Analysts at Citigroup Inc. started coverage on shares of The Charles Schwab Corporation (NYSE:SCHW) in a research report issued on Thursday, The Fly reports. The brokerage set a “neutral” rating and a $46.00 price target on the financial services provider’s stock. Citigroup Inc.’s price target points to a potential upside of 6.88% from the company’s previous close.
Several other research analysts have also recently issued reports on SCHW. Deutsche Bank AG decreased their price objective on shares of The Charles Schwab Corporation from $47.00 to $46.00 and set a “buy” rating for the company in a report on Thursday, April 6th. Keefe, Bruyette & Woods set a $44.00 price objective on shares of The Charles Schwab Corporation and gave the company a “buy” rating in a report on Monday, April 10th. Nomura reiterated a “buy” rating and issued a $46.00 price objective on shares of The Charles Schwab Corporation in a report on Tuesday, April 11th. Instinet reiterated a “conviction-buy” rating and issued a $46.00 price objective (up from $44.00) on shares of The Charles Schwab Corporation in a report on Friday, April 14th. Finally, SunTrust Banks, Inc. decreased their price objective on shares of The Charles Schwab Corporation from $45.00 to $44.00 and set a “buy” rating for the company in a report on Wednesday, April 19th. Five analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $43.26.
The Charles Schwab Corporation (SCHW) traded down 0.58% during trading on Thursday, hitting $42.79. The company had a trading volume of 2,722,578 shares. The company’s 50 day moving average price is $40.43 and its 200-day moving average price is $40.53. The company has a market cap of $57.22 billion, a PE ratio of 30.35 and a beta of 1.63. The Charles Schwab Corporation has a 12 month low of $26.81 and a 12 month high of $44.10.
The Charles Schwab Corporation (NYSE:SCHW) last announced its quarterly earnings results on Tuesday, April 18th. The financial services provider reported $0.39 EPS for the quarter, beating the consensus estimate of $0.37 by $0.02. The Charles Schwab Corporation had a net margin of 26.18% and a return on equity of 15.04%. The company had revenue of $2.08 billion for the quarter, compared to analyst estimates of $2.06 billion. During the same quarter last year, the business earned $0.29 earnings per share. The Charles Schwab Corporation’s revenue was up 18.0% compared to the same quarter last year. Equities analysts expect that The Charles Schwab Corporation will post $1.63 earnings per share for the current year.
In other news, Director Mark A. Goldfarb bought 1,850 shares of the stock in a transaction that occurred on Thursday, April 27th. The shares were acquired at an average cost of $26.97 per share, for a total transaction of $49,894.50. Following the purchase, the director now owns 1,850 shares of the company’s stock, valued at approximately $49,894.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Terri R. Kallsen sold 10,536 shares of the firm’s stock in a transaction on Monday, July 3rd. The shares were sold at an average price of $43.15, for a total transaction of $454,628.40. Following the completion of the transaction, the executive vice president now owns 5,212 shares in the company, valued at $224,897.80. The disclosure for this sale can be found here. In the last quarter, insiders sold 369,060 shares of company stock valued at $14,803,786. Insiders own 12.00% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of SCHW. Integrated Investment Consultants LLC raised its position in The Charles Schwab Corporation by 3.0% in the first quarter. Integrated Investment Consultants LLC now owns 4,971 shares of the financial services provider’s stock worth $203,000 after buying an additional 143 shares during the last quarter. Park National Corp OH purchased a new position in The Charles Schwab Corporation during the first quarter worth about $624,000. Toth Financial Advisory Corp raised its position in The Charles Schwab Corporation by 4.9% in the first quarter. Toth Financial Advisory Corp now owns 18,105 shares of the financial services provider’s stock worth $739,000 after buying an additional 850 shares during the last quarter. New Century Investment Management Inc. purchased a new position in The Charles Schwab Corporation during the fourth quarter worth about $907,000. Finally, Macquarie Group Ltd. raised its stake in The Charles Schwab Corporation by 8,699.5% in the fourth quarter. Macquarie Group Ltd. now owns 2,270,273 shares of the financial services provider’s stock valued at $89,608,000 after buying an additional 2,244,473 shares in the last quarter. Institutional investors and hedge funds own 79.02% of the company’s stock.
The Charles Schwab Corporation Company Profile
The Charles Schwab Corporation (CSC) is a savings and loan holding company. The Company, through its subsidiaries, engages in wealth management, securities brokerage, banking, money management and financial advisory services. The Company provides financial services to individuals and institutional clients through two segments: Investor Services and Advisor Services.
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