Piper Sandler Forecasts Strong Price Appreciation for Charles Schwab (NYSE:SCHW) Stock

Charles Schwab (NYSE:SCHW) had its price objective lifted by analysts at Piper Sandler from $65.00 to $70.00 in a research report issued on Tuesday,Benzinga reports. The brokerage presently has a “neutral” rating on the financial services provider’s stock. Piper Sandler’s target price suggests a potential downside of 5.85% from the company’s previous close.

Several other equities analysts have also commented on SCHW. Jefferies Financial Group increased their price target on shares of Charles Schwab from $84.00 to $94.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Deutsche Bank Aktiengesellschaft increased their target price on shares of Charles Schwab from $77.00 to $80.00 and gave the company a “buy” rating in a research report on Monday, November 11th. Citigroup reduced their price target on shares of Charles Schwab from $75.00 to $72.00 and set a “neutral” rating for the company in a research report on Friday, September 27th. JMP Securities reaffirmed a “market outperform” rating and set a $94.00 price objective (up previously from $84.00) on shares of Charles Schwab in a report on Monday, December 9th. Finally, JPMorgan Chase & Co. boosted their target price on Charles Schwab from $86.00 to $87.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $80.81.

Charles Schwab Price Performance

Charles Schwab stock opened at $74.35 on Tuesday. The stock has a market cap of $132.32 billion, a P/E ratio of 29.04, a price-to-earnings-growth ratio of 1.76 and a beta of 0.99. The company has a fifty day simple moving average of $77.45 and a 200-day simple moving average of $70.62. 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 has a 12-month low of $59.67 and a 12-month high of $83.35.

Charles Schwab (NYSE:SCHW) last announced its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $0.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.75 by $0.02. Charles Schwab had a return on equity of 16.92% and a net margin of 27.47%. The company had revenue of $4.85 billion during the quarter, compared to the consensus estimate of $4.78 billion. During the same period in the previous year, the business earned $0.77 EPS. Charles Schwab’s revenue for the quarter was up 5.2% on a year-over-year basis. Equities analysts expect that Charles Schwab will post 3.12 EPS for the current fiscal year.

Insider Activity at Charles Schwab

In related news, insider Jonathan S. Beatty sold 2,500 shares of the firm’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $77.02, for a total value of $192,550.00. Following the completion of the sale, the insider now owns 18,069 shares in the company, valued at $1,391,674.38. This trade represents a 12.15 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Nigel J. Murtagh sold 12,739 shares of the business’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $81.17, for a total value of $1,034,024.63. Following the transaction, the insider now owns 59,092 shares in the company, valued at $4,796,497.64. The trade was a 17.73 % 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 in the last three months. Insiders own 6.60% of the company’s stock.

Institutional Investors Weigh In On Charles Schwab

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Benjamin Edwards Inc. lifted its stake in shares of Charles Schwab by 2,840.7% in the third quarter. Benjamin Edwards Inc. now owns 6,146 shares of the financial services provider’s stock valued at $398,000 after purchasing an additional 5,937 shares during the period. Synovus Financial Corp increased its holdings in Charles Schwab by 46.0% in the third quarter. Synovus Financial Corp now owns 67,889 shares of the financial services provider’s stock valued at $4,400,000 after buying an additional 21,377 shares in the last quarter. Patten & Patten Inc. TN lifted its position in shares of Charles Schwab by 155.9% during the 3rd quarter. Patten & Patten Inc. TN now owns 104,168 shares of the financial services provider’s stock valued at $6,751,000 after acquiring an additional 63,463 shares during the period. Equity Investment Corp boosted its stake in shares of Charles Schwab by 9.4% during the 3rd quarter. Equity Investment Corp now owns 1,640,157 shares of the financial services provider’s stock worth $106,299,000 after acquiring an additional 140,643 shares in the last quarter. Finally, Teewinot Capital Advisers L.L.C. grew its holdings in shares of Charles Schwab by 9.0% in the 2nd quarter. Teewinot Capital Advisers L.L.C. now owns 775,161 shares of the financial services provider’s stock worth $57,122,000 after acquiring an additional 64,041 shares during the period. Institutional investors and hedge funds own 84.38% of the company’s stock.

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.