Wells Fargo & Company Initiates Coverage on Charles Schwab (NYSE:SCHW)

Wells Fargo & Company started coverage on shares of Charles Schwab (NYSE:SCHW) in a research report report published on Thursday, Marketbeat reports. The brokerage issued an equal weight rating and a $70.00 price target on the financial services provider’s stock.

Other equities research analysts have also recently issued reports about the company. TD Cowen reiterated a hold rating and issued a $71.00 target price (down from $88.00) on shares of Charles Schwab in a research note on Wednesday, July 17th. StockNews.com lowered shares of Charles Schwab from a hold rating to a sell rating in a research note on Friday, May 24th. JMP Securities dropped their price target on shares of Charles Schwab from $85.00 to $82.00 and set a market outperform rating on the stock in a research note on Tuesday, July 23rd. Deutsche Bank Aktiengesellschaft boosted their price target on Charles Schwab from $79.00 to $80.00 and gave the stock a buy rating in a research report on Thursday, August 15th. Finally, Keefe, Bruyette & Woods reissued an outperform rating and set a $80.00 price target on shares of Charles Schwab in a report on Thursday, August 22nd. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of Hold and a consensus price target of $73.75.

Charles Schwab Trading Up 0.6 %

NYSE SCHW opened at $62.12 on Thursday. The firm has a market capitalization of $110.48 billion, a PE ratio of 25.99, a price-to-earnings-growth ratio of 1.16 and a beta of 0.97. Charles Schwab has a one year low of $48.66 and a one year high of $79.49. The company has a 50-day simple moving average of $65.33 and a 200-day simple moving average of $70.07. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.42 and a current ratio of 0.42.

Charles Schwab (NYSE:SCHW) last posted its earnings results on Tuesday, July 16th. The financial services provider reported $0.73 EPS for the quarter, beating the consensus estimate of $0.72 by $0.01. The company had revenue of $4.69 billion during the quarter, compared to analyst estimates of $4.68 billion. Charles Schwab had a return on equity of 18.14% and a net margin of 26.30%. The business’s revenue was up .7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.75 earnings per share. On average, equities analysts forecast that Charles Schwab will post 3.05 earnings per share for the current year.

Charles Schwab Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Friday, August 9th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.61%. The ex-dividend date of this dividend was Friday, August 9th. Charles Schwab’s payout ratio is 41.84%.

Insiders Place Their Bets

In other news, Director Carolyn Schwab-Pomerantz sold 12,320 shares of the business’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $65.10, for a total transaction of $802,032.00. Following the sale, the director now directly owns 562,129 shares of the company’s stock, valued at $36,594,597.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Charles Schwab news, insider Jonathan S. Beatty sold 780 shares of Charles Schwab stock in a transaction that occurred on Thursday, July 11th. The shares were sold at an average price of $75.00, for a total transaction of $58,500.00. Following the transaction, the insider now directly owns 18,069 shares in the company, valued at approximately $1,355,175. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Carolyn Schwab-Pomerantz sold 12,320 shares of the stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $65.10, for a total value of $802,032.00. Following the completion of the sale, the director now owns 562,129 shares of the company’s stock, valued at approximately $36,594,597.90. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 99,636 shares of company stock worth $6,533,064. 6.60% of the stock is owned by insiders.

Institutional Investors Weigh In On Charles Schwab

A number of institutional investors have recently bought and sold shares of the business. Nelson Capital Management LLC lifted its position in shares of Charles Schwab by 0.4% in the 1st quarter. Nelson Capital Management LLC now owns 37,726 shares of the financial services provider’s stock worth $2,729,000 after acquiring an additional 141 shares during the period. Abbrea Capital LLC lifted its position in Charles Schwab by 2.5% in the first quarter. Abbrea Capital LLC now owns 5,777 shares of the financial services provider’s stock worth $418,000 after purchasing an additional 142 shares during the period. Ironwood Financial llc boosted its stake in Charles Schwab by 1.6% during the first quarter. Ironwood Financial llc now owns 10,186 shares of the financial services provider’s stock worth $737,000 after buying an additional 160 shares in the last quarter. Ascent Wealth Partners LLC increased its holdings in Charles Schwab by 0.7% in the 2nd quarter. Ascent Wealth Partners LLC now owns 23,361 shares of the financial services provider’s stock valued at $1,721,000 after buying an additional 164 shares during the period. Finally, Sculati Wealth Management LLC raised its stake in shares of Charles Schwab by 0.4% in the 4th quarter. Sculati Wealth Management LLC now owns 42,971 shares of the financial services provider’s stock valued at $2,956,000 after buying an additional 165 shares in the last quarter. 84.38% of the stock is currently 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.