Charles Schwab (NYSE:SCHW) Given New $91.00 Price Target at Truist Financial

Charles Schwab (NYSE:SCHW) had its target price increased by equities researchers at Truist Financial from $90.00 to $91.00 in a research note issued on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the financial services provider’s stock. Truist Financial’s price target indicates a potential upside of 9.33% from the stock’s current price.

Several other research firms have also issued reports on SCHW. Citigroup lifted their target price on shares of Charles Schwab from $80.00 to $85.00 and gave the company a “neutral” rating in a report on Wednesday, January 22nd. Barclays raised their price target on Charles Schwab from $95.00 to $96.00 and gave the company an “overweight” rating in a report on Wednesday, January 22nd. JMP Securities reaffirmed a “market outperform” rating and issued a $94.00 price objective (up previously from $84.00) on shares of Charles Schwab in a research note on Monday, December 9th. Raymond James cut their price objective on shares of Charles Schwab from $76.00 to $73.00 in a research report on Tuesday, October 15th. Finally, Morgan Stanley boosted their price objective on shares of Charles Schwab from $84.00 to $91.00 and gave the company an “equal weight” rating in a research report on Thursday, February 6th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $84.56.

Charles Schwab Trading Up 2.5 %

NYSE SCHW traded up $2.07 during mid-day trading on Tuesday, reaching $83.24. 30,068,984 shares of the stock were exchanged, compared to its average volume of 9,455,335. The stock has a 50 day simple moving average of $77.99 and a 200-day simple moving average of $71.99. Charles Schwab has a one year low of $61.01 and a one year high of $84.04. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.47 and a quick ratio of 0.47. The stock has a market cap of $148.13 billion, a P/E ratio of 27.82, a P/E/G ratio of 1.02 and a beta of 0.99.

Charles Schwab (NYSE:SCHW) last posted its quarterly earnings data on Tuesday, January 21st. The financial services provider reported $1.01 EPS for the quarter, beating the consensus estimate of $0.90 by $0.11. The business had revenue of $5.33 billion for the quarter, compared to the consensus estimate of $5.19 billion. Charles Schwab had a return on equity of 18.20% and a net margin of 30.31%. Charles Schwab’s revenue for the quarter was up 19.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.68 earnings per share. On average, analysts anticipate that Charles Schwab will post 4.18 EPS for the current year.

Insider Buying and Selling

In related news, Director Christopher V. Dodds sold 9,284 shares of the stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $81.43, for a total transaction of $755,996.12. Following the completion of the sale, the director now directly owns 442,807 shares of the company’s stock, valued at approximately $36,057,774.01. This represents a 2.05 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Nigel J. Murtagh sold 12,739 shares of the company’s stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $81.17, for a total transaction of $1,034,024.63. Following the completion of the transaction, the insider now owns 59,092 shares of the company’s stock, valued at $4,796,497.64. This trade represents a 17.73 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 47,514 shares of company stock worth $3,859,731 in the last quarter. Insiders own 6.60% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of SCHW. Washington Trust Advisors Inc. grew its position in shares of Charles Schwab by 62.6% in the third quarter. Washington Trust Advisors Inc. now owns 387 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 149 shares during the last quarter. Capital Performance Advisors LLP acquired a new position in shares of Charles Schwab during the 3rd quarter worth $25,000. Prospera Private Wealth LLC acquired a new position in Charles Schwab during the 3rd quarter worth approximately $31,000. Hazlett Burt & Watson Inc. bought a new stake in Charles Schwab during the 3rd quarter worth $33,000. Finally, Planning Capital Management Corp bought a new position in Charles Schwab in the 3rd quarter valued at approximately $33,000. 84.38% of the stock is currently owned by institutional investors.

About Charles Schwab

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.