Charles Schwab (NYSE:SCHW) Cut to Market Perform at Keefe, Bruyette & Woods

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Charles Schwab (NYSE:SCHW) was downgraded by Keefe, Bruyette & Woods from an “outperform” rating to a “market perform” rating in a research report issued on Friday, MarketBeat Ratings reports. They presently have a $43.50 price target on the financial services provider’s stock, down from their previous price target of $51.00. Keefe, Bruyette & Woods’ price target indicates a potential upside of 8.40% from the company’s previous close.

SCHW has been the subject of a number of other research reports. Citigroup downgraded Apergy from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $41.00 to $34.00 in a report on Tuesday, July 9th. Compass Point set a $52.00 target price on E*TRADE Financial and gave the stock a “buy” rating in a report on Tuesday, July 2nd. ValuEngine downgraded Virtu Financial from a “hold” rating to a “sell” rating in a report on Tuesday, June 18th. JPMorgan Chase & Co. set a $44.00 price target on Charles Schwab and gave the company a “buy” rating in a research note on Friday, June 21st. Finally, Bank of America set a $180.00 price target on CME Group and gave the company a “hold” rating in a research note on Tuesday, April 9th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and eight have given a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $48.53.

SCHW opened at $40.13 on Friday. Charles Schwab has a fifty-two week low of $37.83 and a fifty-two week high of $54.26. The company has a quick ratio of 0.33, a current ratio of 0.33 and a debt-to-equity ratio of 0.36. The firm has a market capitalization of $54.01 billion, a P/E ratio of 16.38, a P/E/G ratio of 1.89 and a beta of 1.23. The stock’s fifty day moving average price is $41.43.

Charles Schwab (NYSE:SCHW) last posted its earnings results on Monday, April 15th. The financial services provider reported $0.69 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.66 by $0.03. Charles Schwab had a return on equity of 20.47% and a net margin of 35.27%. The company had revenue of $2.72 billion during the quarter, compared to the consensus estimate of $2.67 billion. During the same quarter last year, the firm earned $0.55 earnings per share. The company’s revenue was up 13.6% on a year-over-year basis. As a group, sell-side analysts expect that Charles Schwab will post 2.72 EPS for the current year.

In related news, Director Stephen T. Mclin sold 4,356 shares of the business’s stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $43.85, for a total value of $191,010.60. Following the completion of the transaction, the director now owns 7,592 shares of the company’s stock, valued at $332,909.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Jonathan M. Craig sold 3,740 shares of Charles Schwab stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $46.52, for a total value of $173,984.80. Following the completion of the transaction, the executive vice president now owns 66,190 shares in the company, valued at approximately $3,079,158.80. The disclosure for this sale can be found here. In the last ninety days, insiders sold 841,576 shares of company stock valued at $38,416,671. 10.90% of the stock is owned by insiders.

A number of institutional investors have recently added to or reduced their stakes in the business. Kaizen Advisory LLC grew its position in Charles Schwab by 8.0% in the fourth quarter. Kaizen Advisory LLC now owns 3,217 shares of the financial services provider’s stock valued at $134,000 after acquiring an additional 237 shares during the last quarter. ETF Managers Group LLC grew its position in Charles Schwab by 10.3% in the first quarter. ETF Managers Group LLC now owns 2,753 shares of the financial services provider’s stock valued at $118,000 after acquiring an additional 258 shares during the last quarter. Rehmann Capital Advisory Group grew its position in Charles Schwab by 3.6% in the first quarter. Rehmann Capital Advisory Group now owns 7,400 shares of the financial services provider’s stock valued at $316,000 after acquiring an additional 260 shares during the last quarter. Gs Investments Inc. grew its position in Charles Schwab by 0.5% in the first quarter. Gs Investments Inc. now owns 50,650 shares of the financial services provider’s stock valued at $2,166,000 after acquiring an additional 265 shares during the last quarter. Finally, Belpointe Asset Management LLC grew its position in Charles Schwab by 3.3% in the fourth quarter. Belpointe Asset Management LLC now owns 9,406 shares of the financial services provider’s stock valued at $391,000 after acquiring an additional 298 shares during the last quarter. Hedge funds and other institutional investors own 78.92% of the company’s stock.

About Charles Schwab

The Charles Schwab Corporation, through its subsidiaries, provides wealth management, securities brokerage, banking, asset management, custody, and financial advisory services. The company operates through two segments, Investor Services and Advisor Services. The Investor Services segment provides retail brokerage and banking services, retirement plan services, and other corporate brokerage services; equity compensation plan sponsors full-service recordkeeping for stock plans, stock options, restricted stock, performance shares, and stock appreciation rights; and retail investor, retirement plan, and mutual fund clearing services.

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