Charles Schwab (NYSE:SCHW) Price Target Lowered to $80.00 at Citigroup

Charles Schwab (NYSE:SCHW) had its target price cut by Citigroup from $85.00 to $80.00 in a research note released on Friday,Benzinga reports. They currently have a neutral rating on the financial services provider’s stock.

Other analysts have also issued research reports about the company. Raymond James lowered their target price on Charles Schwab from $76.00 to $73.00 in a report on Tuesday, October 15th. Barclays raised Charles Schwab from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $74.00 to $95.00 in a research report on Monday, December 9th. StockNews.com raised Charles Schwab from a “sell” rating to a “hold” rating in a research report on Wednesday, October 16th. JPMorgan Chase & Co. upped their price target on Charles Schwab from $87.00 to $93.00 and gave the stock an “overweight” rating in a research report on Tuesday. Finally, The Goldman Sachs Group upped their price target on Charles Schwab from $67.00 to $74.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 16th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $81.69.

Charles Schwab Stock Down 0.3 %

Shares of NYSE SCHW opened at $72.79 on Friday. The stock has a 50 day moving average price of $77.57 and a 200 day moving average price of $70.64. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.47 and a current ratio of 0.47. The firm has a market capitalization of $129.54 billion, a price-to-earnings ratio of 28.43, a PEG ratio of 1.76 and a beta of 0.99. Charles Schwab has a 52-week low of $59.67 and a 52-week high of $83.35.

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

Charles Schwab Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Friday, November 8th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.37%. The ex-dividend date was Friday, November 8th. Charles Schwab’s dividend payout ratio is currently 39.06%.

Insiders Place Their Bets

In other Charles Schwab news, Director Carolyn Schwab-Pomerantz sold 29,800 shares of the stock in a transaction dated Thursday, October 17th. The stock was sold at an average price of $72.16, for a total transaction of $2,150,368.00. Following the sale, the director now directly owns 551,329 shares of the company’s stock, valued at approximately $39,783,900.64. This trade represents a 5.13 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Charles R. Schwab sold 62,345 shares of the stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $72.52, for a total value of $4,521,259.40. Following the sale, the chairman now directly owns 60,619,371 shares in the company, valued at $4,396,116,784.92. This represents a 0.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 118,968 shares of company stock valued at $8,842,821. Company insiders own 6.60% of the company’s stock.

Institutional Investors Weigh In On Charles Schwab

Hedge funds have recently modified their holdings of the company. Washington Trust Advisors Inc. boosted its stake in shares of Charles Schwab by 62.6% during the 3rd quarter. Washington Trust Advisors Inc. now owns 387 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 149 shares in the last quarter. Capital Performance Advisors LLP purchased a new stake in shares of Charles Schwab during the 3rd quarter worth about $25,000. Prospera Private Wealth LLC purchased a new stake in shares of Charles Schwab during the 3rd quarter worth about $31,000. Future Financial Wealth Managment LLC purchased a new position in Charles Schwab in the 3rd quarter valued at about $32,000. Finally, Hazlett Burt & Watson Inc. purchased a new position in Charles Schwab in the 3rd quarter valued at about $33,000. 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.