Charles Schwab (NYSE:SCHW) was upgraded by stock analysts at Citigroup from a “sell” rating to a “neutral” rating in a research report issued to clients and investors on Sunday. The firm currently has a $44.08 price target on the financial services provider’s stock. Citigroup’s price objective suggests a potential downside of 1.61% from the stock’s current price.
Other analysts also recently issued reports about the stock. Morgan Stanley set a $70.00 price target on shares of Charles Schwab and gave the stock a “buy” rating in a report on Tuesday, September 18th. Zacks Investment Research raised shares of Charles Schwab from a “hold” rating to a “buy” rating and set a $55.00 price target on the stock in a report on Wednesday, October 3rd. Deutsche Bank raised shares of Charles Schwab from a “hold” rating to a “buy” rating and increased their price target for the stock from $52.00 to $54.00 in a report on Tuesday, October 30th. Goldman Sachs Group started coverage on shares of Charles Schwab in a report on Friday. They set a “buy” rating and a $55.00 price target on the stock. Finally, UBS Group downgraded shares of Charles Schwab from a “buy” rating to a “neutral” rating in a report on Monday, November 19th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have given a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $56.94.
NYSE SCHW traded up $0.64 during mid-day trading on Friday, reaching $44.80. 13,690,676 shares of the stock were exchanged, compared to its average volume of 7,158,809. Charles Schwab has a 1 year low of $42.01 and a 1 year high of $60.22. The company has a market capitalization of $60.50 billion, a PE ratio of 27.32, a price-to-earnings-growth ratio of 1.12 and a beta of 1.48. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.29 and a current ratio of 0.29.
Charles Schwab (NYSE:SCHW) last announced its quarterly earnings results on Monday, October 15th. The financial services provider reported $0.65 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.65. Charles Schwab had a net margin of 32.65% and a return on equity of 19.02%. The firm had revenue of $2.58 billion for the quarter, compared to the consensus estimate of $2.58 billion. During the same period in the prior year, the firm posted $0.42 earnings per share. The firm’s quarterly revenue was up 19.1% compared to the same quarter last year. On average, equities analysts expect that Charles Schwab will post 2.44 EPS for the current year.
Charles Schwab declared that its board has authorized a share buyback program on Thursday, October 25th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the financial services provider to purchase up to 1.7% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its stock is undervalued.
In other Charles Schwab news, insider Marie A. Chandoha sold 8,424 shares of the company’s stock in a transaction on Tuesday, October 16th. The shares were sold at an average price of $48.01, for a total transaction of $404,436.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Marie A. Chandoha sold 12,400 shares of the company’s stock in a transaction on Monday, November 5th. The stock was sold at an average price of $47.18, for a total transaction of $585,032.00. The disclosure for this sale can be found here. Insiders have sold 406,453 shares of company stock valued at $19,107,379 over the last 90 days. 11.50% of the stock is currently owned by company insiders.
A number of large investors have recently bought and sold shares of SCHW. Vanguard Group Inc. raised its position in shares of Charles Schwab by 0.9% in the third quarter. Vanguard Group Inc. now owns 88,586,138 shares of the financial services provider’s stock valued at $4,354,008,000 after buying an additional 820,257 shares during the last quarter. BlackRock Inc. raised its position in shares of Charles Schwab by 2.6% in the third quarter. BlackRock Inc. now owns 86,976,839 shares of the financial services provider’s stock valued at $4,274,909,000 after buying an additional 2,179,682 shares during the last quarter. FMR LLC raised its position in shares of Charles Schwab by 13.7% in the second quarter. FMR LLC now owns 65,193,384 shares of the financial services provider’s stock valued at $3,331,382,000 after buying an additional 7,868,551 shares during the last quarter. Edgewood Management LLC raised its position in shares of Charles Schwab by 1.6% in the third quarter. Edgewood Management LLC now owns 21,966,947 shares of the financial services provider’s stock valued at $1,079,675,000 after buying an additional 349,106 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position in shares of Charles Schwab by 0.9% in the third quarter. Bank of New York Mellon Corp now owns 12,675,853 shares of the financial services provider’s stock valued at $623,016,000 after buying an additional 108,436 shares during 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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