Charles Schwab (NYSE:SCHW) had its price objective raised by equities researchers at Argus from $59.00 to $69.00 in a report released on Thursday. The firm currently has a “buy” rating on the financial services provider’s stock. Argus’ price target suggests a potential upside of 24.37% from the stock’s previous close.
Several other research firms have also recently weighed in on SCHW. BidaskClub upgraded Charles Schwab from a “hold” rating to a “buy” rating in a report on Tuesday, September 26th. Wells Fargo & Co reiterated a “market perform” rating and issued a $55.00 target price (up from $47.00) on shares of Charles Schwab in a report on Thursday, January 4th. JMP Securities cut Charles Schwab from an “outperform” rating to a “market perform” rating in a report on Wednesday, January 3rd. Credit Suisse Group reiterated a “buy” rating and issued a $64.00 target price (up from $55.00) on shares of Charles Schwab in a report on Friday, January 12th. Finally, Barclays upped their target price on Charles Schwab from $48.00 to $51.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 10th. Seven analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $54.00.
Shares of Charles Schwab (NYSE:SCHW) traded up $0.15 during mid-day trading on Thursday, reaching $55.48. 7,368,346 shares of the company’s stock traded hands, compared to its average volume of 6,260,000. The company has a quick ratio of 0.30, a current ratio of 0.31 and a debt-to-equity ratio of 0.21. The firm has a market cap of $74,290.00, a P/E ratio of 34.46, a P/E/G ratio of 1.36 and a beta of 1.75. Charles Schwab has a 52-week low of $37.16 and a 52-week high of $56.25.
Charles Schwab (NYSE:SCHW) last issued its quarterly earnings results on Wednesday, January 17th. The financial services provider reported $0.44 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.03. Charles Schwab had a net margin of 27.32% and a return on equity of 16.31%. The company had revenue of $2.24 billion during the quarter, compared to analysts’ expectations of $2.24 billion. During the same period last year, the business earned $0.36 EPS. The business’s quarterly revenue was up 13.7% on a year-over-year basis. sell-side analysts forecast that Charles Schwab will post 2.39 earnings per share for the current year.
In other news, CFO Peter B. Crawford sold 1,063 shares of Charles Schwab stock in a transaction that occurred on Monday, November 6th. The stock was sold at an average price of $44.64, for a total value of $47,452.32. Following the sale, the chief financial officer now directly owns 11,302 shares in the company, valued at approximately $504,521.28. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Chairman Charles R. Schwab sold 350,000 shares of Charles Schwab stock in a transaction that occurred on Thursday, November 16th. The stock was sold at an average price of $44.65, for a total value of $15,627,500.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,958,531 shares of company stock worth $93,990,901. 12.00% of the stock is currently owned by insiders.
A number of large investors have recently made changes to their positions in the business. Cubist Systematic Strategies LLC boosted its position in Charles Schwab by 317.6% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 51,701 shares of the financial services provider’s stock valued at $2,221,000 after acquiring an additional 39,321 shares in the last quarter. CIBC World Markets Inc. purchased a new stake in shares of Charles Schwab during the 2nd quarter valued at approximately $282,000. CAPROCK Group Inc. raised its position in shares of Charles Schwab by 22.3% during the 3rd quarter. CAPROCK Group Inc. now owns 6,532 shares of the financial services provider’s stock valued at $286,000 after buying an additional 1,190 shares during the period. Northern Trust Corp raised its position in shares of Charles Schwab by 8.8% during the 2nd quarter. Northern Trust Corp now owns 16,795,035 shares of the financial services provider’s stock valued at $721,515,000 after buying an additional 1,361,516 shares during the period. Finally, Sentry Investment Management LLC raised its position in shares of Charles Schwab by 11.6% during the 2nd quarter. Sentry Investment Management LLC now owns 96,298 shares of the financial services provider’s stock valued at $4,137,000 after buying an additional 9,971 shares during the period. Institutional investors and hedge funds own 79.59% of the company’s stock.
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.