Stock analysts at Barclays PLC initiated coverage on shares of The Charles Schwab Corporation (NYSE:SCHW) in a report issued on Friday, MarketBeat Ratings reports. The firm set an “overweight” rating and a $48.00 price target on the financial services provider’s stock. Barclays PLC’s price objective suggests a potential upside of 24.10% from the stock’s previous close.

Several other research firms also recently commented on SCHW. Deutsche Bank AG downgraded shares of The Charles Schwab Corporation from a “buy” rating to a “hold” rating and lifted their price objective for the stock from $40.00 to $43.00 in a research note on Tuesday, July 11th. Morgan Stanley reiterated an “overweight” rating and set a $48.00 price objective (up from $45.00) on shares of The Charles Schwab Corporation in a research note on Monday, July 10th. Rosenblatt Securities assumed coverage on shares of The Charles Schwab Corporation in a research note on Thursday, July 13th. They set a “neutral” rating and a $46.00 price objective for the company. Citigroup Inc. assumed coverage on shares of The Charles Schwab Corporation in a research note on Thursday, July 13th. They set a “neutral” rating and a $46.00 price objective for the company. Finally, BidaskClub downgraded shares of The Charles Schwab Corporation from a “buy” rating to a “hold” rating in a research note on Wednesday, July 19th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and twelve have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $44.72.

The Charles Schwab Corporation (SCHW) traded up 1.50% during trading on Friday, hitting $38.68. The stock had a trading volume of 6,466,377 shares. The Charles Schwab Corporation has a 12 month low of $29.86 and a 12 month high of $44.10. The stock has a market cap of $51.80 billion, a price-to-earnings ratio of 25.96 and a beta of 1.64. The firm has a 50 day moving average of $40.91 and a 200-day moving average of $40.86.

The Charles Schwab Corporation (NYSE:SCHW) last posted its quarterly earnings data on Tuesday, July 18th. The financial services provider reported $0.39 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.39. The Charles Schwab Corporation had a net margin of 26.73% and a return on equity of 15.41%. The business had revenue of $2.13 billion during the quarter, compared to the consensus estimate of $2.13 billion. During the same period in the previous year, the firm posted $0.30 earnings per share. The business’s revenue for the quarter was up 16.5% compared to the same quarter last year. Equities analysts predict that The Charles Schwab Corporation will post $1.61 earnings per share for the current year.

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In other news, Chairman Charles R. Schwab sold 26,000 shares of the business’s stock in a transaction dated Monday, July 31st. The shares were sold at an average price of $42.80, for a total transaction of $1,112,800.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Charles R. Schwab sold 350,000 shares of the business’s stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $43.10, for a total transaction of $15,085,000.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 925,122 shares of company stock valued at $39,733,977. Insiders own 12.00% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in shares of The Charles Schwab Corporation by 3.2% during the second quarter. Vanguard Group Inc. now owns 81,925,586 shares of the financial services provider’s stock worth $3,519,523,000 after purchasing an additional 2,536,947 shares in the last quarter. BlackRock Inc. increased its stake in shares of The Charles Schwab Corporation by 2.5% during the second quarter. BlackRock Inc. now owns 73,666,134 shares of the financial services provider’s stock worth $3,164,699,000 after purchasing an additional 1,790,015 shares in the last quarter. JPMorgan Chase & Co. increased its stake in shares of The Charles Schwab Corporation by 1.3% during the second quarter. JPMorgan Chase & Co. now owns 39,576,199 shares of the financial services provider’s stock worth $1,700,193,000 after purchasing an additional 491,451 shares in the last quarter. FMR LLC increased its stake in shares of The Charles Schwab Corporation by 11.3% during the second quarter. FMR LLC now owns 30,766,004 shares of the financial services provider’s stock worth $1,321,708,000 after purchasing an additional 3,128,532 shares in the last quarter. Finally, Capital Research Global Investors increased its stake in shares of The Charles Schwab Corporation by 86.3% during the second quarter. Capital Research Global Investors now owns 24,237,199 shares of the financial services provider’s stock worth $1,041,230,000 after purchasing an additional 11,224,199 shares in the last quarter. 79.60% of the stock is owned by institutional investors and hedge funds.

About The Charles Schwab Corporation

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.

Analyst Recommendations for The Charles Schwab Corporation (NYSE:SCHW)

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