Charles Schwab (NYSE:SCHW) Raised to Overweight at Morgan Stanley

Charles Schwab (NYSE:SCHW) was upgraded by analysts at Morgan Stanley from an “equal weight” rating to an “overweight” rating in a research note issued to investors on Tuesday,Briefing.com Automated Import reports. The firm presently has a $76.00 price target on the financial services provider’s stock. Morgan Stanley’s price target points to a potential upside of 4.46% from the stock’s previous close.

A number of other analysts have also recently issued reports on the company. Wells Fargo & Company raised Charles Schwab from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $89.00 to $93.00 in a research report on Wednesday, January 22nd. Keefe, Bruyette & Woods increased their price target on Charles Schwab from $81.00 to $93.00 and gave the company an “outperform” rating in a report on Friday, December 20th. Truist Financial decreased their price target on shares of Charles Schwab from $91.00 to $85.00 and set a “buy” rating for the company in a report on Friday. UBS Group raised their price target on Charles Schwab from $90.00 to $95.00 and gave the company a “buy” rating in a research report on Monday, January 27th. Finally, Piper Sandler increased their target price on Charles Schwab from $65.00 to $70.00 and gave the company a “neutral” rating in a research note on Tuesday, January 7th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $85.44.

Charles Schwab Stock Up 3.9 %

Shares of NYSE:SCHW opened at $72.76 on Tuesday. The firm has a 50 day simple moving average of $78.84 and a 200 day simple moving average of $75.93. Charles Schwab has a 52 week low of $61.01 and a 52 week high of $84.50. 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 company has a market cap of $131.95 billion, a PE ratio of 24.30, a price-to-earnings-growth ratio of 0.99 and a beta of 0.91.

Charles Schwab (NYSE:SCHW) last released its earnings results on Tuesday, January 21st. The financial services provider reported $1.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $5.19 billion. During the same quarter in the prior year, the company earned $0.68 earnings per share. The company’s revenue for the quarter was up 19.5% on a year-over-year basis. As a group, research analysts expect that Charles Schwab will post 4.22 earnings per share for the current year.

Insider Activity

In other news, Chairman Walter W. Bettinger sold 464,629 shares of the business’s stock in a transaction on Wednesday, February 12th. The shares were sold at an average price of $81.91, for a total value 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. The trade was a 35.96 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Paul V. Woolway sold 3,380 shares of Charles Schwab stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $79.32, for a total transaction of $268,101.60. Following the transaction, the insider now directly owns 57,818 shares of the company’s stock, valued at $4,586,123.76. This represents a 5.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 513,081 shares of company stock worth $41,903,066. Company insiders own 6.60% of the company’s stock.

Institutional Investors Weigh In On Charles Schwab

Hedge funds and other institutional investors have recently bought and sold shares of the business. Parallel Advisors LLC raised its holdings in shares of Charles Schwab by 9.1% in the first quarter. Parallel Advisors LLC now owns 39,272 shares of the financial services provider’s stock valued at $3,074,000 after buying an additional 3,279 shares during the last quarter. GAMMA Investing LLC raised its stake in shares of Charles Schwab by 9,938.8% in the first quarter. GAMMA Investing LLC now owns 2,123,110 shares of the financial services provider’s stock worth $166,197,000 after acquiring an additional 2,101,961 shares during the last quarter. AdvisorNet Financial Inc lifted its position in shares of Charles Schwab by 17.9% during the first quarter. AdvisorNet Financial Inc now owns 967 shares of the financial services provider’s stock worth $76,000 after purchasing an additional 147 shares in the last quarter. Webster Bank N. A. grew its stake in shares of Charles Schwab by 0.8% during the first quarter. Webster Bank N. A. now owns 35,868 shares of the financial services provider’s stock valued at $2,808,000 after purchasing an additional 277 shares during the last quarter. Finally, Quent Capital LLC increased its holdings in shares of Charles Schwab by 11.8% in the first quarter. Quent Capital LLC now owns 3,199 shares of the financial services provider’s stock valued at $250,000 after purchasing an additional 337 shares in the last quarter. 84.38% of the stock is owned by institutional investors and hedge funds.

Charles Schwab Company Profile

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.