JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Charles Schwab (NYSE:SCHW) Stock

Charles Schwab (NYSE:SCHW) had its price target hoisted by JPMorgan Chase & Co. from $92.00 to $95.00 in a research report sent to investors on Monday,Benzinga reports. The brokerage currently has an overweight rating on the financial services provider’s stock.

Several other brokerages have also issued reports on SCHW. Deutsche Bank Aktiengesellschaft raised their price target on shares of Charles Schwab from $98.00 to $105.00 and gave the stock a “buy” rating in a research note on Wednesday, January 22nd. Wells Fargo & Company lowered their target price on Charles Schwab from $93.00 to $87.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 8th. Piper Sandler increased their price target on Charles Schwab from $74.00 to $80.00 in a research note on Thursday, April 17th. Keefe, Bruyette & Woods lowered their price objective on Charles Schwab from $93.00 to $90.00 and set an “outperform” rating on the stock in a research note on Thursday, April 10th. Finally, UBS Group increased their target price on shares of Charles Schwab from $90.00 to $95.00 and gave the stock a “buy” rating in a research report on Monday, January 27th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $85.56.

Charles Schwab Stock Performance

Shares of Charles Schwab stock opened at $75.13 on Monday. The firm has a market capitalization of $136.25 billion, a P/E ratio of 25.13, a price-to-earnings-growth ratio of 0.99 and a beta of 0.91. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 0.59. The business’s fifty day simple moving average is $77.02 and its 200 day simple moving average is $76.74. Charles Schwab has a 12 month low of $61.01 and a 12 month high of $84.50.

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

Charles Schwab Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 14th were given a dividend of $0.27 per share. This is a positive change from Charles Schwab’s previous quarterly dividend of $0.25. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.44%. The ex-dividend date was Friday, February 14th. Charles Schwab’s payout ratio is 36.12%.

Insider Transactions at Charles Schwab

In related news, Director Arun Sarin sold 8,548 shares of the company’s stock in a transaction that occurred on Thursday, January 23rd. The shares were sold at an average price of $81.82, for a total value of $699,397.36. Following the transaction, the director now directly owns 18,617 shares in the company, valued at approximately $1,523,242.94. This represents a 31.47 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Paul V. Woolway sold 3,380 shares of Charles Schwab stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $77.43, for a total transaction of $261,713.40. Following the sale, the insider now owns 45,824 shares of the company’s stock, valued at approximately $3,548,152.32. The trade was a 6.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 513,081 shares of company stock valued at $41,903,066. 6.30% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Charles Schwab

Institutional investors have recently made changes to their positions in the stock. Merit Financial Group LLC grew its position in Charles Schwab by 230.1% in the fourth quarter. Merit Financial Group LLC now owns 33,546 shares of the financial services provider’s stock worth $2,483,000 after acquiring an additional 23,383 shares in the last quarter. Synovus Financial Corp boosted its holdings in shares of Charles Schwab by 46.0% in the 3rd 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 in the last quarter. Oregon Pacific Wealth Management LLC bought a new position in shares of Charles Schwab during the 4th quarter valued at about $688,000. Golden State Equity Partners lifted its position in Charles Schwab by 293.9% in the 4th quarter. Golden State Equity Partners now owns 12,207 shares of the financial services provider’s stock worth $903,000 after buying an additional 9,108 shares during the last quarter. Finally, Asset Management One Co. Ltd. boosted its stake in Charles Schwab by 7.3% in the fourth quarter. Asset Management One Co. Ltd. now owns 637,957 shares of the financial services provider’s stock worth $47,674,000 after buying an additional 43,308 shares in the last quarter. 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.