Charles Schwab (NYSE:SCHW) Price Target Raised to $80.00

Charles Schwab (NYSE:SCHW) had its target price increased by research analysts at JMP Securities from $77.00 to $80.00 in a note issued to investors on Tuesday, Benzinga reports. The brokerage currently has a “market outperform” rating on the financial services provider’s stock. JMP Securities’ target price indicates a potential upside of 10.50% from the company’s current price.

Several other equities analysts have also issued reports on SCHW. UBS Group boosted their target price on shares of Charles Schwab from $72.00 to $82.00 and gave the company a “buy” rating in a report on Friday, December 15th. TD Cowen upgraded shares of Charles Schwab from a “market perform” rating to an “outperform” rating and set a $87.00 target price on the stock in a report on Friday, March 22nd. Deutsche Bank Aktiengesellschaft raised their target price on Charles Schwab from $75.00 to $77.00 and gave the company a “buy” rating in a research note on Tuesday, March 19th. The Goldman Sachs Group reiterated a “neutral” rating and issued a $71.00 price target (up previously from $70.00) on shares of Charles Schwab in a report on Wednesday, January 3rd. Finally, Citigroup downgraded Charles Schwab from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $75.00 to $70.00 in a report on Wednesday, January 10th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, Charles Schwab presently has a consensus rating of “Hold” and an average target price of $71.65.

Charles Schwab Stock Performance

Shares of Charles Schwab stock opened at $72.40 on Tuesday. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.82. Charles Schwab has a twelve month low of $45.65 and a twelve month high of $72.97. The stock has a market cap of $128.40 billion, a price-to-earnings ratio of 28.50, a P/E/G ratio of 1.08 and a beta of 1.01. The company’s fifty day moving average is $66.93 and its 200 day moving average is $62.04.

Charles Schwab (NYSE:SCHW) last issued its quarterly earnings data on Wednesday, January 17th. The financial services provider reported $0.68 earnings per share for the quarter, topping the consensus estimate of $0.64 by $0.04. The company had revenue of $4.46 billion for the quarter, compared to analysts’ expectations of $4.49 billion. Charles Schwab had a net margin of 26.90% and a return on equity of 21.33%. Charles Schwab’s revenue for the quarter was down 18.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.07 earnings per share. Sell-side analysts forecast that Charles Schwab will post 3.36 EPS for the current year.

Insiders Place Their Bets

In other news, insider Nigel J. Murtagh sold 29,991 shares of the company’s stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $67.80, for a total transaction of $2,033,389.80. Following the transaction, the insider now owns 81,446 shares of the company’s stock, valued at approximately $5,522,038.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Charles Schwab news, CFO Peter B. Crawford sold 4,000 shares of the company’s stock in a transaction dated Monday, January 22nd. The stock was sold at an average price of $64.49, for a total value of $257,960.00. Following the transaction, the chief financial officer now directly owns 37,611 shares in the company, valued at approximately $2,425,533.39. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Nigel J. Murtagh sold 29,991 shares of the stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $67.80, for a total value of $2,033,389.80. Following the sale, the insider now owns 81,446 shares of the company’s stock, valued at $5,522,038.80. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 216,584 shares of company stock valued at $14,200,769. Insiders own 6.60% of the company’s stock.

Institutional Investors Weigh In On Charles Schwab

Several institutional investors and hedge funds have recently bought and sold shares of the business. Providence Capital Advisors LLC bought a new position in shares of Charles Schwab in the 3rd quarter worth approximately $28,000. Main Street Group LTD bought a new position in Charles Schwab during the 4th quarter valued at approximately $29,000. Sugarloaf Wealth Management LLC increased its position in Charles Schwab by 60.0% during the 4th quarter. Sugarloaf Wealth Management LLC now owns 440 shares of the financial services provider’s stock valued at $30,000 after buying an additional 165 shares in the last quarter. Frazier Financial Advisors LLC bought a new position in Charles Schwab during the 4th quarter valued at approximately $30,000. Finally, Wetzel Investment Advisors Inc. bought a new position in Charles Schwab during the 4th quarter valued at approximately $31,000. Hedge funds and other 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.