Barclays Raises Charles Schwab (NYSE:SCHW) Price Target to $74.00

Charles Schwab (NYSE:SCHW) had its target price upped by Barclays from $64.00 to $74.00 in a research report sent to investors on Wednesday morning, Benzinga reports. The firm currently has an equal weight rating on the financial services provider’s stock.

A number of other equities research analysts have also weighed in on the company. Citigroup reduced their price objective on Charles Schwab from $75.00 to $72.00 and set a “neutral” rating on the stock in a research report on Friday, September 27th. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Charles Schwab from $77.00 to $76.00 in a research note on Tuesday. JMP Securities boosted their price objective on shares of Charles Schwab from $82.00 to $84.00 and gave the stock a “market outperform” rating in a research note on Wednesday. Cowen lifted their target price on Charles Schwab from $69.00 to $75.00 and gave the stock a “hold” rating in a report on Tuesday. Finally, Piper Sandler lifted their price objective on Charles Schwab from $64.00 to $65.00 and gave the stock a “neutral” rating in a research note on Wednesday. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $73.59.

Charles Schwab Price Performance

Charles Schwab stock opened at $72.08 on Wednesday. The stock has a fifty day moving average of $64.61 and a 200-day moving average of $69.51. The stock has a market capitalization of $128.11 billion, a P/E ratio of 30.16, a price-to-earnings-growth ratio of 1.43 and a beta of 0.97. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.42 and a current ratio of 0.42. Charles Schwab has a 52 week low of $48.66 and a 52 week high of $79.49.

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, beating the consensus estimate of $0.75 by $0.02. Charles Schwab had a net margin of 26.30% and a return on equity of 18.14%. The company had revenue of $4.85 billion for the quarter, compared to analyst estimates of $4.78 billion. During the same period in the previous year, the firm posted $0.77 EPS. The firm’s revenue was up 5.2% on a year-over-year basis. On average, sell-side analysts expect that Charles Schwab will post 3.06 earnings per share for the current fiscal year.

Charles Schwab Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Friday, August 9th were paid a $0.25 dividend. The ex-dividend date was Friday, August 9th. This represents a $1.00 annualized dividend and a yield of 1.39%. Charles Schwab’s dividend payout ratio (DPR) is 41.84%.

Insider Activity

In related news, Director Carolyn Schwab-Pomerantz sold 9,000 shares of Charles Schwab stock in a transaction dated Friday, July 19th. The stock was sold at an average price of $61.96, for a total value of $557,640.00. Following the completion of the sale, the director now owns 567,057 shares of the company’s stock, valued at approximately $35,134,851.72. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Charles Schwab news, 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 value of $557,640.00. Following the completion of the transaction, the director now owns 567,057 shares in the company, valued at $35,134,851.72. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Charles R. Schwab sold 67,386 shares of the firm’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $65.11, for a total transaction of $4,387,502.46. Following the completion of the transaction, the chairman now owns 60,619,371 shares of the company’s stock, valued at $3,946,927,245.81. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 98,856 shares of company stock valued at $6,398,604 in the last ninety days. 6.60% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of SCHW. Nelson Capital Management LLC lifted its position in Charles Schwab by 0.4% during the first quarter. Nelson Capital Management LLC now owns 37,726 shares of the financial services provider’s stock valued at $2,729,000 after purchasing an additional 141 shares during the last quarter. Abbrea Capital LLC increased its stake in Charles Schwab by 2.5% in the first quarter. Abbrea Capital LLC now owns 5,777 shares of the financial services provider’s stock valued at $418,000 after acquiring an additional 142 shares during the last quarter. Alliance Wealth Advisors LLC raised its position in Charles Schwab by 2.7% during the third quarter. Alliance Wealth Advisors LLC now owns 5,358 shares of the financial services provider’s stock valued at $347,000 after purchasing an additional 142 shares in the last quarter. Ironwood Financial llc boosted its holdings in shares of Charles Schwab by 1.6% in the 1st quarter. Ironwood Financial llc now owns 10,186 shares of the financial services provider’s stock worth $737,000 after purchasing an additional 160 shares in the last quarter. Finally, Ascent Wealth Partners LLC lifted its position in Charles Schwab by 0.7% in the 2nd quarter. Ascent Wealth Partners LLC now owns 23,361 shares of the financial services provider’s stock worth $1,721,000 after buying an additional 164 shares during the last quarter. Hedge funds and other 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.