Charles Schwab (NYSE:SCHW) Stock Price Up 2.6% on Analyst Upgrade

The Charles Schwab Co. (NYSE:SCHW)’s stock price traded up 2.6% on Wednesday after TD Cowen raised their price target on the stock from $87.00 to $92.00. TD Cowen currently has a buy rating on the stock. Charles Schwab traded as high as $73.26 and last traded at $73.07. 12,021,566 shares traded hands during trading, an increase of 80% from the average session volume of 6,668,537 shares. The stock had previously closed at $71.23.

Several other equities analysts have also issued reports on SCHW. Morgan Stanley boosted their target price on Charles Schwab from $65.00 to $71.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 9th. Raymond James decreased their target price on Charles Schwab from $78.00 to $75.00 and set an “outperform” rating for the company in a research report on Thursday, January 18th. Barclays boosted their target price on Charles Schwab from $74.00 to $75.00 and gave the stock an “equal weight” rating in a research report on Tuesday. Citigroup boosted their price objective on Charles Schwab from $70.00 to $75.00 and gave the company a “neutral” rating in a research report on Thursday, April 11th. Finally, JMP Securities boosted their price objective on Charles Schwab from $77.00 to $80.00 and gave the company a “market outperform” rating in a research report on Tuesday, April 9th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, Charles Schwab has an average rating of “Hold” and an average price target of $74.47.

Insiders Place Their Bets

In other news, CFO Peter B. Crawford sold 5,482 shares of the company’s stock in a transaction that occurred on Thursday, April 18th. The stock was sold at an average price of $73.46, for a total transaction of $402,707.72. Following the sale, the chief financial officer now owns 60,567 shares in the company, valued at approximately $4,449,251.82. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, insider Nigel J. Murtagh sold 29,991 shares of the company’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 transaction of $2,033,389.80. Following the sale, the insider now owns 81,446 shares in the company, valued at approximately $5,522,038.80. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Peter B. Crawford sold 5,482 shares of the company’s stock in a transaction that occurred on Thursday, April 18th. The stock was sold at an average price of $73.46, for a total value of $402,707.72. Following the sale, the chief financial officer now owns 60,567 shares in the company, valued at approximately $4,449,251.82. The disclosure for this sale can be found here. Insiders sold a total of 312,800 shares of company stock valued at $21,081,569 in the last quarter. 6.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Charles Schwab

A number of institutional investors and hedge funds have recently made changes to their positions in SCHW. Vontobel Holding Ltd. raised its stake in Charles Schwab by 7.5% in the 1st quarter. Vontobel Holding Ltd. now owns 20,822 shares of the financial services provider’s stock valued at $1,847,000 after acquiring an additional 1,452 shares during the period. Moors & Cabot Inc. raised its stake in Charles Schwab by 4.3% in the 1st quarter. Moors & Cabot Inc. now owns 6,263 shares of the financial services provider’s stock valued at $528,000 after acquiring an additional 259 shares during the period. Sequoia Financial Advisors LLC raised its stake in Charles Schwab by 25.4% in the 1st quarter. Sequoia Financial Advisors LLC now owns 13,064 shares of the financial services provider’s stock valued at $1,101,000 after acquiring an additional 2,648 shares during the period. Brighton Jones LLC raised its stake in Charles Schwab by 7.5% in the 1st quarter. Brighton Jones LLC now owns 3,807 shares of the financial services provider’s stock valued at $321,000 after acquiring an additional 267 shares during the period. Finally, Covestor Ltd raised its stake in Charles Schwab by 16.6% in the 1st quarter. Covestor Ltd now owns 1,239 shares of the financial services provider’s stock valued at $104,000 after acquiring an additional 176 shares during the period. Institutional investors own 84.38% of the company’s stock.

Charles Schwab Trading Up 0.6 %

The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.43 and a current ratio of 0.43. The business has a fifty day simple moving average of $68.38 and a 200 day simple moving average of $62.89. The stock has a market capitalization of $129.51 billion, a price-to-earnings ratio of 30.51, a price-to-earnings-growth ratio of 1.10 and a beta of 1.01.

Charles Schwab (NYSE:SCHW) last issued its quarterly earnings data 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. Charles Schwab had a return on equity of 19.86% and a net margin of 26.14%. The firm had revenue of $4.46 billion for the quarter, compared to analyst estimates of $4.49 billion. During the same period in the prior year, the firm posted $1.07 EPS. The company’s revenue for the quarter was down 18.9% on a year-over-year basis. As a group, research analysts expect that The Charles Schwab Co. will post 3.41 EPS for the current year.

Charles Schwab Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 23rd. Shareholders of record on Friday, February 9th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.37%. The ex-dividend date of this dividend was Thursday, February 8th. Charles Schwab’s dividend payout ratio is 41.84%.

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.