Charles Schwab (NYSE:SCHW) Rating Increased to Buy at TD Cowen

TD Cowen upgraded shares of Charles Schwab (NYSE:SCHW) from a hold rating to a buy rating in a research note released on Tuesday morning, Marketbeat.com reports. TD Cowen currently has $103.00 price target on the financial services provider’s stock, up from their prior price target of $88.00.

Other analysts also recently issued research reports about the company. Jefferies Financial Group raised their price objective on Charles Schwab from $84.00 to $94.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Wells Fargo & Company upgraded shares of Charles Schwab from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $89.00 to $93.00 in a research note on Wednesday, January 22nd. JPMorgan Chase & Co. lifted 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. Redburn Partners lowered their price target on shares of Charles Schwab from $70.00 to $68.00 and set a “sell” rating for the company in a report on Friday, January 17th. Finally, Piper Sandler upped their price objective on Charles Schwab from $65.00 to $70.00 and gave the stock a “neutral” rating in a report on Tuesday, January 7th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, Charles Schwab currently has a consensus rating of “Hold” and an average target price of $86.33.

Charles Schwab Stock Up 1.4 %

SCHW stock opened at $81.49 on Tuesday. The company has a fifty day simple moving average of $78.01 and a 200 day simple moving average of $72.57. Charles Schwab has a 1 year low of $61.01 and a 1 year high of $84.50. The firm has a market cap of $145.02 billion, a PE ratio of 27.25, a PEG ratio of 1.02 and a beta of 0.99. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 0.59.

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

Charles Schwab Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Friday, February 14th will be given a dividend of $0.27 per share. The ex-dividend date of this dividend is Friday, February 14th. This is a boost from Charles Schwab’s previous quarterly dividend of $0.25. This represents a $1.08 annualized dividend and a yield of 1.33%. Charles Schwab’s payout ratio is 33.44%.

Insider Transactions at Charles Schwab

In other news, Director Arun Sarin sold 8,548 shares of the stock in a transaction on Thursday, January 23rd. The stock was sold at an average price of $81.82, for a total value of $699,397.36. Following the completion of the transaction, the director now directly owns 18,617 shares in the company, valued at approximately $1,523,242.94. This represents a 31.47 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jonathan S. Beatty sold 2,300 shares of the business’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $82.01, for a total value of $188,623.00. Following the sale, the insider now owns 18,069 shares in the company, valued at $1,481,838.69. This represents a 11.29 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 502,859 shares of company stock worth $41,161,496 in the last ninety days. Insiders own 6.60% of the company’s stock.

Institutional Trading of Charles Schwab

Hedge funds have recently made changes to their positions in the company. Norges Bank acquired a new stake in Charles Schwab during the 4th quarter worth approximately $1,289,544,000. Kovitz Investment Group Partners LLC increased its position in Charles Schwab by 354.5% in the 4th quarter. Kovitz Investment Group Partners LLC now owns 11,005,881 shares of the financial services provider’s stock valued at $814,545,000 after buying an additional 8,584,173 shares in the last quarter. FMR LLC raised its stake in Charles Schwab by 69.4% during the 4th quarter. FMR LLC now owns 9,700,013 shares of the financial services provider’s stock worth $717,898,000 after buying an additional 3,974,940 shares during the period. Marshall Wace LLP grew its stake in Charles Schwab by 742.0% in the fourth quarter. Marshall Wace LLP now owns 4,181,202 shares of the financial services provider’s stock valued at $309,451,000 after acquiring an additional 3,684,640 shares during the period. Finally, Primecap Management Co. CA increased its holdings in shares of Charles Schwab by 310.3% during the fourth quarter. Primecap Management Co. CA now owns 4,252,350 shares of the financial services provider’s stock valued at $314,716,000 after acquiring an additional 3,216,000 shares in the last quarter. 84.38% of the stock is owned by institutional investors and hedge funds.

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.