Charles Schwab (NYSE:SCHW) PT Lowered to $88.00 at TD Cowen

Charles Schwab (NYSE:SCHW) had its price objective dropped by analysts at TD Cowen from $92.00 to $88.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the financial services provider’s stock. TD Cowen’s target price indicates a potential upside of 21.21% from the stock’s current price.

A number of other research firms have also recently commented on SCHW. Bank of America raised their price target on Charles Schwab from $68.00 to $70.00 and gave the company an “underperform” rating in a report on Tuesday, April 16th. UBS Group lifted their price target on Charles Schwab from $87.00 to $91.00 and gave the stock a “buy” rating in a research report on Thursday. Keefe, Bruyette & Woods lifted their price target on Charles Schwab from $75.00 to $76.00 and gave the stock a “market perform” rating in a research report on Tuesday, April 16th. Citigroup lifted 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. Finally, JMP Securities reiterated a “market outperform” rating and issued a $80.00 price target on shares of Charles Schwab in a research report on Tuesday, April 16th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $74.76.

Charles Schwab Stock Performance

Charles Schwab stock traded down $2.67 during trading on Thursday, reaching $72.60. The company had a trading volume of 6,208,197 shares, compared to its average volume of 7,529,209. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 0.69. The firm’s 50-day simple moving average is $73.39 and its 200 day simple moving average is $67.01. The firm has a market capitalization of $129.03 billion, a price-to-earnings ratio of 30.37, a price-to-earnings-growth ratio of 1.15 and a beta of 0.98. Charles Schwab has a 52 week low of $48.66 and a 52 week high of $79.49.

Charles Schwab (NYSE:SCHW) last posted its quarterly earnings results on Monday, April 15th. The financial services provider reported $0.74 EPS for the quarter, beating analysts’ consensus estimates of $0.73 by $0.01. The business had revenue of $4.74 billion for the quarter, compared to analysts’ expectations of $4.71 billion. Charles Schwab had a return on equity of 19.25% and a net margin of 26.14%. Sell-side analysts forecast that Charles Schwab will post 3.4 earnings per share for the current fiscal year.

Insider Activity

In related news, General Counsel Peter J. Morgan III sold 24,520 shares of the stock in a transaction that occurred on Tuesday, April 16th. The shares were sold at an average price of $72.23, for a total transaction of $1,771,079.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Charles Schwab news, General Counsel Peter J. Morgan III sold 24,520 shares of the stock in a transaction that occurred on Tuesday, April 16th. The shares were sold at an average price of $72.23, for a total transaction of $1,771,079.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Jonathan M. Craig sold 4,977 shares of the firm’s stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $70.01, for a total transaction of $348,439.77. Following the completion of the sale, the insider now owns 81,446 shares in the company, valued at $5,702,034.46. The disclosure for this sale can be found here. Insiders sold a total of 622,536 shares of company stock valued at $46,208,155 in the last 90 days. Company insiders own 6.60% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Providence Capital Advisors LLC purchased a new stake in shares of Charles Schwab in the third quarter valued at about $28,000. Sugarloaf Wealth Management LLC raised its position in shares of Charles Schwab by 60.0% in the fourth quarter. Sugarloaf Wealth Management LLC now owns 440 shares of the financial services provider’s stock valued at $30,000 after buying an additional 165 shares during the last quarter. Frazier Financial Advisors LLC acquired a new position in shares of Charles Schwab in the fourth quarter valued at approximately $30,000. Wetzel Investment Advisors Inc. acquired a new position in Charles Schwab during the fourth quarter worth approximately $31,000. Finally, Tributary Capital Management LLC acquired a new position in Charles Schwab during the first quarter worth approximately $31,000. 84.38% of the stock is owned by hedge funds and other institutional investors.

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.