Charles Schwab (NYSE:SCHW) Sets New 1-Year High on Analyst Upgrade

The Charles Schwab Co. (NYSE:SCHW) shares hit a new 52-week high during trading on Wednesday after Truist Financial raised their price target on the stock from $90.00 to $91.00. Truist Financial currently has a buy rating on the stock. Charles Schwab traded as high as $84.50 and last traded at $83.51, with a volume of 59325916 shares traded. The stock had previously closed at $81.17.

Other research analysts also recently issued research reports about the stock. Keefe, Bruyette & Woods upped their price target on shares of Charles Schwab from $81.00 to $93.00 and gave the stock an “outperform” rating in a research report on Friday, December 20th. Cowen upped their target price on shares of Charles Schwab from $69.00 to $75.00 and gave the stock a “hold” rating in a research report on Tuesday, October 15th. Bank of America lowered their price target on shares of Charles Schwab from $63.00 to $61.00 and set an “underperform” rating for the company in a report on Wednesday, October 16th. JPMorgan Chase & Co. upped their price objective on Charles Schwab from $87.00 to $93.00 and gave the stock an “overweight” rating in a report on Tuesday, January 7th. Finally, The Goldman Sachs Group lifted their target price on Charles Schwab from $67.00 to $74.00 and gave the company a “neutral” rating in a research note on Wednesday, October 16th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $84.56.

Insider Activity at Charles Schwab

In related news, Director Christopher V. Dodds sold 9,284 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $81.43, for a total value of $755,996.12. Following the completion of the transaction, the director now directly owns 442,807 shares in the company, valued at approximately $36,057,774.01. The trade was a 2.05 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Arun Sarin sold 8,548 shares of the stock in a transaction that occurred on Thursday, January 23rd. The stock was sold at an average price of $81.82, for a total value of $699,397.36. Following the sale, the director now directly owns 18,617 shares of the company’s stock, valued at approximately $1,523,242.94. The trade was a 31.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 47,514 shares of company stock worth $3,859,731. 6.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Charles Schwab

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Gladstone Institutional Advisory LLC boosted its position in shares of Charles Schwab by 2.0% during the fourth quarter. Gladstone Institutional Advisory LLC now owns 6,247 shares of the financial services provider’s stock worth $462,000 after buying an additional 124 shares during the period. N.E.W. Advisory Services LLC lifted its stake in Charles Schwab by 1.7% in the 4th quarter. N.E.W. Advisory Services LLC now owns 7,522 shares of the financial services provider’s stock valued at $557,000 after acquiring an additional 125 shares in the last quarter. Klingman & Associates LLC boosted its position in Charles Schwab by 3.2% during the 4th quarter. Klingman & Associates LLC now owns 4,083 shares of the financial services provider’s stock worth $302,000 after acquiring an additional 125 shares during the last quarter. Investors Asset Management of Georgia Inc. GA ADV grew its stake in shares of Charles Schwab by 2.7% during the 4th quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 4,763 shares of the financial services provider’s stock worth $353,000 after acquiring an additional 127 shares in the last quarter. Finally, Personal CFO Solutions LLC raised its holdings in shares of Charles Schwab by 1.2% in the fourth quarter. Personal CFO Solutions LLC now owns 11,236 shares of the financial services provider’s stock valued at $832,000 after purchasing an additional 130 shares during the last quarter. 84.38% of the stock is owned by institutional investors and hedge funds.

Charles Schwab Stock Performance

The stock’s 50-day moving average price is $78.04 and its 200 day moving average price is $72.11. The firm has a market cap of $146.59 billion, a P/E ratio of 27.55, a price-to-earnings-growth ratio of 1.02 and a beta of 0.99. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.47 and a quick ratio of 0.47.

Charles Schwab (NYSE:SCHW) last issued 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. The firm had revenue of $5.33 billion for the quarter, compared to analysts’ expectations of $5.19 billion. Charles Schwab had a net margin of 30.31% and a return on equity of 18.20%. The company’s revenue for the quarter was up 19.5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.68 EPS. As a group, equities analysts predict that The Charles Schwab Co. will post 4.18 EPS for the current year.

Charles Schwab Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Friday, February 14th will be given a dividend of $0.27 per share. The ex-dividend date of this dividend is Friday, February 14th. This is a boost from Charles Schwab’s previous quarterly dividend of $0.25. This represents a $1.08 annualized dividend and a yield of 1.31%. Charles Schwab’s dividend payout ratio is 33.44%.

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.