Analysts at Goldman Sachs Group began coverage on shares of Charles Schwab (NYSE:SCHW) in a research note issued on Friday, The Fly reports. The brokerage set a “buy” rating on the financial services provider’s stock.
Several other equities research analysts have also recently weighed in on SCHW. Morgan Stanley dropped their price target on shares of Charles Schwab from $66.00 to $60.00 and set a “buy” rating for the company in a research report on Wednesday, November 14th. Citigroup raised shares of Charles Schwab from a “sell” rating to a “neutral” rating in a research report on Monday. UBS Group cut shares of Charles Schwab from a “buy” rating to a “neutral” rating in a research report on Monday, November 19th. Raymond James raised shares of Charles Schwab from a “market perform” rating to an “outperform” rating and set a $54.00 price target for the company in a research report on Tuesday, October 30th. They noted that the move was a valuation call. Finally, Deutsche Bank raised shares of Charles Schwab from a “hold” rating to a “buy” rating and increased their price target for the company from $52.00 to $54.00 in a research report on Tuesday, October 30th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $57.33.
Shares of SCHW opened at $44.16 on Friday. The firm has a market cap of $61.66 billion, a price-to-earnings ratio of 26.93, a PEG ratio of 1.14 and a beta of 1.48. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.29 and a quick ratio of 0.29. Charles Schwab has a twelve month low of $42.01 and a twelve month high of $60.22.
Charles Schwab (NYSE:SCHW) last announced its quarterly earnings results on Monday, October 15th. The financial services provider reported $0.65 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.65. The business had revenue of $2.58 billion during the quarter, compared to analysts’ expectations of $2.58 billion. Charles Schwab had a net margin of 32.65% and a return on equity of 19.02%. The firm’s revenue for the quarter was up 19.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.42 EPS. As a group, equities research analysts forecast that Charles Schwab will post 2.44 EPS for the current fiscal year.
Charles Schwab declared that its Board of Directors has approved a stock buyback program on Thursday, October 25th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the financial services provider to purchase up to 1.7% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s management believes its shares are undervalued.
In related news, insider Marie A. Chandoha sold 12,400 shares of the stock in a transaction dated Monday, November 5th. The shares were sold at an average price of $47.18, for a total value of $585,032.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Charles R. Schwab sold 383,000 shares of the stock in a transaction dated Thursday, November 15th. The stock was sold at an average price of $46.97, for a total transaction of $17,989,510.00. The disclosure for this sale can be found here. Insiders sold a total of 406,453 shares of company stock valued at $19,107,379 over the last 90 days. Company insiders own 11.50% of the company’s stock.
Institutional investors have recently modified their holdings of the stock. LFA Lugano Financial Advisors SA bought a new position in shares of Charles Schwab in the 3rd quarter worth about $111,000. Sapphire Star Partners LP bought a new position in shares of Charles Schwab in the 3rd quarter worth about $123,000. Point72 Hong Kong Ltd bought a new position in shares of Charles Schwab in the 2nd quarter worth about $134,000. Zions Bancorporation bought a new position in shares of Charles Schwab in the 3rd quarter worth about $136,000. Finally, Sun Life Financial INC increased its stake in shares of Charles Schwab by 1,041.8% in the 2nd quarter. Sun Life Financial INC now owns 3,254 shares of the financial services provider’s stock worth $166,000 after acquiring an additional 2,969 shares in the last quarter. Institutional investors own 80.32% of the company’s stock.
Charles Schwab Company Profile
The Charles Schwab Corporation, through its subsidiaries, provides wealth management, securities brokerage, banking, asset management, custody, and financial advisory services. The company operates through two segments, Investor Services and Advisor Services. The Investor Services segment provides retail brokerage and banking services, retirement plan services, and other corporate brokerage services; equity compensation plan sponsors full-service recordkeeping for stock plans, stock options, restricted stock, performance shares, and stock appreciation rights; and retail investor, retirement plan, and mutual fund clearing services.
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