JPMorgan Chase & Co. Increases Charles Schwab (NYSE:SCHW) Price Target to $89.00

Charles Schwab (NYSE:SCHW) had its price objective raised by JPMorgan Chase & Co. from $86.00 to $89.00 in a research report sent to investors on Tuesday morning, Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the financial services provider’s stock.

A number of other brokerages also recently commented on SCHW. StockNews.com raised Charles Schwab from a sell rating to a hold rating in a report on Friday, March 15th. JMP Securities lifted their price target on shares of Charles Schwab from $77.00 to $80.00 and gave the stock a market outperform rating in a research note on Tuesday, April 9th. Barclays upped their price objective on Charles Schwab from $74.00 to $75.00 and gave the company an equal weight rating in a research note on Tuesday. Piper Sandler lifted their price objective on shares of Charles Schwab from $75.00 to $78.00 and gave the stock an overweight rating in a report on Friday, April 12th. Finally, Deutsche Bank Aktiengesellschaft increased their target price on shares of Charles Schwab from $75.00 to $77.00 and gave the stock a buy rating in a report on Tuesday, March 19th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of Hold and an average price target of $74.47.

Charles Schwab Stock Up 0.7 %

Shares of NYSE:SCHW opened at $73.42 on Tuesday. The company has a 50 day moving average of $68.58 and a two-hundred day moving average of $63.02. Charles Schwab has a 52-week low of $45.65 and a 52-week high of $73.88. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.82. The company has a market capitalization of $130.40 billion, a price-to-earnings ratio of 30.72, a price-to-earnings-growth ratio of 1.06 and a beta of 1.01.

Charles Schwab (NYSE:SCHW) last released its quarterly earnings results on Wednesday, January 17th. The financial services provider reported $0.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.04. The firm had revenue of $4.46 billion for the quarter, compared to the consensus estimate of $4.49 billion. Charles Schwab had a net margin of 26.14% and a return on equity of 19.86%. The firm’s quarterly revenue was down 18.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.07 EPS. As a group, analysts forecast that Charles Schwab will post 3.43 earnings per share for the current fiscal year.

Charles Schwab Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 23rd. Stockholders of record on Friday, February 9th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.36%. The ex-dividend date was Thursday, February 8th. Charles Schwab’s dividend payout ratio (DPR) is presently 41.84%.

Insiders Place Their Bets

In other news, COO Joseph R. Martinetto sold 43,000 shares of the company’s stock in a transaction on Tuesday, April 16th. The stock was sold at an average price of $70.83, for a total value of $3,045,690.00. Following the completion of the sale, the chief operating officer now owns 41,414 shares in the company, valued at $2,933,353.62. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, COO Joseph R. Martinetto sold 43,000 shares of the stock in a transaction that occurred on Tuesday, April 16th. The shares were sold at an average price of $70.83, for a total transaction of $3,045,690.00. Following the completion of the sale, the chief operating officer now directly owns 41,414 shares of the company’s stock, valued at $2,933,353.62. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Nigel J. Murtagh sold 29,991 shares of the company’s stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $67.80, for a total value of $2,033,389.80. Following the completion of the transaction, the insider now directly owns 81,446 shares in the company, valued at approximately $5,522,038.80. The disclosure for this sale can be found here. Insiders sold 312,800 shares of company stock worth $21,081,569 over the last ninety days. Company insiders own 6.60% of the company’s stock.

Institutional Trading of Charles Schwab

Several institutional investors and hedge funds have recently bought and sold shares of SCHW. Signet Financial Management LLC lifted its position in shares of Charles Schwab by 0.3% in the 4th quarter. Signet Financial Management LLC now owns 49,378 shares of the financial services provider’s stock valued at $4,111,000 after acquiring an additional 139 shares in the last quarter. Ironwood Financial llc boosted its position in shares of Charles Schwab by 1.6% in the first quarter. Ironwood Financial llc now owns 10,186 shares of the financial services provider’s stock worth $737,000 after buying an additional 160 shares during the period. Courier Capital LLC boosted its position in shares of Charles Schwab by 0.4% in the fourth quarter. Courier Capital LLC now owns 45,539 shares of the financial services provider’s stock worth $3,133,000 after buying an additional 161 shares during the period. Investment Advisory Services Inc. TX ADV raised its position in Charles Schwab by 0.5% during the fourth quarter. Investment Advisory Services Inc. TX ADV now owns 32,642 shares of the financial services provider’s stock valued at $2,718,000 after buying an additional 164 shares during the period. Finally, Sugarloaf Wealth Management LLC lifted its stake in Charles Schwab by 60.0% in the 4th quarter. Sugarloaf Wealth Management LLC now owns 440 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 165 shares in the last quarter. Institutional investors and hedge funds own 84.38% of the company’s stock.

Charles Schwab Company Profile

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.