Charles Schwab (NYSE:SCHW) Stock Rating Lowered by Piper Sandler

Charles Schwab (NYSE:SCHW) was downgraded by stock analysts at Piper Sandler from an “overweight” rating to a “neutral” rating in a research report issued to clients and investors on Monday, MarketBeat reports. They presently have a $64.00 target price on the financial services provider’s stock, down from their prior target price of $80.00. Piper Sandler’s target price would suggest a potential downside of 1.40% from the stock’s previous close.

Other equities research analysts have also recently issued research reports about the stock. TD Cowen reaffirmed a “hold” rating and set a $71.00 price objective (down previously from $88.00) on shares of Charles Schwab in a research note on Wednesday, July 17th. Morgan Stanley dropped their price target on shares of Charles Schwab from $73.00 to $71.00 and set an “equal weight” rating on the stock in a research note on Thursday, July 11th. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Charles Schwab from $84.00 to $79.00 and set a “buy” rating on the stock in a research note on Wednesday, July 17th. Keefe, Bruyette & Woods upgraded Charles Schwab from a “market perform” rating to an “outperform” rating and raised their price objective for the company from $76.00 to $84.00 in a report on Monday, July 8th. Finally, Jefferies Financial Group raised their price objective on Charles Schwab from $85.00 to $88.00 and gave the company a “buy” rating in a report on Monday, July 8th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, Charles Schwab has a consensus rating of “Hold” and an average target price of $74.27.

Charles Schwab Stock Performance

SCHW opened at $64.91 on Monday. Charles Schwab has a 12-month low of $48.66 and a 12-month high of $79.49. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 0.69. The firm has a market capitalization of $115.36 billion, a PE ratio of 27.16, a P/E/G ratio of 1.24 and a beta of 0.99. The firm has a 50 day moving average of $71.55 and a two-hundred day moving average of $70.05.

Charles Schwab (NYSE:SCHW) last posted its quarterly earnings results on Tuesday, July 16th. The financial services provider reported $0.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.72 by $0.01. The company had revenue of $4.69 billion during the quarter, compared to analyst estimates of $4.68 billion. Charles Schwab had a net margin of 26.30% and a return on equity of 18.65%. Charles Schwab’s revenue for the quarter was up .7% compared to the same quarter last year. During the same period last year, the firm posted $0.75 EPS. On average, analysts anticipate that Charles Schwab will post 3.09 EPS for the current year.

Insider Activity at Charles Schwab

In other Charles Schwab news, Chairman Charles R. Schwab sold 66,225 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $75.51, for a total value of $5,000,649.75. Following the completion of the sale, the chairman now owns 60,972,476 shares in the company, valued at $4,604,031,662.76. The sale was disclosed in a document filed with the SEC, which is available through this link. In other news, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the company’s stock in a transaction that occurred on Friday, July 19th. The stock was sold at an average price of $61.96, for a total transaction of $557,640.00. Following the completion of the sale, the director now owns 567,057 shares in the company, valued at $35,134,851.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Charles R. Schwab sold 66,225 shares of the stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $75.51, for a total value of $5,000,649.75. Following the completion of the transaction, the chairman now owns 60,972,476 shares of the company’s stock, valued at approximately $4,604,031,662.76. The disclosure for this sale can be found here. Insiders sold 350,178 shares of company stock valued at $26,136,963 over the last three months. 6.60% of the stock is owned by corporate insiders.

Institutional Trading of Charles Schwab

Several large investors have recently bought and sold shares of the company. Nelson Capital Management LLC grew its holdings in 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 valued at $2,729,000 after purchasing an additional 141 shares during the last quarter. Abbrea Capital LLC increased its position in Charles Schwab by 2.5% during the 1st quarter. Abbrea Capital LLC now owns 5,777 shares of the financial services provider’s stock worth $418,000 after purchasing an additional 142 shares in the last quarter. Sweet Financial Partners LLC increased its position in Charles Schwab by 3.5% during the 1st quarter. Sweet Financial Partners LLC now owns 4,430 shares of the financial services provider’s stock worth $320,000 after purchasing an additional 150 shares in the last quarter. Ironwood Financial llc increased its position in Charles Schwab by 1.6% during the 1st quarter. Ironwood Financial llc now owns 10,186 shares of the financial services provider’s stock worth $737,000 after purchasing an additional 160 shares in the last quarter. Finally, Sculati Wealth Management LLC increased its position in Charles Schwab by 0.4% during the 4th quarter. Sculati Wealth Management LLC now owns 42,971 shares of the financial services provider’s stock worth $2,956,000 after purchasing an additional 165 shares in the last quarter. Institutional investors and hedge funds 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.