Charles Schwab (NYSE:SCHW) Price Target Lowered to $80.00 at Citigroup

Charles Schwab (NYSE:SCHW) had its price objective cut by analysts at Citigroup from $85.00 to $80.00 in a research report issued on Friday,Benzinga reports. The firm presently has a “neutral” rating on the financial services provider’s stock. Citigroup’s price objective indicates a potential upside of 10.10% from the company’s previous close.

A number of other equities analysts have also commented on SCHW. Cowen upped their price objective on shares of Charles Schwab from $69.00 to $75.00 and gave the stock a “hold” rating in a research note on Tuesday, October 15th. Bank of America dropped their price objective on shares of Charles Schwab from $63.00 to $61.00 and set an “underperform” rating on the stock in a research note on Wednesday, October 16th. Morgan Stanley upped their target price on Charles Schwab from $68.00 to $74.00 and gave the stock an “equal weight” rating in a report on Thursday, October 24th. StockNews.com upgraded Charles Schwab from a “sell” rating to a “hold” rating in a report on Wednesday, October 16th. Finally, JPMorgan Chase & Co. upped their price objective on Charles Schwab from $87.00 to $93.00 and gave the stock an “overweight” rating in a research note on Tuesday. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Charles Schwab presently has a consensus rating of “Moderate Buy” and an average target price of $81.69.

Charles Schwab Stock Performance

Shares of NYSE:SCHW traded down $0.34 during midday trading on Friday, hitting $72.66. The company had a trading volume of 6,715,779 shares, compared to its average volume of 7,728,385. The company has a market cap of $129.31 billion, a price-to-earnings ratio of 28.38, a PEG ratio of 1.76 and a beta of 0.99. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.47 and a quick ratio of 0.47. The company has a fifty day moving average of $77.53 and a two-hundred day moving average of $70.65. Charles Schwab has a 12-month low of $59.67 and a 12-month high of $83.35.

Charles Schwab (NYSE:SCHW) last announced its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $0.77 EPS for the quarter, topping the consensus estimate of $0.75 by $0.02. Charles Schwab had a net margin of 27.47% and a return on equity of 16.92%. The business had revenue of $4.85 billion for the quarter, compared to analysts’ expectations of $4.78 billion. During the same quarter in the previous year, the company earned $0.77 EPS. The business’s quarterly revenue was up 5.2% compared to the same quarter last year. On average, equities research analysts expect that Charles Schwab will post 3.12 EPS for the current fiscal year.

Insider Buying and Selling

In other Charles Schwab news, insider Jonathan S. Beatty sold 2,300 shares of the stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $82.01, for a total value of $188,623.00. Following the completion of the sale, the insider now owns 18,069 shares of the company’s stock, valued at $1,481,838.69. This trade represents a 11.29 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Charles R. Schwab sold 62,345 shares of Charles Schwab stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $72.52, for a total transaction of $4,521,259.40. Following the sale, the chairman now directly owns 60,619,371 shares in the company, valued at $4,396,116,784.92. This trade represents a 0.10 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 118,968 shares of company stock worth $8,842,821. 6.60% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Acadian Asset Management LLC increased its position in Charles Schwab by 1,987.5% in the second quarter. Acadian Asset Management LLC now owns 40,185 shares of the financial services provider’s stock worth $2,960,000 after buying an additional 38,260 shares during the period. LPL Financial LLC boosted its stake in Charles Schwab by 8.9% during the 2nd quarter. LPL Financial LLC now owns 1,118,318 shares of the financial services provider’s stock valued at $82,409,000 after purchasing an additional 91,267 shares during the period. Y.D. More Investments Ltd bought a new position in Charles Schwab in the 2nd quarter worth about $58,000. BOKF NA increased its stake in shares of Charles Schwab by 23.2% in the second quarter. BOKF NA now owns 24,721 shares of the financial services provider’s stock valued at $1,822,000 after purchasing an additional 4,652 shares during the period. Finally, DekaBank Deutsche Girozentrale raised its holdings in shares of Charles Schwab by 33.8% during the second quarter. DekaBank Deutsche Girozentrale now owns 560,994 shares of the financial services provider’s stock valued at $41,133,000 after buying an additional 141,676 shares during the last quarter. Institutional investors and hedge funds own 84.38% of the company’s stock.

Charles Schwab Company Profile

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.