Charles Schwab (SCHW) PT Set at $70.00 by Morgan Stanley

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Charles Schwab (NYSE:SCHW) received a $70.00 price objective from Morgan Stanley in a note issued to investors on Tuesday, September 18th. The brokerage presently has a “buy” rating on the financial services provider’s stock. Morgan Stanley’s price objective points to a potential upside of 42.83% from the company’s previous close.

A number of other research analysts have also recently weighed in on SCHW. Zacks Investment Research raised Charles Schwab from a “hold” rating to a “buy” rating and set a $61.00 price objective on the stock in a research report on Tuesday, June 26th. ValuEngine cut Charles Schwab from a “buy” rating to a “hold” rating in a research report on Wednesday, June 27th. Compass Point assumed coverage on Charles Schwab in a research report on Tuesday, June 5th. They set a “neutral” rating and a $60.00 price objective on the stock. Citigroup lowered their price objective on Charles Schwab from $49.00 to $48.00 and set a “sell” rating on the stock in a research report on Monday, July 23rd. Finally, Wells Fargo & Co lifted their price objective on Charles Schwab from $54.00 to $56.00 and gave the company a “$54.22” rating in a research report on Wednesday, July 18th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and eight have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $58.77.

NYSE SCHW traded up $0.88 during trading hours on Tuesday, hitting $49.01. The company’s stock had a trading volume of 9,664,415 shares, compared to its average volume of 6,506,918. Charles Schwab has a 12 month low of $42.20 and a 12 month high of $60.22. The company has a market capitalization of $66.40 billion, a price-to-earnings ratio of 29.88, a PEG ratio of 1.23 and a beta of 1.55. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.27 and a current ratio of 0.27.

Charles Schwab (NYSE:SCHW) last released its quarterly earnings data on Tuesday, July 17th. The financial services provider reported $0.60 EPS for the quarter, topping the consensus estimate of $0.58 by $0.02. Charles Schwab had a return on equity of 17.96% and a net margin of 30.83%. The company had revenue of $2.49 billion during the quarter, compared to the consensus estimate of $2.46 billion. During the same period last year, the company earned $0.39 EPS. Charles Schwab’s revenue for the quarter was up 16.7% on a year-over-year basis. On average, equities analysts predict that Charles Schwab will post 2.43 earnings per share for the current fiscal year.

In related news, Director Christopher V. Dodds sold 15,718 shares of the business’s stock in a transaction that occurred on Thursday, August 16th. The stock was sold at an average price of $51.14, for a total value of $803,818.52. Following the transaction, the director now directly owns 7,592 shares of the company’s stock, valued at approximately $388,254.88. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Chairman Charles R. Schwab sold 190,500 shares of the company’s stock in a transaction that occurred on Tuesday, July 24th. The stock was sold at an average price of $52.75, for a total value of $10,048,875.00. The disclosure for this sale can be found here. 11.50% of the stock is currently owned by insiders.

Institutional investors and hedge funds have recently modified their holdings of the company. IFG Advisory LLC increased its position in shares of Charles Schwab by 11.3% during the 2nd quarter. IFG Advisory LLC now owns 10,087 shares of the financial services provider’s stock valued at $515,000 after purchasing an additional 1,026 shares during the last quarter. Gibraltar Capital Management Inc. increased its position in shares of Charles Schwab by 0.9% during the 2nd quarter. Gibraltar Capital Management Inc. now owns 113,017 shares of the financial services provider’s stock valued at $5,775,000 after purchasing an additional 1,057 shares during the last quarter. Livingston Group Asset Management CO operating as Southport Capital Management increased its position in shares of Charles Schwab by 11.0% during the 2nd quarter. Livingston Group Asset Management CO operating as Southport Capital Management now owns 10,806 shares of the financial services provider’s stock valued at $552,000 after purchasing an additional 1,068 shares during the last quarter. Bbva Compass Bancshares Inc. increased its position in shares of Charles Schwab by 8.1% during the 2nd quarter. Bbva Compass Bancshares Inc. now owns 14,972 shares of the financial services provider’s stock valued at $765,000 after purchasing an additional 1,121 shares during the last quarter. Finally, CapWealth Advisors LLC increased its position in shares of Charles Schwab by 4.3% during the 2nd quarter. CapWealth Advisors LLC now owns 27,970 shares of the financial services provider’s stock valued at $1,429,000 after purchasing an additional 1,161 shares during the last quarter. 80.30% of the stock is currently owned by institutional investors and hedge funds.

About Charles Schwab

The Charles Schwab Corporation, through its subsidiaries, provides wealth management, securities brokerage, banking, asset management, custody, and financial advisory services. The company operates through two segments, Investor Services and Advisor Services. The Investor Services segment provides retail brokerage and banking services, retirement plan services, and other corporate brokerage services; equity compensation plan sponsors full-service recordkeeping for stock plans, stock options, restricted stock, performance shares, and stock appreciation rights; and retail investor, retirement plan, and mutual fund clearing services.

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Analyst Recommendations for Charles Schwab (NYSE:SCHW)

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