Charles Schwab (NYSE:SCHW) had its price target lifted by equities research analysts at Deutsche Bank from $54.00 to $55.00 in a report released on Tuesday. The brokerage presently has a “hold” rating on the financial services provider’s stock. Deutsche Bank’s target price suggests a potential upside of 5.40% from the company’s current price.
Several other brokerages also recently weighed in on SCHW. Credit Suisse Group decreased their target price on Charles Schwab from $69.00 to $60.00 and set an “outperform” rating for the company in a research note on Wednesday, April 11th. Morgan Stanley increased their target price on Charles Schwab from $63.00 to $65.00 and gave the company an “overweight” rating in a research note on Tuesday, April 10th. Sanford C. Bernstein assumed coverage on Charles Schwab in a research note on Monday, April 9th. They set a “market perform” rating and a $52.00 target price for the company. Wells Fargo restated a “market perform” rating and set a $55.00 target price (up previously from $47.00) on shares of Charles Schwab in a research note on Thursday, January 4th. Finally, Zacks Investment Research downgraded Charles Schwab from a “buy” rating to a “hold” rating in a research note on Tuesday, March 6th. One analyst has rated the stock with a sell rating, eight have given a hold rating and nine have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $54.67.
SCHW opened at $52.18 on Tuesday. The stock has a market cap of $71,470.78, a PE ratio of 31.82, a P/E/G ratio of 1.30 and a beta of 1.55. Charles Schwab has a 52-week low of $37.63 and a 52-week high of $58.11. The company has a quick ratio of 0.30, a current ratio of 0.31 and a debt-to-equity ratio of 0.30.
In other Charles Schwab news, EVP Terri R. Kallsen sold 2,026 shares of the firm’s stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $51.94, for a total value of $105,230.44. Following the completion of the sale, the executive vice president now owns 1,706 shares in the company, valued at approximately $88,609.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Jonathan M. Craig sold 2,629 shares of the firm’s stock in a transaction that occurred on Monday, April 16th. The stock was sold at an average price of $52.11, for a total value of $136,997.19. The disclosure for this sale can be found here. Insiders sold a total of 622,854 shares of company stock valued at $33,783,971 in the last quarter. Corporate insiders own 11.50% of the company’s stock.
Hedge funds have recently made changes to their positions in the business. Bogart Wealth LLC lifted its position in shares of Charles Schwab by 1,100.0% in the 4th quarter. Bogart Wealth LLC now owns 2,040 shares of the financial services provider’s stock worth $105,000 after acquiring an additional 1,870 shares during the period. Pinnacle Wealth Planning Services Inc. acquired a new position in shares of Charles Schwab in the 4th quarter worth approximately $118,000. Acadian Asset Management LLC acquired a new position in shares of Charles Schwab in the 4th quarter worth approximately $187,000. Lourd Capital LLC acquired a new position in shares of Charles Schwab in the 4th quarter worth approximately $208,000. Finally, Fiduciary Trust Co. acquired a new position in shares of Charles Schwab in the 4th quarter worth approximately $208,000. Institutional investors own 80.58% of the company’s stock.
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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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