Charles Schwab (NYSE:SCHW) Price Target Cut to $87.00 by Analysts at Wells Fargo & Company

Charles Schwab (NYSE:SCHW) had its price objective decreased by Wells Fargo & Company from $93.00 to $87.00 in a research note published on Tuesday morning,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the financial services provider’s stock.

SCHW has been the subject of several other reports. Truist Financial reduced their target price on Charles Schwab from $91.00 to $85.00 and set a “buy” rating for the company in a research note on Friday, April 4th. Keefe, Bruyette & Woods increased their price objective on shares of Charles Schwab from $81.00 to $93.00 and gave the company an “outperform” rating in a report on Friday, December 20th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Charles Schwab from $98.00 to $105.00 and gave the stock a “buy” rating in a research note on Wednesday, January 22nd. Citigroup raised shares of Charles Schwab from a “neutral” rating to a “buy” rating and raised their price target for the company from $85.00 to $102.00 in a research note on Wednesday, April 2nd. Finally, Jefferies Financial Group boosted their price objective on Charles Schwab from $84.00 to $94.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $85.33.

Charles Schwab Stock Performance

Shares of NYSE SCHW opened at $69.79 on Tuesday. Charles Schwab has a 1 year low of $61.01 and a 1 year high of $84.50. 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 company’s fifty day moving average price is $78.36 and its 200 day moving average price is $75.92. The company has a market capitalization of $126.57 billion, a PE ratio of 23.34, a price-to-earnings-growth ratio of 0.99 and a beta of 0.91.

Charles Schwab (NYSE:SCHW) last posted its earnings results 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 firm had revenue of $5.33 billion for the quarter, compared to analysts’ expectations of $5.19 billion. Charles Schwab had a return on equity of 18.20% and a net margin of 30.31%. The company’s quarterly revenue was up 19.5% on a year-over-year basis. During the same period last year, the firm earned $0.68 EPS. On average, research analysts predict that Charles Schwab will post 4.22 earnings per share for the current year.

Charles Schwab Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 14th were paid a dividend of $0.27 per share. The ex-dividend date was Friday, February 14th. This is an increase from Charles Schwab’s previous quarterly dividend of $0.25. This represents a $1.08 dividend on an annualized basis and a yield of 1.55%. Charles Schwab’s payout ratio is 36.12%.

Insider Activity

In other Charles Schwab news, insider Paul V. Woolway sold 3,380 shares of the company’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $79.32, for a total value of $268,101.60. Following the transaction, the insider now owns 57,818 shares of the company’s stock, valued at $4,586,123.76. This represents a 5.52 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Chairman Walter W. Bettinger sold 464,629 shares of Charles Schwab stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $81.91, for a total transaction of $38,057,761.39. Following the sale, the chairman now owns 827,377 shares of the company’s stock, valued at approximately $67,770,450.07. This represents a 35.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 513,081 shares of company stock valued at $41,903,066 in the last 90 days. Company insiders own 6.60% of the company’s stock.

Hedge Funds Weigh In On Charles Schwab

Hedge funds have recently made changes to their positions in the stock. Murphy & Mullick Capital Management Corp purchased a new position in shares of Charles Schwab during the fourth quarter worth $38,000. Atala Financial Inc acquired a new position in Charles Schwab during the 4th quarter worth about $41,000. Investors Research Corp boosted its holdings in Charles Schwab by 75.2% during the 1st quarter. Investors Research Corp now owns 559 shares of the financial services provider’s stock valued at $44,000 after acquiring an additional 240 shares during the period. Knuff & Co LLC grew its position in Charles Schwab by 1,309.3% in the 4th quarter. Knuff & Co LLC now owns 606 shares of the financial services provider’s stock valued at $45,000 after acquiring an additional 563 shares in the last quarter. Finally, Financial Life Planners purchased a new stake in Charles Schwab during the fourth quarter worth about $46,000. Hedge funds and other institutional investors own 84.38% of the company’s stock.

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.