Piper Sandler Issues Positive Forecast for Charles Schwab (NYSE:SCHW) Stock Price

Charles Schwab (NYSE:SCHW) had its target price upped by research analysts at Piper Sandler from $65.00 to $70.00 in a report released on Tuesday,Benzinga reports. The firm presently has a “neutral” rating on the financial services provider’s stock. Piper Sandler’s price objective indicates a potential downside of 5.85% from the stock’s previous close.

SCHW has been the topic of several other research reports. Morgan Stanley lifted their target price on shares of Charles Schwab from $68.00 to $74.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 24th. Jefferies Financial Group boosted their price target on shares of Charles Schwab from $84.00 to $94.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Citigroup dropped their price objective on shares of Charles Schwab from $75.00 to $72.00 and set a “neutral” rating for the company in a research note on Friday, September 27th. Wells Fargo & Company raised their target price on shares of Charles Schwab from $75.00 to $90.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 12th. Finally, Bank of America dropped their price target on Charles Schwab from $63.00 to $61.00 and set an “underperform” rating for the company in a research report on Wednesday, October 16th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $80.81.

Charles Schwab Stock Down 0.1 %

SCHW opened at $74.35 on Tuesday. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 0.59. Charles Schwab has a twelve month low of $59.67 and a twelve month high of $83.35. The company has a market cap of $132.32 billion, a PE ratio of 29.04, a price-to-earnings-growth ratio of 1.76 and a beta of 0.99. The company has a 50-day moving average price of $77.45 and a 200 day moving average price of $70.62.

Charles Schwab (NYSE:SCHW) last announced its earnings results on Tuesday, October 15th. The financial services provider reported $0.77 EPS for the quarter, beating analysts’ consensus estimates of $0.75 by $0.02. The business had revenue of $4.85 billion during the quarter, compared to analysts’ expectations of $4.78 billion. Charles Schwab had a return on equity of 16.92% and a net margin of 27.47%. The business’s revenue was up 5.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.77 earnings per share. Sell-side analysts expect that Charles Schwab will post 3.12 earnings per share for the current fiscal year.

Insider Transactions at Charles Schwab

In other news, Chairman Charles R. Schwab sold 62,345 shares of the firm’s stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $72.52, for a total transaction of $4,521,259.40. Following the completion of the transaction, the chairman now directly owns 60,619,371 shares in the company, valued at $4,396,116,784.92. This trade represents a 0.10 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Carolyn Schwab-Pomerantz sold 29,800 shares of the business’s stock in a transaction on Thursday, October 17th. The shares were sold at an average price of $72.16, for a total value of $2,150,368.00. Following the completion of the sale, the director now owns 551,329 shares in the company, valued at $39,783,900.64. This represents a 5.13 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 118,968 shares of company stock worth $8,842,821. 6.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Charles Schwab

Several large investors have recently added to or reduced their stakes in the business. Canandaigua National Bank & Trust Co. grew its stake in shares of Charles Schwab by 6.7% in the fourth quarter. Canandaigua National Bank & Trust Co. now owns 33,176 shares of the financial services provider’s stock worth $2,455,000 after acquiring an additional 2,092 shares in the last quarter. Oliver Luxxe Assets LLC raised its stake in shares of Charles Schwab by 61.9% in the fourth quarter. Oliver Luxxe Assets LLC now owns 60,655 shares of the financial services provider’s stock valued at $4,489,000 after acquiring an additional 23,187 shares in the last quarter. Iowa State Bank boosted its holdings in Charles Schwab by 4.9% in the fourth quarter. Iowa State Bank now owns 29,860 shares of the financial services provider’s stock valued at $2,210,000 after purchasing an additional 1,384 shares during the period. Hiley Hunt Wealth Management acquired a new position in Charles Schwab during the 4th quarter worth $228,000. Finally, CWA Asset Management Group LLC increased its holdings in Charles Schwab by 1.0% during the 4th quarter. CWA Asset Management Group LLC now owns 28,943 shares of the financial services provider’s stock worth $2,142,000 after purchasing an additional 279 shares during the period. 84.38% of the stock is owned by hedge funds and other institutional investors.

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.