Barclays Lowers Charles Schwab (NYSE:SCHW) to Underweight

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.

Charles Schwab (NYSE:SCHW) last announced its earnings results on Tuesday, July 16th. The financial services provider reported $0.66 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.65 by $0.01. Charles Schwab had a net margin of 35.29% and a return on equity of 20.52%. The business had revenue of $2.68 billion for the quarter, compared to the consensus estimate of $2.68 billion. During the same quarter in the prior year, the firm posted $0.60 earnings per share. The business’s revenue for the quarter was up 7.8% on a year-over-year basis. As a group, equities research analysts expect that Charles Schwab will post 2.66 earnings per share for the current fiscal year.

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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Analyst Recommendations for Charles Schwab (NYSE:SCHW)

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