Charles Schwab (NYSE:SCHW) Given New $76.00 Price Target at Keefe, Bruyette & Woods

Charles Schwab (NYSE:SCHW) had its price objective trimmed by Keefe, Bruyette & Woods from $80.00 to $76.00 in a report released on Tuesday morning. The brokerage currently has an overweight rating on the financial services provider’s stock.

Several other equities analysts have also commented on SCHW. JMP Securities dropped their target price on Charles Schwab from $85.00 to $82.00 and set a market outperform rating on the stock in a report on Tuesday, July 23rd. JPMorgan Chase & Co. decreased their price objective on shares of Charles Schwab from $82.00 to $78.00 and set an overweight rating for the company in a research note on Wednesday, July 17th. TD Cowen restated a hold rating and issued a $71.00 price objective (down previously from $88.00) on shares of Charles Schwab in a research note on Wednesday, July 17th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Charles Schwab from $79.00 to $80.00 and gave the company a buy rating in a research note on Thursday, August 15th. Finally, Piper Sandler downgraded shares of Charles Schwab from an overweight rating to a neutral rating and decreased their price objective for the company from $80.00 to $64.00 in a research note on Monday, July 29th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, Charles Schwab presently has a consensus rating of Hold and an average target price of $71.82.

Charles Schwab Stock Performance

NYSE:SCHW opened at $71.96 on Tuesday. The firm has a market capitalization of $127.98 billion, a PE ratio of 29.86, a price-to-earnings-growth ratio of 1.43 and a beta of 0.97. The business’s fifty day moving average price is $64.42 and its 200 day moving average price is $69.49. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.42 and a quick ratio of 0.42. Charles Schwab has a 12 month low of $48.66 and a 12 month high of $79.49.

Charles Schwab (NYSE:SCHW) last posted its earnings results on Tuesday, October 15th. The financial services provider reported $0.77 EPS for the quarter, beating the consensus estimate of $0.75 by $0.02. The firm had revenue of $4.85 billion for the quarter, compared to analyst estimates of $4.78 billion. Charles Schwab had a return on equity of 18.14% and a net margin of 26.30%. Charles Schwab’s revenue for the quarter was up 5.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.77 earnings per share. On average, sell-side analysts anticipate that Charles Schwab will post 3.06 earnings per share for the current fiscal year.

Charles Schwab Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Friday, August 9th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.39%. The ex-dividend date was Friday, August 9th. Charles Schwab’s dividend payout ratio (DPR) is presently 41.49%.

Insider Transactions at Charles Schwab

In other news, insider Paul V. Woolway sold 1,150 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $65.20, for a total transaction of $74,980.00. Following the completion of the sale, the insider now owns 61,887 shares in the company, valued at $4,035,032.40. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Charles Schwab news, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the stock in a transaction on Friday, July 19th. The stock was sold at an average price of $61.96, for a total value of $557,640.00. Following the completion of the transaction, the director now owns 567,057 shares in the company, valued at approximately $35,134,851.72. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Paul V. Woolway sold 1,150 shares of the stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $65.20, for a total value of $74,980.00. Following the completion of the transaction, the insider now owns 61,887 shares of the company’s stock, valued at $4,035,032.40. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 98,856 shares of company stock worth $6,398,604 over the last 90 days. 6.60% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. Cabot Wealth Management Inc. raised its position in Charles Schwab by 2.1% in the third quarter. Cabot Wealth Management Inc. now owns 45,376 shares of the financial services provider’s stock worth $2,941,000 after acquiring an additional 915 shares in the last quarter. Swedbank AB grew its holdings in Charles Schwab by 3.7% in the third quarter. Swedbank AB now owns 605,261 shares of the financial services provider’s stock valued at $39,227,000 after purchasing an additional 21,699 shares during the last quarter. Birch Capital Management LLC grew its holdings in Charles Schwab by 3.7% in the third quarter. Birch Capital Management LLC now owns 76,459 shares of the financial services provider’s stock valued at $4,955,000 after purchasing an additional 2,761 shares during the last quarter. Creative Planning grew its holdings in Charles Schwab by 18.3% in the third quarter. Creative Planning now owns 511,376 shares of the financial services provider’s stock valued at $31,891,000 after purchasing an additional 79,166 shares during the last quarter. Finally, Harrington Investments INC grew its holdings in Charles Schwab by 3.6% in the third quarter. Harrington Investments INC now owns 56,527 shares of the financial services provider’s stock valued at $3,664,000 after purchasing an additional 1,940 shares during the last quarter. Hedge funds and other institutional investors 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.