Charles Schwab (NYSE:SCHW) Hits New 12-Month High Following Analyst Upgrade

The Charles Schwab Co. (NYSE:SCHW)’s share price reached a new 52-week high during mid-day trading on Wednesday after Truist Financial raised their price target on the stock from $90.00 to $91.00. Truist Financial currently has a buy rating on the stock. Charles Schwab traded as high as $84.50 and last traded at $83.51, with a volume of 59325916 shares trading hands. The stock had previously closed at $81.17.

Several other research firms have also issued reports on SCHW. Deutsche Bank Aktiengesellschaft raised their target price on shares of Charles Schwab from $98.00 to $105.00 and gave the stock a “buy” rating in a report on Wednesday, January 22nd. Barclays boosted their target price on Charles Schwab from $95.00 to $96.00 and gave the company an “overweight” rating in a research report on Wednesday, January 22nd. Jefferies Financial Group increased their price target on Charles Schwab from $84.00 to $94.00 and gave the stock a “buy” rating in a report on Monday, December 9th. JPMorgan Chase & Co. boosted their price objective on Charles Schwab from $87.00 to $93.00 and gave the company an “overweight” rating in a report on Tuesday, January 7th. Finally, Raymond James cut their price objective on Charles Schwab from $76.00 to $73.00 in a research report on Tuesday, October 15th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $84.56.

Insider Buying and Selling at Charles Schwab

In related news, Director Christopher V. Dodds sold 9,284 shares of the stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $81.43, for a total value of $755,996.12. Following the transaction, the director now owns 442,807 shares in the company, valued at approximately $36,057,774.01. This represents a 2.05 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Arun Sarin sold 8,548 shares of Charles Schwab stock in a transaction that occurred on Thursday, January 23rd. The shares were sold at an average price of $81.82, for a total transaction of $699,397.36. Following the sale, the director now owns 18,617 shares of the company’s stock, valued at approximately $1,523,242.94. The trade was a 31.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 47,514 shares of company stock worth $3,859,731. 6.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Charles Schwab

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Exchange Traded Concepts LLC grew its holdings in Charles Schwab by 78.9% in the third quarter. Exchange Traded Concepts LLC now owns 19,773 shares of the financial services provider’s stock valued at $1,281,000 after purchasing an additional 8,721 shares during the period. CHICAGO TRUST Co NA lifted its position in shares of Charles Schwab by 10.6% during the 3rd quarter. CHICAGO TRUST Co NA now owns 3,353 shares of the financial services provider’s stock valued at $217,000 after buying an additional 320 shares in the last quarter. Sound Income Strategies LLC grew its stake in Charles Schwab by 682.4% in the 3rd quarter. Sound Income Strategies LLC now owns 1,064 shares of the financial services provider’s stock valued at $69,000 after acquiring an additional 928 shares during the period. Thurston Springer Miller Herd & Titak Inc. increased its holdings in Charles Schwab by 71.6% in the 3rd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 5,820 shares of the financial services provider’s stock worth $377,000 after acquiring an additional 2,429 shares in the last quarter. Finally, Procyon Advisors LLC raised its position in Charles Schwab by 5.4% during the third quarter. Procyon Advisors LLC now owns 3,437 shares of the financial services provider’s stock worth $222,000 after acquiring an additional 176 shares during the period. Institutional investors and hedge funds own 84.38% of the company’s stock.

Charles Schwab Trading Up 2.9 %

The company’s fifty day simple moving average is $77.99 and its 200-day simple moving average is $71.99. The firm has a market capitalization of $148.61 billion, a PE ratio of 27.93, a P/E/G ratio of 1.02 and a beta of 0.99. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.47 and a quick ratio of 0.47.

Charles Schwab (NYSE:SCHW) last released its earnings results on Tuesday, January 21st. The financial services provider reported $1.01 earnings per share for the quarter, beating the consensus estimate of $0.90 by $0.11. Charles Schwab had a return on equity of 18.20% and a net margin of 30.31%. The business had revenue of $5.33 billion for the quarter, compared to the consensus estimate of $5.19 billion. During the same quarter last year, the business posted $0.68 earnings per share. The business’s quarterly revenue was up 19.5% compared to the same quarter last year. As a group, sell-side analysts expect that The Charles Schwab Co. will post 4.18 earnings per share for the current fiscal year.

Charles Schwab Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Friday, February 14th will be given a dividend of $0.27 per share. This is an increase from Charles Schwab’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Friday, February 14th. This represents a $1.08 dividend on an annualized basis and a yield of 1.29%. Charles Schwab’s dividend payout ratio (DPR) is presently 33.44%.

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.