Truist Financial Reiterates “Buy” Rating for Charles Schwab (NYSE:SCHW)

Charles Schwab (NYSE:SCHW)‘s stock had its “buy” rating restated by equities researchers at Truist Financial in a report issued on Wednesday,Benzinga reports. They presently have a $90.00 price target on the financial services provider’s stock, up from their previous price target of $86.00. Truist Financial’s price objective would indicate a potential upside of 9.81% from the stock’s previous close.

A number of other research analysts have also issued reports on SCHW. Morgan Stanley lifted their target price on Charles Schwab from $74.00 to $84.00 and gave the stock an “equal weight” rating in a report on Friday, January 17th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Charles Schwab from $98.00 to $105.00 and gave the stock a “buy” rating in a report on Wednesday. The Goldman Sachs Group raised their target price on shares of Charles Schwab from $67.00 to $74.00 and gave the stock a “neutral” rating in a report on Wednesday, October 16th. Barclays upped their price target on Charles Schwab from $95.00 to $96.00 and gave the company an “overweight” rating in a report on Wednesday. Finally, JPMorgan Chase & Co. raised their price objective on Charles Schwab from $87.00 to $93.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 7th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $83.83.

Charles Schwab Trading Up 1.7 %

NYSE:SCHW opened at $81.96 on Wednesday. Charles Schwab has a 1 year low of $61.01 and a 1 year high of $83.35. The business has a fifty day moving average of $77.75 and a 200-day moving average of $70.75. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.47 and a current ratio of 0.47. The stock has a market cap of $145.86 billion, a price-to-earnings ratio of 27.41, a PEG ratio of 1.48 and a beta of 0.99.

Charles Schwab (NYSE:SCHW) last posted its quarterly earnings data on Tuesday, January 21st. The financial services provider reported $1.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.90 by $0.11. The business had revenue of $5.33 billion during the quarter, compared to analysts’ expectations of $5,190,822.51 billion. Charles Schwab had a net margin of 30.31% and a return on equity of 18.20%. The business’s revenue was up 19.5% on a year-over-year basis. During the same period last year, the firm posted $0.68 earnings per share. Equities analysts predict that Charles Schwab will post 4.04 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Nigel J. Murtagh sold 12,739 shares of the firm’s stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $81.17, for a total transaction of $1,034,024.63. Following the completion of the sale, the insider now directly owns 59,092 shares of the company’s stock, valued at $4,796,497.64. This trade represents a 17.73 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jonathan S. Beatty sold 2,300 shares of Charles Schwab stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $82.01, for a total value of $188,623.00. Following the sale, 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 disclosure for this sale can be found here. Insiders sold a total of 26,823 shares of company stock worth $2,171,194 in the last quarter. 6.60% of the stock is currently owned by corporate insiders.

Institutional Trading of Charles Schwab

A number of institutional investors have recently added to or reduced their stakes in SCHW. Washington Trust Advisors Inc. raised its holdings in shares of Charles Schwab by 62.6% during the 3rd quarter. Washington Trust Advisors Inc. now owns 387 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 149 shares in the last quarter. Capital Performance Advisors LLP bought a new position in Charles Schwab during the third quarter valued at about $25,000. Prospera Private Wealth LLC acquired a new stake in shares of Charles Schwab in the third quarter worth about $31,000. Future Financial Wealth Managment LLC bought a new stake in shares of Charles Schwab during the 3rd quarter worth about $32,000. Finally, Hazlett Burt & Watson Inc. acquired a new position in shares of Charles Schwab during the 3rd quarter valued at about $33,000. 84.38% of the stock is currently owned by institutional investors and hedge funds.

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.