Charles Schwab (NYSE:SCHW) Price Target Raised to $131.00

Charles Schwab (NYSE:SCHW) had its target price hoisted by equities researchers at Morgan Stanley from $117.00 to $131.00 in a research note issued on Tuesday,Benzinga reports. The brokerage presently has an “overweight” rating on the financial services provider’s stock. Morgan Stanley’s target price would indicate a potential upside of 32.90% from the stock’s current price.

Several other analysts have also commented on SCHW. Raymond James Financial reaffirmed an “outperform” rating and issued a $99.00 price target on shares of Charles Schwab in a research note on Friday, July 18th. UBS Group boosted their price target on Charles Schwab from $95.00 to $96.00 and gave the company a “buy” rating in a research note on Tuesday, April 22nd. Keefe, Bruyette & Woods boosted their price target on Charles Schwab from $102.00 to $108.00 and gave the company an “outperform” rating in a research note on Monday, July 21st. Cowen reaffirmed a “buy” rating on shares of Charles Schwab in a report on Tuesday, May 20th. Finally, William Blair lowered shares of Charles Schwab from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 3rd. Two analysts have rated the stock with a sell rating, four have issued a hold rating and sixteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $99.35.

Charles Schwab Price Performance

Shares of NYSE:SCHW opened at $98.57 on Tuesday. Charles Schwab has a 1-year low of $61.15 and a 1-year high of $99.59. The firm has a market capitalization of $179.10 billion, a PE ratio of 26.50, a PEG ratio of 0.94 and a beta of 0.93. The business’s 50 day moving average is $90.91 and its 200-day moving average is $83.33. The company has a current ratio of 0.53, a quick ratio of 0.53 and a debt-to-equity ratio of 0.53.

Charles Schwab (NYSE:SCHW) last announced its quarterly earnings data on Friday, July 18th. The financial services provider reported $1.14 earnings per share for the quarter, topping the consensus estimate of $1.10 by $0.04. Charles Schwab had a return on equity of 19.73% and a net margin of 33.68%. The company had revenue of $5.85 billion for the quarter, compared to analyst estimates of $5.64 billion. During the same quarter last year, the firm earned $0.73 EPS. Charles Schwab’s revenue for the quarter was up 24.8% compared to the same quarter last year. Sell-side analysts predict that Charles Schwab will post 4.22 earnings per share for the current year.

Charles Schwab announced that its Board of Directors has initiated a stock repurchase program on Thursday, July 24th that allows the company to repurchase $20.00 billion in shares. This repurchase authorization allows the financial services provider to purchase up to 11.6% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling

In other Charles Schwab news, insider Paul V. Woolway sold 3,290 shares of the stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $90.95, for a total value of $299,225.50. Following the completion of the sale, the insider directly owned 35,864 shares in the company, valued at $3,261,830.80. This represents a 8.40% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jonathan S. Beatty sold 2,850 shares of the stock in a transaction dated Friday, May 30th. The stock was sold at an average price of $87.57, for a total value of $249,574.50. Following the completion of the sale, the insider owned 15,219 shares of the company’s stock, valued at $1,332,727.83. This trade represents a 15.77% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 106,754 shares of company stock valued at $9,480,253. 6.30% of the stock is owned by company insiders.

Institutional Investors Weigh In On Charles Schwab

Several institutional investors have recently added to or reduced their stakes in SCHW. Princeton Global Asset Management LLC bought a new position in shares of Charles Schwab during the second quarter worth about $25,000. RMG Wealth Management LLC bought a new position in shares of Charles Schwab during the second quarter worth about $27,000. Atwood & Palmer Inc. bought a new position in shares of Charles Schwab during the first quarter worth about $25,000. Mid American Wealth Advisory Group Inc. bought a new position in shares of Charles Schwab during the second quarter worth about $32,000. Finally, Westside Investment Management Inc. grew its holdings in shares of Charles Schwab by 75.0% during the first quarter. Westside Investment Management Inc. now owns 350 shares of the financial services provider’s stock worth $27,000 after buying an additional 150 shares in the last quarter. 84.38% of the stock is owned by institutional investors.

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.