JPMorgan Chase & Co. Boosts Charles Schwab (NYSE:SCHW) Price Target to $89.00

Charles Schwab (NYSE:SCHW) had its target price raised by JPMorgan Chase & Co. from $86.00 to $89.00 in a report released on Tuesday morning, Benzinga reports. They currently have an overweight rating on the financial services provider’s stock.

Several other brokerages have also issued reports on SCHW. Deutsche Bank Aktiengesellschaft lifted their price target on Charles Schwab from $75.00 to $77.00 and gave the company a buy rating in a research note on Tuesday, March 19th. Citigroup lifted their price target on Charles Schwab from $70.00 to $75.00 and gave the company a neutral rating in a research note on Thursday, April 11th. The Goldman Sachs Group reiterated a neutral rating and issued a $71.00 price target (up previously from $70.00) on shares of Charles Schwab in a research note on Wednesday, January 3rd. Raymond James decreased their price target on Charles Schwab from $78.00 to $75.00 and set an outperform rating on the stock in a research note on Thursday, January 18th. Finally, StockNews.com upgraded Charles Schwab from a sell rating to a hold rating in a research note on Friday, March 15th. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of Hold and an average price target of $74.47.

Charles Schwab Price Performance

Shares of NYSE SCHW opened at $72.92 on Tuesday. The stock has a market capitalization of $129.51 billion, a PE ratio of 30.51, a P/E/G ratio of 1.10 and a beta of 1.01. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.43 and a quick ratio of 0.43. The business has a fifty day moving average price of $68.38 and a two-hundred day moving average price of $62.89. Charles Schwab has a fifty-two week low of $45.65 and a fifty-two week high of $73.88.

Charles Schwab (NYSE:SCHW) last announced its quarterly earnings data on Wednesday, January 17th. The financial services provider reported $0.68 earnings per share for the quarter, beating the consensus estimate of $0.64 by $0.04. The firm had revenue of $4.46 billion during the quarter, compared to analysts’ expectations of $4.49 billion. Charles Schwab had a return on equity of 19.86% and a net margin of 26.14%. The company’s quarterly revenue was down 18.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.07 EPS. As a group, equities analysts predict that Charles Schwab will post 3.41 earnings per share for the current fiscal year.

Charles Schwab Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 23rd. Stockholders of record on Friday, February 9th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.37%. The ex-dividend date was Thursday, February 8th. Charles Schwab’s dividend payout ratio is 41.84%.

Insider Activity

In other news, CFO Peter B. Crawford sold 4,000 shares of the business’s stock in a transaction dated Monday, January 22nd. The stock was sold at an average price of $64.49, for a total value of $257,960.00. Following the transaction, the chief financial officer now directly owns 37,611 shares of the company’s stock, valued at approximately $2,425,533.39. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, General Counsel Peter J. Morgan III sold 24,520 shares of Charles Schwab stock in a transaction on Tuesday, April 16th. The shares were sold at an average price of $72.23, for a total value of $1,771,079.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Peter B. Crawford sold 4,000 shares of Charles Schwab stock in a transaction on Monday, January 22nd. The shares were sold at an average price of $64.49, for a total transaction of $257,960.00. Following the completion of the sale, the chief financial officer now directly owns 37,611 shares of the company’s stock, valued at approximately $2,425,533.39. The disclosure for this sale can be found here. Insiders have sold 312,800 shares of company stock valued at $21,081,569 in the last ninety days. 6.60% of the stock is owned by company insiders.

Institutional Trading of Charles Schwab

Several hedge funds have recently bought and sold shares of SCHW. Vontobel Holding Ltd. grew its position in Charles Schwab by 7.5% in the 1st quarter. Vontobel Holding Ltd. now owns 20,822 shares of the financial services provider’s stock valued at $1,847,000 after purchasing an additional 1,452 shares during the period. Moors & Cabot Inc. grew its position in Charles Schwab by 4.3% in the 1st quarter. Moors & Cabot Inc. now owns 6,263 shares of the financial services provider’s stock valued at $528,000 after purchasing an additional 259 shares during the period. Sequoia Financial Advisors LLC grew its position in Charles Schwab by 25.4% in the 1st quarter. Sequoia Financial Advisors LLC now owns 13,064 shares of the financial services provider’s stock valued at $1,101,000 after purchasing an additional 2,648 shares during the period. Brighton Jones LLC boosted its holdings in Charles Schwab by 7.5% during the 1st quarter. Brighton Jones LLC now owns 3,807 shares of the financial services provider’s stock worth $321,000 after acquiring an additional 267 shares during the last quarter. Finally, Covestor Ltd boosted its holdings in Charles Schwab by 16.6% during the 1st quarter. Covestor Ltd now owns 1,239 shares of the financial services provider’s stock worth $104,000 after acquiring an additional 176 shares during the last quarter. Institutional investors and hedge funds own 84.38% of the company’s stock.

About Charles Schwab

The Charles Schwab Corporation, together with its subsidiaries, operates as a savings and loan holding company that provides wealth management, securities brokerage, banking, asset management, custody, and financial advisory services in the United States and internationally. The company operates in two segments, Investor Services and Advisor Services.