Deutsche Bank Aktiengesellschaft Cuts Charles Schwab (NYSE:SCHW) Price Target to $83.00

Charles Schwab (NYSE:SCHW) had its price objective cut by Deutsche Bank Aktiengesellschaft from $86.00 to $83.00 in a research note published on Thursday morning, Benzinga reports. They currently have a buy rating on the financial services provider’s stock.

Other research analysts have also issued reports about the stock. JPMorgan Chase & Co. increased their price objective on shares of Charles Schwab from $86.00 to $89.00 and gave the stock an overweight rating in a report on Tuesday, April 16th. Morgan Stanley lifted their price target on shares of Charles Schwab from $65.00 to $71.00 and gave the company an equal weight rating in a report on Tuesday, April 9th. Barclays boosted their price objective on shares of Charles Schwab from $74.00 to $75.00 and gave the company an equal weight rating in a research note on Tuesday, April 16th. Bank of America increased their target price on Charles Schwab from $68.00 to $70.00 and gave the stock an underperform rating in a research report on Tuesday, April 16th. Finally, JMP Securities reissued a market outperform rating and set a $80.00 price target on shares of Charles Schwab in a research report on Tuesday, April 16th. Three research analysts have rated the stock with a sell rating, five have given a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of Hold and a consensus price target of $75.12.

Charles Schwab Stock Down 0.1 %

SCHW stock opened at $72.27 on Thursday. The company has a 50 day moving average price of $73.61 and a two-hundred day moving average price of $67.25. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.42 and a current ratio of 0.42. The stock has a market capitalization of $128.44 billion, a P/E ratio of 30.24, a PEG ratio of 1.06 and a beta of 0.98. Charles Schwab has a one year low of $48.66 and a one year high of $79.49.

Charles Schwab (NYSE:SCHW) last released its earnings results on Monday, April 15th. The financial services provider reported $0.74 EPS for the quarter, beating the consensus estimate of $0.73 by $0.01. Charles Schwab had a return on equity of 19.25% and a net margin of 26.14%. The firm had revenue of $4.74 billion during the quarter, compared to analyst estimates of $4.71 billion. As a group, sell-side analysts expect that Charles Schwab will post 3.31 EPS for the current year.

Charles Schwab Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 24th. Stockholders of record on Friday, May 10th were paid a $0.25 dividend. The ex-dividend date was Thursday, May 9th. This represents a $1.00 annualized dividend and a dividend yield of 1.38%. Charles Schwab’s dividend payout ratio (DPR) is presently 41.84%.

Insider Buying and Selling

In other Charles Schwab news, General Counsel Peter J. Morgan III sold 24,520 shares of the company’s stock in a transaction dated Tuesday, April 16th. The shares were sold at an average price of $72.23, for a total value of $1,771,079.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, General Counsel Peter J. Morgan III sold 24,520 shares of the stock in a transaction dated Tuesday, April 16th. The stock was sold at an average price of $72.23, for a total value of $1,771,079.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Peter B. Crawford sold 5,500 shares of the firm’s stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $65.71, for a total value of $361,405.00. Following the sale, the chief financial officer now owns 24,111 shares of the company’s stock, valued at approximately $1,584,333.81. The disclosure for this sale can be found here. Insiders have sold 622,536 shares of company stock valued at $46,208,155 in the last quarter. Company insiders own 6.60% of the company’s stock.

Institutional Investors Weigh In On Charles Schwab

Institutional investors and hedge funds have recently made changes to their positions in the company. Investment Research & Advisory Group Inc. raised its holdings in shares of Charles Schwab by 1.0% during the fourth quarter. Investment Research & Advisory Group Inc. now owns 58,979 shares of the financial services provider’s stock worth $4,058,000 after purchasing an additional 607 shares during the period. Brown Advisory Inc. grew its position in shares of Charles Schwab by 24.3% during the 4th quarter. Brown Advisory Inc. now owns 4,393,223 shares of the financial services provider’s stock valued at $302,254,000 after buying an additional 857,734 shares during the last quarter. Bamco Inc. NY raised its stake in Charles Schwab by 0.5% during the third quarter. Bamco Inc. NY now owns 8,102,475 shares of the financial services provider’s stock worth $444,826,000 after acquiring an additional 42,588 shares during the period. Retirement Systems of Alabama lifted its holdings in Charles Schwab by 13.0% in the fourth quarter. Retirement Systems of Alabama now owns 1,329,388 shares of the financial services provider’s stock worth $91,462,000 after acquiring an additional 152,967 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its stake in Charles Schwab by 22.2% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 883,379 shares of the financial services provider’s stock valued at $60,776,000 after acquiring an additional 160,719 shares during the period. 84.38% of the stock is owned by institutional investors and hedge funds.

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.