The Charles Schwab Corporation (SCHW) Now Covered by Barclays PLC

Barclays PLC assumed coverage on shares of The Charles Schwab Corporation (NYSE:SCHW) in a research note issued on Friday. The firm set an “overweight” rating and a $48.00 price target on the financial services provider’s stock. Barclays PLC’s target price suggests a potential upside of 24.10% from the company’s previous close.

A number of other research analysts also recently issued reports on the company. Deutsche Bank AG reiterated a “buy” rating and set a $45.00 price objective (up from $44.00) on shares of The Charles Schwab Corporation in a report on Monday, May 15th. Morgan Stanley reiterated an “overweight” rating and set a $51.00 price objective (up from $48.00) on shares of The Charles Schwab Corporation in a report on Tuesday, July 25th. Nomura downgraded The Charles Schwab Corporation from a “buy” rating to a “neutral” rating in a report on Monday, July 24th. BidaskClub downgraded The Charles Schwab Corporation from a “buy” rating to a “hold” rating in a report on Wednesday, July 19th. Finally, Jefferies Group LLC reiterated a “buy” rating and set a $48.00 price objective on shares of The Charles Schwab Corporation in a report on Wednesday, May 31st. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and twelve have assigned a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $44.72.

Shares of The Charles Schwab Corporation (NYSE SCHW) opened at 38.68 on Friday. The firm has a market capitalization of $51.80 billion, a price-to-earnings ratio of 25.96 and a beta of 1.64. The stock’s 50 day moving average price is $40.91 and its 200 day moving average price is $40.86. The Charles Schwab Corporation has a one year low of $29.86 and a one year high of $44.10.

The Charles Schwab Corporation (NYSE:SCHW) last posted its quarterly earnings data on Tuesday, July 18th. The financial services provider reported $0.39 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.39. The business had revenue of $2.13 billion during the quarter, compared to the consensus estimate of $2.13 billion. The Charles Schwab Corporation had a return on equity of 15.41% and a net margin of 26.73%. The Charles Schwab Corporation’s quarterly revenue was up 16.5% on a year-over-year basis. During the same period last year, the company earned $0.30 earnings per share. Analysts expect that The Charles Schwab Corporation will post $1.61 EPS for the current fiscal year.

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In other news, Chairman Charles R. Schwab sold 350,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $43.10, for a total value of $15,085,000.00. 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 that occurred on Monday, July 3rd. The shares were sold at an average price of $43.15, for a total value of $454,628.40. Following the completion of the sale, the executive vice president now directly owns 5,212 shares of the company’s stock, valued at $224,897.80. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 925,122 shares of company stock valued at $39,733,977. Insiders own 12.00% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Gs Investments Inc. acquired a new stake in shares of The Charles Schwab Corporation in the second quarter valued at approximately $1,487,000. Lord Abbett & CO. LLC lifted its position in shares of The Charles Schwab Corporation by 30.5% in the second quarter. Lord Abbett & CO. LLC now owns 1,727,982 shares of the financial services provider’s stock valued at $74,234,000 after buying an additional 404,275 shares during the last quarter. Sentry Investment Management LLC lifted its position in shares of The Charles Schwab Corporation by 11.6% in the second quarter. Sentry Investment Management LLC now owns 96,298 shares of the financial services provider’s stock valued at $4,137,000 after buying an additional 9,971 shares during the last quarter. Toronto Dominion Bank lifted its position in shares of The Charles Schwab Corporation by 25.7% in the second quarter. Toronto Dominion Bank now owns 412,690 shares of the financial services provider’s stock valued at $17,726,000 after buying an additional 84,428 shares during the last quarter. Finally, Oak Associates Ltd. OH lifted its position in shares of The Charles Schwab Corporation by 1.1% in the second quarter. Oak Associates Ltd. OH now owns 1,093,173 shares of the financial services provider’s stock valued at $46,963,000 after buying an additional 11,957 shares during the last quarter. 79.60% of the stock is owned by institutional investors.

About The Charles Schwab Corporation

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.

Analyst Recommendations for The Charles Schwab Corporation (NYSE:SCHW)

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