Charles Schwab (NYSE:SCHW) was downgraded by stock analysts at Bank of America from a “buy” rating to a “neutral” rating in a research report issued on Friday, Marketbeat reports. They presently have a $43.00 target price on the financial services provider’s stock, down from their previous target price of $49.00. Bank of America‘s price objective would indicate a potential upside of 7.15% from the company’s previous close.
Several other equities research analysts also recently issued reports on SCHW. Citigroup downgraded Apergy from a “buy” rating to a “neutral” rating and cut their price target for the company from $41.00 to $34.00 in a report on Tuesday, July 9th. JPMorgan Chase & Co. set a $44.00 price target on Charles Schwab and gave the company a “buy” rating in a report on Friday, June 21st. ValuEngine downgraded Virtu Financial from a “hold” rating to a “sell” rating in a report on Tuesday, June 18th. Deutsche Bank reaffirmed a “buy” rating and set a GBX 4,000 ($52.27) price target on shares of in a report on Tuesday, June 18th. Finally, Wells Fargo & Co reaffirmed a “hold” rating on shares of AON in a report on Friday, April 5th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and eight have assigned a buy rating to the company. Charles Schwab has a consensus rating of “Hold” and an average target price of $48.53.
NYSE:SCHW opened at $40.13 on Friday. Charles Schwab has a 1-year low of $37.83 and a 1-year high of $54.26. The company has a quick ratio of 0.33, a current ratio of 0.33 and a debt-to-equity ratio of 0.36. The firm has a fifty day moving average price of $41.43. The company has a market capitalization of $54.01 billion, a PE ratio of 16.38, a PEG ratio of 1.89 and a beta of 1.23.
Charles Schwab (NYSE:SCHW) last released its earnings results on Monday, April 15th. The financial services provider reported $0.69 earnings per share for the quarter, beating the consensus estimate of $0.66 by $0.03. Charles Schwab had a net margin of 35.27% and a return on equity of 20.47%. The business had revenue of $2.72 billion during the quarter, compared to analysts’ expectations of $2.67 billion. During the same period last year, the business earned $0.55 earnings per share. The firm’s revenue was up 13.6% on a year-over-year basis. Research analysts predict that Charles Schwab will post 2.72 EPS for the current year.
In related news, Chairman Charles R. Schwab sold 250,000 shares of the business’s stock in a transaction dated Monday, April 22nd. The stock was sold at an average price of $45.29, for a total value of $11,322,500.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Stephen T. Mclin sold 4,356 shares of the business’s stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $43.85, for a total value of $191,010.60. Following the completion of the transaction, the director now directly owns 7,592 shares of the company’s stock, valued at approximately $332,909.20. The disclosure for this sale can be found here. Insiders have sold 841,576 shares of company stock valued at $38,416,671 in the last three months. Insiders own 10.90% of the company’s stock.
Hedge funds have recently bought and sold shares of the stock. Comerica Securities Inc. grew its position in Charles Schwab by 5.4% during the fourth quarter. Comerica Securities Inc. now owns 40,063 shares of the financial services provider’s stock worth $1,664,000 after buying an additional 2,065 shares during the period. Commonwealth Bank of Australia grew its position in Charles Schwab by 3.2% during the fourth quarter. Commonwealth Bank of Australia now owns 12,611 shares of the financial services provider’s stock worth $521,000 after buying an additional 388 shares during the period. Dimensional Fund Advisors LP grew its position in Charles Schwab by 2.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,723,959 shares of the financial services provider’s stock worth $113,124,000 after buying an additional 76,982 shares during the period. Geode Capital Management LLC grew its position in Charles Schwab by 5.9% during the fourth quarter. Geode Capital Management LLC now owns 13,627,245 shares of the financial services provider’s stock worth $564,801,000 after buying an additional 758,069 shares during the period. Finally, Claybrook Capital LLC acquired a new stake in shares of Charles Schwab in the fourth quarter valued at approximately $108,000. 78.92% of the stock is owned by institutional investors and hedge funds.
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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