Truist Financial Forecasts Strong Price Appreciation for Charles Schwab (NYSE:SCHW) Stock

Charles Schwab (NYSE:SCHW) had its target price lifted by investment analysts at Truist Financial from $84.00 to $97.00 in a report released on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the financial services provider’s stock. Truist Financial’s price target suggests a potential upside of 9.34% from the stock’s previous close.

SCHW has been the subject of a number of other reports. Barclays lowered their price objective on shares of Charles Schwab from $96.00 to $84.00 and set an “overweight” rating for the company in a research report on Monday, April 7th. Redburn Partners dropped their target price 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. Wells Fargo & Company reduced their price target on Charles Schwab from $93.00 to $87.00 and set an “overweight” rating on the stock in a report on Tuesday, April 8th. TD Cowen raised shares of Charles Schwab from a “hold” rating to a “buy” rating and raised their price target for the company from $88.00 to $103.00 in a research note on Tuesday, February 18th. Finally, Piper Sandler increased their price target on Charles Schwab from $74.00 to $80.00 in a research note on Thursday, April 17th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Charles Schwab currently has a consensus rating of “Moderate Buy” and a consensus price target of $88.33.

Charles Schwab Price Performance

SCHW stock opened at $88.72 on Thursday. The company’s 50-day moving average price is $78.76 and its two-hundred day moving average price is $78.36. The firm has a market cap of $160.89 billion, a P/E ratio of 29.67, a P/E/G ratio of 0.99 and a beta of 0.90. 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 has a 12 month low of $61.01 and a 12 month high of $88.87.

Charles Schwab (NYSE:SCHW) last posted its quarterly earnings results on Thursday, April 17th. The financial services provider reported $1.04 EPS for the quarter, topping analysts’ consensus estimates of $1.01 by $0.03. Charles Schwab had a return on equity of 18.20% and a net margin of 30.31%. The company had revenue of $5.60 billion during the quarter, compared to analysts’ expectations of $5.46 billion. During the same quarter in the previous year, the firm earned $0.74 EPS. On average, analysts anticipate that Charles Schwab will post 4.22 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Frank C. Herringer sold 3,592 shares of the company’s stock in a transaction that occurred on Monday, April 21st. The stock was sold at an average price of $74.26, for a total value of $266,741.92. Following the transaction, the director now owns 172,162 shares in the company, valued at approximately $12,784,750.12. This represents a 2.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jonathan M. Craig sold 9,559 shares of the firm’s stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $82.00, for a total value of $783,838.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 38,412 shares of company stock worth $3,014,797. 6.30% of the stock is owned by insiders.

Hedge Funds Weigh In On Charles Schwab

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Atwood & Palmer Inc. bought a new stake in shares of Charles Schwab during the 1st quarter valued at $25,000. Westside Investment Management Inc. lifted its stake in Charles Schwab by 75.0% in the 1st quarter. Westside Investment Management Inc. now owns 350 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 150 shares in the last quarter. Stone House Investment Management LLC bought a new position in shares of Charles Schwab in the first quarter worth $31,000. Activest Wealth Management raised its position in shares of Charles Schwab by 6,650.0% in the first quarter. Activest Wealth Management now owns 405 shares of the financial services provider’s stock worth $32,000 after buying an additional 399 shares in the last quarter. Finally, WFA Asset Management Corp bought a new stake in Charles Schwab during the first quarter valued at $33,000. 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.