Charles Schwab (NYSE:SCHW) Trading Up 2.6% Following Analyst Upgrade

The Charles Schwab Co. (NYSE:SCHW)’s stock price traded up 2.6% during trading on Wednesday after TD Cowen raised their price target on the stock from $87.00 to $92.00. TD Cowen currently has a buy rating on the stock. Charles Schwab traded as high as $73.26 and last traded at $73.07. 12,021,566 shares were traded during trading, an increase of 80% from the average session volume of 6,668,537 shares. The stock had previously closed at $71.23.

SCHW has been the topic of several other reports. Raymond James lowered their price objective on shares of Charles Schwab from $78.00 to $75.00 and set an “outperform” rating on the stock in a research note on Thursday, January 18th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Charles Schwab from $75.00 to $77.00 and gave the stock a “buy” rating in a research note on Tuesday, March 19th. StockNews.com upgraded shares of Charles Schwab from a “sell” rating to a “hold” rating in a research note on Friday, March 15th. Morgan Stanley lifted their target price on shares of Charles Schwab from $65.00 to $71.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 9th. Finally, Keefe, Bruyette & Woods lifted their target price on shares of Charles Schwab from $75.00 to $76.00 and gave the stock a “market perform” rating in a report on Tuesday. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, Charles Schwab has an average rating of “Hold” and an average target price of $74.47.

Insiders Place Their Bets

In other news, CFO Peter B. Crawford sold 4,000 shares of Charles Schwab stock in a transaction dated Monday, January 22nd. The shares were sold at an average price of $64.49, for a total transaction of $257,960.00. Following the completion of the transaction, the chief financial officer now directly owns 37,611 shares in the company, valued at $2,425,533.39. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Charles Schwab news, Director Carolyn Schwab-Pomerantz sold 9,000 shares of Charles Schwab stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $70.87, for a total value of $637,830.00. Following the sale, the director now owns 581,457 shares of the company’s stock, valued at $41,207,857.59. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Peter B. Crawford sold 4,000 shares of Charles Schwab stock in a transaction dated Monday, January 22nd. The stock was sold at an average price of $64.49, for a total transaction of $257,960.00. Following the completion of the sale, the chief financial officer now directly owns 37,611 shares in the company, valued at approximately $2,425,533.39. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 216,584 shares of company stock worth $14,200,769. 6.60% of the stock is currently owned by company insiders.

Institutional Trading of Charles Schwab

Hedge funds and other institutional investors have recently modified their holdings of the business. Investment Research & Advisory Group Inc. grew its stake in Charles Schwab by 1.0% in the 4th quarter. Investment Research & Advisory Group Inc. now owns 58,979 shares of the financial services provider’s stock worth $4,058,000 after buying an additional 607 shares in the last quarter. Bamco Inc. NY grew its stake in Charles Schwab by 0.5% in the 3rd quarter. Bamco Inc. NY now owns 8,102,475 shares of the financial services provider’s stock worth $444,826,000 after buying an additional 42,588 shares in the last quarter. Nisa Investment Advisors LLC grew its stake in Charles Schwab by 43.2% in the 3rd quarter. Nisa Investment Advisors LLC now owns 551,682 shares of the financial services provider’s stock worth $30,287,000 after buying an additional 166,316 shares in the last quarter. Allspring Global Investments Holdings LLC grew its stake in Charles Schwab by 22.2% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 883,379 shares of the financial services provider’s stock worth $60,776,000 after buying an additional 160,719 shares in the last quarter. Finally, 180 Wealth Advisors LLC grew its stake in Charles Schwab by 6.1% in the 3rd quarter. 180 Wealth Advisors LLC now owns 32,214 shares of the financial services provider’s stock worth $1,769,000 after buying an additional 1,843 shares in the last quarter. Institutional investors own 84.38% of the company’s stock.

Charles Schwab Stock Down 0.8 %

The company has a market cap of $128.76 billion, a PE ratio of 30.33, a PEG ratio of 1.08 and a beta of 1.01. The stock’s 50 day moving average price is $68.17 and its 200-day moving average price is $62.82. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.43 and a current ratio of 0.43.

Charles Schwab (NYSE:SCHW) last announced its quarterly earnings data on Wednesday, January 17th. The financial services provider reported $0.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.64 by $0.04. Charles Schwab had a net margin of 26.14% and a return on equity of 19.86%. The company had revenue of $4.46 billion during the quarter, compared to analysts’ expectations of $4.49 billion. During the same quarter in the prior year, the company earned $1.07 EPS. The firm’s revenue was down 18.9% on a year-over-year basis. On average, analysts predict that The Charles Schwab Co. will post 3.4 earnings per share for the current year.

Charles Schwab Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, February 23rd. Investors of record on Friday, February 9th were issued a dividend of $0.25 per share. The ex-dividend date was Thursday, February 8th. This represents a $1.00 dividend on an annualized basis and a yield of 1.38%. Charles Schwab’s dividend payout ratio is currently 41.84%.

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.