JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Charles Schwab (NYSE:SCHW) Stock

Charles Schwab (NYSE:SCHW) had its target price hoisted by analysts at JPMorgan Chase & Co. from $87.00 to $93.00 in a report issued on Tuesday,Benzinga reports. The brokerage currently has an “overweight” rating on the financial services provider’s stock. JPMorgan Chase & Co.‘s price target suggests a potential upside of 27.45% from the company’s previous close.

Several other analysts also recently issued reports on the company. Wells Fargo & Company upped their price target on Charles Schwab from $75.00 to $90.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 12th. Deutsche Bank Aktiengesellschaft raised their target price on Charles Schwab from $77.00 to $80.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. Jefferies Financial Group upped their price objective on shares of Charles Schwab from $84.00 to $94.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. Citigroup cut their price objective on Charles Schwab from $75.00 to $72.00 and set a “neutral” rating for the company in a research report on Friday, September 27th. Finally, Morgan Stanley upped their target price on shares of Charles Schwab from $68.00 to $74.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, Charles Schwab has an average rating of “Hold” and a consensus price target of $81.19.

Charles Schwab Price Performance

SCHW traded down $1.51 on Tuesday, reaching $72.97. The company had a trading volume of 6,562,868 shares, compared to its average volume of 6,045,160. Charles Schwab has a one year low of $59.67 and a one year high of $83.35. The company has a market capitalization of $129.86 billion, a P/E ratio of 28.50, a PEG ratio of 1.76 and a beta of 0.99. The company has a fifty day moving average of $77.45 and a 200-day moving average of $70.62. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 0.59.

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

Insider Activity at Charles Schwab

In other Charles Schwab news, Chairman Charles R. Schwab sold 62,345 shares of the company’s stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $72.52, for a total value of $4,521,259.40. Following the completion of the sale, the chairman now owns 60,619,371 shares of the company’s stock, valued at $4,396,116,784.92. This represents a 0.10 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Carolyn Schwab-Pomerantz sold 29,800 shares of the firm’s stock in a transaction on Thursday, October 17th. The shares were sold at an average price of $72.16, for a total value of $2,150,368.00. Following the transaction, the director now directly owns 551,329 shares of the company’s stock, valued at $39,783,900.64. This represents a 5.13 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 118,968 shares of company stock valued at $8,842,821. Corporate insiders own 6.60% of the company’s stock.

Hedge Funds Weigh In On Charles Schwab

Institutional investors and hedge funds have recently made changes to their positions in the business. Spartan Planning & Wealth Management bought a new stake in Charles Schwab during the 4th quarter worth approximately $227,000. Diversified Trust Co grew its holdings in Charles Schwab by 13.3% during the 4th quarter. Diversified Trust Co now owns 8,215 shares of the financial services provider’s stock worth $608,000 after acquiring an additional 962 shares in the last quarter. Canandaigua National Bank & Trust Co. increased its stake in Charles Schwab by 6.7% during the 4th quarter. Canandaigua National Bank & Trust Co. now owns 33,176 shares of the financial services provider’s stock valued at $2,455,000 after purchasing an additional 2,092 shares in the last quarter. Oliver Luxxe Assets LLC raised its holdings in shares of Charles Schwab by 61.9% in the fourth quarter. Oliver Luxxe Assets LLC now owns 60,655 shares of the financial services provider’s stock worth $4,489,000 after buying an additional 23,187 shares during the last quarter. Finally, Iowa State Bank grew its holdings in shares of Charles Schwab by 4.9% during the fourth quarter. Iowa State Bank now owns 29,860 shares of the financial services provider’s stock valued at $2,210,000 after buying an additional 1,384 shares during the last quarter. Hedge funds and other institutional investors 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.