Wells Fargo & Company Has Lowered Expectations for Charles Schwab (NYSE:SCHW) Stock Price

Charles Schwab (NYSE:SCHW) had its price target reduced by research analysts at Wells Fargo & Company from $90.00 to $89.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage presently has an “equal weight” rating on the financial services provider’s stock. Wells Fargo & Company‘s price objective would suggest a potential upside of 20.68% from the stock’s previous close.

A number of other research firms also recently weighed in on SCHW. Bank of America dropped their target price on Charles Schwab from $63.00 to $61.00 and set an “underperform” rating for the company in a report on Wednesday, October 16th. Citigroup cut their price objective on shares of Charles Schwab from $85.00 to $80.00 and set a “neutral” rating for the company in a report on Friday, January 10th. Piper Sandler raised their target price on shares of Charles Schwab from $65.00 to $70.00 and gave the stock a “neutral” rating in a report on Tuesday, January 7th. Deutsche Bank Aktiengesellschaft boosted their price target on Charles Schwab from $77.00 to $80.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Finally, Keefe, Bruyette & Woods raised their price objective on Charles Schwab from $81.00 to $93.00 and gave the stock an “outperform” rating in a research note on Friday, December 20th. One investment 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 stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $81.63.

Charles Schwab Stock Up 1.9 %

Shares of SCHW opened at $73.75 on Tuesday. The firm’s 50-day simple moving average is $77.62 and its 200 day simple moving average is $70.58. 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 cap of $131.25 billion, a P/E ratio of 28.81, a price-to-earnings-growth ratio of 1.76 and a beta of 0.99. Charles Schwab has a 52 week low of $59.67 and a 52 week high of $83.35.

Charles Schwab (NYSE:SCHW) last announced its earnings results on Tuesday, October 15th. The financial services provider reported $0.77 earnings per share for the quarter, topping analysts’ consensus estimates of $0.75 by $0.02. The company had revenue of $4.85 billion for the quarter, compared to analyst estimates of $4.78 billion. Charles Schwab had a return on equity of 16.92% and a net margin of 27.47%. The firm’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.77 earnings per share. On average, analysts forecast that Charles Schwab will post 3.12 earnings per share for the current year.

Insiders Place Their Bets

In other Charles Schwab news, insider Nigel J. Murtagh sold 12,739 shares of the company’s stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $81.17, for a total value of $1,034,024.63. Following the completion of the transaction, the insider now directly owns 59,092 shares in the company, valued at approximately $4,796,497.64. This represents a 17.73 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Jonathan S. Beatty sold 2,300 shares of Charles Schwab 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 in the company, 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. Over the last quarter, insiders have sold 26,823 shares of company stock valued at $2,171,194. 6.60% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of SCHW. HF Advisory Group LLC increased its stake in shares of Charles Schwab by 1.3% in the fourth quarter. HF Advisory Group LLC now owns 37,869 shares of the financial services provider’s stock valued at $2,803,000 after buying an additional 492 shares during the period. Aaron Wealth Advisors LLC increased its position in Charles Schwab by 13.9% during the 4th quarter. Aaron Wealth Advisors LLC now owns 17,151 shares of the financial services provider’s stock valued at $1,269,000 after purchasing an additional 2,096 shares during the period. Moss Adams Wealth Advisors LLC bought a new position in Charles Schwab during the 4th quarter worth approximately $252,000. Krilogy Financial LLC lifted its position in shares of Charles Schwab by 1.9% in the 4th quarter. Krilogy Financial LLC now owns 19,281 shares of the financial services provider’s stock worth $1,427,000 after purchasing an additional 364 shares during the period. Finally, Ameritas Advisory Services LLC bought a new stake in shares of Charles Schwab in the 4th quarter valued at $422,000. 84.38% of the stock is 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.