Charles Schwab (NYSE:SCHW) Stock Price Up 2.6% on Analyst Upgrade

The Charles Schwab Co. (NYSE:SCHW) was up 2.6% on Wednesday after TD Cowen raised their price target on the stock from $87.00 to $92.00. TD Cowen currently has a buy rating on the stock. Charles Schwab traded as high as $73.26 and last traded at $73.07. Approximately 12,021,566 shares were traded during trading, an increase of 80% from the average daily volume of 6,668,537 shares. The stock had previously closed at $71.23.

Several other equities analysts also recently weighed in on SCHW. StockNews.com raised Charles Schwab from a “sell” rating to a “hold” rating in a research report on Friday, March 15th. Bank of America boosted their target price on Charles Schwab from $68.00 to $70.00 and gave the company an “underperform” rating in a research report on Tuesday. Barclays increased their target price on Charles Schwab from $74.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Tuesday. JMP Securities increased their target price on Charles Schwab from $77.00 to $80.00 and gave the stock a “market outperform” rating in a research note on Tuesday, April 9th. Finally, JPMorgan Chase & Co. increased their target price on Charles Schwab from $86.00 to $89.00 and gave the stock an “overweight” rating in a research note on Tuesday. Three analysts have rated the stock with a sell rating, six have issued a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $74.47.

Insider Activity

In other news, CFO Peter B. Crawford sold 4,000 shares of the firm’s stock in a transaction on Monday, January 22nd. The stock was sold at an average price of $64.49, for a total transaction of $257,960.00. Following the transaction, the chief financial officer now owns 37,611 shares in the company, valued at $2,425,533.39. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, Chairman Charles R. Schwab sold 16,390 shares of the firm’s stock in a transaction dated Wednesday, January 24th. The stock was sold at an average price of $63.94, for a total transaction of $1,047,976.60. Following the sale, the chairman now owns 61,331,688 shares of the company’s stock, valued at $3,921,548,130.72. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Peter B. Crawford sold 4,000 shares of the firm’s stock in a transaction dated Monday, January 22nd. The shares were sold at an average price of $64.49, for a total value of $257,960.00. Following the sale, the chief financial officer now directly owns 37,611 shares in the company, valued at approximately $2,425,533.39. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 312,800 shares of company stock worth $21,081,569. Company insiders own 6.60% of the company’s stock.

Institutional Investors Weigh In On Charles Schwab

A number of institutional investors have recently added to or reduced their stakes in the stock. Signet Financial Management LLC boosted its holdings in Charles Schwab by 0.3% in the fourth quarter. Signet Financial Management LLC now owns 49,378 shares of the financial services provider’s stock worth $4,111,000 after acquiring an additional 139 shares in the last quarter. Ironwood Financial llc boosted its holdings in Charles Schwab by 1.6% in the first quarter. Ironwood Financial llc now owns 10,186 shares of the financial services provider’s stock worth $737,000 after acquiring an additional 160 shares in the last quarter. Courier Capital LLC boosted its holdings in Charles Schwab by 0.4% in the fourth quarter. Courier Capital LLC now owns 45,539 shares of the financial services provider’s stock worth $3,133,000 after acquiring an additional 161 shares in the last quarter. Investment Advisory Services Inc. TX ADV boosted its holdings in Charles Schwab by 0.5% in the fourth quarter. Investment Advisory Services Inc. TX ADV now owns 32,642 shares of the financial services provider’s stock worth $2,718,000 after acquiring an additional 164 shares in the last quarter. Finally, Sugarloaf Wealth Management LLC boosted its holdings in Charles Schwab by 60.0% in the fourth quarter. Sugarloaf Wealth Management LLC now owns 440 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 165 shares in the last quarter. Institutional investors own 84.38% of the company’s stock.

Charles Schwab Stock Performance

The company has a debt-to-equity ratio of 0.82, a current ratio of 0.43 and a quick ratio of 0.43. The firm has a market cap of $129.51 billion, a price-to-earnings ratio of 30.51, a P/E/G ratio of 1.10 and a beta of 1.01. The firm has a fifty day simple moving average of $68.38 and a two-hundred day simple moving average of $62.89.

Charles Schwab (NYSE:SCHW) last issued its quarterly earnings results 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. Charles Schwab had a return on equity of 19.86% and a net margin of 26.14%. The business had revenue of $4.46 billion during the quarter, compared to the consensus estimate of $4.49 billion. During the same quarter last year, the company earned $1.07 earnings per share. The company’s quarterly revenue was down 18.9% on a year-over-year basis. On average, analysts expect that The Charles Schwab Co. will post 3.41 EPS for the current year.

Charles Schwab Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, February 23rd. Investors of record on Friday, February 9th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.37%. The ex-dividend date was Thursday, February 8th. Charles Schwab’s dividend payout ratio (DPR) is 41.84%.

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.