JMP Securities Cuts Charles Schwab (NYSE:SCHW) Price Target to $94.00

Charles Schwab (NYSE:SCHW) had its price target lowered by JMP Securities from $96.00 to $94.00 in a report released on Tuesday,Benzinga reports. The brokerage currently has a market outperform rating on the financial services provider’s stock.

Several other analysts have also weighed in on the company. UBS Group lifted their price objective on Charles Schwab from $90.00 to $95.00 and gave the stock a “buy” rating in a report on Monday, January 27th. Jefferies Financial Group boosted their price target on shares of Charles Schwab from $84.00 to $94.00 and gave the company a “buy” rating in a report on Monday, December 9th. Citigroup raised shares of Charles Schwab from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $85.00 to $102.00 in a report on Wednesday, April 2nd. Piper Sandler lowered their target price on shares of Charles Schwab from $78.00 to $74.00 and set a “neutral” rating on the stock in a research note on Tuesday. Finally, Morgan Stanley upgraded shares of Charles Schwab from an “equal weight” rating to an “overweight” rating and set a $76.00 price target for the company in a research note on Tuesday. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $85.33.

Charles Schwab Price Performance

NYSE:SCHW opened at $73.76 on Tuesday. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.47 and a quick ratio of 0.47. Charles Schwab has a one year low of $61.01 and a one year high of $84.50. The company has a fifty day moving average price of $77.87 and a 200 day moving average price of $76.05. The stock has a market cap of $133.77 billion, a P/E ratio of 24.67, a PEG ratio of 0.99 and a beta of 0.91.

Charles Schwab (NYSE:SCHW) last announced its quarterly earnings data on Tuesday, January 21st. The financial services provider reported $1.01 EPS for the quarter, beating analysts’ consensus estimates of $0.90 by $0.11. Charles Schwab had a net margin of 30.31% and a return on equity of 18.20%. The business had revenue of $5.33 billion during the quarter, compared to analyst estimates of $5.19 billion. During the same quarter in the prior year, the business earned $0.68 earnings per share. The firm’s revenue for the quarter was up 19.5% on a year-over-year basis. Analysts anticipate that Charles Schwab will post 4.22 earnings per share for the current year.

Charles Schwab Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 14th were given a dividend of $0.27 per share. This is a boost from Charles Schwab’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Friday, February 14th. This represents a $1.08 annualized dividend and a dividend yield of 1.46%. Charles Schwab’s payout ratio is currently 36.12%.

Insider Buying and Selling

In other news, Chairman Walter W. Bettinger sold 464,629 shares of the business’s stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $81.91, for a total transaction of $38,057,761.39. Following the completion of the transaction, the chairman now directly owns 827,377 shares in the company, valued at approximately $67,770,450.07. The trade was a 35.96 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel Peter J. Morgan III sold 14,643 shares of the stock in a transaction that occurred on Wednesday, January 22nd. The shares were sold at an average price of $80.70, for a total transaction of $1,181,690.10. The disclosure for this sale can be found here. Insiders sold a total of 513,081 shares of company stock valued at $41,903,066 over the last ninety days. Insiders own 6.60% of the company’s stock.

Institutional Trading of Charles Schwab

Large investors have recently made changes to their positions in the company. Merit Financial Group LLC raised its holdings in Charles Schwab by 230.1% during the 4th quarter. Merit Financial Group LLC now owns 33,546 shares of the financial services provider’s stock worth $2,483,000 after buying an additional 23,383 shares during the period. Benjamin Edwards Inc. raised its holdings in shares of Charles Schwab by 2,840.7% during the third quarter. Benjamin Edwards Inc. now owns 6,146 shares of the financial services provider’s stock worth $398,000 after acquiring an additional 5,937 shares during the period. Synovus Financial Corp lifted its position in Charles Schwab by 46.0% in the 3rd quarter. Synovus Financial Corp now owns 67,889 shares of the financial services provider’s stock valued at $4,400,000 after acquiring an additional 21,377 shares in the last quarter. Oregon Pacific Wealth Management LLC acquired a new position in Charles Schwab in the 4th quarter worth $688,000. Finally, Golden State Equity Partners increased its holdings in Charles Schwab by 293.9% during the 4th quarter. Golden State Equity Partners now owns 12,207 shares of the financial services provider’s stock worth $903,000 after purchasing an additional 9,108 shares in the last quarter. Institutional investors 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.