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

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

SCHW has been the topic of a number of other reports. Cowen raised their price objective on shares of Charles Schwab from $69.00 to $75.00 and gave the company a “hold” rating in a research note on Tuesday, October 15th. StockNews.com raised Charles Schwab from a “sell” rating to a “hold” rating in a research note on Wednesday, October 16th. Piper Sandler increased their target price on Charles Schwab from $65.00 to $70.00 and gave the company a “neutral” rating in a research note on Tuesday. Wells Fargo & Company boosted their target price on Charles Schwab from $75.00 to $90.00 and gave the stock an “equal weight” rating in a research report on Thursday, December 12th. Finally, Jefferies Financial Group increased their price target on shares of Charles Schwab from $84.00 to $94.00 and gave the company a “buy” rating in a research report on Monday, December 9th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $81.19.

Charles Schwab Stock Performance

NYSE:SCHW opened at $72.93 on Monday. The firm has a 50 day moving average of $77.49 and a 200-day moving average of $70.63. Charles Schwab has a 1 year low of $59.67 and a 1 year high of $83.35. The stock has a market capitalization of $129.79 billion, a P/E ratio of 28.49, a price-to-earnings-growth ratio of 1.76 and a beta of 0.99. 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 issued its quarterly earnings results 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 net margin of 27.47% and a return on equity of 16.92%. The business had revenue of $4.85 billion for the quarter, compared to the consensus estimate of $4.78 billion. During the same quarter in the prior year, the company earned $0.77 EPS. The firm’s quarterly revenue was up 5.2% on a year-over-year basis. As a group, sell-side analysts anticipate that Charles Schwab will post 3.12 EPS for the current fiscal year.

Insider Transactions at Charles Schwab

In other Charles Schwab news, Director Carolyn Schwab-Pomerantz sold 29,800 shares of the business’s stock in a transaction dated 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 completion of the sale, the director now owns 551,329 shares of the company’s stock, valued at $39,783,900.64. The trade was a 5.13 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Chairman Charles R. Schwab sold 62,345 shares of the business’s stock in a transaction that occurred on Wednesday, October 16th. The shares were 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 approximately $4,396,116,784.92. This trade represents a 0.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 118,968 shares of company stock worth $8,842,821. Company insiders own 6.60% of the company’s stock.

Institutional Investors Weigh In On Charles Schwab

Several institutional investors and hedge funds have recently added to or reduced their stakes in SCHW. Acadian Asset Management LLC lifted its holdings in Charles Schwab by 1,987.5% in the second quarter. Acadian Asset Management LLC now owns 40,185 shares of the financial services provider’s stock valued at $2,960,000 after buying an additional 38,260 shares during the period. Coldstream Capital Management Inc. grew its stake in 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 worth $1,372,000 after purchasing an additional 1,352 shares during the period. LPL Financial LLC increased its holdings in 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 purchasing an additional 91,267 shares in the last quarter. Y.D. More Investments Ltd bought a new position in shares of Charles Schwab during the 2nd quarter worth approximately $58,000. Finally, BOKF NA grew its position in shares of Charles Schwab by 23.2% during the 2nd quarter. BOKF NA now owns 24,721 shares of the financial services provider’s stock worth $1,822,000 after buying an additional 4,652 shares during the period. 84.38% of the stock is currently owned by 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.