Charles Schwab (NYSE:SCHW) Hits New 1-Year High on Analyst Upgrade

Shares of The Charles Schwab Co. (NYSE:SCHW) reached a new 52-week high during trading on Wednesday after Truist Financial raised their price target on the stock from $90.00 to $91.00. Truist Financial currently has a buy rating on the stock. Charles Schwab traded as high as $84.50 and last traded at $83.51, with a volume of 59325916 shares changing hands. The stock had previously closed at $81.17.

Other analysts also recently issued reports about the company. Citigroup raised their price objective on Charles Schwab from $80.00 to $85.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 22nd. The Goldman Sachs Group boosted their price target on shares of Charles Schwab from $67.00 to $74.00 and gave the company a “neutral” rating in a research note on Wednesday, October 16th. Morgan Stanley increased their price objective on shares of Charles Schwab from $84.00 to $91.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 6th. Barclays lifted their target price on shares of Charles Schwab from $95.00 to $96.00 and gave the company an “overweight” rating in a report on Wednesday, January 22nd. Finally, JPMorgan Chase & Co. raised their price target on Charles Schwab from $87.00 to $93.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 7th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $84.56.

Insiders Place Their Bets

In other Charles Schwab news, Director Arun Sarin sold 8,548 shares of Charles Schwab stock in a transaction that occurred on Thursday, January 23rd. The stock was sold at an average price of $81.82, for a total value of $699,397.36. Following the transaction, the director now directly owns 18,617 shares in the company, valued at approximately $1,523,242.94. This trade represents a 31.47 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Christopher V. Dodds sold 9,284 shares of the business’s stock in a transaction 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 completion of the transaction, the director now directly owns 442,807 shares in the company, valued at $36,057,774.01. This represents a 2.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 47,514 shares of company stock valued at $3,859,731. 6.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Charles Schwab

A number of hedge funds have recently added to or reduced their stakes in SCHW. Washington Trust Advisors Inc. grew its holdings in Charles Schwab by 62.6% in the third quarter. Washington Trust Advisors Inc. now owns 387 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 149 shares during the last quarter. Capital Performance Advisors LLP acquired a new stake in shares of Charles Schwab in the third quarter valued at approximately $25,000. Prospera Private Wealth LLC purchased a new position in shares of Charles Schwab during the 3rd quarter worth approximately $31,000. Hazlett Burt & Watson Inc. acquired a new position in shares of Charles Schwab during the 3rd quarter worth approximately $33,000. Finally, Planning Capital Management Corp purchased a new stake in Charles Schwab in the 3rd quarter valued at approximately $33,000. Institutional investors and hedge funds own 84.38% of the company’s stock.

Charles Schwab Trading Up 2.9 %

The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.47 and a current ratio of 0.47. The business has a fifty day simple moving average of $77.99 and a 200 day simple moving average of $71.99. The stock has a market cap of $148.61 billion, a price-to-earnings ratio of 27.93, a PEG ratio of 1.02 and a beta of 0.99.

Charles Schwab (NYSE:SCHW) last posted its quarterly earnings data on Tuesday, January 21st. The financial services provider reported $1.01 EPS for the quarter, beating analysts’ consensus estimates of $0.90 by $0.11. The business had revenue of $5.33 billion for the quarter, compared to analyst estimates of $5.19 billion. Charles Schwab had a return on equity of 18.20% and a net margin of 30.31%. The business’s revenue for the quarter was up 19.5% compared to the same quarter last year. During the same quarter last year, the company earned $0.68 earnings per share. As a group, equities analysts anticipate that The Charles Schwab Co. will post 4.18 EPS for the current year.

Charles Schwab Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Friday, February 14th will be paid a dividend of $0.27 per share. This is an increase from Charles Schwab’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Friday, February 14th. This represents a $1.08 annualized dividend and a dividend yield of 1.29%. Charles Schwab’s dividend payout ratio is presently 33.44%.

Charles Schwab Company Profile

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.