Charles Schwab (NYSE:SCHW) Price Target Lowered to $113.00 at Deutsche Bank Aktiengesellschaft

Charles Schwab (NYSE:SCHW) had its price objective decreased by Deutsche Bank Aktiengesellschaft from $114.00 to $113.00 in a research report report published on Tuesday morning, MarketBeat Ratings reports. Deutsche Bank Aktiengesellschaft currently has a buy rating on the financial services provider’s stock.

SCHW has been the subject of a number of other reports. William Blair cut Charles Schwab from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 3rd. Bank of America increased their price target on Charles Schwab from $83.00 to $84.00 and gave the stock an “underperform” rating in a report on Monday, July 21st. Wells Fargo & Company set a $102.00 price objective on shares of Charles Schwab and gave the stock an “overweight” rating in a research report on Friday, July 18th. TD Securities raised their target price on shares of Charles Schwab from $95.00 to $113.00 and gave the stock a “buy” rating in a research note on Tuesday, May 20th. Finally, Redburn Atlantic upgraded shares of Charles Schwab from a “sell” rating to a “neutral” rating and boosted their price target for the stock from $65.00 to $82.00 in a research note on Monday, June 9th. Sixteen equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $100.00.

Charles Schwab Stock Up 1.3%

Shares of NYSE:SCHW opened at $93.30 on Tuesday. Charles Schwab has a 1-year low of $62.41 and a 1-year high of $99.59. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.55 and a quick ratio of 0.55. The stock has a market cap of $169.35 billion, a P/E ratio of 25.08, a P/E/G ratio of 0.91 and a beta of 0.96. The firm has a fifty day moving average price of $95.38 and a 200 day moving average price of $87.13.

Charles Schwab (NYSE:SCHW) last announced its earnings results on Friday, July 18th. The financial services provider reported $1.14 EPS for the quarter, beating analysts’ consensus estimates of $1.10 by $0.04. Charles Schwab had a net margin of 33.68% and a return on equity of 19.30%. The business had revenue of $5.85 billion during the quarter, compared to analysts’ expectations of $5.64 billion. During the same period in the prior year, the company earned $0.73 earnings per share. The business’s revenue was up 24.8% compared to the same quarter last year. Sell-side analysts predict that Charles Schwab will post 4.22 EPS for the current year.

Charles Schwab Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 22nd. Stockholders of record on Friday, August 8th were issued a dividend of $0.27 per share. The ex-dividend date was Friday, August 8th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.2%. Charles Schwab’s payout ratio is 29.03%.

Charles Schwab announced that its Board of Directors has initiated a share buyback program on Thursday, July 24th that permits the company to buyback $20.00 billion in outstanding shares. This buyback authorization permits the financial services provider to reacquire up to 11.6% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are undervalued.

Insider Transactions at Charles Schwab

In related news, insider Paul V. Woolway sold 3,290 shares of Charles Schwab stock in a transaction on Friday, August 1st. The stock was sold at an average price of $96.06, for a total value of $316,037.40. Following the transaction, the insider owned 41,188 shares in the company, valued at approximately $3,956,519.28. This trade represents a 7.40% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jonathan S. Beatty sold 6,144 shares of Charles Schwab stock in a transaction dated Thursday, August 28th. The shares were sold at an average price of $96.81, for a total value of $594,800.64. Following the completion of the transaction, the insider directly owned 11,923 shares in the company, valued at $1,154,265.63. This represents a 34.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 267,213 shares of company stock valued at $26,232,180. Corporate insiders own 6.30% of the company’s stock.

Hedge Funds Weigh In On Charles Schwab

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Bain Capital Public Equity Management II LLC acquired a new position in shares of Charles Schwab in the 1st quarter valued at approximately $79,605,000. Independent Advisor Alliance increased its stake in shares of Charles Schwab by 13.8% in the first quarter. Independent Advisor Alliance now owns 39,103 shares of the financial services provider’s stock worth $3,061,000 after buying an additional 4,754 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH raised its holdings in Charles Schwab by 6.2% in the first quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 1,181,563 shares of the financial services provider’s stock valued at $92,493,000 after acquiring an additional 68,858 shares in the last quarter. United Services Automobile Association boosted its stake in Charles Schwab by 14.1% during the 1st quarter. United Services Automobile Association now owns 39,512 shares of the financial services provider’s stock valued at $3,074,000 after acquiring an additional 4,869 shares during the last quarter. Finally, World Investment Advisors grew its holdings in Charles Schwab by 7.6% during the 1st quarter. World Investment Advisors now owns 163,007 shares of the financial services provider’s stock worth $12,760,000 after acquiring an additional 11,505 shares in the last quarter. 84.38% of the stock is owned by institutional investors and hedge funds.

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.