Charles Schwab (NYSE:SCHW) Raised to “Strong-Buy” at Truist Financial

Charles Schwab (NYSE:SCHW) was upgraded by equities research analysts at Truist Financial to a “strong-buy” rating in a note issued to investors on Monday,Zacks.com reports.

Several other brokerages also recently commented on SCHW. Raymond James lowered their target price on shares of Charles Schwab from $76.00 to $73.00 in a report on Tuesday, October 15th. Keefe, Bruyette & Woods upped their target price on Charles Schwab from $81.00 to $93.00 and gave the company an “outperform” rating in a report on Friday, December 20th. Bank of America decreased their price target on Charles Schwab from $63.00 to $61.00 and set an “underperform” rating for the company in a research report on Wednesday, October 16th. The Goldman Sachs Group upped their price objective on Charles Schwab from $67.00 to $74.00 and gave the company a “neutral” rating in a research note on Wednesday, October 16th. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on Charles Schwab from $77.00 to $80.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $81.19.

Charles Schwab Price Performance

Shares of NYSE SCHW opened at $72.93 on Monday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.47 and a current ratio of 0.47. The firm’s 50-day simple moving average is $77.49 and its 200 day simple moving average is $70.63. The stock has a market cap of $129.79 billion, a price-to-earnings ratio of 28.49, a PEG ratio of 1.76 and a beta of 0.99. Charles Schwab has a fifty-two week low of $59.67 and a fifty-two week high of $83.35.

Charles Schwab (NYSE:SCHW) last announced its earnings results on Tuesday, October 15th. The financial services provider reported $0.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.75 by $0.02. The company had revenue of $4.85 billion for the quarter, compared to analysts’ expectations of $4.78 billion. Charles Schwab had a return on equity of 16.92% and a net margin of 27.47%. Charles Schwab’s quarterly revenue was up 5.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.77 earnings per share. As a group, research analysts anticipate that Charles Schwab will post 3.12 earnings per share for the current fiscal year.

Insider Buying and Selling at Charles Schwab

In other news, insider Jonathan S. Beatty sold 2,300 shares of the company’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $82.01, for a total value of $188,623.00. Following the completion of the transaction, the insider now directly owns 18,069 shares in the company, valued at approximately $1,481,838.69. This represents a 11.29 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Nigel J. Murtagh sold 12,739 shares of the firm’s stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $81.17, for a total value of $1,034,024.63. Following the transaction, the insider now directly owns 59,092 shares in the company, valued at approximately $4,796,497.64. This represents a 17.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 118,968 shares of company stock valued at $8,842,821 in the last 90 days. Corporate insiders own 6.60% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Acadian Asset Management LLC raised its position in Charles Schwab by 1,987.5% in the 2nd quarter. Acadian Asset Management LLC now owns 40,185 shares of the financial services provider’s stock worth $2,960,000 after purchasing an additional 38,260 shares during the period. Coldstream Capital Management Inc. grew its stake in shares of Charles Schwab by 7.8% during the second quarter. Coldstream Capital Management Inc. now owns 18,624 shares of the financial services provider’s stock valued at $1,372,000 after buying an additional 1,352 shares during the last quarter. LPL Financial LLC increased its holdings in shares of Charles Schwab by 8.9% in the second quarter. LPL Financial LLC now owns 1,118,318 shares of the financial services provider’s stock worth $82,409,000 after buying an additional 91,267 shares during the period. Y.D. More Investments Ltd bought a new stake in shares of Charles Schwab in the 2nd quarter valued at about $58,000. Finally, BOKF NA boosted its holdings in Charles Schwab by 23.2% during the 2nd quarter. BOKF NA now owns 24,721 shares of the financial services provider’s stock valued at $1,822,000 after acquiring an additional 4,652 shares during the period. 84.38% of the stock is owned by hedge funds and other institutional investors.

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.