Morgan Stanley Boosts Charles Schwab (NYSE:SCHW) Price Target to $91.00

Charles Schwab (NYSE:SCHW) had its price target hoisted by analysts at Morgan Stanley from $84.00 to $91.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage presently has an “equal weight” rating on the financial services provider’s stock. Morgan Stanley’s price target suggests a potential upside of 9.40% from the stock’s previous close.

A number of other research firms also recently commented on SCHW. Bank of America dropped their target price on shares of Charles Schwab from $63.00 to $61.00 and set an “underperform” rating on the stock in a research report on Wednesday, October 16th. Raymond James cut their target price on Charles Schwab from $76.00 to $73.00 in a research report on Tuesday, October 15th. Wells Fargo & Company raised Charles Schwab from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $89.00 to $93.00 in a research report on Wednesday, January 22nd. JMP Securities restated a “market outperform” rating and set a $94.00 price target (up previously from $84.00) on shares of Charles Schwab in a research note on Monday, December 9th. Finally, Redburn Partners reduced their price objective on Charles Schwab from $70.00 to $68.00 and set a “sell” rating for the company in a research note on Friday, January 17th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, Charles Schwab presently has an average rating of “Hold” and a consensus price target of $84.50.

Charles Schwab Stock Down 0.5 %

Shares of NYSE SCHW opened at $83.18 on Thursday. The business has a 50-day moving average of $77.99 and a two-hundred day moving average of $71.66. The company has a market capitalization of $148.04 billion, a price-to-earnings ratio of 27.82, a price-to-earnings-growth ratio of 1.01 and a beta of 0.99. Charles Schwab has a 1 year low of $61.01 and a 1 year high of $84.04. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.47 and a quick ratio of 0.47.

Charles Schwab (NYSE:SCHW) last posted its earnings results on Tuesday, January 21st. The financial services provider reported $1.01 earnings per share for the quarter, topping the consensus estimate of $0.90 by $0.11. The firm had revenue of $5.33 billion during the quarter, compared to analysts’ expectations of $5.19 billion. Charles Schwab had a return on equity of 18.20% and a net margin of 30.31%. The firm’s revenue was up 19.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.68 earnings per share. On average, analysts forecast that Charles Schwab will post 4.18 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Jonathan S. Beatty sold 2,500 shares of the stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $77.02, for a total value of $192,550.00. Following the completion of the transaction, the insider now owns 18,069 shares in the company, valued at $1,391,674.38. This trade represents a 12.15 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Arun Sarin sold 8,548 shares of the firm’s stock in a transaction dated Thursday, January 23rd. The shares were sold at an average price of $81.82, for a total transaction of $699,397.36. Following the completion of the sale, the director now owns 18,617 shares of the company’s stock, valued at $1,523,242.94. This trade represents a 31.47 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 50,014 shares of company stock valued at $4,052,281 over the last ninety days. Corporate insiders own 6.60% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Brookstone Capital Management grew its holdings in Charles Schwab by 5.2% in the third quarter. Brookstone Capital Management now owns 8,468 shares of the financial services provider’s stock valued at $549,000 after purchasing an additional 422 shares during the last quarter. Future Financial Wealth Managment LLC acquired a new stake in Charles Schwab in the 3rd quarter valued at about $32,000. Daymark Wealth Partners LLC increased its holdings in Charles Schwab by 0.7% during the 3rd quarter. Daymark Wealth Partners LLC now owns 51,327 shares of the financial services provider’s stock valued at $3,327,000 after acquiring an additional 374 shares in the last quarter. Sanibel Captiva Trust Company Inc. acquired a new position in Charles Schwab during the third quarter worth about $201,000. Finally, Bruce G. Allen Investments LLC lifted its holdings in shares of Charles Schwab by 8.8% in the third quarter. Bruce G. Allen Investments LLC now owns 3,010 shares of the financial services provider’s stock valued at $195,000 after purchasing an additional 244 shares in the last quarter. 84.38% of the stock is 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.