Charles Schwab Co. (NYSE:SCHW) – Investment analysts at Piper Sandler increased their FY2020 EPS estimates for shares of Charles Schwab in a research note issued on Tuesday, July 21st. Piper Sandler analyst R. Repetto now expects that the financial services provider will post earnings of $2.13 per share for the year, up from their prior forecast of $2.11.
Other analysts also recently issued research reports about the stock. Cfra decreased their price target on shares of Charles Schwab from $55.00 to $40.00 and set a “buy” rating for the company in a research report on Wednesday, April 15th. Morgan Stanley decreased their price target on shares of Charles Schwab from $51.00 to $47.00 and set an “overweight” rating for the company in a research report on Friday. Wolfe Research raised shares of Charles Schwab from an “underperform” rating to a “peer perform” rating and set a $36.00 price target for the company in a research report on Thursday, July 9th. Bank of America decreased their price target on shares of Charles Schwab from $38.00 to $37.00 and set a “neutral” rating for the company in a research report on Friday, July 10th. Finally, Deutsche Bank raised their price target on shares of Charles Schwab from $37.00 to $38.00 and gave the stock a “hold” rating in a research report on Friday, July 17th. Eleven research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Charles Schwab currently has a consensus rating of “Hold” and an average price target of $42.50.
Charles Schwab (NYSE:SCHW) last posted its quarterly earnings data on Thursday, July 16th. The financial services provider reported $0.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.53 by $0.01. The company had revenue of $2.45 billion for the quarter, compared to analyst estimates of $2.48 billion. Charles Schwab had a net margin of 31.48% and a return on equity of 16.88%. The business’s quarterly revenue was down 8.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.66 earnings per share.
Several hedge funds and other institutional investors have recently modified their holdings of SCHW. Engrave Wealth Partners LLC bought a new stake in Charles Schwab in the fourth quarter worth about $25,000. CX Institutional raised its position in Charles Schwab by 109.9% in the first quarter. CX Institutional now owns 745 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 390 shares in the last quarter. Ameritas Investment Company LLC bought a new stake in Charles Schwab in the first quarter worth about $29,000. Mine & Arao Wealth Creation & Management LLC. bought a new stake in Charles Schwab in the first quarter worth about $32,000. Finally, Ballast Advisors LLC bought a new stake in Charles Schwab in the first quarter worth about $33,000. Institutional investors and hedge funds own 85.13% of the company’s stock.
In related news, Director Charles A. Ruffel bought 2,854 shares of the business’s stock in a transaction on Wednesday, July 22nd. The shares were bought at an average cost of $34.91 per share, for a total transaction of $99,633.14. Following the completion of the purchase, the director now owns 7,751 shares of the company’s stock, valued at approximately $270,587.41. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Jonathan M. Craig sold 10,935 shares of the firm’s stock in a transaction on Thursday, June 4th. The shares were sold at an average price of $40.02, for a total value of $437,618.70. The disclosure for this sale can be found here. Company insiders own 10.80% 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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