Charles Schwab (NYSE:SCHW) Given New $99.00 Price Target at Raymond James Financial

Charles Schwab (NYSE:SCHW) had its target price upped by research analysts at Raymond James Financial from $91.00 to $99.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has an “outperform” rating on the financial services provider’s stock. Raymond James Financial’s price target suggests a potential upside of 7.31% from the stock’s current price.

Other equities analysts also recently issued reports about the stock. Piper Sandler upped their price objective on shares of Charles Schwab from $74.00 to $80.00 in a report on Thursday, April 17th. JMP Securities restated a “market outperform” rating and issued a $94.00 price target on shares of Charles Schwab in a research note on Monday, April 21st. JPMorgan Chase & Co. upped their price target on shares of Charles Schwab from $92.00 to $95.00 and gave the company an “overweight” rating in a research note on Monday, April 21st. William Blair cut shares of Charles Schwab from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 3rd. Finally, Truist Financial upped their price objective on shares of Charles Schwab from $97.00 to $100.00 and gave the stock a “buy” rating in a research report on Monday, June 16th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat, Charles Schwab has an average rating of “Moderate Buy” and a consensus target price of $90.85.

Charles Schwab Stock Performance

SCHW stock traded up $0.30 during trading hours on Wednesday, reaching $92.25. The stock had a trading volume of 478,597 shares, compared to its average volume of 9,535,228. The stock has a market capitalization of $167.62 billion, a PE ratio of 27.95, a price-to-earnings-growth ratio of 0.99 and a beta of 0.93. The stock has a 50-day simple moving average of $87.91 and a 200 day simple moving average of $81.08. Charles Schwab has a fifty-two week low of $61.01 and a fifty-two week high of $92.80. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.53 and a quick ratio of 0.53.

Charles Schwab (NYSE:SCHW) last released its quarterly earnings data on Thursday, April 17th. The financial services provider reported $1.04 earnings per share for the quarter, topping the consensus estimate of $1.01 by $0.03. The company had revenue of $5.60 billion for the quarter, compared to analyst estimates of $5.46 billion. Charles Schwab had a net margin of 31.71% and a return on equity of 18.31%. During the same period in the previous year, the business earned $0.74 EPS. Analysts predict that Charles Schwab will post 4.22 EPS for the current fiscal year.

Insider Activity

In other Charles Schwab news, insider Jonathan M. Craig sold 47,500 shares of Charles Schwab stock in a transaction that occurred on Wednesday, May 21st. The shares were sold at an average price of $88.46, for a total transaction of $4,201,850.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Paula A. Sneed sold 8,647 shares of Charles Schwab stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $88.06, for a total transaction of $761,454.82. Following the completion of the sale, the director directly owned 105,654 shares in the company, valued at $9,303,891.24. This trade represents a 7.57% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 119,905 shares of company stock worth $10,530,833. Corporate insiders own 6.30% of the company’s stock.

Institutional Investors Weigh In On Charles Schwab

Hedge funds and other institutional investors have recently bought and sold shares of the business. Atwood & Palmer Inc. bought a new position in shares of Charles Schwab in the first quarter worth $25,000. Westside Investment Management Inc. increased its holdings in shares of Charles Schwab by 75.0% in the first quarter. Westside Investment Management Inc. now owns 350 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 150 shares during the period. CBIZ Investment Advisory Services LLC increased its holdings in shares of Charles Schwab by 97.9% in the first quarter. CBIZ Investment Advisory Services LLC now owns 386 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 191 shares during the period. Stone House Investment Management LLC purchased a new position in Charles Schwab in the first quarter worth $31,000. Finally, Activest Wealth Management grew its position in Charles Schwab by 6,650.0% in the first quarter. Activest Wealth Management now owns 405 shares of the financial services provider’s stock worth $32,000 after acquiring an additional 399 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.