Charles Schwab (NYSE:SCHW) Given New $89.00 Price Target at JPMorgan Chase & Co.

Charles Schwab (NYSE:SCHW) had its price target hoisted by JPMorgan Chase & Co. from $86.00 to $89.00 in a research note issued to investors on Tuesday, Benzinga reports. The brokerage currently has an overweight rating on the financial services provider’s stock.

A number of other brokerages have also recently commented on SCHW. Piper Sandler upped their price target on Charles Schwab from $75.00 to $78.00 and gave the stock an overweight rating in a research report on Friday, April 12th. Citigroup upped their price target on Charles Schwab from $70.00 to $75.00 and gave the stock a neutral rating in a research report on Thursday, April 11th. TD Cowen upgraded Charles Schwab from a market perform rating to an outperform rating and set a $87.00 price target for the company in a research report on Friday, March 22nd. Raymond James reduced their price target on Charles Schwab from $78.00 to $75.00 and set an outperform rating for the company in a research report on Thursday, January 18th. Finally, StockNews.com upgraded Charles Schwab from a sell rating to a hold rating in a research report on Friday, March 15th. Three analysts have rated the stock with a sell rating, six have given a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of Hold and an average target price of $74.47.

Charles Schwab Stock Up 2.6 %

SCHW stock opened at $73.05 on Tuesday. Charles Schwab has a fifty-two week low of $45.65 and a fifty-two week high of $73.65. The business’s 50-day moving average is $67.97 and its two-hundred day moving average is $62.75. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.43 and a current ratio of 0.43. The company has a market cap of $129.74 billion, a price-to-earnings ratio of 28.76, a P/E/G ratio of 1.06 and a beta of 1.01.

Charles Schwab (NYSE:SCHW) last posted its earnings results on Wednesday, January 17th. The financial services provider reported $0.68 earnings per share for the quarter, beating analysts’ consensus estimates of $0.64 by $0.04. Charles Schwab had a return on equity of 21.33% and a net margin of 26.90%. The company had revenue of $4.46 billion for the quarter, compared to the consensus estimate of $4.49 billion. During the same quarter in the prior year, the company earned $1.07 earnings per share. Charles Schwab’s revenue was down 18.9% on a year-over-year basis. As a group, analysts forecast that Charles Schwab will post 3.4 earnings per share for the current year.

Charles Schwab Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 23rd. Shareholders of record on Friday, February 9th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.37%. The ex-dividend date was Thursday, February 8th. Charles Schwab’s payout ratio is 39.37%.

Insiders Place Their Bets

In other news, Chairman Charles R. Schwab sold 71,226 shares of Charles Schwab stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $64.99, for a total value of $4,628,977.74. Following the completion of the transaction, the chairman now owns 61,251,038 shares in the company, valued at approximately $3,980,704,959.62. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, Chairman Charles R. Schwab sold 71,226 shares of Charles Schwab stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $64.99, for a total value of $4,628,977.74. Following the completion of the transaction, the chairman now owns 61,251,038 shares in the company, valued at approximately $3,980,704,959.62. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Jonathan M. Craig sold 4,977 shares of Charles Schwab stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $70.01, for a total value of $348,439.77. Following the completion of the transaction, the insider now owns 81,446 shares of the company’s stock, valued at approximately $5,702,034.46. The disclosure for this sale can be found here. Insiders have sold a total of 216,584 shares of company stock valued at $14,200,769 in the last quarter. 6.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Charles Schwab

A number of institutional investors and hedge funds have recently modified their holdings of SCHW. Vontobel Holding Ltd. boosted its holdings in Charles Schwab by 7.5% during the 1st quarter. Vontobel Holding Ltd. now owns 20,822 shares of the financial services provider’s stock valued at $1,847,000 after acquiring an additional 1,452 shares during the period. Moors & Cabot Inc. raised its position in Charles Schwab by 4.3% during the 1st quarter. Moors & Cabot Inc. now owns 6,263 shares of the financial services provider’s stock valued at $528,000 after purchasing an additional 259 shares in the last quarter. Sequoia Financial Advisors LLC raised its position in Charles Schwab by 25.4% during the 1st quarter. Sequoia Financial Advisors LLC now owns 13,064 shares of the financial services provider’s stock valued at $1,101,000 after purchasing an additional 2,648 shares in the last quarter. Brighton Jones LLC raised its position in Charles Schwab by 7.5% during the 1st quarter. Brighton Jones LLC now owns 3,807 shares of the financial services provider’s stock valued at $321,000 after purchasing an additional 267 shares in the last quarter. Finally, Covestor Ltd raised its position in Charles Schwab by 16.6% during the 1st quarter. Covestor Ltd now owns 1,239 shares of the financial services provider’s stock valued at $104,000 after purchasing an additional 176 shares in the last quarter. Hedge funds and other institutional investors own 84.38% of the company’s stock.

About Charles Schwab

The Charles Schwab Corporation, together with its subsidiaries, operates as a savings and loan holding company that provides wealth management, securities brokerage, banking, asset management, custody, and financial advisory services in the United States and internationally. The company operates in two segments, Investor Services and Advisor Services.