Charles Schwab (NYSE:SCHW) Price Target Increased to $74.00 by Analysts at Barclays

Charles Schwab (NYSE:SCHW) had its price objective upped by Barclays from $64.00 to $74.00 in a research report report published on Wednesday, Benzinga reports. They currently have an equal weight rating on the financial services provider’s stock.

Several other analysts have also recently weighed in on the stock. Jefferies Financial Group decreased their price objective on shares of Charles Schwab from $79.00 to $73.00 and set a “buy” rating on the stock in a research note on Friday, October 4th. Piper Sandler raised their target price on Charles Schwab from $64.00 to $65.00 and gave the company a “neutral” rating in a research note on Wednesday. Wells Fargo & Company upped their price target on shares of Charles Schwab from $70.00 to $75.00 and gave the stock an “equal weight” rating in a research report on Wednesday. TD Cowen reissued a “hold” rating and set a $71.00 price target (down from $88.00) on shares of Charles Schwab in a research note on Wednesday, July 17th. Finally, Bank of America reduced their price objective on Charles Schwab from $63.00 to $61.00 and set an “underperform” rating on the stock in a report on Wednesday. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $73.59.

Charles Schwab Stock Up 0.2 %

NYSE SCHW opened at $72.08 on Wednesday. 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 0.65. The stock’s 50 day moving average is $64.61 and its two-hundred day moving average is $69.51. The company has a market capitalization of $128.11 billion, a price-to-earnings ratio of 30.16, a PEG ratio of 1.43 and a beta of 0.97.

Charles Schwab (NYSE:SCHW) last released its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.75 by $0.02. Charles Schwab had a return on equity of 18.14% and a net margin of 26.30%. The firm had revenue of $4.85 billion during the quarter, compared to analyst estimates of $4.78 billion. During the same period in the prior year, the company posted $0.77 earnings per share. The business’s revenue for the quarter was up 5.2% compared to the same quarter last year. Equities analysts forecast that Charles Schwab will post 3.06 earnings per share for the current fiscal year.

Charles Schwab Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Friday, August 9th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.39%. The ex-dividend date was Friday, August 9th. Charles Schwab’s dividend payout ratio is 41.84%.

Insider Activity at Charles Schwab

In other news, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the business’s stock in a transaction on Friday, July 19th. The shares were sold at an average price of $61.96, for a total value of $557,640.00. Following the sale, the director now owns 567,057 shares of the company’s stock, valued at $35,134,851.72. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, insider Paul V. Woolway sold 1,150 shares of the stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $65.20, for a total value of $74,980.00. Following the sale, the insider now owns 61,887 shares in the company, valued at approximately $4,035,032.40. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the company’s stock in a transaction on Friday, July 19th. The shares were sold at an average price of $61.96, for a total transaction of $557,640.00. Following the completion of the transaction, the director now owns 567,057 shares in the company, valued at approximately $35,134,851.72. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 98,856 shares of company stock valued at $6,398,604. 6.60% of the stock is owned by insiders.

Hedge Funds Weigh In On Charles Schwab

Several institutional investors and hedge funds have recently made changes to their positions in SCHW. M&G Plc bought a new position in Charles Schwab during the first quarter worth about $11,452,000. Teewinot Capital Advisers L.L.C. increased its holdings in shares of Charles Schwab by 9.0% during the second quarter. Teewinot Capital Advisers L.L.C. now owns 775,161 shares of the financial services provider’s stock worth $57,122,000 after purchasing an additional 64,041 shares during the period. Daiwa Securities Group Inc. raised its position in shares of Charles Schwab by 10.4% in the first quarter. Daiwa Securities Group Inc. now owns 190,597 shares of the financial services provider’s stock valued at $13,788,000 after buying an additional 17,925 shares in the last quarter. Wedmont Private Capital boosted its stake in shares of Charles Schwab by 12.2% in the first quarter. Wedmont Private Capital now owns 13,130 shares of the financial services provider’s stock valued at $949,000 after buying an additional 1,430 shares during the period. Finally, Iowa State Bank grew its position in Charles Schwab by 37.9% during the third quarter. Iowa State Bank now owns 28,476 shares of the financial services provider’s stock worth $1,846,000 after buying an additional 7,829 shares in the last quarter. Institutional investors and hedge funds own 84.38% of the company’s stock.

About Charles Schwab

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.