Bank of America Forecasts Strong Price Appreciation for Charles Schwab (NYSE:SCHW) Stock

Charles Schwab (NYSE:SCHW) had its price objective lifted by analysts at Bank of America from $83.00 to $84.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm currently has an “underperform” rating on the financial services provider’s stock. Bank of America‘s target price indicates a potential downside of 12.38% from the company’s previous close.

A number of other analysts have also recently weighed in on the company. Barclays reaffirmed an “overweight” rating on shares of Charles Schwab in a research report on Friday. Citigroup reaffirmed an “outperform” rating on shares of Charles Schwab in a research report on Monday, July 14th. Wells Fargo & Company set a $102.00 price objective on Charles Schwab and gave the stock an “overweight” rating in a research report on Friday. The Goldman Sachs Group raised Charles Schwab from a “neutral” rating to a “buy” rating and set a $100.00 price objective for the company in a research report on Friday, April 25th. Finally, Redburn Atlantic raised Charles Schwab from a “sell” rating to a “neutral” rating and increased their price objective for the stock from $65.00 to $82.00 in a research report on Monday, June 9th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $97.50.

Charles Schwab Trading Up 3.0%

NYSE:SCHW opened at $95.87 on Monday. The stock’s 50 day moving average price is $89.44 and its 200 day moving average price is $82.15. The company has a market capitalization of $174.19 billion, a PE ratio of 25.77, a P/E/G ratio of 1.00 and a beta of 0.93. The company has a quick ratio of 0.53, a current ratio of 0.53 and a debt-to-equity ratio of 0.53. Charles Schwab has a 52-week low of $61.15 and a 52-week high of $97.50.

Charles Schwab (NYSE:SCHW) last released its quarterly earnings results on Friday, July 18th. The financial services provider reported $1.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.10 by $0.04. The firm had revenue of $5.85 billion for the quarter, compared to the consensus estimate of $5.64 billion. Charles Schwab had a return on equity of 19.73% and a net margin of 33.68%. The firm’s quarterly revenue was up 24.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.73 EPS. On average, research analysts anticipate that Charles Schwab will post 4.22 EPS for the current year.

Insider Transactions at Charles Schwab

In related news, insider Jonathan M. Craig sold 47,500 shares of the firm’s stock in a transaction that occurred on Wednesday, May 21st. The stock was sold at an average price of $88.46, for a total value of $4,201,850.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Paul V. Woolway sold 10,129 shares of the firm’s stock in a transaction on Wednesday, June 18th. The stock was sold at an average price of $90.01, for a total value of $911,711.29. Following the transaction, the insider directly owned 39,154 shares of the company’s stock, valued at $3,524,251.54. The trade was a 20.55% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 116,313 shares of company stock worth $10,264,091 over the last ninety days. 6.30% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Charles Schwab

A number of hedge funds and other institutional investors have recently made changes to their positions in SCHW. Pine Haven Investment Counsel Inc raised its holdings in shares of Charles Schwab by 0.3% in the 2nd quarter. Pine Haven Investment Counsel Inc now owns 41,793 shares of the financial services provider’s stock valued at $3,813,000 after purchasing an additional 110 shares during the period. Traveka Wealth LLC raised its holdings in shares of Charles Schwab by 4.3% in the 2nd quarter. Traveka Wealth LLC now owns 2,841 shares of the financial services provider’s stock valued at $259,000 after purchasing an additional 117 shares during the period. Bank of Stockton raised its holdings in shares of Charles Schwab by 1.2% in the 2nd quarter. Bank of Stockton now owns 10,593 shares of the financial services provider’s stock valued at $967,000 after purchasing an additional 123 shares during the period. Sheaff Brock Investment Advisors LLC raised its holdings in shares of Charles Schwab by 1.6% in the 1st quarter. Sheaff Brock Investment Advisors LLC now owns 7,986 shares of the financial services provider’s stock valued at $625,000 after purchasing an additional 129 shares during the period. Finally, HM Payson & Co. raised its holdings in Charles Schwab by 0.7% in the 1st quarter. HM Payson & Co. now owns 19,271 shares of the financial services provider’s stock valued at $1,509,000 after acquiring an additional 130 shares during the period. Hedge funds and other 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.