Analysts Set The Charles Schwab Corporation (SCHW) PT at $46.50

The Charles Schwab Corporation (NYSE:SCHW) has earned an average rating of “Buy” from the eighteen brokerages that are presently covering the firm, MarketBeat reports. Six investment analysts have rated the stock with a hold recommendation and twelve have given a buy recommendation to the company. The average 1-year price target among brokers that have covered the stock in the last year is $46.64.

Several research firms recently commented on SCHW. Nomura downgraded The Charles Schwab Corporation from a “buy” rating to a “neutral” rating in a report on Monday, July 24th. Instinet reissued a “neutral” rating and issued a $43.00 target price (down from $46.00) on shares of The Charles Schwab Corporation in a research report on Monday, July 24th. BidaskClub raised The Charles Schwab Corporation from a “hold” rating to a “buy” rating in a research report on Tuesday, June 13th. Argus reissued a “buy” rating and issued a $48.00 target price (up from $46.00) on shares of The Charles Schwab Corporation in a research report on Friday, July 21st. Finally, Morgan Stanley reissued an “overweight” rating and issued a $51.00 target price (up from $48.00) on shares of The Charles Schwab Corporation in a research report on Tuesday, July 25th.

The Charles Schwab Corporation (NYSE SCHW) traded up 0.15% during midday trading on Wednesday, reaching $45.41. 5,006,178 shares of the company’s stock traded hands. The Charles Schwab Corporation has a one year low of $30.66 and a one year high of $46.21. The stock has a market cap of $60.81 billion, a PE ratio of 30.48 and a beta of 1.68. The stock’s 50 day moving average price is $41.08 and its 200-day moving average price is $40.89.

The Charles Schwab Corporation (NYSE:SCHW) last released its quarterly earnings data on Tuesday, July 18th. The financial services provider reported $0.39 EPS for the quarter, hitting the consensus estimate of $0.39. The Charles Schwab Corporation had a return on equity of 15.41% and a net margin of 26.73%. The company had revenue of $2.13 billion during the quarter, compared to the consensus estimate of $2.13 billion. During the same period last year, the company earned $0.30 EPS. The Charles Schwab Corporation’s revenue for the quarter was up 16.5% on a year-over-year basis. Equities analysts predict that The Charles Schwab Corporation will post $1.62 earnings per share for the current year.

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In other The Charles Schwab Corporation news, insider Marie A. Chandoha sold 9,705 shares of the company’s stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $43.17, for a total value of $418,964.85. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Marie A. Chandoha sold 19,074 shares of the company’s stock in a transaction on Friday, October 6th. The stock was sold at an average price of $45.94, for a total value of $876,259.56. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,035,705 shares of company stock valued at $44,665,539. 12.00% of the stock is owned by company insiders.

Hedge funds have recently modified their holdings of the business. American Century Companies Inc. lifted its holdings in shares of The Charles Schwab Corporation by 19.4% in the 2nd quarter. American Century Companies Inc. now owns 4,139,650 shares of the financial services provider’s stock worth $177,839,000 after buying an additional 673,011 shares during the period. Principal Financial Group Inc. lifted its holdings in shares of The Charles Schwab Corporation by 17.3% in the 2nd quarter. Principal Financial Group Inc. now owns 3,100,144 shares of the financial services provider’s stock worth $133,182,000 after buying an additional 457,591 shares during the period. Mitsubishi UFJ Trust & Banking Corp lifted its holdings in shares of The Charles Schwab Corporation by 1.6% in the 2nd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 2,417,577 shares of the financial services provider’s stock worth $103,859,000 after buying an additional 38,306 shares during the period. Bank of Nova Scotia lifted its holdings in shares of The Charles Schwab Corporation by 932.5% in the 1st quarter. Bank of Nova Scotia now owns 278,070 shares of the financial services provider’s stock worth $11,348,000 after buying an additional 251,139 shares during the period. Finally, JPMorgan Chase & Co. lifted its holdings in shares of The Charles Schwab Corporation by 1.3% in the 2nd quarter. JPMorgan Chase & Co. now owns 39,576,199 shares of the financial services provider’s stock worth $1,700,193,000 after buying an additional 491,451 shares during the period. Institutional investors and hedge funds own 79.53% of the company’s stock.

About The Charles Schwab Corporation

The Charles Schwab Corporation (CSC) is a savings and loan holding company. The Company, through its subsidiaries, engages in wealth management, securities brokerage, banking, money management and financial advisory services. The Company provides financial services to individuals and institutional clients through two segments: Investor Services and Advisor Services.

Analyst Recommendations for The Charles Schwab Corporation (NYSE:SCHW)

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