charles Schwab

In related news, COO Joseph R. Martinetto sold 43,000 shares of the business’s stock in a transaction on Tuesday, April 16th. The shares were sold at an average price of $70.83, for a total value of $3,045,690.00. Following the transaction, the chief operating officer now owns 41,414 shares in the company, valued at $2,933,353.62. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other Charles Schwab news, COO Joseph R. Martinetto sold 43,000 shares of the business’s stock in a transaction that occurred on Tuesday, April 16th. The stock was sold at an average price of $70.83, for a total value of $3,045,690.00. Following the transaction, the chief operating officer now directly owns 41,414 shares of the company’s stock, valued at $2,933,353.62. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Nigel J. Murtagh sold 29,991 shares of Charles Schwab stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $67.80, for a total transaction of $2,033,389.80. Following the completion of the sale, the insider now owns 81,446 shares of the company’s stock, valued at approximately $5,522,038.80. The disclosure for this sale can be found here. In the last 90 days, insiders sold 312,800 shares of company stock valued at $21,081,569. 6.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Charles Schwab

A number of large investors have recently modified their holdings of the company. Dodge & Cox grew its holdings in shares of Charles Schwab by 10.5% during the fourth quarter. Dodge & Cox now owns 86,421,986 shares of the financial services provider’s stock valued at $5,945,833,000 after buying an additional 8,182,467 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in Charles Schwab by 33.4% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 69,360,233 shares of the financial services provider’s stock valued at $4,771,985,000 after buying an additional 17,369,091 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in Charles Schwab by 4.1% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 30,994,967 shares of the financial services provider’s stock worth $2,132,454,000 after purchasing an additional 1,219,015 shares during the last quarter. Geode Capital Management LLC grew its position in Charles Schwab by 1.5% in the 1st quarter. Geode Capital Management LLC now owns 27,050,168 shares of the financial services provider’s stock worth $1,413,244,000 after purchasing an additional 391,238 shares in the last quarter. Finally, Morgan Stanley lifted its position in shares of Charles Schwab by 62.5% during the 4th quarter. Morgan Stanley now owns 22,255,649 shares of the financial services provider’s stock worth $1,853,005,000 after buying an additional 8,563,389 shares in the last quarter. 84.38% of the stock is currently owned by institutional investors.

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.