The Charles Schwab Corporation (NYSE:SCHW) Given New $47.00 Price Target at Deutsche Bank AG

The Charles Schwab Corporation (NYSE:SCHW) had its price objective lifted by Deutsche Bank AG from $46.00 to $47.00 in a report released on Wednesday, October 25th. They currently have a hold rating on the financial services provider’s stock.

Several other research firms also recently commented on SCHW. BidaskClub downgraded shares of The Charles Schwab Corporation from a buy rating to a hold rating in a research report on Wednesday, July 19th. Jefferies Group LLC reiterated a buy rating and issued a $49.00 price target on shares of The Charles Schwab Corporation in a research report on Friday, September 15th. Morgan Stanley upped their price target on shares of The Charles Schwab Corporation from $51.00 to $53.00 and gave the company an overweight rating in a research report on Thursday, October 5th. Citigroup Inc. initiated coverage on shares of The Charles Schwab Corporation in a research report on Thursday, July 13th. They issued a neutral rating and a $46.00 price target for the company. Finally, Rosenblatt Securities initiated coverage on shares of The Charles Schwab Corporation in a research report on Thursday, July 13th. They issued a neutral rating and a $46.00 price target for the company. Six analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. The Charles Schwab Corporation currently has a consensus rating of Buy and an average price target of $47.07.

Shares of The Charles Schwab Corporation (NYSE SCHW) traded up $0.27 during trading hours on Wednesday, hitting $44.27. 4,512,000 shares of the stock traded hands, compared to its average volume of 5,440,545. The stock has a market cap of $59,347.30, a P/E ratio of 28.38, a PEG ratio of 1.88 and a beta of 1.74. The company has a quick ratio of 0.30, a current ratio of 0.31 and a debt-to-equity ratio of 0.21. The Charles Schwab Corporation has a twelve month low of $34.85 and a twelve month high of $46.21.

The Charles Schwab Corporation (NYSE:SCHW) last issued its quarterly earnings data on Wednesday, October 18th. The financial services provider reported $0.42 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.01. The business had revenue of $2.17 billion during the quarter, compared to the consensus estimate of $2.18 billion. The Charles Schwab Corporation had a net margin of 27.30% and a return on equity of 15.77%. The company’s revenue was up 13.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.35 EPS. equities research analysts expect that The Charles Schwab Corporation will post 1.62 EPS for the current fiscal year.

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The business also recently declared a quarterly dividend, which will be paid on Friday, November 24th. Stockholders of record on Friday, November 10th will be paid a dividend of $0.08 per share. The ex-dividend date of this dividend is Thursday, November 9th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.72%. The Charles Schwab Corporation’s dividend payout ratio (DPR) is presently 20.51%.

In other news, Chairman Charles R. Schwab sold 200,000 shares of the company’s stock in a transaction on Friday, November 10th. The shares were sold at an average price of $44.29, for a total transaction of $8,858,000.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Chairman Charles R. Schwab sold 225,000 shares of the stock in a transaction dated Tuesday, October 24th. The shares were sold at an average price of $44.89, for a total transaction of $10,100,250.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 573,095 shares of company stock worth $25,552,240. Corporate insiders own 12.00% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of SCHW. Waldron LP grew its stake in The Charles Schwab Corporation by 23.9% in the 1st quarter. Waldron LP now owns 9,339 shares of the financial services provider’s stock valued at $381,000 after acquiring an additional 1,799 shares during the last quarter. Montag & Caldwell LLC acquired a new stake in The Charles Schwab Corporation in the 1st quarter valued at about $44,116,000. AXA grew its stake in The Charles Schwab Corporation by 6.0% in the 1st quarter. AXA now owns 363,655 shares of the financial services provider’s stock valued at $14,841,000 after acquiring an additional 20,461 shares during the last quarter. Boston Private Wealth LLC grew its stake in The Charles Schwab Corporation by 3.1% in the 1st quarter. Boston Private Wealth LLC now owns 431,734 shares of the financial services provider’s stock valued at $17,619,000 after acquiring an additional 12,793 shares during the last quarter. Finally, Municipal Employees Retirement System of Michigan grew its stake in The Charles Schwab Corporation by 1.1% in the 1st quarter. Municipal Employees Retirement System of Michigan now owns 38,930 shares of the financial services provider’s stock valued at $1,589,000 after acquiring an additional 440 shares during the last quarter. 79.41% of the stock is currently owned by hedge funds and other institutional investors.

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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