Charles Schwab (NYSE:SCHW) Given New $93.00 Price Target at JPMorgan Chase & Co.

Charles Schwab (NYSE:SCHW) had its price target increased by analysts at JPMorgan Chase & Co. from $87.00 to $93.00 in a research report issued on Tuesday,Benzinga reports. The brokerage currently has an “overweight” rating on the financial services provider’s stock. JPMorgan Chase & Co.‘s price objective suggests a potential upside of 27.45% from the stock’s previous close.

Other analysts also recently issued research reports about the stock. Wells Fargo & Company lifted their target price on shares of Charles Schwab from $75.00 to $90.00 and gave the company an “equal weight” rating in a report on Thursday, December 12th. Citigroup reduced their target price on Charles Schwab from $75.00 to $72.00 and set a “neutral” rating on the stock in a research note on Friday, September 27th. Jefferies Financial Group boosted their price target on Charles Schwab from $84.00 to $94.00 and gave the company a “buy” rating in a research report on Monday, December 9th. JMP Securities reaffirmed a “market outperform” rating and issued a $94.00 price objective (up from $84.00) on shares of Charles Schwab in a research note on Monday, December 9th. Finally, Deutsche Bank Aktiengesellschaft raised their target price on shares of Charles Schwab from $77.00 to $80.00 and gave the company a “buy” rating in a research note on Monday, November 11th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, Charles Schwab presently has an average rating of “Hold” and an average target price of $81.19.

Charles Schwab Trading Down 2.0 %

SCHW traded down $1.51 during mid-day trading on Tuesday, hitting $72.97. 6,562,868 shares of the stock were exchanged, compared to its average volume of 6,045,160. Charles Schwab has a 1-year low of $59.67 and a 1-year high of $83.35. The company has a market cap of $129.86 billion, a PE ratio of 28.50, a PEG ratio of 1.76 and a beta of 0.99. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 0.59. The firm’s fifty day moving average is $77.45 and its two-hundred day moving average is $70.62.

Charles Schwab (NYSE:SCHW) last released its quarterly earnings data 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 company had revenue of $4.85 billion for the quarter, compared to analysts’ expectations of $4.78 billion. Charles Schwab had a net margin of 27.47% and a return on equity of 16.92%. The firm’s revenue for the quarter was up 5.2% on a year-over-year basis. During the same quarter last year, the company earned $0.77 earnings per share. Equities analysts forecast that Charles Schwab will post 3.12 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Charles Schwab news, Director Christopher V. Dodds sold 9,284 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $81.43, for a total transaction of $755,996.12. Following the sale, the director now directly owns 442,807 shares of the company’s stock, valued at $36,057,774.01. The trade was a 2.05 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Jonathan S. Beatty sold 2,300 shares of Charles Schwab stock in a transaction on Monday, November 25th. The stock was sold at an average price of $82.01, for a total transaction of $188,623.00. Following the transaction, the insider now owns 18,069 shares in the company, valued at approximately $1,481,838.69. This trade represents a 11.29 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 118,968 shares of company stock valued at $8,842,821 in the last 90 days. 6.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Charles Schwab

Several institutional investors and hedge funds have recently made changes to their positions in SCHW. Victory Capital Management Inc. lifted its stake in Charles Schwab by 4.0% in the second quarter. Victory Capital Management Inc. now owns 579,518 shares of the financial services provider’s stock valued at $42,705,000 after purchasing an additional 22,208 shares during the last quarter. Savant Capital LLC grew its position in Charles Schwab by 36.3% during the second quarter. Savant Capital LLC now owns 16,133 shares of the financial services provider’s stock valued at $1,189,000 after acquiring an additional 4,297 shares during the last quarter. Acadian Asset Management LLC boosted its stake in shares of Charles Schwab by 1,987.5% in the 2nd quarter. Acadian Asset Management LLC now owns 40,185 shares of the financial services provider’s stock valued at $2,960,000 after purchasing an additional 38,260 shares in the last quarter. Oak Thistle LLC purchased a new position in Charles Schwab in the 2nd quarter worth $287,000. Finally, Prudential PLC boosted its position in Charles Schwab by 45.9% during the second quarter. Prudential PLC now owns 57,604 shares of the financial services provider’s stock valued at $4,245,000 after buying an additional 18,112 shares during the period. 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.