Charles Schwab (NYSE:SCHW) PT Raised to $60.00 at Morgan Stanley

Charles Schwab (NYSE:SCHW) had its price objective increased by equities researchers at Morgan Stanley from $49.00 to $60.00 in a report released on Thursday, BenzingaRatingsTable reports. The brokerage presently has a “buy” rating on the financial services provider’s stock. Morgan Stanley’s price target indicates a potential upside of 22.57% from the company’s previous close.

A number of other research analysts also recently issued reports on SCHW. ValuEngine raised shares of Charles Schwab from a “sell” rating to a “hold” rating in a research report on Wednesday, September 4th. UBS Group raised shares of Charles Schwab from a “sell” rating to a “neutral” rating and raised their target price for the stock from $35.00 to $50.00 in a research report on Monday, December 2nd. Barclays raised shares of Charles Schwab from an “underweight” rating to an “equal weight” rating and lifted their target price for the company from $35.00 to $49.00 in a research note on Wednesday, November 27th. JPMorgan Chase & Co. decreased their target price on Charles Schwab from $48.00 to $44.00 and set an “overweight” rating for the company in a research report on Wednesday, October 2nd. Finally, Sandler O’Neill set a $45.00 target price on Charles Schwab and gave the company a “buy” rating in a research note on Tuesday, October 15th. Ten analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $46.47.

SCHW opened at $48.95 on Thursday. Charles Schwab has a one year low of $34.58 and a one year high of $50.97. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.30 and a quick ratio of 0.30. The business has a 50 day simple moving average of $44.38 and a two-hundred day simple moving average of $41.39. The firm has a market capitalization of $62.77 billion, a price-to-earnings ratio of 19.98, a PEG ratio of 3.11 and a beta of 1.40.

Charles Schwab (NYSE:SCHW) last issued its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $0.70 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.65 by $0.05. Charles Schwab had a return on equity of 20.81% and a net margin of 35.12%. The firm had revenue of $2.71 billion for the quarter, compared to analyst estimates of $2.65 billion. During the same period last year, the company earned $0.65 EPS. The business’s quarterly revenue was up 5.1% compared to the same quarter last year. As a group, sell-side analysts expect that Charles Schwab will post 2.73 EPS for the current fiscal year.

In other news, EVP Jonathan M. Craig sold 3,740 shares of the company’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $38.97, for a total transaction of $145,747.80. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Arun Sarin sold 15,000 shares of the company’s stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $49.11, for a total value of $736,650.00. Following the transaction, the director now directly owns 3,771 shares in the company, valued at $185,193.81. The disclosure for this sale can be found here. In the last quarter, insiders sold 427,286 shares of company stock worth $20,169,847. Insiders own 10.90% of the company’s stock.

Several institutional investors have recently modified their holdings of the company. Vanguard Group Inc. grew its position in shares of Charles Schwab by 0.9% during the second quarter. Vanguard Group Inc. now owns 91,211,828 shares of the financial services provider’s stock worth $3,665,804,000 after purchasing an additional 794,114 shares in the last quarter. BlackRock Inc. boosted its stake in Charles Schwab by 3.7% in the 2nd quarter. BlackRock Inc. now owns 87,080,690 shares of the financial services provider’s stock worth $3,499,773,000 after purchasing an additional 3,140,824 shares during the period. Generation Investment Management LLP boosted its stake in Charles Schwab by 29.6% in the 3rd quarter. Generation Investment Management LLP now owns 27,092,510 shares of the financial services provider’s stock worth $1,133,280,000 after purchasing an additional 6,193,052 shares during the period. Edgewood Management LLC boosted its stake in Charles Schwab by 1.2% in the 2nd quarter. Edgewood Management LLC now owns 22,116,063 shares of the financial services provider’s stock worth $888,845,000 after purchasing an additional 256,759 shares during the period. Finally, Northern Trust Corp grew its holdings in Charles Schwab by 0.6% during the 2nd quarter. Northern Trust Corp now owns 16,812,955 shares of the financial services provider’s stock valued at $675,714,000 after buying an additional 104,298 shares in the last quarter. Institutional investors and hedge funds own 78.85% of the company’s stock.

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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