Charles Schwab (NYSE:SCHW) Price Target Raised to $65.00 at Piper Sandler

Charles Schwab (NYSE:SCHW) had its target price hoisted by Piper Sandler from $64.00 to $65.00 in a research report report published on Wednesday, Benzinga reports. Piper Sandler currently has a neutral rating on the financial services provider’s stock.

Several other research firms have also weighed in on SCHW. JPMorgan Chase & Co. decreased their price target on Charles Schwab from $82.00 to $78.00 and set an “overweight” rating on the stock in a report on Wednesday, July 17th. Cowen lifted their price target on shares of Charles Schwab from $69.00 to $75.00 and gave the stock a “hold” rating in a research note on Tuesday. Bank of America reduced their price objective on shares of Charles Schwab from $72.00 to $66.00 and set an “underperform” rating on the stock in a research report on Wednesday, July 17th. The Goldman Sachs Group boosted their target price on Charles Schwab from $67.00 to $74.00 and gave the company a “neutral” rating in a research report on Wednesday. Finally, JMP Securities increased their price target on Charles Schwab from $82.00 to $84.00 and gave the stock a “market outperform” rating in a report on Wednesday. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $73.59.

Charles Schwab Price Performance

Charles Schwab stock opened at $72.08 on Wednesday. Charles Schwab has a 52-week low of $48.66 and a 52-week high of $79.49. The company has a market cap of $128.11 billion, a price-to-earnings ratio of 30.16, a PEG ratio of 1.43 and a beta of 0.97. The firm’s fifty day moving average is $64.61 and its 200 day moving average is $69.51. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 0.65.

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 firm had revenue of $4.85 billion for the quarter, compared to analysts’ expectations of $4.78 billion. Charles Schwab had a net margin of 26.30% and a return on equity of 18.14%. The business’s revenue was up 5.2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.77 EPS. Sell-side analysts forecast that Charles Schwab will post 3.06 EPS for the current fiscal year.

Charles Schwab Dividend Announcement

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

Insider Activity

In related news, insider Paul V. Woolway sold 1,150 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $65.20, for a total transaction of $74,980.00. Following the completion of the transaction, the insider now owns 61,887 shares in the company, valued at $4,035,032.40. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, insider Paul V. Woolway sold 1,150 shares of the company’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $65.20, for a total transaction of $74,980.00. Following the transaction, the insider now owns 61,887 shares in the company, valued at $4,035,032.40. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Chairman Charles R. Schwab sold 67,386 shares of Charles Schwab stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $65.11, for a total transaction of $4,387,502.46. Following the completion of the sale, the chairman now owns 60,619,371 shares of the company’s stock, valued at $3,946,927,245.81. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 98,856 shares of company stock worth $6,398,604. Corporate insiders own 6.60% of the company’s stock.

Institutional Investors Weigh In On Charles Schwab

Large investors have recently bought and sold shares of the company. Nelson Capital Management LLC increased its stake in shares of Charles Schwab by 0.4% in the first quarter. Nelson Capital Management LLC now owns 37,726 shares of the financial services provider’s stock worth $2,729,000 after acquiring an additional 141 shares during the period. Abbrea Capital LLC boosted its stake in shares of Charles Schwab by 2.5% in the first quarter. Abbrea Capital LLC now owns 5,777 shares of the financial services provider’s stock worth $418,000 after buying an additional 142 shares during the last quarter. Alliance Wealth Advisors LLC grew its holdings in Charles Schwab by 2.7% during the third quarter. Alliance Wealth Advisors LLC now owns 5,358 shares of the financial services provider’s stock worth $347,000 after acquiring an additional 142 shares during the period. Ironwood Financial llc raised its position in Charles Schwab by 1.6% during the first quarter. Ironwood Financial llc now owns 10,186 shares of the financial services provider’s stock valued at $737,000 after acquiring an additional 160 shares in the last quarter. Finally, Ascent Wealth Partners LLC lifted its holdings in Charles Schwab by 0.7% in the second quarter. Ascent Wealth Partners LLC now owns 23,361 shares of the financial services provider’s stock valued at $1,721,000 after acquiring an additional 164 shares during the period. 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.