Charles Schwab (NYSE:SCHW) Price Target Raised to $70.00

Charles Schwab (NYSE:SCHW) had its price objective raised by Bank of America from $68.00 to $70.00 in a report published on Tuesday morning, Benzinga reports. Bank of America currently has an underperform rating on the financial services provider’s stock.

A number of other brokerages have also issued reports on SCHW. Piper Sandler boosted their target price on Charles Schwab from $75.00 to $78.00 and gave the company an overweight rating in a research report on Friday, April 12th. Keefe, Bruyette & Woods cut Charles Schwab from an outperform rating to a market perform rating and lowered their target price for the company from $75.00 to $70.00 in a report on Thursday, January 18th. StockNews.com raised shares of Charles Schwab from a sell rating to a hold rating in a research report on Friday, March 15th. Raymond James cut their target price on shares of 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, Barclays upped their price objective on Charles Schwab from $68.00 to $74.00 and gave the stock an equal weight rating in a research report on Monday, April 8th. Three analysts have rated the stock with a sell rating, six have given a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of Hold and an average target price of $74.47.

Charles Schwab Stock Performance

Shares of Charles Schwab stock opened at $73.42 on Tuesday. The business’s fifty day simple moving average is $68.58 and its 200-day simple moving average is $63.02. 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 firm has a market cap of $130.40 billion, a PE ratio of 30.72, a price-to-earnings-growth ratio of 1.06 and a beta of 1.01. Charles Schwab has a 52 week low of $45.65 and a 52 week high of $73.88.

Charles Schwab (NYSE:SCHW) last posted its earnings results on Wednesday, January 17th. The financial services provider reported $0.68 EPS for the quarter, beating analysts’ consensus estimates of $0.64 by $0.04. The company had revenue of $4.46 billion for the quarter, compared to analysts’ expectations of $4.49 billion. Charles Schwab had a net margin of 26.14% and a return on equity of 19.86%. Charles Schwab’s revenue for the quarter was down 18.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.07 earnings per share. Equities analysts forecast that Charles Schwab will post 3.43 earnings per share for the current year.

Charles Schwab Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, February 23rd. Stockholders of record on Friday, February 9th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.36%. The ex-dividend date of this dividend was Thursday, February 8th. Charles Schwab’s payout ratio is currently 41.84%.

Insider Activity at Charles Schwab

In other Charles Schwab news, insider Nigel J. Murtagh sold 29,991 shares of the firm’s stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $67.80, for a total value of $2,033,389.80. Following the completion of the sale, the insider now owns 81,446 shares of the company’s stock, valued at $5,522,038.80. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, insider Nigel J. Murtagh sold 29,991 shares of the firm’s stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $67.80, for a total value of $2,033,389.80. Following the completion of the transaction, the insider now directly owns 81,446 shares of the company’s stock, valued at approximately $5,522,038.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jonathan M. Craig sold 4,977 shares of the company’s stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $70.01, for a total value of $348,439.77. Following the completion of the sale, the insider now directly owns 81,446 shares in the company, valued at approximately $5,702,034.46. The disclosure for this sale can be found here. Insiders have sold a total of 312,800 shares of company stock worth $21,081,569 in the last three months. Insiders own 6.60% of the company’s stock.

Institutional Investors Weigh In On Charles Schwab

Large investors have recently bought and sold shares of the stock. Main Street Group LTD purchased a new stake in shares of Charles Schwab in the fourth quarter valued at $29,000. Tributary Capital Management LLC purchased a new position in Charles Schwab in the 1st quarter valued at about $31,000. Sugarloaf Wealth Management LLC boosted its stake in shares of Charles Schwab by 60.0% during the 4th quarter. Sugarloaf Wealth Management LLC now owns 440 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 165 shares during the last quarter. Frazier Financial Advisors LLC purchased a new stake in shares of Charles Schwab during the fourth quarter worth about $30,000. Finally, Wetzel Investment Advisors Inc. purchased a new stake in shares of Charles Schwab during the fourth quarter worth about $31,000. Institutional investors and hedge funds own 84.38% of the company’s stock.

Charles Schwab Company Profile

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.