JPMorgan Chase & Co. Trims Charles Schwab (NYSE:SCHW) Target Price to $81.00

Charles Schwab (NYSE:SCHW) had its target price reduced by JPMorgan Chase & Co. from $89.00 to $81.00 in a research report sent to investors on Friday morning, Benzinga reports. They currently have an overweight rating on the financial services provider’s stock.

Several other research firms have also recently weighed in on SCHW. Keefe, Bruyette & Woods boosted their price objective on shares of Charles Schwab from $75.00 to $76.00 and gave the company a market perform rating in a report on Tuesday, April 16th. UBS Group upped their price target on shares of Charles Schwab from $87.00 to $91.00 and gave the stock a buy rating in a research report on Thursday, May 23rd. JMP Securities reiterated a market outperform rating and issued a $80.00 price target on shares of Charles Schwab in a research report on Tuesday, May 28th. Piper Sandler upped their target price on shares of Charles Schwab from $75.00 to $78.00 and gave the stock an overweight rating in a research report on Friday, April 12th. Finally, Morgan Stanley upped their target price on shares of Charles Schwab from $65.00 to $71.00 and gave the stock an equal weight rating in a research report on Tuesday, April 9th. Three analysts have rated the stock with a sell rating, five have assigned a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of Hold and an average price target of $74.65.

Charles Schwab Trading Down 1.2 %

Shares of SCHW opened at $72.37 on Friday. The firm’s 50-day moving average price is $73.83 and its 200-day moving average price is $68.05. The firm has a market capitalization of $128.62 billion, a price-to-earnings ratio of 30.28, a PEG ratio of 1.12 and a beta of 0.96. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 0.69. Charles Schwab has a 1-year low of $48.66 and a 1-year high of $79.49.

Charles Schwab (NYSE:SCHW) last posted its quarterly earnings data on Monday, April 15th. The financial services provider reported $0.74 EPS for the quarter, topping the consensus estimate of $0.73 by $0.01. The business had revenue of $4.74 billion for the quarter, compared to analyst estimates of $4.71 billion. Charles Schwab had a net margin of 26.14% and a return on equity of 19.25%. Sell-side analysts anticipate that Charles Schwab will post 3.28 EPS for the current year.

Charles Schwab Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, May 24th. Stockholders of record on Friday, May 10th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.38%. The ex-dividend date was Thursday, May 9th. Charles Schwab’s dividend payout ratio is currently 41.84%.

Insider Activity

In related news, General Counsel Peter J. Morgan III sold 24,520 shares of Charles Schwab stock in a transaction that occurred on Tuesday, April 16th. The shares were sold at an average price of $72.23, for a total value of $1,771,079.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Charles Schwab news, Chairman Charles R. Schwab sold 89,275 shares of the firm’s stock in a transaction that occurred on Monday, April 22nd. The shares were sold at an average price of $74.62, for a total transaction of $6,661,700.50. Following the completion of the transaction, the chairman now directly owns 30,641,981 shares of the company’s stock, valued at approximately $2,286,504,622.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Peter J. Morgan III sold 24,520 shares of the firm’s stock in a transaction that occurred on Tuesday, April 16th. The stock was sold at an average price of $72.23, for a total transaction of $1,771,079.60. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 685,467 shares of company stock worth $50,752,095. Corporate insiders own 6.60% of the company’s stock.

Hedge Funds Weigh In On Charles Schwab

Institutional investors have recently made changes to their positions in the company. Price T Rowe Associates Inc. MD increased its holdings in Charles Schwab by 33.4% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 69,360,233 shares of the financial services provider’s stock worth $4,771,985,000 after acquiring an additional 17,369,091 shares in the last quarter. Norges Bank acquired a new position in shares of Charles Schwab during the 4th quarter valued at about $950,192,000. Massachusetts Financial Services Co. MA boosted its position in shares of Charles Schwab by 26.3% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 29,775,952 shares of the financial services provider’s stock valued at $1,634,700,000 after acquiring an additional 6,195,934 shares during the last quarter. Ameriprise Financial Inc. boosted its position in shares of Charles Schwab by 186.2% during the 3rd quarter. Ameriprise Financial Inc. now owns 7,107,176 shares of the financial services provider’s stock valued at $390,234,000 after acquiring an additional 4,624,302 shares during the last quarter. Finally, Boston Partners raised its holdings in Charles Schwab by 424.7% in the 4th quarter. Boston Partners now owns 4,451,090 shares of the financial services provider’s stock valued at $305,400,000 after buying an additional 3,602,830 shares during the period. 84.38% of the stock is owned by hedge funds and other institutional investors.

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.