The Charles Schwab Corporation (NYSE:SCHW) Given “Buy” Rating at Jefferies Group LLC

Jefferies Group LLC reaffirmed their buy rating on shares of The Charles Schwab Corporation (NYSE:SCHW) in a report issued on Friday, September 15th. They currently have a $49.00 price objective on the financial services provider’s stock.

SCHW has been the subject of a number of other reports. Deutsche Bank AG reduced their price objective on shares of The Charles Schwab Corporation from $47.00 to $46.00 and set a buy rating for the company in a research note on Tuesday, July 4th. Wells Fargo & Company reiterated a market perform rating and set a $44.00 target price (up from $42.00) on shares of The Charles Schwab Corporation in a research note on Monday, June 12th. BidaskClub cut shares of The Charles Schwab Corporation from a sell rating to a strong sell rating in a research note on Friday, September 8th. Morgan Stanley reiterated an overweight rating and set a $48.00 target price (up from $45.00) on shares of The Charles Schwab Corporation in a research note on Monday, July 10th. Finally, Citigroup Inc. initiated coverage on shares of The Charles Schwab Corporation in a research note on Thursday, July 13th. They set a neutral rating and a $46.00 target price for the company. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have issued a buy rating to the company’s stock. The Charles Schwab Corporation has a consensus rating of Buy and an average target price of $45.47.

The Charles Schwab Corporation (NYSE:SCHW) opened at 42.54 on Friday. The Charles Schwab Corporation has a 52 week low of $29.86 and a 52 week high of $44.10. The company’s 50 day moving average is $40.42 and its 200-day moving average is $40.76. The firm has a market cap of $56.97 billion, a P/E ratio of 28.55 and a beta of 1.64.

The Charles Schwab Corporation (NYSE:SCHW) last issued its quarterly earnings data on Tuesday, July 18th. The financial services provider reported $0.39 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.39. The Charles Schwab Corporation had a net margin of 26.73% and a return on equity of 15.41%. The business had revenue of $2.13 billion during the quarter, compared to analysts’ expectations of $2.13 billion. During the same period in the previous year, the company earned $0.30 earnings per share. The Charles Schwab Corporation’s revenue for the quarter was up 16.5% on a year-over-year basis. Equities analysts expect that The Charles Schwab Corporation will post $1.61 earnings per share for the current year.

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The company also recently declared a quarterly dividend, which was paid on Friday, August 25th. Investors of record on Friday, August 11th were given a $0.08 dividend. The ex-dividend date of this dividend was Wednesday, August 9th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.75%. The Charles Schwab Corporation’s dividend payout ratio is 21.48%.

In related news, Chairman Charles R. Schwab sold 350,000 shares of the stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $43.10, for a total transaction of $15,085,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Charles R. Schwab sold 26,000 shares of the stock in a transaction that occurred on Monday, July 31st. The stock was sold at an average price of $42.80, for a total value of $1,112,800.00. The disclosure for this sale can be found here. Insiders sold a total of 925,122 shares of company stock worth $39,733,977 over the last quarter. 12.00% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. WealthTrust Arizona LLC grew its stake in shares of The Charles Schwab Corporation by 1.2% during the 2nd quarter. WealthTrust Arizona LLC now owns 2,466 shares of the financial services provider’s stock worth $106,000 after acquiring an additional 29 shares in the last quarter. YorkBridge Wealth Partners LLC grew its stake in shares of The Charles Schwab Corporation by 9.6% during the 1st quarter. YorkBridge Wealth Partners LLC now owns 3,267 shares of the financial services provider’s stock worth $131,000 after acquiring an additional 287 shares in the last quarter. Shine Investment Advisory Services Inc. bought a new position in shares of The Charles Schwab Corporation during the 2nd quarter worth approximately $145,000. Fiduciary Trust Co. bought a new position in shares of The Charles Schwab Corporation during the 2nd quarter worth approximately $163,000. Finally, FTB Advisors Inc. grew its stake in shares of The Charles Schwab Corporation by 365.8% during the 1st quarter. FTB Advisors Inc. now owns 3,852 shares of the financial services provider’s stock worth $151,000 after acquiring an additional 3,025 shares in the last quarter. 79.53% of the stock is owned by institutional investors and hedge funds.

The Charles Schwab Corporation Company Profile

The Charles Schwab Corporation (CSC) is a savings and loan holding company. The Company, through its subsidiaries, engages in wealth management, securities brokerage, banking, money management and financial advisory services. The Company provides financial services to individuals and institutional clients through two segments: Investor Services and Advisor Services.

Analyst Recommendations for The Charles Schwab Corporation (NYSE:SCHW)

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