Wells Fargo & Company Forecasts Strong Price Appreciation for Charles Schwab (NYSE:SCHW) Stock

Charles Schwab (NYSE:SCHW) had its price objective lifted by stock analysts at Wells Fargo & Company from $75.00 to $90.00 in a research report issued on Thursday,Benzinga reports. The firm presently has an “equal weight” rating on the financial services provider’s stock. Wells Fargo & Company‘s price objective would suggest a potential upside of 13.15% from the stock’s previous close.

SCHW has been the topic of several other reports. The Goldman Sachs Group boosted their target price on Charles Schwab from $67.00 to $74.00 and gave the stock a “neutral” rating in a report on Wednesday, October 16th. Jefferies Financial Group increased their target price on Charles Schwab from $84.00 to $94.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Deutsche Bank Aktiengesellschaft lifted their price target on Charles Schwab from $77.00 to $80.00 and gave the company a “buy” rating in a report on Monday, November 11th. Piper Sandler increased their price objective on shares of Charles Schwab from $64.00 to $65.00 and gave the stock a “neutral” rating in a report on Wednesday, October 16th. Finally, Keefe, Bruyette & Woods boosted their target price on shares of Charles Schwab from $76.00 to $81.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $79.75.

Charles Schwab Trading Down 4.0 %

Shares of SCHW opened at $79.54 on Thursday. The stock has a 50 day simple moving average of $75.55 and a 200-day simple moving average of $70.41. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 0.59. The stock has a market cap of $141.55 billion, a PE ratio of 31.07, a PEG ratio of 1.79 and a beta of 0.96. Charles Schwab has a 1 year low of $59.67 and a 1 year high of $83.35.

Charles Schwab (NYSE:SCHW) last posted its earnings results on Tuesday, October 15th. The financial services provider reported $0.77 earnings per share for the quarter, topping the consensus estimate of $0.75 by $0.02. Charles Schwab had a net margin of 27.47% and a return on equity of 16.92%. The business had revenue of $4.85 billion for the quarter, compared to analyst estimates of $4.78 billion. During the same quarter in the prior year, the firm earned $0.77 EPS. The firm’s quarterly revenue was up 5.2% compared to the same quarter last year. On average, sell-side analysts predict that Charles Schwab will post 3.12 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Chairman Charles R. Schwab sold 62,345 shares of Charles Schwab stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $72.52, for a total transaction of $4,521,259.40. Following the transaction, the chairman now owns 60,619,371 shares in the company, valued at $4,396,116,784.92. The trade was a 0.10 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Jonathan S. Beatty sold 2,500 shares of the business’s stock in a transaction that occurred on 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 of the company’s stock, valued at $1,391,674.38. This represents a 12.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 127,968 shares of company stock valued at $9,419,271 in the last 90 days. 6.60% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of SCHW. Washington Trust Advisors Inc. lifted its position in Charles Schwab by 62.6% in the 3rd quarter. Washington Trust Advisors Inc. now owns 387 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 149 shares in the last quarter. Capital Performance Advisors LLP bought a new stake in shares of Charles Schwab in the third quarter valued at about $25,000. American Capital Advisory LLC acquired a new position in shares of Charles Schwab during the second quarter worth about $27,000. Mizuho Securities Co. Ltd. bought a new position in shares of Charles Schwab during the second quarter worth about $29,000. Finally, Prospera Private Wealth LLC acquired a new stake in Charles Schwab in the 3rd quarter valued at approximately $31,000. Institutional investors own 84.38% of the company’s stock.

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.