Charles Schwab (NYSE:SCHW) Upgraded at Wells Fargo & Company

Wells Fargo & Company upgraded shares of Charles Schwab (NYSE:SCHW) from an equal weight rating to an overweight rating in a report released on Wednesday morning, MarketBeat Ratings reports. They currently have $93.00 price objective on the financial services provider’s stock, up from their previous price objective of $89.00.

A number of other equities analysts have also recently weighed in on SCHW. StockNews.com raised Charles Schwab from a “sell” rating to a “hold” rating in a report on Wednesday, October 16th. Barclays increased their target price on Charles Schwab from $95.00 to $96.00 and gave the company an “overweight” rating in a report on Wednesday. Truist Financial raised Charles Schwab to a “strong-buy” rating in a report on Monday, January 6th. Deutsche Bank Aktiengesellschaft increased their target price on Charles Schwab from $98.00 to $105.00 and gave the company a “buy” rating in a report on Wednesday. Finally, Citigroup increased their target price on Charles Schwab from $80.00 to $85.00 and gave the company a “neutral” rating in a report on Wednesday. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, Charles Schwab has an average rating of “Hold” and a consensus target price of $83.83.

Charles Schwab Stock Performance

Shares of SCHW stock opened at $81.67 on Wednesday. The stock has a market cap of $145.34 billion, a PE ratio of 27.31, a price-to-earnings-growth ratio of 1.46 and a beta of 0.99. The business has a 50-day simple moving average of $77.78 and a 200-day simple moving average of $70.82. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 0.59. Charles Schwab has a 52-week low of $61.01 and a 52-week high of $83.35.

Charles Schwab (NYSE:SCHW) last issued its quarterly earnings data on Tuesday, January 21st. The financial services provider reported $1.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.90 by $0.11. The business had revenue of $5.33 billion during the quarter, compared to analysts’ expectations of $5,190,822.51 billion. Charles Schwab had a return on equity of 18.20% and a net margin of 30.31%. The company’s revenue for the quarter was up 19.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.68 EPS. On average, equities analysts expect that Charles Schwab will post 4.09 EPS for the current year.

Insider Buying and Selling

In related news, Director Christopher V. Dodds sold 9,284 shares of the stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $81.43, for a total value of $755,996.12. Following the completion of the transaction, the director now directly owns 442,807 shares in the company, valued at approximately $36,057,774.01. This represents a 2.05 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, General Counsel Peter J. Morgan III sold 14,643 shares of the stock in a transaction that occurred on Wednesday, January 22nd. The stock was sold at an average price of $80.70, for a total value of $1,181,690.10. The disclosure for this sale can be found here. Over the last three months, insiders sold 41,466 shares of company stock worth $3,352,884. Company insiders own 6.60% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the company. First Dallas Securities Inc. boosted its position in shares of Charles Schwab by 1.9% during the fourth quarter. First Dallas Securities Inc. now owns 18,815 shares of the financial services provider’s stock worth $1,392,000 after buying an additional 352 shares during the period. Trust Point Inc. boosted its position in shares of Charles Schwab by 18.1% during the fourth quarter. Trust Point Inc. now owns 7,519 shares of the financial services provider’s stock worth $557,000 after buying an additional 1,152 shares during the period. Childress Capital Advisors LLC boosted its position in shares of Charles Schwab by 4.8% during the fourth quarter. Childress Capital Advisors LLC now owns 3,481 shares of the financial services provider’s stock worth $258,000 after buying an additional 158 shares during the period. Optas LLC boosted its position in shares of Charles Schwab by 25.7% during the fourth quarter. Optas LLC now owns 4,708 shares of the financial services provider’s stock worth $348,000 after buying an additional 964 shares during the period. Finally, Financial Life Planners purchased a new position in shares of Charles Schwab during the fourth quarter worth $46,000. 84.38% of the stock is currently owned by hedge funds and other institutional investors.

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.