Charles Schwab (NYSE:SCHW) Upgraded to “Buy” at TD Cowen

Charles Schwab (NYSE:SCHW) was upgraded by investment analysts at TD Cowen from a “hold” rating to a “buy” rating in a research note issued to investors on Tuesday,Briefing.com Automated Import reports. The brokerage currently has a $103.00 target price on the financial services provider’s stock, up from their prior target price of $88.00. TD Cowen’s price objective indicates a potential upside of 28.24% from the stock’s previous close.

Several other equities research analysts have also recently commented on the company. JMP Securities reissued a “market outperform” rating and issued a $94.00 price target (up previously from $84.00) on shares of Charles Schwab in a research note on Monday, December 9th. Keefe, Bruyette & Woods upped 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. Deutsche Bank Aktiengesellschaft upped their target price on Charles Schwab from $98.00 to $105.00 and gave the stock a “buy” rating in a research report on Wednesday, January 22nd. Citigroup upped their target price on Charles Schwab from $80.00 to $85.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 22nd. Finally, Wells Fargo & Company raised Charles Schwab from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $89.00 to $93.00 in a research report on Wednesday, January 22nd. Two analysts have rated the stock with a sell rating, six have given a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, Charles Schwab has an average rating of “Hold” and an average price target of $86.33.

Charles Schwab Trading Down 1.5 %

NYSE:SCHW opened at $80.32 on Tuesday. The stock has a market cap of $142.94 billion, a PE ratio of 26.86, a price-to-earnings-growth ratio of 1.02 and a beta of 0.99. The stock’s 50-day moving average is $78.01 and its two-hundred day moving average is $72.57. Charles Schwab has a fifty-two week low of $61.01 and a fifty-two week high of $84.50. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.47 and a quick ratio of 0.47.

Charles Schwab (NYSE:SCHW) last announced its quarterly earnings results on Tuesday, January 21st. The financial services provider reported $1.01 EPS for the quarter, beating the consensus estimate of $0.90 by $0.11. The business had revenue of $5.33 billion during the quarter, compared to analysts’ expectations of $5.19 billion. Charles Schwab had a return on equity of 18.20% and a net margin of 30.31%. The firm’s quarterly revenue was up 19.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.68 EPS. As a group, equities research analysts forecast that Charles Schwab will post 4.18 earnings per share for the current fiscal year.

Insider Activity at Charles Schwab

In other news, Chairman Walter W. Bettinger sold 464,629 shares of the stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $81.91, for a total transaction of $38,057,761.39. Following the sale, the chairman now owns 827,377 shares in the company, valued at approximately $67,770,450.07. This represents a 35.96 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Peter J. Morgan III sold 14,643 shares of the stock in a transaction on Wednesday, January 22nd. The stock was sold at an average price of $80.70, for a total value of $1,181,690.10. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 502,859 shares of company stock worth $41,161,496. 6.60% of the stock is owned by corporate insiders.

Institutional Trading of Charles Schwab

Large investors have recently made changes to their positions in the business. Washington Trust Advisors Inc. grew its holdings in shares of Charles Schwab by 62.6% during the third quarter. Washington Trust Advisors Inc. now owns 387 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 149 shares during the last quarter. Capital Performance Advisors LLP bought a new stake in shares of Charles Schwab during the third quarter worth $25,000. Prospera Private Wealth LLC bought a new stake in shares of Charles Schwab during the third quarter worth $31,000. Hazlett Burt & Watson Inc. bought a new position in Charles Schwab in the third quarter valued at about $33,000. Finally, Planning Capital Management Corp bought a new position in Charles Schwab in the third quarter valued at about $33,000. Institutional investors 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.