Brokerages Set The Charles Schwab Corporation (NYSE:SCHW) Target Price at $89.40

The Charles Schwab Corporation (NYSE:SCHW) has received a consensus recommendation of “Moderate Buy” from the nineteen research firms that are covering the company, MarketBeat Ratings reports. Two analysts have rated the stock with a sell recommendation, two have given a hold recommendation and fifteen have issued a buy recommendation on the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $89.40.

A number of research analysts have issued reports on SCHW shares. Keefe, Bruyette & Woods boosted their target price on shares of Charles Schwab from $90.00 to $93.00 and gave the company an “outperform” rating in a research note on Tuesday, April 22nd. JPMorgan Chase & Co. boosted their price objective on Charles Schwab from $92.00 to $95.00 and gave the stock an “overweight” rating in a research report on Monday, April 21st. Wells Fargo & Company reduced their price target on Charles Schwab from $93.00 to $87.00 and set an “overweight” rating for the company in a research report on Tuesday, April 8th. Citigroup upgraded Charles Schwab from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $85.00 to $102.00 in a research report on Wednesday, April 2nd. Finally, Piper Sandler boosted their price target on Charles Schwab from $74.00 to $80.00 in a research report on Thursday, April 17th.

Charles Schwab Trading Down 0.1%

NYSE:SCHW opened at $91.18 on Friday. Charles Schwab has a 12-month low of $61.01 and a 12-month high of $91.68. The firm has a market capitalization of $165.67 billion, a P/E ratio of 27.63, a P/E/G ratio of 0.98 and a beta of 0.93. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.53 and a quick ratio of 0.53. The business has a 50 day simple moving average of $86.71 and a 200 day simple moving average of $80.51.

Charles Schwab (NYSE:SCHW) last announced its quarterly earnings results on Thursday, April 17th. The financial services provider reported $1.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.01 by $0.03. Charles Schwab had a net margin of 31.71% and a return on equity of 18.31%. The company had revenue of $5.60 billion during the quarter, compared to the consensus estimate of $5.46 billion. During the same quarter in the previous year, the company posted $0.74 earnings per share. Equities research analysts predict that Charles Schwab will post 4.22 EPS for the current year.

Charles Schwab Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, May 23rd. Shareholders of record on Friday, May 9th were issued a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 1.18%. The ex-dividend date was Friday, May 9th. Charles Schwab’s payout ratio is 32.73%.

Insider Buying and Selling

In other news, insider Nigel J. Murtagh sold 20,872 shares of the stock in a transaction on Wednesday, June 18th. The stock was sold at an average price of $90.01, for a total transaction of $1,878,688.72. Following the completion of the sale, the insider owned 58,999 shares in the company, valued at approximately $5,310,499.99. This represents a 26.13% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Paul V. Woolway sold 10,129 shares of the company’s stock in a transaction on Wednesday, June 18th. The shares were sold at an average price of $90.01, for a total value of $911,711.29. Following the sale, the insider directly owned 39,154 shares of the company’s stock, valued at approximately $3,524,251.54. This represents a 20.55% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 116,615 shares of company stock worth $10,231,607 in the last ninety days. Insiders own 6.30% of the company’s stock.

Institutional Trading of Charles Schwab

A number of hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in shares of Charles Schwab by 15.4% in the first quarter. Vanguard Group Inc. now owns 148,395,252 shares of the financial services provider’s stock valued at $11,616,380,000 after purchasing an additional 19,817,022 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in Charles Schwab by 12.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 82,048,984 shares of the financial services provider’s stock worth $6,422,795,000 after acquiring an additional 8,954,248 shares in the last quarter. Geode Capital Management LLC lifted its stake in Charles Schwab by 2.5% in the 4th quarter. Geode Capital Management LLC now owns 30,901,484 shares of the financial services provider’s stock worth $2,279,742,000 after acquiring an additional 760,043 shares in the last quarter. Fisher Asset Management LLC lifted its stake in Charles Schwab by 1.3% in the 4th quarter. Fisher Asset Management LLC now owns 20,455,266 shares of the financial services provider’s stock worth $1,513,894,000 after acquiring an additional 265,708 shares in the last quarter. Finally, Northern Trust Corp lifted its stake in Charles Schwab by 10.8% in the 1st quarter. Northern Trust Corp now owns 17,440,301 shares of the financial services provider’s stock worth $1,365,227,000 after acquiring an additional 1,700,384 shares in the last quarter. 84.38% of the stock is owned by hedge funds and other institutional investors.

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.