Charles Schwab (NYSE:SCHW) Raised to “Buy” at TD Cowen

Charles Schwab (NYSE:SCHW) was upgraded by stock analysts at TD Cowen from a “hold” rating to a “buy” rating in a report released on Tuesday, MarketBeat.com reports. The firm presently has a $103.00 target price on the financial services provider’s stock, up from their prior target price of $88.00. TD Cowen’s price objective points to a potential upside of 25.56% from the stock’s previous close.

Several other equities analysts have also issued reports on SCHW. Citigroup lifted their price target on Charles Schwab from $80.00 to $85.00 and gave the company a “neutral” rating in a research note on Wednesday, January 22nd. UBS Group increased their target price on shares of Charles Schwab from $90.00 to $95.00 and gave the stock a “buy” rating in a report on Monday, January 27th. Truist Financial lifted their price target on shares of Charles Schwab from $90.00 to $91.00 and gave the company a “buy” rating in a report on Tuesday, February 11th. Wells Fargo & Company raised shares of Charles Schwab from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $89.00 to $93.00 in a research note on Wednesday, January 22nd. Finally, Keefe, Bruyette & Woods boosted their target price on shares of Charles Schwab from $81.00 to $93.00 and gave the stock an “outperform” rating in a research note on Friday, December 20th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and ten have given a buy rating to the company. According to MarketBeat, Charles Schwab presently has a consensus rating of “Hold” and an average target price of $86.33.

Charles Schwab Stock Up 0.7 %

SCHW stock opened at $82.03 on Tuesday. Charles Schwab has a 52 week low of $61.01 and a 52 week high of $84.50. The business has a 50-day simple moving average of $77.98 and a 200 day simple moving average of $72.76. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 0.59. The company has a market cap of $146.11 billion, a PE ratio of 27.43, a price-to-earnings-growth ratio of 0.97 and a beta of 0.99.

Charles Schwab (NYSE:SCHW) last issued its earnings results on Tuesday, January 21st. The financial services provider reported $1.01 EPS for the quarter, beating the consensus estimate of $0.90 by $0.11. The company had revenue of $5.33 billion during the quarter, compared to analysts’ expectations of $5.19 billion. Charles Schwab had a net margin of 30.31% and a return on equity of 18.20%. The business’s revenue for the quarter was up 19.5% compared to the same quarter last year. During the same period in the previous year, the company earned $0.68 EPS. Sell-side analysts anticipate that Charles Schwab will post 4.22 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Chairman Walter W. Bettinger sold 464,629 shares of the business’s stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $81.91, for a total value of $38,057,761.39. Following the transaction, the chairman now directly owns 827,377 shares of the company’s stock, valued at $67,770,450.07. The trade was a 35.96 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Nigel J. Murtagh sold 12,739 shares of the firm’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $81.17, for a total value of $1,034,024.63. Following the sale, the insider now directly owns 59,092 shares of the company’s stock, valued at $4,796,497.64. This represents a 17.73 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 502,859 shares of company stock worth $41,161,496. 6.60% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Norges Bank bought a new position in shares of Charles Schwab during the 4th quarter worth about $1,289,544,000. Kovitz Investment Group Partners LLC boosted its holdings in Charles Schwab by 354.5% in the fourth quarter. Kovitz Investment Group Partners LLC now owns 11,005,881 shares of the financial services provider’s stock worth $814,545,000 after acquiring an additional 8,584,173 shares in the last quarter. FMR LLC grew its stake in Charles Schwab by 69.4% in the fourth quarter. FMR LLC now owns 9,700,013 shares of the financial services provider’s stock valued at $717,898,000 after acquiring an additional 3,974,940 shares during the period. Marshall Wace LLP increased its holdings in shares of Charles Schwab by 742.0% during the fourth quarter. Marshall Wace LLP now owns 4,181,202 shares of the financial services provider’s stock valued at $309,451,000 after acquiring an additional 3,684,640 shares in the last quarter. Finally, Primecap Management Co. CA raised its position in shares of Charles Schwab by 310.3% during the fourth quarter. Primecap Management Co. CA now owns 4,252,350 shares of the financial services provider’s stock worth $314,716,000 after purchasing an additional 3,216,000 shares during the period. 84.38% of the stock is owned by 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.