Charles Schwab (NYSE:SCHW) PT Raised to $86.00

Charles Schwab (NYSE:SCHWGet Rating) had its price objective boosted by Jefferies Financial Group from $78.00 to $86.00 in a report released on Monday morning, The Fly reports. They currently have a buy rating on the financial services provider’s stock. Jefferies Financial Group also issued estimates for Charles Schwab’s Q3 2022 earnings at $1.03 EPS, Q4 2022 earnings at $1.14 EPS, FY2022 earnings at $3.91 EPS, Q1 2023 earnings at $1.18 EPS, Q2 2023 earnings at $1.25 EPS, Q3 2023 earnings at $1.28 EPS, Q4 2023 earnings at $1.34 EPS, FY2023 earnings at $5.05 EPS and FY2024 earnings at $5.45 EPS.

Several other research analysts also recently weighed in on the stock. UBS Group boosted their target price on shares of Charles Schwab from $82.00 to $85.00 and gave the company a buy rating in a research note on Friday, September 16th. Redburn Partners assumed coverage on shares of Charles Schwab in a research note on Thursday, June 23rd. They issued a neutral rating for the company. Morgan Stanley dropped their price objective on shares of Charles Schwab from $98.00 to $93.00 and set an overweight rating for the company in a research note on Monday, August 1st. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Charles Schwab from $90.00 to $95.00 in a research note on Friday, August 19th. Finally, Barclays assumed coverage on shares of Charles Schwab in a research note on Wednesday, August 31st. They set an equal weight rating and a $81.00 price objective for the company. Five analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and an average target price of $91.46.

Charles Schwab Price Performance

Charles Schwab stock opened at $72.06 on Monday. Charles Schwab has a 52 week low of $59.35 and a 52 week high of $96.24. The company has a quick ratio of 0.41, a current ratio of 0.41 and a debt-to-equity ratio of 0.62. The firm’s 50-day simple moving average is $70.32 and its 200 day simple moving average is $71.42. The firm has a market capitalization of $130.99 billion, a PE ratio of 23.70, a P/E/G ratio of 0.92 and a beta of 1.07.

Charles Schwab (NYSE:SCHWGet Rating) last announced its earnings results on Monday, July 18th. The financial services provider reported $0.97 earnings per share for the quarter, beating the consensus estimate of $0.91 by $0.06. Charles Schwab had a net margin of 33.09% and a return on equity of 16.82%. The firm had revenue of $5.09 billion during the quarter, compared to the consensus estimate of $5.04 billion. During the same quarter in the previous year, the company posted $0.70 EPS. The firm’s revenue for the quarter was up 12.5% on a year-over-year basis. On average, equities research analysts predict that Charles Schwab will post 3.91 EPS for the current fiscal year.

Charles Schwab Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 26th. Stockholders of record on Friday, August 12th were issued a dividend of $0.22 per share. The ex-dividend date was Thursday, August 11th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.22%. This is a boost from Charles Schwab’s previous quarterly dividend of $0.20. Charles Schwab’s payout ratio is presently 28.95%.

Insiders Place Their Bets

In other Charles Schwab news, insider Jonathan M. Craig sold 8,032 shares of the company’s stock in a transaction that occurred on Friday, August 12th. The stock was sold at an average price of $75.00, for a total value of $602,400.00. Following the completion of the transaction, the insider now owns 4,019 shares in the company, valued at approximately $301,425. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, Chairman Charles R. Schwab sold 149,600 shares of the stock in a transaction that occurred on Thursday, July 28th. The stock was sold at an average price of $65.36, for a total transaction of $9,777,856.00. Following the completion of the transaction, the chairman now directly owns 69,749,230 shares in the company, valued at approximately $4,558,809,672.80. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Jonathan M. Craig sold 8,032 shares of the stock in a transaction that occurred on Friday, August 12th. The shares were sold at an average price of $75.00, for a total value of $602,400.00. Following the transaction, the insider now owns 4,019 shares of the company’s stock, valued at $301,425. The disclosure for this sale can be found here. Insiders sold a total of 277,632 shares of company stock worth $17,904,256 in the last 90 days. 7.50% of the stock is owned by company insiders.

Institutional Investors Weigh In On Charles Schwab

Several institutional investors and hedge funds have recently made changes to their positions in the company. Capital Research Global Investors increased its position in Charles Schwab by 2,611.3% in the first quarter. Capital Research Global Investors now owns 23,832,375 shares of the financial services provider’s stock worth $2,009,428,000 after buying an additional 22,953,375 shares during the period. Norges Bank acquired a new stake in Charles Schwab in the fourth quarter worth $1,127,795,000. Royal Bank of Canada increased its position in Charles Schwab by 266.1% in the first quarter. Royal Bank of Canada now owns 16,120,279 shares of the financial services provider’s stock worth $1,359,101,000 after buying an additional 11,716,745 shares during the period. Dodge & Cox increased its position in Charles Schwab by 9.4% in the second quarter. Dodge & Cox now owns 79,042,463 shares of the financial services provider’s stock worth $4,993,903,000 after buying an additional 6,803,282 shares during the period. Finally, State Street Corp increased its position in Charles Schwab by 6.6% in the fourth quarter. State Street Corp now owns 69,667,441 shares of the financial services provider’s stock worth $5,859,032,000 after buying an additional 4,305,161 shares during the period. 82.45% of the stock is owned by institutional investors and hedge funds.

About Charles Schwab

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The Charles Schwab Corporation, together with its subsidiaries, provides wealth management, securities brokerage, banking, asset management, custody, and financial advisory services. The company operates in two segments, Investor Services and Advisor Services. The Investor Services segment provides retail brokerage, investment advisory, banking and trust, retirement plan, 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 and mutual fund clearing services, as well as compliance solutions.

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