Charles Schwab (NYSE:SCHW) Rating Increased to Neutral at UBS Group

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UBS Group upgraded shares of Charles Schwab (NYSE:SCHW) from a sell rating to a neutral rating in a report published on Monday morning, BenzingaRatingsTable reports. They currently have $50.00 price objective on the financial services provider’s stock, up from their previous price objective of $35.00.

A number of other brokerages have also issued reports on SCHW. JPMorgan Chase & Co. dropped their price target on shares of Charles Schwab from $48.00 to $44.00 and set an overweight rating for the company in a research note on Wednesday, October 2nd. ValuEngine upgraded shares of Charles Schwab from a sell rating to a hold rating in a research note on Wednesday, September 4th. Wolfe Research raised shares of Charles Schwab from a peer perform rating to an outperform rating and boosted their target price for the stock from $42.00 to $46.00 in a research report on Tuesday, September 3rd. Sandler O’Neill set a $45.00 target price on shares of Charles Schwab and gave the company a buy rating in a research note on Tuesday, October 15th. Finally, Citigroup lifted their price target on Charles Schwab from $37.00 to $40.00 and gave the stock a neutral rating in a research note on Wednesday, October 16th. Ten equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The company has a consensus rating of Hold and an average price target of $46.47.

SCHW traded up $0.21 on Monday, reaching $48.95. The company’s stock had a trading volume of 14,558,577 shares, compared to its average volume of 8,408,908. Charles Schwab has a 1 year low of $34.58 and a 1 year high of $50.97. The business’s 50 day moving average is $44.18 and its 200 day moving average is $41.36. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.30 and a quick ratio of 0.30. The stock has a market cap of $63.62 billion, a price-to-earnings ratio of 19.98, a price-to-earnings-growth ratio of 3.11 and a beta of 1.40.

Charles Schwab (NYSE:SCHW) last posted its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.65 by $0.05. The company had revenue of $2.71 billion for the quarter, compared to the consensus estimate of $2.65 billion. Charles Schwab had a return on equity of 20.81% and a net margin of 35.12%. Charles Schwab’s revenue for the quarter was up 5.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.65 EPS. As a group, research analysts forecast that Charles Schwab will post 2.73 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Friday, November 8th were issued a dividend of $0.17 per share. The ex-dividend date was Thursday, November 7th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.39%. Charles Schwab’s dividend payout ratio (DPR) is 27.76%.

In related news, EVP Peter J. Morgan III sold 2,500 shares of the stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $49.02, for a total transaction of $122,550.00. Following the sale, the executive vice president now owns 14,180 shares in the company, valued at $695,103.60. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Peter J. Morgan III sold 624 shares of the firm’s stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $49.70, for a total transaction of $31,012.80. Following the completion of the transaction, the executive vice president now directly owns 13,556 shares in the company, valued at approximately $673,733.20. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 427,286 shares of company stock worth $20,169,847. Insiders own 10.90% of the company’s stock.

Hedge funds have recently modified their holdings of the business. Venturi Wealth Management LLC acquired a new position in Charles Schwab during the 3rd quarter valued at about $26,000. FNY Investment Advisers LLC boosted its stake in Charles Schwab by 133.3% during the second quarter. FNY Investment Advisers LLC now owns 700 shares of the financial services provider’s stock valued at $28,000 after buying an additional 400 shares in the last quarter. Flagship Harbor Advisors LLC grew its holdings in Charles Schwab by 303.0% during the third quarter. Flagship Harbor Advisors LLC now owns 802 shares of the financial services provider’s stock worth $33,000 after acquiring an additional 603 shares during the period. Gradient Investments LLC raised its holdings in shares of Charles Schwab by 526.2% in the 3rd quarter. Gradient Investments LLC now owns 814 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 684 shares in the last quarter. Finally, Thor Advisors LLC acquired a new stake in shares of Charles Schwab during the 3rd quarter valued at $34,000. Institutional investors own 78.85% of the company’s stock.

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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