Charles Schwab (NYSE:SCHW – Get Free Report) had its target price lifted by stock analysts at Barclays from $55.00 to $57.00 in a report released on Tuesday, Benzinga reports. The brokerage currently has an “equal weight” rating on the financial services provider’s stock. Barclays‘s price target would indicate a potential upside of 9.95% from the stock’s previous close.
Several other analysts also recently weighed in on SCHW. Jefferies Financial Group reduced their price objective on shares of Charles Schwab from $66.00 to $62.00 in a research report on Tuesday, October 10th. StockNews.com assumed coverage on shares of Charles Schwab in a research report on Thursday, October 5th. They set a “sell” rating for the company. Morgan Stanley reduced their price objective on shares of Charles Schwab from $71.00 to $64.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 11th. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Charles Schwab from $70.00 to $69.00 in a research report on Wednesday, October 11th. Finally, Wolfe Research reduced their price objective on shares of Charles Schwab from $62.00 to $60.00 in a research report on Monday, June 26th. Three equities research analysts have rated the stock with a sell rating, two have given a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, Charles Schwab presently has a consensus rating of “Moderate Buy” and a consensus price target of $69.91.
Check Out Our Latest Stock Report on Charles Schwab
Charles Schwab Stock Down 3.4 %
Charles Schwab (NYSE:SCHW – Get Free Report) last issued its quarterly earnings results on Monday, October 16th. The financial services provider reported $0.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.75 by $0.02. Charles Schwab had a net margin of 30.14% and a return on equity of 24.86%. The company had revenue of $4.61 billion during the quarter, compared to the consensus estimate of $4.62 billion. During the same quarter in the previous year, the firm earned $1.10 earnings per share. The firm’s quarterly revenue was down 16.3% on a year-over-year basis. As a group, research analysts forecast that Charles Schwab will post 3.18 EPS for the current fiscal year.
Insider Buying and Selling at Charles Schwab
In other Charles Schwab news, CFO Peter B. Crawford sold 3,792 shares of the business’s stock in a transaction on Monday, September 18th. The shares were sold at an average price of $57.31, for a total value of $217,319.52. Following the transaction, the chief financial officer now directly owns 44,725 shares of the company’s stock, valued at approximately $2,563,189.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Charles Schwab news, CFO Peter B. Crawford sold 3,792 shares of the business’s stock in a transaction on Monday, September 18th. The shares were sold at an average price of $57.31, for a total value of $217,319.52. Following the transaction, the chief financial officer now directly owns 44,725 shares of the company’s stock, valued at approximately $2,563,189.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Charles R. Schwab sold 72,047 shares of the company’s stock in a transaction on Monday, July 24th. The stock was sold at an average price of $66.66, for a total transaction of $4,802,653.02. Following the transaction, the chairman now directly owns 59,748,538 shares in the company, valued at $3,982,837,543.08. The disclosure for this sale can be found here. In the last three months, insiders have sold 159,599 shares of company stock valued at $10,542,469. 6.60% of the stock is owned by company insiders.
Hedge Funds Weigh In On Charles Schwab
Institutional investors and hedge funds have recently made changes to their positions in the stock. Beacon Capital Management LLC acquired a new position in shares of Charles Schwab during the 1st quarter worth $25,000. Your Advocates Ltd. LLP acquired a new stake in Charles Schwab in the 1st quarter valued at about $25,000. Key Financial Inc grew its stake in Charles Schwab by 144.3% in the 2nd quarter. Key Financial Inc now owns 447 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 264 shares during the last quarter. AlphaMark Advisors LLC acquired a new stake in Charles Schwab in the 2nd quarter valued at about $28,000. Finally, Carolina Wealth Advisors LLC grew its stake in Charles Schwab by 54.8% in the 1st quarter. Carolina Wealth Advisors LLC now owns 565 shares of the financial services provider’s stock valued at $30,000 after acquiring an additional 200 shares during the last quarter. 81.61% of the stock is owned by institutional investors and hedge funds.
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. The company operates in two segments, Investor Services and Advisor Services.
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