Charles Schwab (NYSE:SCHW) PT Raised to $45.00

Charles Schwab (NYSE:SCHW) had its price objective increased by Morgan Stanley from $43.00 to $45.00 in a research report issued on Monday, BenzingaRatingsTable reports. The firm presently has an “overweight” rating on the financial services provider’s stock. Morgan Stanley’s price objective would indicate a potential upside of 9.97% from the company’s current price.

Several other equities research analysts have also recently issued reports on SCHW. Wells Fargo & Co reissued a “hold” rating on shares of Charles Schwab in a research report on Tuesday, October 15th. JPMorgan Chase & Co. decreased their target price on shares of Charles Schwab from $48.00 to $44.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 2nd. Credit Suisse Group decreased their target price on shares of Charles Schwab from $55.00 to $49.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 1st. Deutsche Bank raised their target price on shares of Charles Schwab from $34.00 to $35.00 and gave the stock a “hold” rating in a research report on Wednesday, October 16th. Finally, ValuEngine raised shares of Charles Schwab from a “sell” rating to a “hold” rating in a research report on Wednesday, September 4th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have assigned a buy rating to the company’s stock. Charles Schwab presently has an average rating of “Hold” and an average price target of $44.32.

Charles Schwab stock opened at $40.92 on Monday. Charles Schwab has a 12-month low of $34.58 and a 12-month high of $49.24. The stock has a market capitalization of $52.21 billion, a P/E ratio of 16.70, a P/E/G ratio of 2.54 and a beta of 1.32. The firm’s 50-day moving average is $39.84 and its two-hundred day moving average is $41.43. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.31 and a quick ratio of 0.31.

Charles Schwab (NYSE:SCHW) last released its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $0.70 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.65 by $0.05. Charles Schwab had a net margin of 35.12% and a return on equity of 20.85%. The company had revenue of $2.71 billion for the quarter, compared to analysts’ expectations of $2.65 billion. During the same period last year, the company earned $0.65 EPS. The firm’s revenue for the quarter was up 5.1% compared to the same quarter last year. As a group, analysts forecast that Charles Schwab will post 2.7 EPS for the current year.

In other Charles Schwab news, EVP Jonathan M. Craig sold 3,740 shares of Charles Schwab stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $38.97, for a total transaction of $145,747.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Mark A. Goldfarb purchased 2,595 shares of Charles Schwab stock in a transaction on Monday, August 5th. The shares were acquired at an average cost of $38.68 per share, for a total transaction of $100,374.60. Following the completion of the transaction, the director now owns 3,771 shares of the company’s stock, valued at $145,862.28. The disclosure for this purchase can be found here. Over the last ninety days, insiders have sold 219,677 shares of company stock worth $8,993,241. 10.90% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently made changes to their positions in SCHW. Canada Pension Plan Investment Board raised its stake in shares of Charles Schwab by 5.2% during the second quarter. Canada Pension Plan Investment Board now owns 1,195,391 shares of the financial services provider’s stock valued at $48,043,000 after purchasing an additional 59,260 shares during the period. Comerica Bank raised its stake in shares of Charles Schwab by 2.1% during the second quarter. Comerica Bank now owns 281,960 shares of the financial services provider’s stock valued at $11,619,000 after purchasing an additional 5,665 shares during the period. Chemical Bank raised its stake in shares of Charles Schwab by 2.3% during the second quarter. Chemical Bank now owns 54,203 shares of the financial services provider’s stock valued at $2,179,000 after purchasing an additional 1,236 shares during the period. Rathbone Brothers plc raised its stake in shares of Charles Schwab by 3.2% during the second quarter. Rathbone Brothers plc now owns 15,943 shares of the financial services provider’s stock valued at $641,000 after purchasing an additional 495 shares during the period. Finally, Atlanta Capital Management Co. L L C raised its stake in shares of Charles Schwab by 2.9% during the second quarter. Atlanta Capital Management Co. L L C now owns 936,913 shares of the financial services provider’s stock valued at $37,655,000 after purchasing an additional 26,327 shares during the period. 79.01% of the stock is currently owned by hedge funds and other institutional investors.

Charles Schwab Company Profile

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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