Charles Schwab (NYSE:SCHW) was downgraded by equities researchers at Keefe, Bruyette & Woods from an “outperform” rating to a “market perform” rating in a report issued on Friday, The Fly reports.
A number of other equities research analysts also recently commented on the company. Morgan Stanley increased their price objective on Visa from $175.00 to $191.00 and gave the company an “overweight” rating in a research report on Thursday. Wells Fargo & Co reiterated a “hold” rating on shares of AON in a research report on Friday, April 5th. JPMorgan Chase & Co. set a $44.00 price objective on Charles Schwab and gave the company a “buy” rating in a research report on Friday, June 21st. ValuEngine downgraded Virtu Financial from a “hold” rating to a “sell” rating in a research report on Tuesday, June 18th. Finally, Deutsche Bank reiterated a “buy” rating and set a GBX 4,000 ($52.27) price objective on shares of in a research report on Tuesday, June 18th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $49.39.
Shares of NYSE:SCHW opened at $40.46 on Friday. Charles Schwab has a one year low of $37.83 and a one year high of $54.26. The firm’s fifty day moving average is $41.47. The firm has a market cap of $52.95 billion, a P/E ratio of 16.51, a PEG ratio of 1.86 and a beta of 1.23. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.33 and a quick ratio of 0.33.
Charles Schwab (NYSE:SCHW) last announced its quarterly earnings data on Monday, April 15th. The financial services provider reported $0.69 EPS for the quarter, beating analysts’ consensus estimates of $0.66 by $0.03. Charles Schwab had a return on equity of 20.47% and a net margin of 35.27%. The company had revenue of $2.72 billion during the quarter, compared to the consensus estimate of $2.67 billion. During the same quarter in the prior year, the firm earned $0.55 EPS. The company’s quarterly revenue was up 13.6% compared to the same quarter last year. As a group, research analysts expect that Charles Schwab will post 2.72 earnings per share for the current fiscal year.
In other news, 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 value of $191,010.60. Following the completion of the sale, the director now owns 7,592 shares in the company, valued at $332,909.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Stephen T. Mclin sold 4,000 shares of the stock in a transaction on Tuesday, April 16th. The shares were sold at an average price of $45.59, for a total value of $182,360.00. Following the completion of the sale, the director now owns 7,592 shares of the company’s stock, valued at approximately $346,119.28. The disclosure for this sale can be found here. Insiders sold 841,576 shares of company stock valued at $38,416,671 in the last 90 days. Corporate insiders own 10.90% of the company’s stock.
Several large investors have recently made changes to their positions in the stock. Northern Trust Corp raised its holdings in shares of Charles Schwab by 0.3% during the first quarter. Northern Trust Corp now owns 16,708,657 shares of the financial services provider’s stock worth $714,463,000 after acquiring an additional 52,865 shares in the last quarter. Clearbridge Investments LLC raised its holdings in shares of Charles Schwab by 24.0% during the first quarter. Clearbridge Investments LLC now owns 14,863,818 shares of the financial services provider’s stock worth $635,577,000 after acquiring an additional 2,880,846 shares in the last quarter. Harris Associates L P raised its holdings in shares of Charles Schwab by 197.1% during the fourth quarter. Harris Associates L P now owns 13,940,097 shares of the financial services provider’s stock worth $578,932,000 after acquiring an additional 9,248,471 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of 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 worth $564,801,000 after acquiring an additional 758,069 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of Charles Schwab during the fourth quarter worth $443,292,000. Institutional investors and hedge funds own 78.92% of the company’s stock.
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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