Charles Schwab (NYSE:SCHW) PT Lowered to $36.00 at Deutsche Bank

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Charles Schwab (NYSE:SCHW) had its price objective decreased by Deutsche Bank from $37.00 to $36.00 in a research note published on Wednesday, BenzingaRatingsTable reports. Deutsche Bank currently has a hold rating on the financial services provider’s stock.

SCHW has been the subject of a number of other research reports. ValuEngine lowered shares of Charles Schwab from a hold rating to a sell rating in a report on Tuesday, June 18th. JPMorgan Chase & Co. set a $44.00 price objective on shares of Charles Schwab and gave the company a buy rating in a report on Friday, June 21st. Citigroup dropped their price objective on shares of Charles Schwab from $43.50 to $39.50 and set a neutral rating for the company in a report on Tuesday, July 9th. Keefe, Bruyette & Woods lowered shares of Charles Schwab from an outperform rating to a market perform rating and lowered their price target for the stock from $51.00 to $43.50 in a report on Friday, July 12th. Finally, Bank of America lowered shares of Charles Schwab from a buy rating to a neutral rating and lowered their price target for the stock from $49.00 to $43.00 in a report on Friday, July 12th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and nine have assigned a buy rating to the stock. The stock has an average rating of Hold and an average target price of $47.33.

Shares of NYSE SCHW opened at $36.58 on Wednesday. The company has a 50 day simple moving average of $40.14 and a 200 day simple moving average of $43.05. The firm has a market cap of $47.82 billion, a PE ratio of 14.93, a price-to-earnings-growth ratio of 2.46 and a beta of 1.25. Charles Schwab has a 1 year low of $36.01 and a 1 year high of $52.70. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.31 and a quick ratio of 0.31.

Charles Schwab (NYSE:SCHW) last issued its quarterly earnings data on Tuesday, July 16th. The financial services provider reported $0.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.65 by $0.01. The business had revenue of $2.68 billion during the quarter, compared to analyst estimates of $2.68 billion. Charles Schwab had a net margin of 35.29% and a return on equity of 20.52%. The firm’s quarterly revenue was up 7.8% on a year-over-year basis. During the same quarter last year, the business earned $0.60 EPS. As a group, research analysts anticipate that Charles Schwab will post 2.67 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Friday, August 9th were issued a dividend of $0.17 per share. The ex-dividend date of this dividend was Thursday, August 8th. This represents a $0.68 annualized dividend and a yield of 1.86%. Charles Schwab’s payout ratio is 27.76%.

In other Charles Schwab news, EVP Jonathan M. Craig sold 3,740 shares of the firm’s stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $40.20, for a total transaction of $150,348.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Stephen T. Mclin sold 5,093 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $37.56, for a total transaction of $191,293.08. Following the transaction, the director now owns 7,297 shares of the company’s stock, valued at approximately $274,075.32. The disclosure for this sale can be found here. 10.90% of the stock is currently owned by company insiders.

Several large investors have recently added to or reduced their stakes in SCHW. Nuveen Asset Management LLC increased its stake in shares of Charles Schwab by 12,401.9% in the 2nd quarter. Nuveen Asset Management LLC now owns 6,862,927 shares of the financial services provider’s stock valued at $275,821,000 after acquiring an additional 6,808,032 shares in the last quarter. BlackRock Inc. increased its stake in shares of Charles Schwab by 3.7% in the 2nd quarter. BlackRock Inc. now owns 87,080,690 shares of the financial services provider’s stock valued at $3,499,773,000 after acquiring an additional 3,140,824 shares in the last quarter. Clearbridge Investments LLC increased its stake in shares of Charles Schwab by 24.0% in the 1st quarter. Clearbridge Investments LLC now owns 14,863,818 shares of the financial services provider’s stock valued at $635,577,000 after acquiring an additional 2,880,846 shares in the last quarter. CIBC Private Wealth Group LLC increased its stake in shares of Charles Schwab by 132.2% in the 2nd quarter. CIBC Private Wealth Group LLC now owns 3,490,027 shares of the financial services provider’s stock valued at $140,265,000 after acquiring an additional 1,987,302 shares in the last quarter. Finally, Eminence Capital LP increased its stake in shares of Charles Schwab by 61.0% in the 2nd quarter. Eminence Capital LP now owns 5,219,005 shares of the financial services provider’s stock valued at $209,752,000 after acquiring an additional 1,977,025 shares in the last quarter. Institutional investors own 80.30% of the company’s stock.

Charles Schwab Company Profile

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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Analyst Recommendations for Charles Schwab (NYSE:SCHW)

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