Truist Financial Reiterates Buy Rating for Charles Schwab (NYSE:SCHW)

Charles Schwab (NYSE:SCHW)‘s stock had its “buy” rating restated by stock analysts at Truist Financial in a report released on Wednesday,Benzinga reports. They currently have a $90.00 price objective on the financial services provider’s stock, up from their prior price objective of $86.00. Truist Financial’s price objective indicates a potential upside of 9.81% from the company’s previous close.

Other analysts have also issued reports about the stock. Raymond James decreased their price target on shares of Charles Schwab from $76.00 to $73.00 in a research report on Tuesday, October 15th. Barclays boosted their price target on Charles Schwab from $95.00 to $96.00 and gave the company an “overweight” rating in a research note on Wednesday. Jefferies Financial Group raised their price objective on Charles Schwab from $84.00 to $94.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Redburn Partners lowered their price objective on Charles Schwab from $70.00 to $68.00 and set a “sell” rating on the stock in a research report on Friday, January 17th. Finally, Keefe, Bruyette & Woods raised their target price on Charles Schwab from $81.00 to $93.00 and gave the stock an “outperform” rating in a research report on Friday, December 20th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $83.83.

Charles Schwab Trading Up 1.7 %

Charles Schwab stock opened at $81.96 on Wednesday. Charles Schwab has a 52 week low of $61.01 and a 52 week high of $83.35. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.47 and a current ratio of 0.47. The firm has a market capitalization of $145.86 billion, a PE ratio of 27.41, a PEG ratio of 1.48 and a beta of 0.99. The business’s 50-day simple moving average is $77.75 and its 200-day simple moving average is $70.75.

Charles Schwab (NYSE:SCHW) last issued its quarterly earnings results on Tuesday, January 21st. The financial services provider reported $1.01 EPS for the quarter, topping the consensus estimate of $0.90 by $0.11. Charles Schwab had a return on equity of 18.20% and a net margin of 30.31%. The company had revenue of $5.33 billion for the quarter, compared to the consensus estimate of $5,190,822.51 billion. During the same period in the previous year, the business posted $0.68 EPS. The company’s revenue for the quarter was up 19.5% on a year-over-year basis. Equities research analysts forecast that Charles Schwab will post 4.04 earnings per share for the current year.

Insider Buying and Selling

In other Charles Schwab news, insider Jonathan S. Beatty sold 2,500 shares of the stock in a transaction on Monday, November 11th. The stock was sold at an average price of $77.02, for a total value of $192,550.00. Following the transaction, the insider now directly owns 18,069 shares in the company, valued at approximately $1,391,674.38. This trade represents a 12.15 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Christopher V. Dodds sold 9,284 shares of the business’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $81.43, for a total value of $755,996.12. Following the sale, the director now owns 442,807 shares of the company’s stock, valued at approximately $36,057,774.01. The trade was a 2.05 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 26,823 shares of company stock worth $2,171,194 in the last 90 days. Corporate insiders own 6.60% of the company’s stock.

Institutional Investors Weigh In On Charles Schwab

Institutional investors have recently modified their holdings of the business. Merit Financial Group LLC boosted its stake in Charles Schwab by 230.1% in the fourth quarter. Merit Financial Group LLC now owns 33,546 shares of the financial services provider’s stock valued at $2,483,000 after acquiring an additional 23,383 shares during the last quarter. Benjamin Edwards Inc. boosted its position in shares of Charles Schwab by 2,840.7% in the 3rd quarter. Benjamin Edwards Inc. now owns 6,146 shares of the financial services provider’s stock worth $398,000 after purchasing an additional 5,937 shares during the last quarter. Synovus Financial Corp grew its stake in shares of Charles Schwab by 46.0% during the third quarter. Synovus Financial Corp now owns 67,889 shares of the financial services provider’s stock worth $4,400,000 after purchasing an additional 21,377 shares during the period. Patten & Patten Inc. TN grew 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 worth $6,751,000 after buying an additional 63,463 shares during the period. Finally, Equity Investment Corp increased its stake in shares of Charles Schwab by 9.4% in the 3rd quarter. Equity Investment Corp now owns 1,640,157 shares of the financial services provider’s stock valued at $106,299,000 after acquiring an additional 140,643 shares during the last quarter. 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.