Charles Schwab Corp (NYSE:SCHW) had its price objective raised by Morgan Stanley from $51.00 to $53.00 in a research note issued to investors on Thursday, October 5th. They currently have an overweight rating on the financial services provider’s stock.
Other analysts also recently issued reports about the stock. Deutsche Bank AG reduced their price target on shares of Charles Schwab Corp from $47.00 to $46.00 and set a buy rating on the stock in a report on Tuesday, July 4th. Keefe, Bruyette & Woods reiterated a buy rating and issued a $46.00 price target on shares of Charles Schwab Corp in a report on Friday, June 16th. BidaskClub upgraded shares of Charles Schwab Corp from a hold rating to a buy rating in a report on Tuesday, June 13th. Argus reiterated a buy rating and issued a $48.00 price target (up from $46.00) on shares of Charles Schwab Corp in a report on Friday, July 21st. Finally, Jefferies Group LLC reiterated a buy rating and issued a $49.00 price target on shares of Charles Schwab Corp in a report on Friday, September 15th. Six analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. The stock has an average rating of Buy and a consensus target price of $46.80.
Shares of Charles Schwab Corp (SCHW) opened at 44.47 on Thursday. Charles Schwab Corp has a one year low of $30.66 and a one year high of $46.21. The company has a market cap of $59.55 billion, a PE ratio of 29.85 and a beta of 1.68. The firm’s 50-day moving average is $41.93 and its 200-day moving average is $41.08.
Charles Schwab Corp (NYSE:SCHW) last issued its quarterly earnings results on Monday, October 16th. The financial services provider reported $0.42 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.41 by $0.01. The business had revenue of $2.17 billion for the quarter, compared to analysts’ expectations of $2.18 billion. Charles Schwab Corp had a net margin of 26.09% and a return on equity of 14.71%. The company’s revenue was up 13.1% compared to the same quarter last year. During the same quarter last year, the company posted $0.35 EPS. On average, equities analysts anticipate that Charles Schwab Corp will post $1.61 EPS for the current year.
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In related news, EVP Joseph R. Martinetto sold 89,330 shares of the business’s stock in a transaction that occurred on Wednesday, July 19th. The shares were sold at an average price of $42.51, for a total transaction of $3,797,418.30. Following the completion of the transaction, the executive vice president now owns 207,961 shares in the company, valued at approximately $8,840,422.11. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Marie A. Chandoha sold 9,705 shares of the company’s stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $43.17, for a total transaction of $418,964.85. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,035,705 shares of company stock valued at $44,665,539. 12.00% of the stock is currently owned by company insiders.
A number of institutional investors have recently modified their holdings of the business. Vanguard Group Inc. increased its stake in Charles Schwab Corp by 3.2% during the 2nd quarter. Vanguard Group Inc. now owns 81,925,586 shares of the financial services provider’s stock valued at $3,519,523,000 after purchasing an additional 2,536,947 shares in the last quarter. BlackRock Inc. boosted its holdings in shares of Charles Schwab Corp by 2.5% in the 2nd quarter. BlackRock Inc. now owns 73,666,134 shares of the financial services provider’s stock valued at $3,164,699,000 after acquiring an additional 1,790,015 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Charles Schwab Corp by 1.3% in the 2nd quarter. JPMorgan Chase & Co. now owns 39,576,199 shares of the financial services provider’s stock valued at $1,700,193,000 after acquiring an additional 491,451 shares during the last quarter. FMR LLC boosted its holdings in shares of Charles Schwab Corp by 11.3% in the 2nd quarter. FMR LLC now owns 30,766,004 shares of the financial services provider’s stock valued at $1,321,708,000 after acquiring an additional 3,128,532 shares during the last quarter. Finally, Capital Research Global Investors boosted its holdings in shares of Charles Schwab Corp by 86.3% in the 2nd quarter. Capital Research Global Investors now owns 24,237,199 shares of the financial services provider’s stock valued at $1,041,230,000 after acquiring an additional 11,224,199 shares during the last quarter. Institutional investors and hedge funds own 79.44% of the company’s stock.
Charles Schwab Corp Company Profile
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.
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