Charles Schwab (NYSE:SCHW) Given New $85.00 Price Target at Citigroup

Charles Schwab (NYSE:SCHW) had its target price increased by Citigroup from $80.00 to $85.00 in a report released on Wednesday morning,Benzinga reports. Citigroup currently has a neutral rating on the financial services provider’s stock.

A number of other research firms have also weighed in on SCHW. StockNews.com upgraded Charles Schwab from a “sell” rating to a “hold” rating in a report on Wednesday, October 16th. JPMorgan Chase & Co. lifted their target price on shares of Charles Schwab from $87.00 to $93.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 7th. Raymond James cut their price target on shares of Charles Schwab from $76.00 to $73.00 in a report on Tuesday, October 15th. Morgan Stanley lifted their price objective on shares of Charles Schwab from $74.00 to $84.00 and gave the stock an “equal weight” rating in a research report on Friday, January 17th. Finally, Barclays upgraded shares of Charles Schwab from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $74.00 to $95.00 in a research note on Monday, December 9th. Two investment 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. Based on data from MarketBeat, Charles Schwab has an average rating of “Hold” and an average target price of $83.83.

Charles Schwab Price Performance

Shares of SCHW opened at $80.44 on Wednesday. The business’s fifty day moving average is $77.71 and its 200 day moving average is $70.68. Charles Schwab has a 12-month low of $61.01 and a 12-month high of $83.35. 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 stock has a market cap of $143.15 billion, a P/E ratio of 31.42, a P/E/G ratio of 1.40 and a beta of 0.99.

Charles Schwab (NYSE:SCHW) last issued its quarterly earnings data on Tuesday, January 21st. The financial services provider reported $1.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.90 by $0.11. Charles Schwab had a net margin of 27.47% and a return on equity of 16.92%. The firm had revenue of $5.33 billion during the quarter, compared to analysts’ expectations of $5,190,822.51 billion. During the same period last year, the company earned $0.68 earnings per share. The business’s revenue was up 19.5% on a year-over-year basis. Sell-side analysts anticipate that Charles Schwab will post 3.16 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Jonathan S. Beatty sold 2,300 shares of the company’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $82.01, for a total value of $188,623.00. Following the transaction, the insider now owns 18,069 shares of the company’s stock, valued at approximately $1,481,838.69. This represents a 11.29 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Nigel J. Murtagh sold 12,739 shares of Charles Schwab stock in a transaction on Friday, November 22nd. The shares were 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 have sold 26,823 shares of company stock valued at $2,171,194. Company insiders own 6.60% of the company’s stock.

Institutional Investors Weigh In On Charles Schwab

Several hedge funds have recently bought and sold shares of SCHW. Merit Financial Group LLC raised its position in shares of Charles Schwab by 230.1% during the 4th quarter. Merit Financial Group LLC now owns 33,546 shares of the financial services provider’s stock valued at $2,483,000 after buying an additional 23,383 shares in the last quarter. Benjamin Edwards Inc. raised its position in Charles Schwab by 2,840.7% during the third quarter. Benjamin Edwards Inc. now owns 6,146 shares of the financial services provider’s stock valued at $398,000 after purchasing an additional 5,937 shares in the last quarter. Synovus Financial Corp lifted its stake in Charles Schwab by 46.0% during the third quarter. Synovus Financial Corp now owns 67,889 shares of the financial services provider’s stock worth $4,400,000 after purchasing an additional 21,377 shares during the last quarter. Patten & Patten Inc. TN boosted its holdings in shares of Charles Schwab by 155.9% in the 3rd quarter. Patten & Patten Inc. TN now owns 104,168 shares of the financial services provider’s stock worth $6,751,000 after purchasing an additional 63,463 shares in the last quarter. Finally, Equity Investment Corp increased its position in shares of Charles Schwab by 9.4% during the 3rd quarter. Equity Investment Corp now owns 1,640,157 shares of the financial services provider’s stock valued at $106,299,000 after purchasing an additional 140,643 shares during the last quarter. 84.38% of the stock is currently 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.