Wells Fargo & Company Increases Charles Schwab (NYSE:SCHW) Price Target to $90.00

Charles Schwab (NYSE:SCHW) had its price objective raised by analysts at Wells Fargo & Company from $75.00 to $90.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm currently has an “equal weight” rating on the financial services provider’s stock. Wells Fargo & Company‘s price target indicates a potential upside of 8.64% from the stock’s current price.

A number of other brokerages have also recently issued reports on SCHW. Raymond James reduced their price objective on Charles Schwab from $76.00 to $73.00 in a research note on Tuesday, October 15th. JPMorgan Chase & Co. raised their price target on Charles Schwab from $86.00 to $87.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. Cowen boosted their price objective on Charles Schwab from $69.00 to $75.00 and gave the company a “hold” rating in a research report on Tuesday, October 15th. Deutsche Bank Aktiengesellschaft increased their price objective on Charles Schwab from $77.00 to $80.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Finally, The Goldman Sachs Group lifted their target price on shares of Charles Schwab from $67.00 to $74.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 16th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $79.75.

Charles Schwab Price Performance

Shares of SCHW stock traded up $0.43 during trading on Thursday, hitting $82.84. The company had a trading volume of 696,561 shares, compared to its average volume of 7,964,123. Charles Schwab has a 52 week low of $59.67 and a 52 week high of $83.35. The stock has a market capitalization of $147.43 billion, a price-to-earnings ratio of 32.25, a price-to-earnings-growth ratio of 1.77 and a beta of 0.96. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 0.59. The stock’s 50-day moving average is $75.16 and its two-hundred day moving average is $70.32.

Charles Schwab (NYSE:SCHW) last released its earnings results on Tuesday, October 15th. The financial services provider reported $0.77 EPS for the quarter, beating analysts’ consensus estimates of $0.75 by $0.02. Charles Schwab had a return on equity of 16.92% and a net margin of 27.47%. The business had revenue of $4.85 billion for the quarter, compared to analysts’ expectations of $4.78 billion. During the same quarter in the prior year, the firm earned $0.77 earnings per share. The firm’s revenue was up 5.2% on a year-over-year basis. As a group, analysts predict that Charles Schwab will post 3.12 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider Jonathan S. Beatty sold 2,500 shares of the firm’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $77.02, for a total value of $192,550.00. Following the transaction, the insider now directly owns 18,069 shares in the company, valued at $1,391,674.38. This trade represents a 12.15 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Chairman Charles R. Schwab sold 62,345 shares of the company’s stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $72.52, for a total value of $4,521,259.40. Following the sale, the chairman now owns 60,619,371 shares of the company’s stock, valued at approximately $4,396,116,784.92. This trade represents a 0.10 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 127,968 shares of company stock worth $9,419,271 in the last three months. Insiders own 6.60% of the company’s stock.

Institutional Investors Weigh In On Charles Schwab

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Diversified Trust Co lifted its holdings in Charles Schwab by 26.0% during the second quarter. Diversified Trust Co now owns 7,737 shares of the financial services provider’s stock valued at $570,000 after purchasing an additional 1,595 shares in the last quarter. Swedbank AB raised its holdings in Charles Schwab by 3.6% during the second quarter. Swedbank AB now owns 583,562 shares of the financial services provider’s stock valued at $43,003,000 after acquiring an additional 20,411 shares during the period. Blue Trust Inc. lifted its position in shares of Charles Schwab by 35.7% in the second quarter. Blue Trust Inc. now owns 13,704 shares of the financial services provider’s stock valued at $991,000 after acquiring an additional 3,608 shares in the last quarter. Timber Creek Capital Management LLC boosted its stake in shares of Charles Schwab by 1.5% in the second quarter. Timber Creek Capital Management LLC now owns 115,038 shares of the financial services provider’s stock worth $8,477,000 after acquiring an additional 1,674 shares during the period. Finally, Sutton Place Investors LLC grew its position in shares of Charles Schwab by 2.1% during the second quarter. Sutton Place Investors LLC now owns 8,086 shares of the financial services provider’s stock worth $596,000 after purchasing an additional 167 shares in the last quarter. 84.38% of the stock is currently owned by hedge funds and other institutional investors.

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.