Keefe, Bruyette & Woods Raises Charles Schwab (NYSE:SCHW) Price Target to $93.00

Charles Schwab (NYSE:SCHW) had its price objective hoisted by Keefe, Bruyette & Woods from $81.00 to $93.00 in a note issued to investors on Friday,Benzinga reports. The firm presently has an “outperform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ price target would indicate a potential upside of 26.36% from the company’s current price.

Several other research firms have also recently commented on SCHW. JPMorgan Chase & Co. increased their target price on Charles Schwab from $86.00 to $87.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. Wells Fargo & Company lifted their price target on Charles Schwab from $75.00 to $90.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 12th. Jefferies Financial Group increased their target price on Charles Schwab from $84.00 to $94.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Barclays upgraded Charles Schwab from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $74.00 to $95.00 in a report on Monday, December 9th. Finally, Bank of America decreased their price objective on shares of Charles Schwab from $63.00 to $61.00 and set an “underperform” rating for the company in a report on Wednesday, October 16th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $80.50.

Charles Schwab Price Performance

Shares of SCHW stock opened at $73.60 on Friday. The firm has a fifty day simple moving average of $76.64 and a 200-day simple moving average of $70.57. The company has a market capitalization of $130.98 billion, a PE ratio of 28.75, a price-to-earnings-growth ratio of 1.76 and a beta of 0.96. Charles Schwab has a twelve month low of $59.67 and a twelve month high of $83.35. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 0.59.

Charles Schwab (NYSE:SCHW) last posted its quarterly earnings data on Tuesday, October 15th. 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 27.47% and a return on equity of 16.92%. The company had revenue of $4.85 billion during the quarter, compared to analysts’ expectations of $4.78 billion. During the same period in the prior year, the company posted $0.77 EPS. The firm’s revenue for the quarter was up 5.2% on a year-over-year basis. Equities research analysts anticipate that Charles Schwab will post 3.12 earnings per share for the current fiscal year.

Insider Activity at Charles Schwab

In other Charles Schwab news, Chairman Charles R. Schwab sold 62,345 shares of the business’s stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $72.52, for a total value of $4,521,259.40. Following the sale, the chairman now directly owns 60,619,371 shares in the company, valued at approximately $4,396,116,784.92. The trade was a 0.10 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jonathan S. Beatty sold 2,300 shares of the firm’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $82.01, for a total transaction of $188,623.00. Following the transaction, the insider now owns 18,069 shares of the company’s stock, valued at approximately $1,481,838.69. This trade represents a 11.29 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 118,968 shares of company stock worth $8,842,821 over the last ninety days. 6.60% of the stock is currently owned by corporate insiders.

Institutional Trading of Charles Schwab

Large investors have recently added to or reduced their stakes in the business. Alliance Wealth Advisors LLC increased its position in shares of Charles Schwab by 2.7% in the third quarter. Alliance Wealth Advisors LLC now owns 5,358 shares of the financial services provider’s stock worth $347,000 after acquiring an additional 142 shares in the last quarter. GS Investments Inc. raised its stake in Charles Schwab by 0.3% during the 3rd quarter. GS Investments Inc. now owns 57,434 shares of the financial services provider’s stock valued at $3,722,000 after purchasing an additional 146 shares during the period. Washington Trust Advisors Inc. lifted its holdings in shares of Charles Schwab by 62.6% in the third quarter. Washington Trust Advisors Inc. now owns 387 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 149 shares in the last quarter. Arcataur Capital Management LLC boosted its position in shares of Charles Schwab by 2.3% in the third quarter. Arcataur Capital Management LLC now owns 6,648 shares of the financial services provider’s stock worth $431,000 after buying an additional 150 shares during the period. Finally, Tandem Capital Management Corp ADV raised its position in Charles Schwab by 0.3% during the third quarter. Tandem Capital Management Corp ADV now owns 49,537 shares of the financial services provider’s stock valued at $3,210,000 after buying an additional 150 shares during the period. 84.38% of the stock is currently owned by 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 in the United States and internationally. The company operates in two segments, Investor Services and Advisor Services.