Charles Schwab (NYSE:SCHW) Stock Rating Upgraded by Citigroup

Charles Schwab (NYSE:SCHW – Get Rating) was upgraded by analysts at Citigroup from a “neutral” rating to a “buy” rating in a research note issued to investors on Monday, MarketBeat Ratings reports. The firm currently has a $75.00 price target on the financial services provider’s stock, down from their prior price target of $83.00. Citigroup’s price objective indicates a potential upside of 32.32% from the stock’s previous close.

Other equities research analysts have also recently issued reports about the stock. Morgan Stanley reduced their target price on shares of Charles Schwab from $104.00 to $99.00 and set an “overweight” rating for the company in a report on Monday, January 30th. Bank of America cut Charles Schwab from a “buy” rating to an “underperform” rating and decreased their price objective for the stock from $92.00 to $75.00 in a research report on Thursday, January 19th. UBS Group upped their price target on Charles Schwab from $90.00 to $97.00 and gave the stock a “buy” rating in a research note on Monday, January 9th. Credit Suisse Group lowered their price objective on shares of Charles Schwab from $87.00 to $81.50 and set a “neutral” rating on the stock in a research report on Monday, January 30th. Finally, William Blair restated an “outperform” rating on shares of Charles Schwab in a research report on Tuesday, January 17th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, Charles Schwab currently has an average rating of “Moderate Buy” and a consensus target price of $87.88.

Charles Schwab Stock Up 9.2 %

Shares of SCHW opened at $56.68 on Monday. The company’s 50-day simple moving average is $78.02 and its 200-day simple moving average is $76.94. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.38 and a current ratio of 0.38. Charles Schwab has a 1 year low of $45.00 and a 1 year high of $93.16. The stock has a market capitalization of $101.54 billion, a PE ratio of 16.19, a P/E/G ratio of 0.91 and a beta of 0.93.

Charles Schwab (NYSE:SCHW – Get Rating) last released its quarterly earnings data on Wednesday, January 18th. The financial services provider reported $1.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.10 by ($0.03). The firm had revenue of $5.50 billion for the quarter, compared to analysts’ expectations of $5.55 billion. Charles Schwab had a return on equity of 24.94% and a net margin of 34.60%. Charles Schwab’s revenue for the quarter was up 16.8% on a year-over-year basis. During the same period last year, the firm posted $0.86 earnings per share. Analysts forecast that Charles Schwab will post 4.35 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Jonathan M. Craig sold 51,144 shares of the stock in a transaction dated Wednesday, January 18th. The shares were sold at an average price of $80.30, for a total value of $4,106,863.20. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, Chairman Charles R. Schwab sold 188,670 shares of the company’s stock in a transaction that occurred on Monday, February 6th. The shares were sold at an average price of $80.07, for a total transaction of $15,106,806.90. Following the transaction, the chairman now owns 30,856,646 shares of the company’s stock, valued at $2,470,691,645.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jonathan M. Craig sold 51,144 shares of Charles Schwab stock in a transaction that occurred on Wednesday, January 18th. The stock was sold at an average price of $80.30, for a total transaction of $4,106,863.20. The disclosure for this sale can be found here. Over the last 90 days, insiders bought 65,000 shares of company stock worth $3,823,200 and sold 728,106 shares worth $58,067,403. Company insiders own 6.90% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in SCHW. United Capital Financial Advisers LLC grew its holdings in Charles Schwab by 12.4% in the 2nd quarter. United Capital Financial Advisers LLC now owns 16,222 shares of the financial services provider’s stock valued at $1,025,000 after buying an additional 1,793 shares during the period. Prime Capital Investment Advisors LLC acquired a new position in shares of Charles Schwab in the 3rd quarter valued at $233,000. Condor Capital Management grew its stake in shares of Charles Schwab by 0.5% during the 3rd quarter. Condor Capital Management now owns 52,887 shares of the financial services provider’s stock valued at $3,801,000 after buying an additional 241 shares during the period. Hanson & Doremus Investment Management grew its stake in shares of Charles Schwab by 3.1% during the 3rd quarter. Hanson & Doremus Investment Management now owns 111,546 shares of the financial services provider’s stock valued at $8,017,000 after buying an additional 3,329 shares during the period. Finally, Coronation Fund Managers Ltd. increased its holdings in shares of Charles Schwab by 28.8% during the 3rd quarter. Coronation Fund Managers Ltd. now owns 673,930 shares of the financial services provider’s stock worth $48,435,000 after buying an additional 150,710 shares during the last quarter. Hedge funds and other institutional investors own 73.49% of the company’s stock.

About Charles Schwab

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The Charles Schwab Corp. is a savings and loan holding company, which engages in the provision of wealth management, securities brokerage, banking, asset management, custody, and financial advisory services. It operates through the Investor Services and Advisor Services segments. The Investor Services segment includes retail brokerage and banking services to individual investors, and retirement plan services, as well as other corporate brokerage services, to businesses and their employees.