Truist Financial Cuts Charles Schwab (NYSE:SCHW) Price Target to $85.00

Charles Schwab (NYSE:SCHW) had its target price lowered by Truist Financial from $91.00 to $85.00 in a research report sent to investors on Friday morning,Benzinga reports. The firm currently has a buy rating on the financial services provider’s stock.

SCHW has been the subject of a number of other reports. Keefe, Bruyette & Woods raised their price target on Charles Schwab from $81.00 to $93.00 and gave the stock an “outperform” rating in a research report on Friday, December 20th. Wells Fargo & Company upgraded shares of Charles Schwab from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $89.00 to $93.00 in a report on Wednesday, January 22nd. Redburn Partners cut their price target on shares of Charles Schwab from $70.00 to $68.00 and set a “sell” rating on the stock in a report on Friday, January 17th. UBS Group raised their price objective on shares of Charles Schwab from $90.00 to $95.00 and gave the stock a “buy” rating in a research note on Monday, January 27th. Finally, Citigroup raised Charles Schwab from a “neutral” rating to a “buy” rating and upped their target price for the company from $85.00 to $102.00 in a research note on Wednesday, April 2nd. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $86.94.

Charles Schwab Price Performance

SCHW stock opened at $69.07 on Friday. Charles Schwab has a 52 week low of $61.01 and a 52 week high of $84.50. The firm has a market capitalization of $125.26 billion, a P/E ratio of 23.10, a price-to-earnings-growth ratio of 0.99 and a beta of 0.91. The company has a fifty day simple moving average of $79.09 and a two-hundred day simple moving average of $75.90. 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 (NYSE:SCHW) last released its quarterly earnings results on Tuesday, January 21st. The financial services provider reported $1.01 EPS for the quarter, topping the consensus estimate of $0.90 by $0.11. Charles Schwab had a return on equity of 18.20% and a net margin of 30.31%. The company had revenue of $5.33 billion during the quarter, compared to analyst estimates of $5.19 billion. During the same quarter last year, the business posted $0.68 earnings per share. The firm’s revenue was up 19.5% on a year-over-year basis. Analysts anticipate that Charles Schwab will post 4.22 earnings per share for the current fiscal year.

Charles Schwab Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 14th were paid a dividend of $0.27 per share. The ex-dividend date of this dividend was Friday, February 14th. This is an increase from Charles Schwab’s previous quarterly dividend of $0.25. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.56%. Charles Schwab’s dividend payout ratio (DPR) is currently 36.12%.

Insider Buying and Selling

In other Charles Schwab news, Director Arun Sarin sold 8,548 shares of Charles Schwab stock in a transaction dated Thursday, January 23rd. The stock was sold at an average price of $81.82, for a total value of $699,397.36. Following the transaction, the director now owns 18,617 shares in the company, valued at $1,523,242.94. The trade was a 31.47 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Walter W. Bettinger sold 464,629 shares of the stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $81.91, for a total transaction of $38,057,761.39. Following the sale, the chairman now directly owns 827,377 shares of the company’s stock, valued at approximately $67,770,450.07. The trade was a 35.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 513,081 shares of company stock valued at $41,903,066 over the last 90 days. Corporate insiders own 6.60% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of SCHW. Webster Bank N. A. grew its holdings in Charles Schwab by 0.8% in the first quarter. Webster Bank N. A. now owns 35,868 shares of the financial services provider’s stock worth $2,808,000 after purchasing an additional 277 shares during the last quarter. Quent Capital LLC grew its stake in Charles Schwab by 11.8% during the 1st quarter. Quent Capital LLC now owns 3,199 shares of the financial services provider’s stock worth $250,000 after buying an additional 337 shares during the last quarter. Farmers Trust Co. acquired a new position in Charles Schwab during the 1st quarter valued at about $208,000. Moody National Bank Trust Division raised its stake in Charles Schwab by 2.4% in the first quarter. Moody National Bank Trust Division now owns 25,542 shares of the financial services provider’s stock valued at $1,999,000 after buying an additional 610 shares during the last quarter. Finally, Versant Capital Management Inc boosted its holdings in Charles Schwab by 171.1% in the first quarter. Versant Capital Management Inc now owns 4,154 shares of the financial services provider’s stock worth $325,000 after acquiring an additional 2,622 shares in the last quarter. Institutional investors own 84.38% of the company’s stock.

Charles Schwab Company Profile

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.