Analysts Set Charles Schwab Co. (NYSE:SCHW) Target Price at $42.90

Charles Schwab Co. (NYSE:SCHW) has earned a consensus rating of “Hold” from the eighteen analysts that are presently covering the company, MarketBeat reports. Ten investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $42.90.

Several research firms recently weighed in on SCHW. Morgan Stanley reduced their target price on Charles Schwab from $51.00 to $47.00 and set an “overweight” rating on the stock in a research report on Friday, July 24th. Wolfe Research upgraded Charles Schwab from an “underperform” rating to a “peer perform” rating and set a $36.00 target price on the stock in a research report on Thursday, July 9th. Deutsche Bank increased their target price on Charles Schwab from $37.00 to $38.00 and gave the stock a “hold” rating in a research report on Friday, July 17th. Wells Fargo & Company upped their price target on Charles Schwab from $34.00 to $35.00 and gave the stock an “equal weight” rating in a research note on Friday, July 10th. Finally, Citigroup upped their price target on Charles Schwab from $38.00 to $38.50 and gave the stock a “neutral” rating in a research note on Wednesday, July 22nd.

In other news, Chairman Charles R. Schwab sold 65,056 shares of the stock in a transaction dated Thursday, July 30th. The stock was sold at an average price of $33.19, for a total value of $2,159,208.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Charles R. Schwab sold 200,000 shares of the stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $34.11, for a total value of $6,822,000.00. The disclosure for this sale can be found here. 10.80% of the stock is currently owned by company insiders.

Hedge funds have recently bought and sold shares of the company. Mercer Global Advisors Inc. ADV grew its stake in Charles Schwab by 33.5% during the 1st quarter. Mercer Global Advisors Inc. ADV now owns 31,693 shares of the financial services provider’s stock valued at $1,066,000 after purchasing an additional 7,961 shares in the last quarter. Ironwood Investment Counsel LLC grew its stake in Charles Schwab by 15.3% during the 2nd quarter. Ironwood Investment Counsel LLC now owns 135,214 shares of the financial services provider’s stock valued at $4,562,000 after purchasing an additional 17,943 shares in the last quarter. Franklin Resources Inc. grew its stake in Charles Schwab by 12.2% during the 1st quarter. Franklin Resources Inc. now owns 7,639,370 shares of the financial services provider’s stock valued at $256,845,000 after purchasing an additional 829,748 shares in the last quarter. Brinker Capital Inc. grew its stake in Charles Schwab by 13.8% during the 2nd quarter. Brinker Capital Inc. now owns 65,501 shares of the financial services provider’s stock valued at $2,210,000 after purchasing an additional 7,964 shares in the last quarter. Finally, Two Sigma Advisers LP acquired a new stake in Charles Schwab during the 1st quarter valued at approximately $19,241,000. Institutional investors and hedge funds own 85.31% of the company’s stock.

NYSE SCHW traded up $0.22 during trading hours on Friday, hitting $36.03. 9,021,042 shares of the company’s stock were exchanged, compared to its average volume of 11,549,037. The business’s 50 day moving average is $34.93 and its 200-day moving average is $35.01. Charles Schwab has a 12-month low of $28.00 and a 12-month high of $51.65. The firm has a market capitalization of $46.43 billion, a P/E ratio of 15.14 and a beta of 1.17. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.30 and a current ratio of 0.30.

Charles Schwab (NYSE:SCHW) last released its earnings results on Thursday, July 16th. The financial services provider reported $0.54 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.53 by $0.01. Charles Schwab had a return on equity of 15.86% and a net margin of 31.48%. The firm had revenue of $2.45 billion for the quarter, compared to the consensus estimate of $2.48 billion. During the same period in the prior year, the business posted $0.66 earnings per share. The firm’s revenue for the quarter was down 8.6% compared to the same quarter last year. As a group, equities research analysts anticipate that Charles Schwab will post 2.13 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Friday, August 28th. Stockholders of record on Friday, August 7th were paid a $0.18 dividend. The ex-dividend date of this dividend was Thursday, August 6th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.00%. Charles Schwab’s dividend payout ratio (DPR) is currently 26.47%.

Charles Schwab Company Profile

The Charles Schwab Corporation, through its subsidiaries, provides wealth management, securities brokerage, banking, asset management, custody, and financial advisory services. The company operates through two segments, Investor Services and Advisor Services. The Investor Services segment provides retail brokerage and banking services, retirement plan services, and other corporate brokerage services; equity compensation plan sponsors full-service recordkeeping for stock plans, stock options, restricted stock, performance shares, and stock appreciation rights; and retail investor, retirement plan, and mutual fund clearing services.

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Analyst Recommendations for Charles Schwab (NYSE:SCHW)

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