Charles Schwab (SCHW) Given New $56.00 Price Target at SunTrust Banks
Charles Schwab (NYSE:SCHW) had its price objective raised by equities research analysts at SunTrust Banks to $56.00 in a research report issued on Friday, The Fly reports. The firm presently has an “average” rating on the financial services provider’s stock. SunTrust Banks’ price target points to a potential upside of 11.55% from the stock’s current price. The analysts noted that the move was a valuation call.
Other equities analysts have also recently issued research reports about the stock. Keefe, Bruyette & Woods restated a “buy” rating and issued a $47.00 price objective on shares of Charles Schwab in a research note on Friday, September 15th. Jefferies Group reiterated a “buy” rating and set a $49.00 target price on shares of Charles Schwab in a research report on Friday, September 15th. BidaskClub upgraded shares of Charles Schwab from a “hold” rating to a “buy” rating in a research report on Tuesday, September 26th. Deutsche Bank increased their target price on shares of Charles Schwab from $46.00 to $47.00 and gave the stock a “hold” rating in a research report on Wednesday, October 25th. Finally, Credit Suisse Group initiated coverage on shares of Charles Schwab in a research report on Thursday, November 30th. They set an “outperform” rating and a $55.00 target price for the company. Seven investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Charles Schwab currently has an average rating of “Buy” and a consensus target price of $48.31.
Shares of Charles Schwab (NYSE SCHW) traded down $0.13 during mid-day trading on Friday, hitting $50.20. 6,911,500 shares of the stock were exchanged, compared to its average volume of 7,076,034. Charles Schwab has a 52 week low of $37.16 and a 52 week high of $51.98. The firm has a market cap of $67,471.20, a PE ratio of 32.26, a price-to-earnings-growth ratio of 2.14 and a beta of 1.74. The company has a current ratio of 0.31, a quick ratio of 0.30 and a debt-to-equity ratio of 0.21.
Charles Schwab (NYSE:SCHW) last announced its quarterly earnings data on Wednesday, October 18th. The financial services provider reported $0.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $0.01. Charles Schwab had a net margin of 27.30% and a return on equity of 15.77%. The company had revenue of $2.17 billion during the quarter, compared to analysts’ expectations of $2.18 billion. During the same quarter in the prior year, the company posted $0.35 EPS. The business’s revenue was up 13.1% on a year-over-year basis. research analysts forecast that Charles Schwab will post 1.62 EPS for the current year.
In other Charles Schwab news, Chairman Charles R. Schwab sold 350,000 shares of the firm’s stock in a transaction dated Thursday, November 16th. The shares were sold at an average price of $44.65, for a total value of $15,627,500.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Peter B. Crawford sold 1,063 shares of the firm’s stock in a transaction dated Monday, November 6th. The shares were sold at an average price of $44.64, for a total transaction of $47,452.32. Following the completion of the sale, the chief financial officer now owns 11,302 shares of the company’s stock, valued at approximately $504,521.28. The disclosure for this sale can be found here. Insiders sold a total of 1,778,324 shares of company stock valued at $82,710,964 in the last 90 days. Corporate insiders own 12.00% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the business. Summit Asset Management LLC boosted its stake in shares of Charles Schwab by 0.6% in the 2nd quarter. Summit Asset Management LLC now owns 12,158 shares of the financial services provider’s stock valued at $522,000 after purchasing an additional 70 shares during the last quarter. Ballentine Partners LLC boosted its stake in shares of Charles Schwab by 0.7% in the 2nd quarter. Ballentine Partners LLC now owns 12,689 shares of the financial services provider’s stock valued at $544,000 after purchasing an additional 93 shares during the last quarter. Raymond James Trust N.A. boosted its stake in shares of Charles Schwab by 1.7% in the 2nd quarter. Raymond James Trust N.A. now owns 8,618 shares of the financial services provider’s stock valued at $371,000 after purchasing an additional 144 shares during the last quarter. Traynor Capital Management Inc. boosted its stake in shares of Charles Schwab by 2.6% in the 2nd quarter. Traynor Capital Management Inc. now owns 6,560 shares of the financial services provider’s stock valued at $279,000 after purchasing an additional 166 shares during the last quarter. Finally, Alpine Global Management LLC boosted its stake in shares of Charles Schwab by 2.9% in the 2nd quarter. Alpine Global Management LLC now owns 6,900 shares of the financial services provider’s stock valued at $296,000 after purchasing an additional 193 shares during the last quarter. Hedge funds and other institutional investors own 79.84% of the company’s stock.
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Charles Schwab 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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