Piper Sandler Increases Charles Schwab (NYSE:SCHW) Price Target to $65.00

Charles Schwab (NYSE:SCHW) had its price objective hoisted by Piper Sandler from $64.00 to $65.00 in a report published on Wednesday, Benzinga reports. They currently have a neutral rating on the financial services provider’s stock.

A number of other brokerages have also issued reports on SCHW. JPMorgan Chase & Co. cut their price target on Charles Schwab from $82.00 to $78.00 and set an “overweight” rating for the company in a research note on Wednesday, July 17th. Keefe, Bruyette & Woods increased their target price on Charles Schwab from $76.00 to $81.00 and gave the stock an “outperform” rating in a research report on Wednesday. Deutsche Bank Aktiengesellschaft lowered their price target on Charles Schwab from $77.00 to $76.00 in a report on Tuesday. Cowen increased their price objective on shares of Charles Schwab from $69.00 to $75.00 and gave the company a “hold” rating in a report on Tuesday. Finally, The Goldman Sachs Group boosted their target price on shares of Charles Schwab from $67.00 to $74.00 and gave the stock a “neutral” rating in a report on Wednesday. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $73.59.

Charles Schwab Stock Down 0.8 %

SCHW stock opened at $71.34 on Wednesday. The business’s 50-day moving average price is $64.97 and its 200-day moving average price is $69.52. The stock has a market cap of $126.87 billion, a P/E ratio of 29.60, a PEG ratio of 1.47 and a beta of 0.97. Charles Schwab has a twelve month low of $48.66 and a twelve month 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 posted its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $0.77 earnings per share for the quarter, topping analysts’ consensus estimates of $0.75 by $0.02. The business had revenue of $4.85 billion during 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 period in the prior year, the business posted $0.77 earnings per share. On average, equities research analysts forecast that Charles Schwab will post 3.06 EPS for the current year.

Charles Schwab Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Friday, August 9th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, August 9th. This represents a $1.00 annualized dividend and a dividend yield of 1.40%. Charles Schwab’s dividend payout ratio (DPR) is 41.49%.

Insider Transactions at Charles Schwab

In other news, insider Paul V. Woolway sold 1,150 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $65.20, for a total transaction of $74,980.00. Following the sale, the insider now directly owns 61,887 shares of the company’s stock, valued at $4,035,032.40. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Paul V. Woolway sold 1,150 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $65.20, for a total transaction of $74,980.00. Following the transaction, the insider now owns 61,887 shares of the company’s stock, valued at approximately $4,035,032.40. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Carolyn Schwab-Pomerantz sold 12,320 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $65.10, for a total value of $802,032.00. Following the transaction, the director now directly owns 562,129 shares in the company, valued at approximately $36,594,597.90. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 182,001 shares of company stock valued at $12,512,592 in the last ninety days. Corporate insiders own 6.60% of the company’s stock.

Hedge Funds Weigh In On Charles Schwab

Several hedge funds have recently bought and sold shares of the business. Price T Rowe Associates Inc. MD grew its position in shares of Charles Schwab by 4.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 72,306,560 shares of the financial services provider’s stock worth $5,230,657,000 after buying an additional 2,946,327 shares in the last quarter. Darsana Capital Partners LP grew its position in shares of Charles Schwab by 200.0% during the 2nd quarter. Darsana Capital Partners LP now owns 3,000,000 shares of the financial services provider’s stock worth $221,070,000 after buying an additional 2,000,000 shares in the last quarter. Mondrian Investment Partners LTD grew its position in shares of Charles Schwab by 28,736.1% during the 1st quarter. Mondrian Investment Partners LTD now owns 1,485,637 shares of the financial services provider’s stock worth $107,471,000 after buying an additional 1,480,485 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of Charles Schwab during the 1st quarter worth $105,563,000. Finally, Westwood Holdings Group Inc. grew its position in shares of Charles Schwab by 231.2% during the 1st quarter. Westwood Holdings Group Inc. now owns 1,498,929 shares of the financial services provider’s stock worth $108,433,000 after buying an additional 1,046,322 shares in the last quarter. Institutional investors own 84.38% of the company’s stock.

About Charles Schwab

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.