Citigroup Has Lowered Expectations for Charles Schwab (NYSE:SCHW) Stock Price

Charles Schwab (NYSE:SCHW) had its price objective reduced by equities researchers at Citigroup from $85.00 to $80.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage presently has a “neutral” rating on the financial services provider’s stock. Citigroup’s target price suggests a potential upside of 9.91% from the company’s current price.

A number of other research firms also recently weighed in on SCHW. Keefe, Bruyette & Woods boosted their target price on shares of Charles Schwab from $81.00 to $93.00 and gave the stock an “outperform” rating in a report on Friday, December 20th. Barclays upgraded Charles Schwab from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $74.00 to $95.00 in a report on Monday, December 9th. Piper Sandler lifted their target price on Charles Schwab from $65.00 to $70.00 and gave the company a “neutral” rating in a research report on Tuesday, January 7th. Raymond James dropped their price target on Charles Schwab from $76.00 to $73.00 in a research report on Tuesday, October 15th. Finally, Bank of America cut their price target on Charles Schwab from $63.00 to $61.00 and set an “underperform” rating on the stock in a report on Wednesday, October 16th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $81.69.

Charles Schwab Stock Performance

NYSE:SCHW opened at $72.79 on Friday. The stock has a 50-day simple moving average of $77.57 and a two-hundred day simple moving average of $70.61. The firm has a market capitalization of $129.54 billion, a PE ratio of 28.43, a P/E/G ratio of 1.76 and a beta of 0.99. Charles Schwab has a 52-week low of $59.67 and a 52-week high of $83.35. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.47 and a current ratio of 0.47.

Charles Schwab (NYSE:SCHW) last announced 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 business had revenue of $4.85 billion for the quarter, compared to analysts’ expectations of $4.78 billion. Charles Schwab had a net margin of 27.47% and a return on equity of 16.92%. The business’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.77 EPS. Analysts forecast that Charles Schwab will post 3.12 EPS for the current year.

Insider Activity at Charles Schwab

In other Charles Schwab news, insider Jonathan S. Beatty sold 2,300 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $82.01, for a total transaction of $188,623.00. Following the completion of the sale, the insider now owns 18,069 shares in the company, valued at $1,481,838.69. This trade represents a 11.29 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Nigel J. Murtagh sold 12,739 shares of the stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $81.17, for a total value of $1,034,024.63. Following the transaction, the insider now owns 59,092 shares of the company’s stock, valued at approximately $4,796,497.64. This trade represents a 17.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 118,968 shares of company stock worth $8,842,821. 6.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On Charles Schwab

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SCHW. Capital Performance Advisors LLP acquired a new stake in shares of Charles Schwab during the third quarter worth approximately $25,000. Washington Trust Advisors Inc. boosted its holdings in shares of Charles Schwab by 62.6% in the 3rd quarter. Washington Trust Advisors Inc. now owns 387 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 149 shares in the last quarter. Prospera Private Wealth LLC acquired a new position in Charles Schwab during the 3rd quarter worth $31,000. Future Financial Wealth Managment LLC bought a new stake in shares of Charles Schwab during the 3rd quarter valued at $32,000. Finally, Planning Capital Management Corp acquired a new stake in Charles Schwab during the 3rd quarter worth $33,000. Institutional investors own 84.38% of the company’s stock.

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.