The Goldman Sachs Group Lowers Charles Schwab (NYSE:SCHW) Price Target to $67.00

Charles Schwab (NYSE:SCHW) had its price target cut by equities research analysts at The Goldman Sachs Group from $71.00 to $67.00 in a research report issued on Thursday, Benzinga reports. The brokerage presently has a “neutral” rating on the financial services provider’s stock. The Goldman Sachs Group’s price objective suggests a potential upside of 4.00% from the company’s current price.

Other equities research analysts also recently issued research reports about the company. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $80.00 price objective on shares of Charles Schwab in a report on Thursday, August 22nd. UBS Group cut their price target on shares of Charles Schwab from $91.00 to $90.00 and set a “buy” rating on the stock in a research note on Tuesday, July 9th. Wells Fargo & Company assumed coverage on shares of Charles Schwab in a research note on Thursday, September 12th. They issued an “equal weight” rating and a $70.00 price objective for the company. Bank of America cut their target price on shares of Charles Schwab from $72.00 to $66.00 and set an “underperform” rating on the stock in a research note on Wednesday, July 17th. Finally, TD Cowen reiterated a “hold” rating and set a $71.00 target price (down from $88.00) on shares of Charles Schwab in a report on Wednesday, July 17th. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $73.31.

Charles Schwab Trading Up 0.9 %

NYSE SCHW opened at $64.42 on Thursday. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.42 and a quick ratio of 0.42. The stock has a market capitalization of $114.57 billion, a P/E ratio of 26.95, a PEG ratio of 1.21 and a beta of 0.97. The firm’s 50-day moving average is $64.10 and its two-hundred day moving average is $69.81. Charles Schwab has a 12 month low of $48.66 and a 12 month high of $79.49.

Charles Schwab (NYSE:SCHW) last issued its quarterly earnings data on Tuesday, July 16th. The financial services provider reported $0.73 EPS for the quarter, topping the consensus estimate of $0.72 by $0.01. The firm had revenue of $4.69 billion for the quarter, compared to analyst estimates of $4.68 billion. Charles Schwab had a net margin of 26.30% and a return on equity of 18.14%. The business’s revenue for the quarter was up .7% compared to the same quarter last year. During the same period in the prior year, the business posted $0.75 EPS. On average, sell-side analysts anticipate that Charles Schwab will post 3.05 earnings per share for the current year.

Insider Buying and Selling

In other Charles Schwab news, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $64.05, for a total value of $576,450.00. Following the transaction, the director now directly owns 554,929 shares in the company, valued at $35,543,202.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Walter W. Bettinger bought 25,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 17th. The stock was purchased at an average cost of $66.26 per share, with a total value of $1,656,500.00. Following the transaction, the chief executive officer now directly owns 827,377 shares in the company, valued at $54,822,000.02. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Carolyn Schwab-Pomerantz sold 9,000 shares of Charles Schwab stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $64.05, for a total value of $576,450.00. Following the transaction, the director now directly owns 554,929 shares in the company, valued at approximately $35,543,202.45. The disclosure for this sale can be found here. Insiders sold a total of 99,636 shares of company stock worth $6,457,104 over the last 90 days. 6.60% of the stock is owned by insiders.

Institutional Investors Weigh In On Charles Schwab

Large investors have recently modified their holdings of the company. Gryphon Financial Partners LLC acquired a new position in Charles Schwab in the fourth quarter valued at $466,000. Edmond DE Rothschild Holding S.A. increased its position in Charles Schwab by 12.1% in the 4th quarter. Edmond DE Rothschild Holding S.A. now owns 11,361 shares of the financial services provider’s stock valued at $782,000 after acquiring an additional 1,229 shares during the period. Stifel Financial Corp raised its stake in Charles Schwab by 9.0% during the 4th quarter. Stifel Financial Corp now owns 1,269,438 shares of the financial services provider’s stock valued at $87,339,000 after acquiring an additional 104,749 shares during the last quarter. Focus Financial Network Inc. ADV acquired a new stake in Charles Schwab during the 4th quarter worth approximately $2,650,000. Finally, Legacy Advisors LLC grew its stake in shares of Charles Schwab by 17.3% in the 4th quarter. Legacy Advisors LLC now owns 6,167 shares of the financial services provider’s stock valued at $424,000 after purchasing an additional 911 shares during the last quarter. 84.38% of the stock is owned by institutional investors and hedge funds.

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.