Piper Sandler Raises Charles Schwab (NYSE:SCHW) Price Target to $65.00

Charles Schwab (NYSE:SCHW) had its target price increased by Piper Sandler from $64.00 to $65.00 in a report published on Wednesday, Benzinga reports. Piper Sandler currently has a neutral rating on the financial services provider’s stock.

A number of other equities analysts also recently commented on the company. Barclays cut their price objective on Charles Schwab from $77.00 to $68.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 17th. Raymond James cut their price target on shares of Charles Schwab from $76.00 to $73.00 in a report on Tuesday, October 15th. Cowen boosted their price objective on shares of Charles Schwab from $69.00 to $75.00 and gave the stock a “hold” rating in a research note on Tuesday, October 15th. TD Cowen reissued a “hold” rating and issued a $71.00 price objective (down previously from $88.00) on shares of Charles Schwab in a research report on Wednesday, July 17th. Finally, Jefferies Financial Group reduced their target price on shares of Charles Schwab from $79.00 to $73.00 and set a “buy” rating on the stock in a report on Friday, October 4th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $73.59.

Charles Schwab Trading Down 0.8 %

Shares of SCHW stock opened at $71.36 on Wednesday. The firm’s 50-day simple moving average is $64.97 and its 200-day simple moving average is $69.51. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.42 and a quick ratio of 0.42. Charles Schwab has a 1-year low of $48.66 and a 1-year high of $79.49. The firm has a market cap of $126.91 billion, a P/E ratio of 29.61, a PEG ratio of 1.47 and a beta of 0.97.

Charles Schwab (NYSE:SCHW) last issued its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $0.77 EPS for the quarter, topping the consensus estimate of $0.75 by $0.02. The firm had revenue of $4.85 billion during the quarter, compared to analyst estimates of $4.78 billion. Charles Schwab had a net margin of 26.30% and a return on equity of 18.14%. Charles Schwab’s revenue for the quarter was up 5.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.77 earnings per share. As a group, equities analysts forecast that Charles Schwab will post 3.06 EPS for the current year.

Charles Schwab Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Friday, August 9th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.40%. The ex-dividend date was Friday, August 9th. Charles Schwab’s payout ratio is currently 41.49%.

Insider Buying and Selling

In other Charles Schwab news, Director Carolyn Schwab-Pomerantz sold 12,320 shares of the firm’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $65.10, for a total transaction of $802,032.00. Following the completion of the transaction, the director now directly owns 562,129 shares of the company’s stock, valued at $36,594,597.90. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Paul V. Woolway sold 1,150 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $65.20, for a total transaction of $74,980.00. Following the sale, the insider now directly owns 61,887 shares of the company’s stock, valued at approximately $4,035,032.40. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Carolyn Schwab-Pomerantz sold 12,320 shares of Charles Schwab stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $65.10, for a total transaction of $802,032.00. Following the completion of the transaction, the director now directly owns 562,129 shares of the company’s stock, valued at approximately $36,594,597.90. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 182,001 shares of company stock worth $12,512,592. Insiders own 6.60% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Trust Co. of Toledo NA OH acquired a new position in Charles Schwab in the first quarter valued at approximately $237,000. Massmutual Trust Co. FSB ADV boosted its position in Charles Schwab by 18.3% during the 1st quarter. Massmutual Trust Co. FSB ADV now owns 4,621 shares of the financial services provider’s stock valued at $334,000 after purchasing an additional 716 shares during the period. Collective Family Office LLC grew its stake in Charles Schwab by 29.3% during the 1st quarter. Collective Family Office LLC now owns 4,069 shares of the financial services provider’s stock worth $294,000 after buying an additional 923 shares during the last quarter. Fulton Bank N.A. increased its position in Charles Schwab by 10.4% in the first quarter. Fulton Bank N.A. now owns 8,933 shares of the financial services provider’s stock worth $646,000 after buying an additional 845 shares during the period. Finally, Wedmont Private Capital lifted its stake in Charles Schwab by 12.2% in the first quarter. Wedmont Private Capital now owns 13,130 shares of the financial services provider’s stock valued at $949,000 after buying an additional 1,430 shares during the last quarter. 84.38% of the stock is currently owned by institutional investors.

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.