Charles Schwab (NYSE:SCHW) Downgraded to “Market Perform” at Raymond James

Raymond James cut shares of Charles Schwab (NYSE:SCHW) from an outperform rating to a market perform rating in a report published on Tuesday morning, Briefing.com Automated Import reports. The analysts noted that the move was a valuation call.

Other research analysts also recently issued reports about the stock. Credit Suisse Group cut their price target on shares of Charles Schwab from $55.00 to $49.00 and set an outperform rating for the company in a report on Tuesday, October 1st. Barclays reissued a sell rating and issued a $35.00 price target on shares of Charles Schwab in a report on Tuesday, October 22nd. Keefe, Bruyette & Woods downgraded shares of Charles Schwab from an outperform rating to a market perform rating and cut their price target for the company from $51.00 to $43.50 in a report on Friday, July 12th. Argus reissued a buy rating and issued a $52.00 price target (down from $57.00) on shares of Charles Schwab in a report on Wednesday, July 17th. Finally, Wolfe Research raised shares of Charles Schwab from a peer perform rating to an outperform rating and raised their price target for the company from $42.00 to $46.00 in a report on Tuesday, September 3rd. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and eight have issued a buy rating to the company. The company currently has a consensus rating of Hold and a consensus price target of $44.38.

NYSE:SCHW traded up $0.04 during trading hours on Tuesday, hitting $43.54. The stock had a trading volume of 4,190,290 shares, compared to its average volume of 8,094,271. The company has a 50 day simple moving average of $40.03 and a two-hundred day simple moving average of $41.16. 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 has a one year low of $34.58 and a one year high of $48.52. The firm has a market capitalization of $56.76 billion, a price-to-earnings ratio of 17.77, a P/E/G ratio of 2.73 and a beta of 1.32.

Charles Schwab (NYSE:SCHW) last announced its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $0.70 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.65 by $0.05. Charles Schwab had a net margin of 35.12% and a return on equity of 20.85%. The firm had revenue of $2.71 billion during the quarter, compared to the consensus estimate of $2.65 billion. During the same period last year, the firm earned $0.65 EPS. The business’s quarterly revenue was up 5.1% compared to the same quarter last year. Equities research analysts anticipate that Charles Schwab will post 2.73 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Friday, November 8th will be issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.56%. The ex-dividend date is Thursday, November 7th. Charles Schwab’s dividend payout ratio is currently 27.76%.

In other news, Chairman Charles R. Schwab sold 105,422 shares of Charles Schwab stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $40.08, for a total transaction of $4,225,313.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Stephen T. Mclin sold 5,093 shares of Charles Schwab stock in a transaction 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 sale, the director now directly owns 7,297 shares of the company’s stock, valued at $274,075.32. The disclosure for this sale can be found here. Insiders have sold a total of 219,677 shares of company stock valued at $8,993,241 over the last ninety days. 10.90% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Canada Pension Plan Investment Board lifted its stake in Charles Schwab by 5.2% in the second quarter. Canada Pension Plan Investment Board now owns 1,195,391 shares of the financial services provider’s stock worth $48,043,000 after purchasing an additional 59,260 shares during the last quarter. Comerica Bank lifted its stake in Charles Schwab by 2.1% in the second quarter. Comerica Bank now owns 281,960 shares of the financial services provider’s stock worth $11,619,000 after purchasing an additional 5,665 shares during the last quarter. Chemical Bank lifted its stake in Charles Schwab by 2.3% in the second quarter. Chemical Bank now owns 54,203 shares of the financial services provider’s stock worth $2,179,000 after purchasing an additional 1,236 shares during the last quarter. Rathbone Brothers plc lifted its stake in Charles Schwab by 3.2% in the second quarter. Rathbone Brothers plc now owns 15,943 shares of the financial services provider’s stock worth $641,000 after purchasing an additional 495 shares during the last quarter. Finally, Atlanta Capital Management Co. L L C lifted its stake in Charles Schwab by 2.9% in the second quarter. Atlanta Capital Management Co. L L C now owns 936,913 shares of the financial services provider’s stock worth $37,655,000 after purchasing an additional 26,327 shares during the last quarter. 79.10% of the stock is owned by institutional investors.

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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Analyst Recommendations for Charles Schwab (NYSE:SCHW)

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