The Charles Schwab Corp. (SCHW) Rating Reiterated by Wells Fargo & Co.
The Charles Schwab Corp. (NYSE:SCHW)‘s stock had its “market perform” rating reiterated by equities researchers at Wells Fargo & Co. in a report released on Tuesday.
SCHW has been the topic of several other reports. Morgan Stanley initiated coverage on The Charles Schwab Corp. in a research report on Monday, September 26th. They set an “overweight” rating and a $37.00 price objective on the stock. Bank of America Corp. upgraded The Charles Schwab Corp. from a “neutral” rating to a “buy” rating and increased their price objective for the company from $21.51 to $38.00 in a research report on Thursday, October 13th. Zacks Investment Research lowered The Charles Schwab Corp. from a “hold” rating to a “sell” rating in a research report on Monday, June 27th. Jefferies Group reiterated a “buy” rating on shares of The Charles Schwab Corp. in a research report on Friday, August 5th. Finally, Credit Suisse Group AG restated a “buy” rating and set a $32.00 price target on shares of The Charles Schwab Corp. in a research report on Monday, October 10th. Three equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. The Charles Schwab Corp. has a consensus rating of “Buy” and an average price target of $33.57.
Shares of The Charles Schwab Corp. (NYSE:SCHW) traded up 1.42% during trading on Tuesday, reaching $32.14. The company’s stock had a trading volume of 8,671,579 shares. The Charles Schwab Corp. has a 52-week low of $21.51 and a 52-week high of $34.52. The stock’s 50 day moving average price is $31.24 and its 200-day moving average price is $29.12. The stock has a market cap of $42.52 billion, a price-to-earnings ratio of 27.71 and a beta of 1.55.
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The Charles Schwab Corp. (NYSE:SCHW) last announced its quarterly earnings data on Monday, October 17th. The company reported $0.35 EPS for the quarter, beating the consensus estimate of $0.33 by $0.02. The firm had revenue of $1.91 billion for the quarter, compared to analyst estimates of $1.89 billion. The Charles Schwab Corp. had a return on equity of 13.03% and a net margin of 24.07%. The company’s revenue was up 19.8% on a year-over-year basis. During the same period in the prior year, the company earned $0.27 EPS. Equities analysts anticipate that The Charles Schwab Corp. will post $1.26 EPS for the current year.
In related news, insider Marie A. Chandoha sold 6,076 shares of the firm’s stock in a transaction that occurred on Tuesday, October 4th. The stock was sold at an average price of $32.00, for a total transaction of $194,432.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Nigel J. Murtagh sold 2,500 shares of the firm’s stock in a transaction that occurred on Friday, August 5th. The shares were sold at an average price of $29.72, for a total value of $74,300.00. Following the transaction, the executive vice president now directly owns 35,137 shares of the company’s stock, valued at approximately $1,044,271.64. The disclosure for this sale can be found here. Corporate insiders own 12.60% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. NN Investment Partners Holdings N.V. bought a new position in The Charles Schwab Corp. during the first quarter worth $204,000. Menta Capital LLC raised its position in The Charles Schwab Corp. by 376.1% in the first quarter. Menta Capital LLC now owns 31,900 shares of the company’s stock worth $894,000 after buying an additional 25,200 shares during the period. Meiji Yasuda Asset Management Co Ltd. bought a new position in The Charles Schwab Corp. during the first quarter worth $345,000. BB&T Securities LLC raised its position in The Charles Schwab Corp. by 27.1% in the first quarter. BB&T Securities LLC now owns 87,165 shares of the company’s stock worth $2,442,000 after buying an additional 18,580 shares during the period. Finally, Cypress Wealth Advisors LLC raised its position in The Charles Schwab Corp. by 0.4% in the first quarter. Cypress Wealth Advisors LLC now owns 18,183 shares of the company’s stock worth $509,000 after buying an additional 64 shares during the period. 76.48% of the stock is owned by institutional investors.
About The Charles Schwab Corp.
The Charles Schwab Corporation is a savings and loan holding company. The Company, through its subsidiaries, engages in wealth management, securities brokerage, banking, money management and financial advisory services. The Company provides financial services to individuals and institutional clients through two segments: Investor Services and Advisor Services.
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