The Charles Schwab Corp. (SCHW) Price Target Raised to $35.00
The Charles Schwab Corp. (NYSE:SCHW) had its target price boosted by Barclays PLC from $34.00 to $35.00 in a research report sent to investors on Thursday. The firm currently has an overweight rating on the stock.
Other analysts have also issued research reports about the stock. Deutsche Bank AG reaffirmed a buy rating on shares of The Charles Schwab Corp. in a report on Sunday, June 26th. Jefferies Group lowered their price target on shares of The Charles Schwab Corp. from $36.00 to $34.00 and set a buy rating for the company in a report on Thursday, July 7th. Nomura reissued a buy rating on shares of The Charles Schwab Corp. in a report on Monday, July 11th. Zacks Investment Research raised shares of The Charles Schwab Corp. from a sell rating to a hold rating in a report on Tuesday, August 16th. Finally, Credit Agricole SA raised their price target on shares of The Charles Schwab Corp. from $31.00 to $34.00 and gave the company an outperform rating in a report on Thursday, September 22nd. Three analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. The stock presently has an average rating of Buy and a consensus price target of $33.57.
Shares of The Charles Schwab Corp. (NYSE:SCHW) opened at 31.69 on Thursday. The Charles Schwab Corp. has a 52-week low of $21.51 and a 52-week high of $34.52. The firm has a market capitalization of $41.93 billion, a P/E ratio of 27.32 and a beta of 1.55. The firm has a 50-day moving average price of $31.24 and a 200-day moving average price of $29.12.
The Charles Schwab Corp. (NYSE:SCHW) last posted its quarterly earnings results on Monday, October 17th. The company reported $0.35 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.33 by $0.02. The Charles Schwab Corp. had a net margin of 24.07% and a return on equity of 13.03%. The firm earned $1.91 billion during the quarter, compared to analyst estimates of $1.89 billion. During the same quarter in the prior year, the business posted $0.27 earnings per share. The company’s quarterly revenue was up 19.8% compared to the same quarter last year. On average, equities research analysts anticipate that The Charles Schwab Corp. will post $1.26 EPS for the current year.
In other news, insider Marie A. Chandoha sold 6,076 shares of the business’s stock in a transaction dated Tuesday, October 4th. The shares were sold at an average price of $32.00, for a total transaction of $194,432.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Nigel J. Murtagh sold 2,500 shares of the business’s stock in a transaction dated Friday, August 5th. The stock was sold at an average price of $29.72, for a total transaction of $74,300.00. Following the transaction, the executive vice president now owns 35,137 shares in the company, valued at $1,044,271.64. The disclosure for this sale can be found here. Insiders own 12.60% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in SCHW. Allen Investment Management LLC increased its stake in The Charles Schwab Corp. by 6.8% in the first quarter. Allen Investment Management LLC now owns 1,645,586 shares of the company’s stock worth $46,109,000 after buying an additional 104,417 shares in the last quarter. Bank of Montreal Can acquired a new stake in The Charles Schwab Corp. during the second quarter worth about $30,353,000. First Manhattan Co. increased its stake in The Charles Schwab Corp. by 36.6% in the second quarter. First Manhattan Co. now owns 1,493,865 shares of the company’s stock worth $37,809,000 after buying an additional 400,350 shares in the last quarter. Atlanta Capital Management Co. L L C acquired a new stake in The Charles Schwab Corp. during the first quarter worth about $36,833,000. Finally, Oak Associates Ltd. OH increased its stake in The Charles Schwab Corp. by 5.0% in the first quarter. Oak Associates Ltd. OH now owns 1,116,658 shares of the company’s stock worth $31,289,000 after buying an additional 52,696 shares in the last quarter. Institutional investors own 76.48% of the company’s stock.
The Charles Schwab Corp. Company Profile
The Charles Schwab Corporation is a savings and loan holding company. The Company, through its subsidiaries, engages in wealth management, securities brokerage, banking, money management and financial advisory services. The Company provides financial services to individuals and institutional clients through two segments: Investor Services and Advisor Services.
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