Charles Schwab (NYSE:SCHW) Price Target Cut to $76.00 by Analysts at Keefe, Bruyette & Woods

Charles Schwab (NYSE:SCHW) had its target price cut by stock analysts at Keefe, Bruyette & Woods from $80.00 to $76.00 in a research note issued on Tuesday. The firm presently has an “overweight” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ price target suggests a potential upside of 2.84% from the stock’s current price.

SCHW has been the topic of a number of other research reports. JPMorgan Chase & Co. cut their price target on shares of Charles Schwab from $82.00 to $78.00 and set an “overweight” rating on the stock in a report on Wednesday, July 17th. Citigroup cut their price target on shares of Charles Schwab from $75.00 to $72.00 and set a “neutral” rating on the stock in a report on Friday, September 27th. Bank of America cut their price target on shares of Charles Schwab from $72.00 to $66.00 and set an “underperform” rating on the stock in a report on Wednesday, July 17th. The Goldman Sachs Group cut their target price on shares of Charles Schwab from $71.00 to $67.00 and set a “neutral” rating on the stock in a research note on Thursday, September 26th. Finally, Jefferies Financial Group cut their target price on shares of Charles Schwab from $79.00 to $73.00 and set a “buy” rating on the stock in a research note on Friday, October 4th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $71.82.

Charles Schwab Price Performance

Shares of NYSE:SCHW opened at $73.90 on Tuesday. The stock has a market cap of $131.43 billion, a PE ratio of 28.16, a PEG ratio of 1.43 and a beta of 0.97. The company’s fifty day moving average is $64.23 and its 200 day moving average is $69.49. Charles Schwab has a 52 week low of $48.66 and a 52 week high of $79.49. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 0.65.

Charles Schwab (NYSE:SCHW) last announced its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $0.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.75 by $0.02. The business had revenue of $4.85 billion for the quarter, compared to analyst estimates of $4.78 billion. Charles Schwab had a net margin of 26.30% and a return on equity of 18.14%. The company’s revenue was up 5.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.77 EPS. Research analysts anticipate that Charles Schwab will post 3.06 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the stock in a transaction that occurred on Friday, July 19th. The shares were sold at an average price of $61.96, for a total transaction of $557,640.00. Following the transaction, the director now owns 567,057 shares in the company, valued at $35,134,851.72. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Walter W. Bettinger acquired 25,000 shares of Charles Schwab stock in a transaction dated Wednesday, July 17th. The stock was purchased at an average cost of $66.26 per share, for a total transaction of $1,656,500.00. Following the purchase, the chief executive officer now directly owns 827,377 shares of the company’s stock, valued at approximately $54,822,000.02. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the firm’s stock in a transaction dated Friday, July 19th. The stock was sold at an average price of $61.96, for a total transaction of $557,640.00. Following the completion of the sale, the director now directly owns 567,057 shares of the company’s stock, valued at approximately $35,134,851.72. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 98,856 shares of company stock valued at $6,398,604. Insiders own 6.60% of the company’s stock.

Institutional Trading of Charles Schwab

Several institutional investors and hedge funds have recently modified their holdings of SCHW. Trust Co. of Toledo NA OH purchased a new position in Charles Schwab in the first quarter worth $237,000. Rise Advisors LLC raised its position in shares of Charles Schwab by 4,025.0% in the first quarter. Rise Advisors LLC now owns 825 shares of the financial services provider’s stock worth $60,000 after acquiring an additional 805 shares during the period. Massmutual Trust Co. FSB ADV raised its position in shares of Charles Schwab by 18.3% in the first quarter. Massmutual Trust Co. FSB ADV now owns 4,621 shares of the financial services provider’s stock worth $334,000 after acquiring an additional 716 shares during the period. Collective Family Office LLC raised its position in shares of Charles Schwab by 29.3% in the first quarter. Collective Family Office LLC now owns 4,069 shares of the financial services provider’s stock worth $294,000 after acquiring an additional 923 shares during the period. Finally, Clearview Wealth Advisors LLC acquired a new position in shares of Charles Schwab during the 1st quarter worth about $344,000. 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.