Charles Schwab (NYSE:SCHW) was downgraded by research analysts at Keefe, Bruyette & Woods from an “outperform” rating to a “market perform” rating in a research report issued on Friday, MarketBeat Ratings reports. They currently have a $43.50 target price on the financial services provider’s stock, down from their previous target price of $51.00. Keefe, Bruyette & Woods’ price target suggests a potential upside of 8.40% from the stock’s current price.
A number of other research firms also recently issued reports on SCHW. Bank of America set a $180.00 target price on shares of CME Group and gave the company a “hold” rating in a research report on Tuesday, April 9th. Compass Point set a $52.00 target price on shares of E*TRADE Financial and gave the company a “buy” rating in a research report on Tuesday, July 2nd. Wells Fargo & Co restated a “hold” rating on shares of AON in a research report on Friday, April 5th. Morgan Stanley upped their target price on shares of Visa from $175.00 to $191.00 and gave the company an “overweight” rating in a research report on Thursday. Finally, Deutsche Bank restated a “buy” rating and set a GBX 4,000 ($52.27) target price on shares of in a research report on Tuesday, June 18th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $48.53.
Charles Schwab stock opened at $40.13 on Friday. The company has a current ratio of 0.33, a quick ratio of 0.33 and a debt-to-equity ratio of 0.36. Charles Schwab has a 1 year low of $37.83 and a 1 year high of $54.26. The firm has a market cap of $54.01 billion, a P/E ratio of 16.38, a PEG ratio of 1.89 and a beta of 1.23. The company’s 50-day simple moving average is $41.43.
Charles Schwab (NYSE:SCHW) last released its earnings results on Monday, April 15th. The financial services provider reported $0.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.66 by $0.03. Charles Schwab had a net margin of 35.27% and a return on equity of 20.47%. The company had revenue of $2.72 billion for the quarter, compared to the consensus estimate of $2.67 billion. During the same period in the prior year, the company posted $0.55 EPS. The company’s revenue was up 13.6% compared to the same quarter last year. On average, research analysts expect that Charles Schwab will post 2.72 earnings per share for the current fiscal year.
In related news, Chairman Charles R. Schwab sold 250,000 shares of the stock in a transaction that occurred on Monday, April 22nd. The shares were sold at an average price of $45.29, for a total value of $11,322,500.00. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Charles A. Ruffel purchased 2,500 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The stock was purchased at an average price of $46.10 per share, for a total transaction of $115,250.00. Following the completion of the transaction, the director now directly owns 788 shares in the company, valued at $36,326.80. The disclosure for this purchase can be found here. Insiders sold a total of 841,576 shares of company stock worth $38,416,671 over the last quarter. 10.90% of the stock is currently owned by corporate insiders.
Several large investors have recently made changes to their positions in the stock. Pinkerton Retirement Specialists LLC raised its holdings in Charles Schwab by 6.6% during the 4th quarter. Pinkerton Retirement Specialists LLC now owns 30,548 shares of the financial services provider’s stock worth $1,269,000 after buying an additional 1,888 shares during the period. Principal Financial Group Inc. raised its holdings in Charles Schwab by 5.8% during the 4th quarter. Principal Financial Group Inc. now owns 3,541,087 shares of the financial services provider’s stock worth $147,062,000 after buying an additional 193,547 shares during the period. Stack Financial Management Inc raised its holdings in Charles Schwab by 4.4% during the 1st quarter. Stack Financial Management Inc now owns 411,543 shares of the financial services provider’s stock worth $17,598,000 after buying an additional 17,452 shares during the period. Mercer Global Advisors Inc. ADV acquired a new stake in Charles Schwab during the 1st quarter worth approximately $375,000. Finally, Reilly Herbert Faulkner III raised its holdings in Charles Schwab by 2.4% during the 1st quarter. Reilly Herbert Faulkner III now owns 119,451 shares of the financial services provider’s stock worth $5,108,000 after buying an additional 2,748 shares during the period. Institutional investors and hedge funds own 78.92% of the company’s stock.
About Charles Schwab
The Charles Schwab Corporation, through its subsidiaries, provides wealth management, securities brokerage, banking, asset management, custody, and financial advisory services. The company operates through two segments, Investor Services and Advisor Services. The Investor Services segment provides retail brokerage and banking services, retirement plan services, and other corporate brokerage services; equity compensation plan sponsors full-service recordkeeping for stock plans, stock options, restricted stock, performance shares, and stock appreciation rights; and retail investor, retirement plan, and mutual fund clearing services.
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