Charles Schwab (NYSE:SCHW) Given New $92.00 Price Target at TD Cowen

Charles Schwab (NYSE:SCHW) had its price target lifted by TD Cowen from $87.00 to $92.00 in a report released on Tuesday morning, Benzinga reports. TD Cowen currently has a buy rating on the financial services provider’s stock.

SCHW has been the subject of a number of other research reports. Keefe, Bruyette & Woods lifted their target price on Charles Schwab from $75.00 to $76.00 and gave the stock a market perform rating in a report on Tuesday. StockNews.com raised Charles Schwab from a sell rating to a hold rating in a report on Friday, March 15th. 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 report on Thursday, January 18th. JMP Securities upped their price target on shares of Charles Schwab from $77.00 to $80.00 and gave the stock a market outperform rating in a report on Tuesday, April 9th. Finally, JPMorgan Chase & Co. upped their target price on Charles Schwab from $86.00 to $89.00 and gave the stock an overweight rating in a research note on Tuesday. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of Hold and an average target price of $74.47.

Charles Schwab Stock Performance

SCHW opened at $73.42 on Tuesday. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.82. The stock has a market cap of $130.40 billion, a price-to-earnings ratio of 30.72, a PEG ratio of 1.06 and a beta of 1.01. Charles Schwab has a 12-month low of $45.65 and a 12-month high of $73.88. The business has a 50 day moving average of $68.58 and a 200-day moving average of $63.02.

Charles Schwab (NYSE:SCHW) last announced its earnings results on Wednesday, January 17th. The financial services provider reported $0.68 EPS for the quarter, topping the consensus estimate of $0.64 by $0.04. Charles Schwab had a net margin of 26.14% and a return on equity of 19.86%. The business had revenue of $4.46 billion during the quarter, compared to the consensus estimate of $4.49 billion. During the same quarter in the previous year, the firm posted $1.07 EPS. Charles Schwab’s revenue was down 18.9% compared to the same quarter last year. On average, equities research analysts expect that Charles Schwab will post 3.43 earnings per share for the current year.

Charles Schwab Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 23rd. Shareholders of record on Friday, February 9th were given a $0.25 dividend. The ex-dividend date was Thursday, February 8th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.36%. Charles Schwab’s dividend payout ratio (DPR) is presently 41.84%.

Insiders Place Their Bets

In related news, CFO Peter B. Crawford sold 5,482 shares of Charles Schwab stock in a transaction on Thursday, April 18th. The shares were sold at an average price of $73.46, for a total transaction of $402,707.72. Following the completion of the transaction, the chief financial officer now owns 60,567 shares of the company’s stock, valued at $4,449,251.82. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, CFO Peter B. Crawford sold 4,000 shares of the company’s stock in a transaction that occurred on Monday, January 22nd. The stock was sold at an average price of $64.49, for a total transaction 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Peter B. Crawford sold 5,482 shares of the company’s stock in a transaction that occurred on Thursday, April 18th. The stock was sold at an average price of $73.46, for a total value of $402,707.72. Following the transaction, the chief financial officer now directly owns 60,567 shares in the company, valued at $4,449,251.82. The disclosure for this sale can be found here. In the last 90 days, insiders sold 312,800 shares of company stock worth $21,081,569. 6.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Charles Schwab

Hedge funds have recently added to or reduced their stakes in the stock. Vontobel Holding Ltd. boosted its holdings in Charles Schwab by 7.5% during the 1st quarter. Vontobel Holding Ltd. now owns 20,822 shares of the financial services provider’s stock worth $1,847,000 after acquiring an additional 1,452 shares during the last quarter. Moors & Cabot Inc. lifted its holdings in Charles Schwab by 4.3% during the first quarter. Moors & Cabot Inc. now owns 6,263 shares of the financial services provider’s stock worth $528,000 after acquiring an additional 259 shares during the period. Sequoia Financial Advisors LLC boosted its position in Charles Schwab by 25.4% in the first quarter. Sequoia Financial Advisors LLC now owns 13,064 shares of the financial services provider’s stock worth $1,101,000 after purchasing an additional 2,648 shares during the last quarter. Brighton Jones LLC grew its stake in Charles Schwab by 7.5% in the 1st quarter. Brighton Jones LLC now owns 3,807 shares of the financial services provider’s stock valued at $321,000 after purchasing an additional 267 shares during the period. Finally, Covestor Ltd increased its position in shares of Charles Schwab by 16.6% during the 1st quarter. Covestor Ltd now owns 1,239 shares of the financial services provider’s stock valued at $104,000 after purchasing 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.