Charles Schwab (NYSE:SCHW) PT Lowered to $39.50 at Citigroup

Charles Schwab (NYSE:SCHW) had its price objective dropped by Citigroup from $43.50 to $39.50 in a research report issued to clients and investors on Tuesday, BenzingaRatingsTable reports. The brokerage currently has a “neutral” rating on the financial services provider’s stock. Citigroup‘s target price suggests a potential downside of 2.37% from the company’s previous close.

SCHW has been the subject of several other research reports. JPMorgan Chase & Co. set a $44.00 price objective on Charles Schwab and gave the stock a “buy” rating in a report on Friday, June 21st. Compass Point set a $52.00 price objective on E*TRADE Financial and gave the stock a “buy” rating in a report on Tuesday, July 2nd. ValuEngine lowered Virtu Financial from a “hold” rating to a “sell” rating in a report on Tuesday, June 18th. Wells Fargo & Co reissued a “hold” rating on shares of AON in a report on Friday, April 5th. Finally, Deutsche Bank reissued a “buy” rating and issued a GBX 4,000 ($52.27) price objective on shares of in a report on Tuesday, June 18th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and nine have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $49.39.

Shares of NYSE SCHW traded up $0.80 during mid-day trading on Tuesday, reaching $40.46. 6,561,708 shares of the company’s stock were exchanged, compared to its average volume of 7,175,309. The firm has a market cap of $54.55 billion, a price-to-earnings ratio of 16.51, a price-to-earnings-growth ratio of 1.89 and a beta of 1.24. Charles Schwab has a 52 week low of $37.83 and a 52 week high of $54.26. The company has a quick ratio of 0.33, a current ratio of 0.33 and a debt-to-equity ratio of 0.36. The stock has a 50-day moving average price of $41.54.

Charles Schwab (NYSE:SCHW) last released its earnings results on Monday, April 15th. The financial services provider reported $0.69 EPS for the quarter, topping the Zacks’ consensus estimate of $0.66 by $0.03. The company had revenue of $2.72 billion for the quarter, compared to analysts’ expectations of $2.67 billion. Charles Schwab had a return on equity of 20.47% and a net margin of 35.27%. The business’s revenue for the quarter was up 13.6% compared to the same quarter last year. During the same period in the previous year, the business posted $0.55 EPS. On average, analysts expect that Charles Schwab will post 2.74 earnings per share for the current fiscal year.

In other news, EVP Nigel J. Murtagh sold 23,200 shares of the business’s stock in a transaction dated Wednesday, April 17th. The stock was sold at an average price of $45.70, for a total transaction of $1,060,240.00. Following the completion of the transaction, the executive vice president now owns 39,875 shares of the company’s stock, valued at $1,822,287.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Jonathan M. Craig sold 3,740 shares of the business’s stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $46.52, for a total value of $173,984.80. Following the transaction, the executive vice president now directly owns 66,190 shares of the company’s stock, valued at approximately $3,079,158.80. The disclosure for this sale can be found here. Insiders have sold a total of 841,576 shares of company stock valued at $38,416,671 in the last ninety days. Insiders own 10.90% of the company’s stock.

Large investors have recently added to or reduced their stakes in the stock. Quantamental Technologies LLC bought a new stake in Charles Schwab in the first quarter valued at approximately $32,000. Berman Capital Advisors LLC raised its holdings in shares of Charles Schwab by 260.7% during the first quarter. Berman Capital Advisors LLC now owns 1,046 shares of the financial services provider’s stock valued at $44,000 after acquiring an additional 756 shares in the last quarter. Clearbridge LLC raised its holdings in shares of Charles Schwab by 75.1% during the fourth quarter. Clearbridge LLC now owns 1,096 shares of the financial services provider’s stock valued at $46,000 after acquiring an additional 470 shares in the last quarter. Spectrum Management Group Inc. raised its holdings in shares of Charles Schwab by 44.5% during the first quarter. Spectrum Management Group Inc. now owns 1,071 shares of the financial services provider’s stock valued at $46,000 after acquiring an additional 330 shares in the last quarter. Finally, Semmax Financial Advisors Inc. bought a new position in shares of Charles Schwab during the fourth quarter valued at approximately $47,000. Institutional investors own 78.92% of the company’s stock.

About Charles Schwab

The Charles Schwab Corporation, through its subsidiaries, provides wealth management, securities brokerage, banking, asset management, custody, and financial advisory services. The company operates through two segments, Investor Services and Advisor Services. The Investor Services segment provides retail brokerage and banking services, retirement plan services, and other corporate brokerage services; equity compensation plan sponsors full-service recordkeeping for stock plans, stock options, restricted stock, performance shares, and stock appreciation rights; and retail investor, retirement plan, and mutual fund clearing services.

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