Charles Schwab (NYSE:SCHW) Price Target Raised to $93.00 at JPMorgan Chase & Co.

Charles Schwab (NYSE:SCHW) had its target price lifted by JPMorgan Chase & Co. from $87.00 to $93.00 in a research note issued to investors on Tuesday morning,Benzinga reports. The firm currently has an overweight rating on the financial services provider’s stock.

SCHW has been the topic of a number of other reports. Morgan Stanley lifted their price objective on shares of Charles Schwab from $68.00 to $74.00 and gave the company an “equal weight” rating in a research note on Thursday, October 24th. StockNews.com raised Charles Schwab from a “sell” rating to a “hold” rating in a report on Wednesday, October 16th. JMP Securities reissued a “market outperform” rating and issued a $94.00 price objective (up previously from $84.00) on shares of Charles Schwab in a research note on Monday, December 9th. Barclays raised Charles Schwab from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $74.00 to $95.00 in a report on Monday, December 9th. Finally, Cowen lifted their price target on Charles Schwab from $69.00 to $75.00 and gave the company a “hold” rating in a research note on Tuesday, October 15th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the stock. According to MarketBeat, Charles Schwab has a consensus rating of “Hold” and a consensus price target of $81.19.

Charles Schwab Trading Down 3.1 %

Shares of NYSE:SCHW opened at $72.15 on Tuesday. The business’s 50 day simple moving average is $77.45 and its 200 day simple moving average is $70.62. Charles Schwab has a 1 year low of $59.67 and a 1 year high of $83.35. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.47 and a quick ratio of 0.47. The company has a market capitalization of $128.40 billion, a P/E ratio of 28.18, a P/E/G ratio of 1.76 and a beta of 0.99.

Charles Schwab (NYSE:SCHW) last issued its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $0.77 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 for the quarter, compared to analysts’ expectations of $4.78 billion. During the same quarter last year, the business earned $0.77 earnings per share. Charles Schwab’s revenue was up 5.2% on a year-over-year basis. On average, research analysts anticipate that Charles Schwab will post 3.12 EPS for the current fiscal year.

Charles Schwab Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Friday, November 8th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.39%. The ex-dividend date was Friday, November 8th. Charles Schwab’s payout ratio is 39.06%.

Insiders Place Their Bets

In related news, Chairman Charles R. Schwab sold 62,345 shares of Charles Schwab stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $72.52, for a total transaction of $4,521,259.40. Following the transaction, the chairman now owns 60,619,371 shares of the company’s stock, valued at $4,396,116,784.92. The trade was a 0.10 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Carolyn Schwab-Pomerantz sold 29,800 shares of the stock in a transaction on Thursday, October 17th. The shares were sold at an average price of $72.16, for a total value of $2,150,368.00. Following the completion of the sale, the director now directly owns 551,329 shares of the company’s stock, valued at $39,783,900.64. The trade was a 5.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 118,968 shares of company stock worth $8,842,821. Corporate insiders own 6.60% of the company’s stock.

Hedge Funds Weigh In On Charles Schwab

Several institutional investors have recently modified their holdings of SCHW. 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 during the last quarter. Capital Performance Advisors LLP purchased a new stake in Charles Schwab in the 3rd quarter worth about $25,000. Prospera Private Wealth LLC bought a new stake in Charles Schwab in the 3rd quarter valued at about $31,000. Future Financial Wealth Managment LLC bought a new position in Charles Schwab during the third quarter worth about $32,000. Finally, Hazlett Burt & Watson Inc. bought a new stake in shares of Charles Schwab in the third quarter valued at approximately $33,000. 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.