Charles Schwab Corp (SCHW) Rating Reiterated by Deutsche Bank AG
Charles Schwab Corp (NYSE:SCHW)‘s stock had its “buy” rating reissued by Deutsche Bank AG in a report issued on Monday. They presently have a $45.00 price target on the financial services provider’s stock, up from their previous price target of $44.00. Deutsche Bank AG’s price target would suggest a potential upside of 13.61% from the company’s previous close.
A number of other equities research analysts have also recently commented on the stock. Citigroup Inc reiterated a “buy” rating and set a $43.00 price target (down previously from $45.00) on shares of Charles Schwab Corp in a report on Saturday, April 22nd. Bank of America Corp reiterated a “buy” rating and set a $47.00 price target on shares of Charles Schwab Corp in a report on Friday, March 3rd. SunTrust Banks, Inc. increased their price target on shares of Charles Schwab Corp from $44.00 to $45.00 and gave the company a “buy” rating in a report on Tuesday, March 14th. Instinet reiterated a “conviction-buy” rating and set a $46.00 price target (up previously from $44.00) on shares of Charles Schwab Corp in a report on Friday, April 14th. Finally, Zacks Investment Research cut shares of Charles Schwab Corp from a “buy” rating to a “hold” rating in a report on Wednesday, February 8th. Two investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Charles Schwab Corp presently has a consensus rating of “Buy” and an average target price of $41.75.
Charles Schwab Corp (NYSE:SCHW) traded up 1.51% during trading on Monday, reaching $40.21. The company’s stock had a trading volume of 2,123,479 shares. The firm has a market cap of $53.77 billion, a PE ratio of 28.52 and a beta of 1.78. Charles Schwab Corp has a one year low of $23.83 and a one year high of $43.65. The company has a 50-day moving average of $39.61 and a 200 day moving average of $39.43.
Charles Schwab Corp (NYSE:SCHW) last posted its quarterly earnings results on Tuesday, April 18th. The financial services provider reported $0.39 EPS for the quarter, beating the Zacks’ consensus estimate of $0.37 by $0.02. Charles Schwab Corp had a net margin of 25.26% and a return on equity of 14.65%. The firm had revenue of $2.08 billion for the quarter, compared to analysts’ expectations of $2.06 billion. During the same quarter in the prior year, the company posted $0.29 earnings per share. The business’s revenue for the quarter was up 18.0% on a year-over-year basis. Analysts expect that Charles Schwab Corp will post $1.63 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, May 26th. Shareholders of record on Friday, May 12th will be given a $0.08 dividend. The ex-dividend date is Wednesday, May 10th. This represents a $0.32 annualized dividend and a yield of 0.81%. Charles Schwab Corp’s payout ratio is presently 24.62%.
In other Charles Schwab Corp news, Director Mark A. Goldfarb purchased 1,850 shares of the firm’s stock in a transaction on Thursday, April 27th. The shares were acquired at an average cost of $26.97 per share, for a total transaction of $49,894.50. Following the completion of the transaction, the director now owns 1,850 shares of the company’s stock, valued at $49,894.50. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Chairman Charles R. Schwab sold 738,000 shares of the stock in a transaction that occurred on Wednesday, February 15th. The stock was sold at an average price of $41.58, for a total transaction of $30,686,040.00. The disclosure for this sale can be found here. Insiders sold 1,172,244 shares of company stock worth $48,267,119 over the last quarter. Insiders own 12.60% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SCHW. Dodge & Cox increased its position in Charles Schwab Corp by 0.4% in the first quarter. Dodge & Cox now owns 103,001,887 shares of the financial services provider’s stock valued at $2,886,113,000 after buying an additional 379,250 shares during the last quarter. Vanguard Group Inc. increased its position in Charles Schwab Corp by 4.0% in the first quarter. Vanguard Group Inc. now owns 79,388,639 shares of the financial services provider’s stock valued at $3,239,850,000 after buying an additional 3,063,203 shares during the last quarter. BlackRock Inc. increased its position in Charles Schwab Corp by 1,921.5% in the first quarter. BlackRock Inc. now owns 71,876,119 shares of the financial services provider’s stock valued at $2,933,263,000 after buying an additional 68,320,480 shares during the last quarter. State Street Corp increased its position in Charles Schwab Corp by 7.3% in the fourth quarter. State Street Corp now owns 61,155,943 shares of the financial services provider’s stock valued at $2,413,822,000 after buying an additional 4,153,309 shares during the last quarter. Finally, BlackRock Institutional Trust Company N.A. increased its position in Charles Schwab Corp by 3.1% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 33,656,315 shares of the financial services provider’s stock valued at $1,062,530,000 after buying an additional 997,066 shares during the last quarter. Institutional investors and hedge funds own 78.34% of the company’s stock.
Charles Schwab Corp Company Profile
The Charles Schwab Corporation (CSC) 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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