Charles Schwab (NYSE:SCHW – Get Free Report) had its price objective hoisted by Raymond James from $72.00 to $76.00 in a report released on Tuesday, Benzinga reports. The brokerage currently has an “outperform” rating on the financial services provider’s stock. Raymond James’ price target would suggest a potential upside of 46.60% from the company’s current price.
Several other equities research analysts have also commented on SCHW. Wolfe Research decreased their target price on shares of Charles Schwab from $62.00 to $60.00 in a research report on Monday, June 26th. Argus boosted their target price on shares of Charles Schwab from $70.00 to $81.00 in a research report on Wednesday, July 19th. UBS Group decreased their target price on shares of Charles Schwab from $80.00 to $72.00 and set a “buy” rating on the stock in a research report on Monday. Jefferies Financial Group decreased their target price on shares of Charles Schwab from $66.00 to $62.00 in a research report on Tuesday, October 10th. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on shares of Charles Schwab from $70.00 to $69.00 in a research report on Wednesday, October 11th. Three equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $69.91.
Read Our Latest Report on Charles Schwab
Charles Schwab Stock Performance
Charles Schwab (NYSE:SCHW – Get Free Report) last posted its quarterly earnings data on Monday, October 16th. The financial services provider reported $0.77 earnings per share for the quarter, beating 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 firm had revenue of $4.61 billion for the quarter, compared to analyst estimates of $4.62 billion. During the same period last year, the firm posted $1.10 EPS. Charles Schwab’s quarterly revenue was down 16.3% on a year-over-year basis. On average, sell-side analysts expect that Charles Schwab will post 3.18 EPS for the current year.
Insiders Place Their Bets
In other Charles Schwab news, CFO Peter B. Crawford sold 3,792 shares of the company’s stock in a transaction that occurred on Monday, September 18th. The stock was sold at an average price of $57.31, for a total value of $217,319.52. Following the completion of the transaction, the chief financial officer now owns 44,725 shares in the company, valued at approximately $2,563,189.75. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Charles Schwab news, CFO Peter B. Crawford sold 3,792 shares of the company’s stock in a transaction that occurred on Monday, September 18th. The stock was sold at an average price of $57.31, for a total value of $217,319.52. Following the completion of the transaction, the chief financial officer now owns 44,725 shares in the company, valued at approximately $2,563,189.75. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, General Counsel Peter J. Morgan III sold 8,000 shares of the stock in a transaction that occurred on Tuesday, August 29th. The shares were sold at an average price of $59.61, for a total value of $476,880.00. Following the transaction, the general counsel now owns 8,014 shares of the company’s stock, valued at $477,714.54. The disclosure for this sale can be found here. Insiders sold a total of 159,599 shares of company stock worth $10,542,469 in the last 90 days. 6.60% of the stock is owned by company insiders.
Hedge Funds Weigh In On Charles Schwab
Several institutional investors and hedge funds have recently made changes to their positions in the business. Signet Financial Management LLC grew its holdings in shares of Charles Schwab by 0.3% during the 4th quarter. Signet Financial Management LLC now owns 49,378 shares of the financial services provider’s stock worth $4,111,000 after purchasing an additional 139 shares in the last quarter. Welch & Forbes LLC grew its holdings in shares of Charles Schwab by 2.8% during the 2nd quarter. Welch & Forbes LLC now owns 5,797 shares of the financial services provider’s stock worth $329,000 after purchasing an additional 160 shares in the last quarter. Capital Advisors Inc. OK grew its holdings in shares of Charles Schwab by 0.6% during the 2nd quarter. Capital Advisors Inc. OK now owns 28,547 shares of the financial services provider’s stock worth $1,618,000 after purchasing an additional 162 shares in the last quarter. Main Street Financial Solutions LLC boosted its stake in Charles Schwab by 2.6% in the 2nd quarter. Main Street Financial Solutions LLC now owns 6,475 shares of the financial services provider’s stock valued at $367,000 after buying an additional 162 shares in the last quarter. Finally, Investment Advisory Services Inc. TX ADV boosted its stake in Charles Schwab by 0.5% in the 4th 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 in the last quarter. 81.61% of the stock is currently 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. The company operates in two segments, Investor Services and Advisor Services.
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