Bank of America Increases Charles Schwab (NYSE:SCHW) Price Target to $70.00

Charles Schwab (NYSE:SCHW) had its price target increased by Bank of America from $68.00 to $70.00 in a report published on Tuesday morning, Benzinga reports. The brokerage currently has an underperform rating on the financial services provider’s stock.

Several other research analysts have also weighed in on the company. TD Cowen raised Charles Schwab from a market perform rating to an outperform rating and set a $87.00 target price on the stock in a research report on Friday, March 22nd. JMP Securities raised their price objective on Charles Schwab from $77.00 to $80.00 and gave the company a market outperform rating in a research report on Tuesday, April 9th. Citigroup raised their price objective on Charles Schwab from $70.00 to $75.00 and gave the company a neutral rating in a research report on Thursday, April 11th. StockNews.com raised Charles Schwab from a sell rating to a hold rating in a research report on Friday, March 15th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on Charles Schwab from $75.00 to $77.00 and gave the company a buy rating in a research report on Tuesday, March 19th. Three research analysts have rated the stock with a sell rating, six have given a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, Charles Schwab has an average rating of Hold and an average target price of $74.47.

Charles Schwab Trading Up 0.6 %

Shares of Charles Schwab stock opened at $72.92 on Tuesday. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.82. The firm has a market cap of $129.51 billion, a PE ratio of 30.51, a P/E/G ratio of 1.10 and a beta of 1.01. The business’s fifty day moving average is $68.38 and its two-hundred day moving average is $62.89. Charles Schwab has a fifty-two week low of $45.65 and a fifty-two week high of $73.88.

Charles Schwab (NYSE:SCHW) last issued its earnings results on Wednesday, January 17th. The financial services provider reported $0.68 earnings per share for the quarter, topping the consensus estimate of $0.64 by $0.04. The business had revenue of $4.46 billion for the quarter, compared to analyst estimates of $4.49 billion. Charles Schwab had a return on equity of 19.86% and a net margin of 26.14%. The business’s quarterly revenue was down 18.9% on a year-over-year basis. During the same period last year, the company posted $1.07 EPS. Analysts anticipate that Charles Schwab will post 3.41 earnings per share for the current year.

Charles Schwab Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, February 23rd. Investors of record on Friday, February 9th were paid a $0.25 dividend. The ex-dividend date was Thursday, February 8th. This represents a $1.00 dividend on an annualized basis and a yield of 1.37%. Charles Schwab’s dividend payout ratio (DPR) is 41.84%.

Insider Buying and Selling

In other Charles Schwab news, CFO Peter B. Crawford sold 5,482 shares of the firm’s stock in a transaction dated Thursday, April 18th. The shares were sold at an average price of $73.46, for a total value of $402,707.72. Following the transaction, the chief financial officer now owns 60,567 shares of the company’s stock, valued at $4,449,251.82. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Charles Schwab news, insider Nigel J. Murtagh sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, April 16th. The shares were sold at an average price of $72.40, for a total value of $724,000.00. Following the transaction, the insider now owns 71,446 shares of the company’s stock, valued at $5,172,690.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Peter B. Crawford sold 5,482 shares of the firm’s stock in a transaction dated Thursday, April 18th. The stock was sold at an average price of $73.46, for a total transaction of $402,707.72. Following the completion of the transaction, the chief financial officer now directly owns 60,567 shares in the company, valued at approximately $4,449,251.82. The disclosure for this sale can be found here. Over the last three months, insiders sold 312,800 shares of company stock worth $21,081,569. Corporate insiders own 6.60% of the company’s stock.

Hedge Funds Weigh In On Charles Schwab

A number of large investors have recently bought and sold shares of SCHW. Price T Rowe Associates Inc. MD raised its holdings in shares of Charles Schwab by 33.4% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 69,360,233 shares of the financial services provider’s stock valued at $4,771,985,000 after buying an additional 17,369,091 shares during the last quarter. Norges Bank acquired a new position in shares of Charles Schwab during the fourth quarter worth approximately $1,325,555,000. Morgan Stanley boosted its position in shares of Charles Schwab by 62.5% during the fourth quarter. Morgan Stanley now owns 22,255,649 shares of the financial services provider’s stock worth $1,853,005,000 after buying an additional 8,563,389 shares during the period. Dodge & Cox boosted its position in shares of Charles Schwab by 10.5% during the fourth quarter. Dodge & Cox now owns 86,421,986 shares of the financial services provider’s stock worth $5,945,833,000 after buying an additional 8,182,467 shares during the period. Finally, Massachusetts Financial Services Co. MA boosted its position in shares of Charles Schwab by 26.3% during the third quarter. Massachusetts Financial Services Co. MA now owns 29,775,952 shares of the financial services provider’s stock worth $1,634,700,000 after buying an additional 6,195,934 shares during the period. Institutional investors own 84.38% of the company’s stock.

Charles Schwab Company Profile

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.