StockNews.com Upgrades Charles Schwab (NYSE:SCHW) to Hold

Charles Schwab (NYSE:SCHWGet Rating) was upgraded by StockNews.com from a “sell” rating to a “hold” rating in a note issued to investors on Thursday.

SCHW has been the topic of a number of other reports. Piper Sandler lowered their price objective on Charles Schwab from $110.00 to $100.00 and set an “overweight” rating on the stock in a research report on Friday, April 22nd. Jefferies Financial Group reduced their price objective on Charles Schwab to $95.00 in a research note on Friday, April 22nd. JPMorgan Chase & Co. cut their target price on Charles Schwab from $107.00 to $101.00 in a research report on Thursday, April 14th. The Goldman Sachs Group began coverage on Charles Schwab in a research report on Tuesday, April 26th. They set a “neutral” rating and a $75.00 target price on the stock. Finally, Citigroup upped their price objective on Charles Schwab from $87.50 to $90.00 and gave the company a “buy” rating in a research report on Friday, April 22nd. Five equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Buy” and an average target price of $94.25.

Shares of Charles Schwab stock opened at $65.61 on Thursday. The company has a current ratio of 0.44, a quick ratio of 0.41 and a debt-to-equity ratio of 0.58. The firm has a market capitalization of $119.22 billion, a P/E ratio of 23.77, a P/E/G ratio of 0.74 and a beta of 1.09. The business has a fifty day simple moving average of $78.72 and a two-hundred day simple moving average of $82.91. Charles Schwab has a 12 month low of $63.34 and a 12 month high of $96.24.

Charles Schwab (NYSE:SCHWGet Rating) last released its quarterly earnings data on Monday, April 18th. The financial services provider reported $0.77 EPS for the quarter, missing the consensus estimate of $0.85 by ($0.08). The business had revenue of $4.67 billion during the quarter, compared to the consensus estimate of $4.82 billion. Charles Schwab had a return on equity of 14.42% and a net margin of 31.24%. Charles Schwab’s quarterly revenue was down .9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.84 earnings per share. Analysts predict that Charles Schwab will post 3.88 earnings per share for the current year.

In other Charles Schwab news, CEO Walter W. Bettinger purchased 4,341 shares of the stock in a transaction on Wednesday, April 27th. The shares were bought at an average price of $68.55 per share, for a total transaction of $297,575.55. Following the completion of the transaction, the chief executive officer now owns 359,714 shares of the company’s stock, valued at approximately $24,658,394.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Walter W. Bettinger purchased 63,188 shares of the stock in a transaction on Friday, April 29th. The shares were acquired at an average price of $67.07 per share, for a total transaction of $4,238,019.16. Following the transaction, the chief executive officer now directly owns 432,625 shares of the company’s stock, valued at approximately $29,016,158.75. The disclosure for this purchase can be found here. Over the last ninety days, insiders have purchased 104,169 shares of company stock worth $7,081,708 and have sold 222,130 shares worth $19,107,957. 7.50% of the stock is owned by company insiders.

Hedge funds have recently modified their holdings of the business. First Foundation Advisors boosted its position in Charles Schwab by 5.1% during the third quarter. First Foundation Advisors now owns 271,839 shares of the financial services provider’s stock worth $19,801,000 after purchasing an additional 13,292 shares in the last quarter. Allspring Global Investments Holdings LLC purchased a new position in shares of Charles Schwab in the fourth quarter valued at approximately $139,544,000. Franklin Resources Inc. lifted its position in shares of Charles Schwab by 0.7% in the third quarter. Franklin Resources Inc. now owns 5,305,209 shares of the financial services provider’s stock valued at $386,431,000 after acquiring an additional 36,423 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp lifted its position in shares of Charles Schwab by 2.1% in the third quarter. Mitsubishi UFJ Trust & Banking Corp now owns 1,611,448 shares of the financial services provider’s stock valued at $117,378,000 after acquiring an additional 33,827 shares in the last quarter. Finally, Shelton Capital Management lifted its position in shares of Charles Schwab by 20.8% in the third quarter. Shelton Capital Management now owns 130,044 shares of the financial services provider’s stock valued at $9,472,000 after acquiring an additional 22,401 shares in the last quarter. Institutional investors own 87.13% of the company’s stock.

Charles Schwab Company Profile (Get Rating)

The Charles Schwab Corporation, together with its subsidiaries, provides wealth management, securities brokerage, banking, asset management, custody, and financial advisory services. The company operates in two segments, Investor Services and Advisor Services. The Investor Services segment provides retail brokerage, investment advisory, banking and trust, retirement plan, and other corporate brokerage services; equity compensation plan sponsors full-service recordkeeping for stock plans, stock options, restricted stock, performance shares, and stock appreciation rights; and retail investor and mutual fund clearing services, as well as compliance solutions.

Read More

Analyst Recommendations for Charles Schwab (NYSE:SCHW)

Want More Great Investing Ideas?

Receive News & Ratings for Charles Schwab Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Charles Schwab and related companies with MarketBeat.com's FREE daily email newsletter.