The Charles Schwab (NYSE:SCHW) Rating Increased to Conviction-Buy at The Goldman Sachs Group

The Goldman Sachs Group upgraded shares of The Charles Schwab (NYSE:SCHW) from a buy rating to a conviction-buy rating in a research note released on Monday morning, The Fly reports. They currently have $77.00 target price on the financial services provider’s stock, up from their previous target price of $67.00.

SCHW has been the topic of several other research reports. JPMorgan Chase & Co. began coverage on The Charles Schwab in a research report on Thursday, March 4th. They issued an overweight rating on the stock. Bank of America raised The Charles Schwab from a neutral rating to a buy rating and upped their target price for the company from $52.00 to $68.00 in a research report on Tuesday, January 12th. Wolfe Research raised The Charles Schwab from an underperform rating to a market perform rating and set a $67.00 target price on the stock in a research report on Monday, February 22nd. Zacks Investment Research downgraded The Charles Schwab from a buy rating to a hold rating and set a $68.00 target price on the stock. in a research report on Tuesday, March 9th. Finally, Morgan Stanley upped their target price on The Charles Schwab from $76.00 to $83.00 and gave the company an overweight rating in a research report on Wednesday, March 31st. Five research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of Buy and an average target price of $60.07.

Shares of NYSE SCHW opened at $67.05 on Monday. The business’s 50 day moving average price is $64.70 and its two-hundred day moving average price is $52.26. The company has a market cap of $120.89 billion, a PE ratio of 31.04 and a beta of 1.17. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.30. The Charles Schwab has a twelve month low of $31.63 and a twelve month high of $68.89.

The Charles Schwab (NYSE:SCHW) last announced its quarterly earnings results on Monday, January 18th. The financial services provider reported $0.74 earnings per share for the quarter, topping analysts’ consensus estimates of $0.70 by $0.04. The Charles Schwab had a return on equity of 13.52% and a net margin of 29.80%. The firm had revenue of $4.18 billion for the quarter, compared to the consensus estimate of $4.07 billion. During the same quarter in the previous year, the business earned $0.63 earnings per share. The business’s revenue was up 60.2% compared to the same quarter last year. As a group, research analysts anticipate that The Charles Schwab will post 2.39 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, February 26th. Shareholders of record on Friday, February 12th were paid a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 1.07%. The ex-dividend date of this dividend was Thursday, February 11th. The Charles Schwab’s payout ratio is presently 26.47%.

In other news, CFO Peter B. Crawford sold 3,500 shares of the company’s stock in a transaction on Friday, March 12th. The shares were sold at an average price of $68.00, for a total transaction of $238,000.00. Following the completion of the transaction, the chief financial officer now directly owns 798 shares in the company, valued at $54,264. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Jonathan M. Craig sold 2,241 shares of the company’s stock in a transaction on Tuesday, April 6th. The stock was sold at an average price of $67.94, for a total transaction of $152,253.54. The disclosure for this sale can be found here. Insiders have sold 1,372,113 shares of company stock valued at $81,135,176 over the last 90 days. Corporate insiders own 10.80% of the company’s stock.

Several large investors have recently made changes to their positions in the company. Hodges Capital Management Inc. acquired a new position in shares of The Charles Schwab during the first quarter worth $8,468,000. Carroll Financial Associates Inc. increased its holdings in The Charles Schwab by 27.8% in the first quarter. Carroll Financial Associates Inc. now owns 1,079 shares of the financial services provider’s stock valued at $70,000 after purchasing an additional 235 shares during the period. Private Trust Co. NA acquired a new stake in The Charles Schwab in the first quarter valued at $222,000. Everence Capital Management Inc. acquired a new stake in The Charles Schwab in the first quarter valued at $2,006,000. Finally, Legacy Wealth Asset Management LLC acquired a new stake in The Charles Schwab in the fourth quarter valued at $901,000. Institutional investors own 77.47% of the company’s stock.

About The 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 in 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 The Charles Schwab (NYSE:SCHW)

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