Charles Schwab (SCHW) PT Raised to $66.00

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Charles Schwab (NYSE:SCHW) had its price objective increased by Morgan Stanley from $65.00 to $66.00 in a research report released on Tuesday morning. They currently have a buy rating on the financial services provider’s stock.

Several other equities research analysts have also recently commented on SCHW. Zacks Investment Research upgraded shares of Charles Schwab from a hold rating to a buy rating and set a $61.00 price target on the stock in a research report on Tuesday, June 26th. ValuEngine cut shares of Charles Schwab from a buy rating to a hold rating in a research report on Wednesday, June 27th. JPMorgan Chase & Co. set a $59.00 price target on shares of Charles Schwab and gave the stock a buy rating in a research report on Monday, July 16th. Jefferies Financial Group reiterated a buy rating and issued a $66.00 price target on shares of Charles Schwab in a research report on Monday, July 16th. Finally, Wells Fargo & Co boosted their price target on shares of Charles Schwab from $54.00 to $56.00 and gave the stock a $54.22 rating in a research report on Wednesday, July 18th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and eight have given a buy rating to the company. The stock has a consensus rating of Hold and a consensus price target of $58.77.

Shares of NYSE SCHW opened at $49.01 on Tuesday. Charles Schwab has a fifty-two week low of $42.20 and a fifty-two week high of $60.22. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.33. The stock has a market cap of $66.40 billion, a P/E ratio of 29.88, a P/E/G ratio of 1.23 and a beta of 1.55.

Charles Schwab (NYSE:SCHW) last issued its quarterly earnings data on Tuesday, July 17th. The financial services provider reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.02. Charles Schwab had a net margin of 30.83% and a return on equity of 17.96%. The business had revenue of $2.49 billion for the quarter, compared to analysts’ expectations of $2.46 billion. During the same period in the previous year, the business earned $0.39 earnings per share. The company’s revenue was up 16.7% on a year-over-year basis. As a group, analysts predict that Charles Schwab will post 2.43 earnings per share for the current fiscal year.

In other Charles Schwab news, Director Christopher V. Dodds sold 15,718 shares of the business’s stock in a transaction dated Thursday, August 16th. The stock was sold at an average price of $51.14, for a total transaction of $803,818.52. Following the sale, the director now owns 7,592 shares in the company, valued at approximately $388,254.88. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Chairman Charles R. Schwab sold 190,500 shares of the business’s stock in a transaction dated Tuesday, July 24th. The stock was sold at an average price of $52.75, for a total value of $10,048,875.00. The disclosure for this sale can be found here. 11.50% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. IFG Advisory LLC raised its holdings in Charles Schwab by 11.3% during the 2nd quarter. IFG Advisory LLC now owns 10,087 shares of the financial services provider’s stock worth $515,000 after buying an additional 1,026 shares during the period. Gibraltar Capital Management Inc. grew its stake in Charles Schwab by 0.9% during the 2nd quarter. Gibraltar Capital Management Inc. now owns 113,017 shares of the financial services provider’s stock valued at $5,775,000 after acquiring an additional 1,057 shares in the last quarter. Livingston Group Asset Management CO operating as Southport Capital Management grew its stake in Charles Schwab by 11.0% during the 2nd quarter. Livingston Group Asset Management CO operating as Southport Capital Management now owns 10,806 shares of the financial services provider’s stock valued at $552,000 after acquiring an additional 1,068 shares in the last quarter. Bbva Compass Bancshares Inc. grew its stake in Charles Schwab by 8.1% during the 2nd quarter. Bbva Compass Bancshares Inc. now owns 14,972 shares of the financial services provider’s stock valued at $765,000 after acquiring an additional 1,121 shares in the last quarter. Finally, CapWealth Advisors LLC grew its stake in Charles Schwab by 4.3% during the 2nd quarter. CapWealth Advisors LLC now owns 27,970 shares of the financial services provider’s stock valued at $1,429,000 after acquiring an additional 1,161 shares in the last quarter. Hedge funds and other institutional investors own 80.30% of the company’s stock.

Charles Schwab Company Profile

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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