Other analysts have also issued research reports about the stock. JPMorgan Chase & Co. set a $44.00 target price on shares of Charles Schwab and gave the stock a “buy” rating in a report on Friday, June 21st. Wells Fargo & Co reaffirmed a “hold” rating on shares of AON in a report on Friday, April 5th. Keefe, Bruyette & Woods raised shares of Focus Financial Partners from a “market perform” rating to an “outperform” rating in a report on Friday. Citigroup lowered shares of Apergy from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $41.00 to $34.00 in a report on Tuesday. Finally, ValuEngine lowered shares of Virtu Financial from a “hold” rating to a “sell” rating in a report on Tuesday, June 18th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have assigned a buy rating to the company. Charles Schwab has a consensus rating of “Hold” and an average target price of $49.39.
NYSE SCHW opened at $40.46 on Friday. The company has a 50 day simple moving average of $41.47. Charles Schwab has a 12-month low of $37.83 and a 12-month high of $54.26. The company has a current ratio of 0.33, a quick ratio of 0.33 and a debt-to-equity ratio of 0.36. The company has a market capitalization of $52.95 billion, a price-to-earnings ratio of 16.51, a P/E/G ratio of 1.86 and a beta of 1.23.
Charles Schwab (NYSE:SCHW) last posted its quarterly earnings results on Monday, April 15th. The financial services provider reported $0.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.66 by $0.03. The company had revenue of $2.72 billion for the quarter, compared to analyst estimates of $2.67 billion. Charles Schwab had a net margin of 35.27% and a return on equity of 20.47%. The company’s quarterly revenue was up 13.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.55 earnings per share. As a group, equities research analysts expect that Charles Schwab will post 2.72 earnings per share for the current fiscal year.
In other news, EVP Jonathan M. Craig sold 3,740 shares of the stock in a transaction on Monday, April 15th. The shares were sold at an average price of $46.52, for a total value of $173,984.80. Following the transaction, the executive vice president now owns 66,190 shares of the company’s stock, valued at approximately $3,079,158.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Stephen T. Mclin sold 4,356 shares of the stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $43.85, for a total transaction of $191,010.60. Following the completion of the transaction, the director now directly owns 7,592 shares in the company, valued at approximately $332,909.20. The disclosure for this sale can be found here. Insiders sold a total of 841,576 shares of company stock worth $38,416,671 in the last three months. Insiders own 10.90% of the company’s stock.
Large investors have recently modified their holdings of the company. Comerica Securities Inc. lifted its stake in shares of Charles Schwab by 5.4% in the fourth quarter. Comerica Securities Inc. now owns 40,063 shares of the financial services provider’s stock worth $1,664,000 after acquiring an additional 2,065 shares in the last quarter. Commonwealth Bank of Australia raised its stake in Charles Schwab by 3.2% during the fourth quarter. Commonwealth Bank of Australia now owns 12,611 shares of the financial services provider’s stock valued at $521,000 after buying an additional 388 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in Charles Schwab by 2.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,723,959 shares of the financial services provider’s stock valued at $113,124,000 after buying an additional 76,982 shares in the last quarter. Geode Capital Management LLC raised its stake in Charles Schwab by 5.9% during the fourth quarter. Geode Capital Management LLC now owns 13,627,245 shares of the financial services provider’s stock valued at $564,801,000 after buying an additional 758,069 shares in the last quarter. Finally, Claybrook Capital LLC acquired a new stake in Charles Schwab during the fourth quarter valued at approximately $108,000. 78.92% of the stock is currently owned by hedge funds and other institutional investors.
About Charles Schwab
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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