Charles Schwab (NYSE:SCHW) Price Target Raised to $91.00

Charles Schwab (NYSE:SCHW) had its price objective raised by research analysts at Truist Financial from $90.00 to $91.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the financial services provider’s stock. Truist Financial’s target price suggests a potential upside of 9.33% from the stock’s previous close.

A number of other brokerages have also recently issued reports on SCHW. Morgan Stanley increased their target price on shares of Charles Schwab from $84.00 to $91.00 and gave the company an “equal weight” rating in a report on Thursday, February 6th. Barclays lifted their price objective on Charles Schwab from $95.00 to $96.00 and gave the stock an “overweight” rating in a report on Wednesday, January 22nd. Keefe, Bruyette & Woods increased their target price on Charles Schwab from $81.00 to $93.00 and gave the company an “outperform” rating in a report on Friday, December 20th. Redburn Partners lowered their price objective on Charles Schwab from $70.00 to $68.00 and set a “sell” rating for the company in a research report on Friday, January 17th. Finally, Raymond James cut their target price on shares of Charles Schwab from $76.00 to $73.00 in a report on Tuesday, October 15th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $84.56.

Charles Schwab Stock Performance

SCHW stock traded up $2.07 during midday trading on Tuesday, reaching $83.24. 30,068,984 shares of the company’s stock traded hands, compared to its average volume of 9,455,335. Charles Schwab has a 52 week low of $61.01 and a 52 week high of $84.04. The company has a 50-day moving average price of $77.99 and a two-hundred day moving average price of $71.99. 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 $148.13 billion, a PE ratio of 27.82, a price-to-earnings-growth ratio of 1.02 and a beta of 0.99.

Charles Schwab (NYSE:SCHW) last announced its earnings results on Tuesday, January 21st. The financial services provider reported $1.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.90 by $0.11. Charles Schwab had a net margin of 30.31% and a return on equity of 18.20%. The company had revenue of $5.33 billion during the quarter, compared to analyst estimates of $5.19 billion. During the same period in the previous year, the business earned $0.68 earnings per share. The firm’s quarterly revenue was up 19.5% compared to the same quarter last year. As a group, equities analysts anticipate that Charles Schwab will post 4.18 EPS for the current year.

Insider Buying and Selling at Charles Schwab

In related news, General Counsel Peter J. Morgan III sold 14,643 shares of the business’s stock in a transaction that occurred on Wednesday, January 22nd. The stock was sold at an average price of $80.70, for a total transaction of $1,181,690.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Arun Sarin sold 8,548 shares of the company’s stock in a transaction on Thursday, January 23rd. The shares were sold at an average price of $81.82, for a total transaction of $699,397.36. Following the completion of the transaction, the director now owns 18,617 shares of the company’s stock, valued at approximately $1,523,242.94. The trade was a 31.47 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 47,514 shares of company stock worth $3,859,731 over the last three months. Insiders own 6.60% of the company’s stock.

Institutional Trading of Charles Schwab

Institutional investors and hedge funds have recently bought and sold shares of the business. Exchange Traded Concepts LLC increased its holdings in Charles Schwab by 78.9% in the third quarter. Exchange Traded Concepts LLC now owns 19,773 shares of the financial services provider’s stock valued at $1,281,000 after buying an additional 8,721 shares in the last quarter. CHICAGO TRUST Co NA increased its stake in Charles Schwab by 10.6% in the 3rd quarter. CHICAGO TRUST Co NA now owns 3,353 shares of the financial services provider’s stock valued at $217,000 after purchasing an additional 320 shares in the last quarter. Sound Income Strategies LLC boosted its position in Charles Schwab by 682.4% during the third quarter. Sound Income Strategies LLC now owns 1,064 shares of the financial services provider’s stock worth $69,000 after purchasing an additional 928 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. grew its holdings in Charles Schwab by 71.6% in the third quarter. Thurston Springer Miller Herd & Titak Inc. now owns 5,820 shares of the financial services provider’s stock valued at $377,000 after purchasing an additional 2,429 shares during the last quarter. Finally, Procyon Advisors LLC increased its position in shares of Charles Schwab by 5.4% in the third quarter. Procyon Advisors LLC now owns 3,437 shares of the financial services provider’s stock valued at $222,000 after buying an additional 176 shares in the last quarter. Hedge funds and other institutional investors own 84.38% of the company’s stock.

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.