JMP Securities Reaffirms “Market Outperform” Rating for Charles Schwab (NYSE:SCHW)

JMP Securities reiterated their market outperform rating on shares of Charles Schwab (NYSE:SCHW) in a research note released on Tuesday, Benzinga reports. The brokerage currently has a $80.00 target price on the financial services provider’s stock.

SCHW has been the subject of several other reports. Raymond James decreased their price objective on Charles Schwab from $78.00 to $75.00 and set an outperform rating for the company in a report on Thursday, January 18th. Keefe, Bruyette & Woods upped their price target on Charles Schwab from $75.00 to $76.00 and gave the stock a market perform rating in a research note on Tuesday. JPMorgan Chase & Co. upped their price target on Charles Schwab from $86.00 to $89.00 and gave the stock an overweight rating in a research note on Tuesday. Barclays upped their price target on Charles Schwab from $74.00 to $75.00 and gave the stock an equal weight rating in a research note on Tuesday. Finally, Morgan Stanley upped their price target on Charles Schwab from $65.00 to $71.00 and gave the stock an equal weight rating in a research note on Tuesday, April 9th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, Charles Schwab currently has an average rating of Hold and a consensus price target of $74.47.

Charles Schwab Price Performance

SCHW stock opened at $72.92 on Tuesday. The company has a market capitalization of $129.51 billion, a P/E ratio of 30.51, a PEG ratio of 1.10 and a beta of 1.01. Charles Schwab has a twelve month low of $45.65 and a twelve month high of $73.88. The business has a 50 day simple moving average of $68.38 and a 200-day simple moving average of $62.89. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.82.

Charles Schwab (NYSE:SCHW) last posted its quarterly earnings data on Wednesday, January 17th. The financial services provider reported $0.68 earnings per share for the quarter, beating the consensus estimate of $0.64 by $0.04. The business had revenue of $4.46 billion during the quarter, compared to the consensus estimate of $4.49 billion. Charles Schwab had a return on equity of 19.86% and a net margin of 26.14%. The company’s revenue was down 18.9% compared to the same quarter last year. During the same period in the prior year, the company earned $1.07 earnings per share. As a group, equities analysts anticipate that Charles Schwab will post 3.41 EPS for the current year.

Charles Schwab Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 23rd. Investors of record on Friday, February 9th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.37%. The ex-dividend date was Thursday, February 8th. Charles Schwab’s payout ratio is currently 41.84%.

Insider Activity at Charles Schwab

In related news, Chairman Charles R. Schwab sold 71,226 shares of the stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $64.99, for a total transaction of $4,628,977.74. Following the sale, the chairman now owns 61,251,038 shares of the company’s stock, valued at $3,980,704,959.62. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Charles Schwab news, COO Joseph R. Martinetto sold 43,000 shares of the firm’s stock in a transaction dated Tuesday, April 16th. The stock was sold at an average price of $70.83, for a total value of $3,045,690.00. Following the sale, the chief operating officer now directly owns 41,414 shares of the company’s stock, valued at approximately $2,933,353.62. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Chairman Charles R. Schwab sold 71,226 shares of the firm’s stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $64.99, for a total value of $4,628,977.74. Following the completion of the sale, the chairman now directly owns 61,251,038 shares in the company, valued at $3,980,704,959.62. The disclosure for this sale can be found here. Insiders have sold a total of 312,800 shares of company stock valued at $21,081,569 over the last quarter. Insiders own 6.60% of the company’s stock.

Institutional Trading of Charles Schwab

A number of hedge funds have recently added to or reduced their stakes in the business. Signet Financial Management LLC boosted its stake in Charles Schwab by 0.3% in the 4th quarter. Signet Financial Management LLC now owns 49,378 shares of the financial services provider’s stock worth $4,111,000 after buying an additional 139 shares during the last quarter. Ironwood Financial llc lifted its stake in shares of Charles Schwab by 1.6% in the 1st quarter. Ironwood Financial llc now owns 10,186 shares of the financial services provider’s stock valued at $737,000 after purchasing an additional 160 shares in the last quarter. Courier Capital LLC lifted its stake in shares of Charles Schwab by 0.4% in the 4th quarter. Courier Capital LLC now owns 45,539 shares of the financial services provider’s stock valued at $3,133,000 after purchasing an additional 161 shares in the last quarter. Investment Advisory Services Inc. TX ADV lifted its stake in shares of Charles Schwab by 0.5% in the 4th quarter. Investment Advisory Services Inc. TX ADV now owns 32,642 shares of the financial services provider’s stock valued at $2,718,000 after purchasing an additional 164 shares in the last quarter. Finally, Sugarloaf Wealth Management LLC lifted its stake in shares of Charles Schwab by 60.0% in the 4th quarter. Sugarloaf Wealth Management LLC now owns 440 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 165 shares in the last quarter. 84.38% of the stock is owned by institutional investors and hedge funds.

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.