Charles Schwab (NYSE:SCHW) had its target price dropped by equities research analysts at Deutsche Bank from $54.00 to $53.00 in a research note issued to investors on Friday. The brokerage currently has a “buy” rating on the financial services provider’s stock. Deutsche Bank’s target price indicates a potential upside of 16.89% from the stock’s previous close.
Several other equities research analysts have also recently commented on the company. UBS Group cut Charles Schwab from a “neutral” rating to a “sell” rating and dropped their target price for the stock from $48.00 to $42.00 in a report on Wednesday, February 20th. Morgan Stanley reissued an “overweight” rating on shares of Charles Schwab in a report on Thursday, November 15th. Raymond James boosted their target price on Charles Schwab from $51.00 to $54.00 and gave the stock an “outperform” rating in a report on Wednesday, January 16th. ValuEngine raised Charles Schwab from a “sell” rating to a “hold” rating in a report on Wednesday, January 16th. Finally, Credit Suisse Group boosted their target price on Charles Schwab from $50.00 to $54.00 and gave the stock an “outperform” rating in a report on Thursday, January 17th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and nine have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $53.15.
Shares of SCHW traded up $0.04 during mid-day trading on Friday, reaching $45.34. 184,210 shares of the company’s stock traded hands, compared to its average volume of 6,559,009. The stock has a market cap of $60.38 billion, a PE ratio of 18.48, a price-to-earnings-growth ratio of 1.02 and a beta of 1.34. The company has a current ratio of 1.08, a quick ratio of 0.83 and a debt-to-equity ratio of 0.38. Charles Schwab has a 12 month low of $37.83 and a 12 month high of $60.22.
Charles Schwab declared that its board has initiated a stock buyback program on Wednesday, January 30th that allows the company to repurchase $4.00 billion in outstanding shares. This repurchase authorization allows the financial services provider to reacquire up to 6.3% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s board believes its stock is undervalued.
In other Charles Schwab news, EVP Terri R. Kallsen sold 16,346 shares of Charles Schwab stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $45.93, for a total transaction of $750,771.78. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Walter W. Bettinger acquired 93,090 shares of the stock in a transaction on Monday, December 24th. The shares were purchased at an average price of $39.09 per share, for a total transaction of $3,638,888.10. Following the completion of the transaction, the chief executive officer now owns 335,093 shares in the company, valued at approximately $13,098,785.37. The disclosure for this purchase can be found here. In the last 90 days, insiders sold 356,416 shares of company stock worth $16,652,483. 11.50% of the stock is currently owned by company insiders.
Several large investors have recently modified their holdings of the business. Cambridge Investment Research Advisors Inc. lifted its stake in shares of Charles Schwab by 9.9% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 37,242 shares of the financial services provider’s stock valued at $1,830,000 after purchasing an additional 3,341 shares during the last quarter. WINTON GROUP Ltd lifted its position in Charles Schwab by 13.1% during the 3rd quarter. WINTON GROUP Ltd now owns 10,031 shares of the financial services provider’s stock worth $493,000 after acquiring an additional 1,159 shares during the last quarter. Dupont Capital Management Corp lifted its position in Charles Schwab by 5.4% during the 3rd quarter. Dupont Capital Management Corp now owns 22,288 shares of the financial services provider’s stock worth $1,095,000 after acquiring an additional 1,149 shares during the last quarter. Nomura Asset Management Co. Ltd. lifted its position in Charles Schwab by 10.0% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 185,771 shares of the financial services provider’s stock worth $9,131,000 after acquiring an additional 16,860 shares during the last quarter. Finally, MML Investors Services LLC lifted its position in Charles Schwab by 89.3% during the 3rd quarter. MML Investors Services LLC now owns 28,060 shares of the financial services provider’s stock worth $1,379,000 after acquiring an additional 13,238 shares during the last quarter. 78.42% of the stock is owned by institutional investors.
Charles Schwab Company Profile
The Charles Schwab Corporation, through its subsidiaries, provides wealth management, securities brokerage, banking, asset management, custody, and financial advisory services. The company operates through two segments, Investor Services and Advisor Services. The Investor Services segment provides retail brokerage and banking services, retirement plan services, and other corporate brokerage services; equity compensation plan sponsors full-service recordkeeping for stock plans, stock options, restricted stock, performance shares, and stock appreciation rights; and retail investor, retirement plan, and mutual fund clearing services.
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