Charles Schwab (NYSE:SCHW) Price Target Raised to $91.00 at UBS Group

Charles Schwab (NYSE:SCHW) had its target price increased by UBS Group from $87.00 to $91.00 in a research note issued to investors on Thursday morning, Benzinga reports. The brokerage currently has a buy rating on the financial services provider’s stock.

A number of other research firms have also recently commented on SCHW. JMP Securities reiterated a market outperform rating and set a $80.00 price target on shares of Charles Schwab in a report on Tuesday, April 16th. Piper Sandler raised their price objective on shares of Charles Schwab from $75.00 to $78.00 and gave the stock an overweight rating in a research report on Friday, April 12th. JPMorgan Chase & Co. raised their price objective on shares of Charles Schwab from $86.00 to $89.00 and gave the stock an overweight rating in a research report on Tuesday, April 16th. Keefe, Bruyette & Woods raised their price objective on shares of Charles Schwab from $75.00 to $76.00 and gave the stock a market perform rating in a research report on Tuesday, April 16th. Finally, Citigroup raised their price objective on shares of Charles Schwab from $70.00 to $75.00 and gave the stock a neutral rating in a research report on Thursday, April 11th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have given a buy rating to the company. According to MarketBeat, Charles Schwab presently has an average rating of Hold and a consensus price target of $75.12.

Charles Schwab Price Performance

Shares of NYSE SCHW opened at $72.34 on Thursday. The company has a fifty day moving average price of $73.50 and a 200 day moving average price of $67.05. Charles Schwab has a 1-year low of $48.66 and a 1-year high of $79.49. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 0.69. The firm has a market cap of $128.57 billion, a PE ratio of 30.27, a PEG ratio of 1.10 and a beta of 0.98.

Charles Schwab (NYSE:SCHW) last posted its quarterly earnings data on Monday, April 15th. The financial services provider reported $0.74 EPS for the quarter, topping analysts’ consensus estimates of $0.73 by $0.01. Charles Schwab had a net margin of 26.14% and a return on equity of 19.25%. The company had revenue of $4.74 billion during the quarter, compared to the consensus estimate of $4.71 billion. Research analysts predict that Charles Schwab will post 3.4 earnings per share for the current fiscal year.

Charles Schwab Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, May 24th. Shareholders of record on Friday, May 10th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.38%. The ex-dividend date is Thursday, May 9th. Charles Schwab’s dividend payout ratio is presently 41.84%.

Insider Activity

In other news, Chairman Charles R. Schwab sold 89,275 shares of the firm’s stock in a transaction on Monday, April 22nd. The shares were sold at an average price of $74.62, for a total transaction of $6,661,700.50. Following the sale, the chairman now owns 30,641,981 shares in the company, valued at approximately $2,286,504,622.22. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, Chairman Charles R. Schwab sold 89,275 shares of Charles Schwab stock in a transaction on Monday, April 22nd. The shares were sold at an average price of $74.62, for a total value of $6,661,700.50. Following the transaction, the chairman now owns 30,641,981 shares in the company, valued at approximately $2,286,504,622.22. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Jonathan M. Craig sold 4,977 shares of the firm’s stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $70.01, for a total transaction of $348,439.77. Following the completion of the sale, the insider now directly owns 81,446 shares in the company, valued at approximately $5,702,034.46. The disclosure for this sale can be found here. In the last quarter, insiders have sold 622,536 shares of company stock worth $46,208,155. 6.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Charles Schwab

Large investors have recently added to or reduced their stakes in the company. Investment Research & Advisory Group Inc. grew its holdings in Charles Schwab by 1.0% in the 4th quarter. Investment Research & Advisory Group Inc. now owns 58,979 shares of the financial services provider’s stock worth $4,058,000 after acquiring an additional 607 shares during the last quarter. Brown Advisory Inc. boosted its stake in shares of Charles Schwab by 24.3% during the 4th quarter. Brown Advisory Inc. now owns 4,393,223 shares of the financial services provider’s stock valued at $302,254,000 after purchasing an additional 857,734 shares in the last quarter. Bamco Inc. NY boosted its stake in shares of Charles Schwab by 0.5% during the 3rd quarter. Bamco Inc. NY now owns 8,102,475 shares of the financial services provider’s stock valued at $444,826,000 after purchasing an additional 42,588 shares in the last quarter. Retirement Systems of Alabama boosted its stake in shares of Charles Schwab by 13.0% during the 4th quarter. Retirement Systems of Alabama now owns 1,329,388 shares of the financial services provider’s stock valued at $91,462,000 after purchasing an additional 152,967 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its stake in shares of Charles Schwab by 22.2% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 883,379 shares of the financial services provider’s stock valued at $60,776,000 after purchasing an additional 160,719 shares in the last quarter. 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.