Barclays lowered shares of Charles Schwab (NYSE:SCHW) from an overweight rating to an underweight rating in a research report report published on Wednesday morning, BenzingaRatingsTable reports. The brokerage currently has $34.00 price objective on the financial services provider’s stock, down from their previous price objective of $48.00.
Several other equities research analysts also recently weighed in on SCHW. Citigroup increased their target price on shares of Charles Schwab from $43.00 to $44.00 and gave the company a neutral rating in a research note on Thursday, September 19th. Credit Suisse Group reduced their target price on shares of Charles Schwab from $55.00 to $49.00 and set an outperform rating on the stock in a research note on Tuesday. Wells Fargo & Co raised shares of Charles Schwab from a market perform rating to an outperform rating and set a $50.00 target price on the stock in a research note on Monday, July 22nd. Argus reissued a buy rating and issued a $52.00 target price (down previously from $57.00) on shares of Charles Schwab in a research note on Wednesday, July 17th. Finally, Deutsche Bank reduced their target price on shares of Charles Schwab from $37.00 to $36.00 and set a hold rating on the stock in a research note on Wednesday, August 21st. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and eight have assigned a buy rating to the company. The company currently has an average rating of Hold and an average price target of $44.34.
Shares of SCHW traded up $0.57 during midday trading on Wednesday, hitting $35.67. The stock had a trading volume of 14,136,381 shares, compared to its average volume of 8,072,747. Charles Schwab has a 1 year low of $34.92 and a 1 year high of $52.35. The firm has a market cap of $46.63 billion, a PE ratio of 14.56, a price-to-earnings-growth ratio of 2.49 and a beta of 1.32. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.31 and a quick ratio of 0.31. The stock’s 50 day moving average is $39.58 and its 200 day moving average is $41.92.
In other Charles Schwab news, Director Stephen T. Mclin sold 5,093 shares of the stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $37.56, for a total transaction of $191,293.08. Following the transaction, the director now directly owns 7,297 shares in the company, valued at approximately $274,075.32. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Chairman Charles R. Schwab sold 105,422 shares of the stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $42.03, for a total transaction of $4,430,886.66. The disclosure for this sale can be found here. Insiders sold a total of 219,677 shares of company stock worth $8,997,842 in the last ninety days. 10.90% of the stock is currently owned by insiders.
Institutional investors have recently modified their holdings of the business. FNY Investment Advisers LLC grew its holdings in Charles Schwab by 133.3% during the 2nd quarter. FNY Investment Advisers LLC now owns 700 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 400 shares in the last quarter. Glassman Wealth Services grew its holdings in Charles Schwab by 51.0% during the 2nd quarter. Glassman Wealth Services now owns 1,098 shares of the financial services provider’s stock worth $44,000 after acquiring an additional 371 shares in the last quarter. First PREMIER Bank bought a new position in Charles Schwab during the 2nd quarter worth about $49,000. Mosaic Family Wealth LLC grew its holdings in Charles Schwab by 44.4% during the 1st quarter. Mosaic Family Wealth LLC now owns 1,300 shares of the financial services provider’s stock worth $56,000 after acquiring an additional 400 shares in the last quarter. Finally, Mirova bought a new position in Charles Schwab during the 2nd quarter worth about $53,000. Institutional investors own 79.03% of the company’s stock.
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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