Charles Schwab (NYSE:SCHW) Price Target Lowered to $80.00 at Citigroup

Charles Schwab (NYSE:SCHW) had its target price decreased by Citigroup from $85.00 to $80.00 in a report published on Friday,Benzinga reports. Citigroup currently has a neutral rating on the financial services provider’s stock.

Several other research analysts have also recently weighed in on the company. Barclays upgraded Charles Schwab from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $74.00 to $95.00 in a report on Monday, December 9th. Jefferies Financial Group boosted 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. Raymond James lowered their target price on Charles Schwab from $76.00 to $73.00 in a report on Tuesday, October 15th. Piper Sandler lifted their price target on shares of Charles Schwab from $65.00 to $70.00 and gave the company a “neutral” rating in a research report on Tuesday. Finally, StockNews.com raised shares of Charles Schwab from a “sell” rating to a “hold” rating in a research report on Wednesday, October 16th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $81.69.

Charles Schwab Trading Down 0.3 %

Shares of Charles Schwab stock opened at $72.79 on Friday. The firm has a market capitalization of $129.54 billion, a PE ratio of 28.43, a P/E/G ratio of 1.76 and a beta of 0.99. Charles Schwab has a twelve month low of $59.67 and a twelve month high of $83.35. The firm’s 50-day moving average price is $77.57 and its 200 day moving average price is $70.64. 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 issued its earnings results on Tuesday, October 15th. The financial services provider reported $0.77 earnings per share for the quarter, topping the consensus estimate of $0.75 by $0.02. The business had revenue of $4.85 billion for the quarter, compared to analysts’ expectations of $4.78 billion. Charles Schwab had a return on equity of 16.92% and a net margin of 27.47%. The business’s revenue for the quarter was up 5.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.77 EPS. On average, sell-side analysts predict that Charles Schwab will post 3.12 EPS for the current fiscal year.

Charles Schwab Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Friday, November 8th were paid a $0.25 dividend. The ex-dividend date was Friday, November 8th. This represents a $1.00 annualized dividend and a dividend yield of 1.37%. Charles Schwab’s dividend payout ratio (DPR) is 39.06%.

Insiders Place Their Bets

In related news, Chairman Charles R. Schwab sold 62,345 shares of the business’s stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $72.52, for a total transaction of $4,521,259.40. Following the completion of the transaction, the chairman now 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 document filed with the SEC, which is accessible through the SEC website. Also, insider Jonathan S. Beatty sold 2,300 shares of the business’s stock in a transaction on Monday, November 25th. The stock was 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. The trade was a 11.29 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 118,968 shares of company stock worth $8,842,821 over the last 90 days. Corporate insiders own 6.60% of the company’s stock.

Hedge Funds Weigh In On Charles Schwab

Large investors have recently bought and sold shares of the stock. Capital Performance Advisors LLP acquired a new position in Charles Schwab in the third quarter valued at $25,000. Washington Trust Advisors Inc. boosted its stake in 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 acquiring an additional 149 shares in the last quarter. Prospera Private Wealth LLC acquired a new position in Charles Schwab in the third quarter valued at $31,000. Future Financial Wealth Managment LLC acquired a new position in Charles Schwab in the third quarter valued at $32,000. Finally, Planning Capital Management Corp acquired a new position in Charles Schwab in the third quarter valued at $33,000. 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.