Charles Schwab (NYSE:SCHW) Rating Increased to Buy at Citigroup

Citigroup upgraded shares of Charles Schwab (NYSE:SCHW) from a neutral rating to a buy rating in a research report report published on Wednesday morning, Marketbeat Ratings reports. Citigroup currently has $102.00 price objective on the financial services provider’s stock, up from their prior price objective of $85.00.

Other analysts have also recently issued research reports about the stock. Barclays increased their price target on shares of Charles Schwab from $95.00 to $96.00 and gave the company an “overweight” rating in a research note on Wednesday, January 22nd. TD Cowen raised Charles Schwab from a “hold” rating to a “buy” rating and raised their target price for the stock from $88.00 to $103.00 in a research note on Tuesday, February 18th. Piper Sandler lifted their target price on Charles Schwab from $65.00 to $70.00 and gave the company a “neutral” rating in a research report on Tuesday, January 7th. UBS Group increased their price target on Charles Schwab from $90.00 to $95.00 and gave the stock a “buy” rating in a report on Monday, January 27th. Finally, Redburn Partners reduced their price objective on shares of Charles Schwab from $70.00 to $68.00 and set a “sell” rating on the stock in a report on Friday, January 17th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, Charles Schwab currently has a consensus rating of “Moderate Buy” and a consensus price target of $87.28.

Charles Schwab Price Performance

NYSE:SCHW opened at $78.67 on Wednesday. Charles Schwab has a one year low of $61.01 and a one year high of $84.50. The stock has a market cap of $142.67 billion, a PE ratio of 26.31, a P/E/G ratio of 0.99 and a beta of 0.91. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.47 and a current ratio of 0.47. The stock has a 50 day moving average price of $79.48 and a 200 day moving average price of $75.69.

Charles Schwab (NYSE:SCHW) last issued its earnings results on Tuesday, January 21st. The financial services provider reported $1.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.90 by $0.11. Charles Schwab had a return on equity of 18.20% and a net margin of 30.31%. The business had revenue of $5.33 billion during the quarter, compared to the consensus estimate of $5.19 billion. During the same period last year, the company earned $0.68 EPS. The company’s revenue for the quarter was up 19.5% on a year-over-year basis. Equities research analysts expect that Charles Schwab will post 4.22 EPS for the current fiscal year.

Charles Schwab Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 14th were paid a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 1.37%. This is a boost from Charles Schwab’s previous quarterly dividend of $0.25. The ex-dividend date was Friday, February 14th. Charles Schwab’s payout ratio is presently 36.12%.

Insider Buying and Selling at Charles Schwab

In other Charles Schwab news, insider Paul V. Woolway sold 3,380 shares of the stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $77.43, for a total value of $261,713.40. Following the sale, the insider now directly owns 45,824 shares of the company’s stock, valued at approximately $3,548,152.32. This represents a 6.87 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Chairman Walter W. Bettinger sold 464,629 shares of Charles Schwab stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $81.91, for a total transaction of $38,057,761.39. Following the sale, the chairman now directly owns 827,377 shares of the company’s stock, valued at approximately $67,770,450.07. This trade represents a 35.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 513,081 shares of company stock valued at $41,903,066 in the last quarter. Corporate insiders own 6.60% of the company’s stock.

Institutional Trading of Charles Schwab

A number of hedge funds and other institutional investors have recently bought and sold shares of SCHW. Marcum Wealth LLC raised its position in shares of Charles Schwab by 8.6% during the 1st quarter. Marcum Wealth LLC now owns 10,319 shares of the financial services provider’s stock worth $808,000 after acquiring an additional 816 shares in the last quarter. Cullen Investment Group LTD. acquired a new stake in Charles Schwab during the first quarter worth approximately $1,851,000. Modus Advisors LLC lifted its position in shares of Charles Schwab by 1.2% during the 1st quarter. Modus Advisors LLC now owns 46,813 shares of the financial services provider’s stock worth $3,665,000 after buying an additional 558 shares during the last quarter. Neville Rodie & Shaw Inc. boosted its holdings in shares of Charles Schwab by 30.6% in the 1st quarter. Neville Rodie & Shaw Inc. now owns 7,050 shares of the financial services provider’s stock valued at $552,000 after buying an additional 1,650 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB grew its position in shares of Charles Schwab by 12.0% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 6,076 shares of the financial services provider’s stock valued at $476,000 after buying an additional 652 shares during the last quarter. 84.38% of the stock is currently owned by institutional investors and hedge funds.

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.