Piper Sandler Cuts Charles Schwab (NYSE:SCHW) Price Target to $74.00

Charles Schwab (NYSE:SCHW) had its target price decreased by analysts at Piper Sandler from $78.00 to $74.00 in a research note issued on Tuesday,Benzinga reports. The brokerage currently has a “neutral” rating on the financial services provider’s stock. Piper Sandler’s price objective would indicate a potential upside of 0.73% from the stock’s previous close.

Several other equities research analysts have also recently weighed in on SCHW. Citigroup raised Charles Schwab from a “neutral” rating to a “buy” rating and increased their price target for the company from $85.00 to $102.00 in a research note on Wednesday, April 2nd. Truist Financial reduced their price objective on shares of Charles Schwab from $91.00 to $85.00 and set a “buy” rating on the stock in a research note on Friday. Morgan Stanley upgraded shares of Charles Schwab from an “equal weight” rating to an “overweight” rating and set a $76.00 target price on the stock in a report on Tuesday. Keefe, Bruyette & Woods lifted their price objective on Charles Schwab from $81.00 to $93.00 and gave the stock an “outperform” rating in a research report on Friday, December 20th. Finally, Barclays reduced their target price on shares of Charles Schwab from $96.00 to $84.00 and set an “overweight” rating for the company in a research note on Monday. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $85.67.

Charles Schwab Trading Up 4.9 %

Shares of Charles Schwab stock traded up $3.43 on Tuesday, hitting $73.47. The stock had a trading volume of 3,742,646 shares, compared to its average volume of 9,068,632. Charles Schwab has a twelve month low of $61.01 and a twelve month 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 firm has a market capitalization of $133.24 billion, a P/E ratio of 24.66, a PEG ratio of 0.99 and a beta of 0.91. The stock has a 50 day moving average of $78.84 and a 200 day moving average of $75.93.

Charles Schwab (NYSE:SCHW) last issued its quarterly earnings data on Tuesday, January 21st. The financial services provider reported $1.01 earnings per share for the quarter, topping the consensus estimate of $0.90 by $0.11. The company had revenue of $5.33 billion for the quarter, compared to analysts’ expectations of $5.19 billion. Charles Schwab had a net margin of 30.31% and a return on equity of 18.20%. Charles Schwab’s revenue for the quarter was up 19.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.68 earnings per share. Sell-side analysts expect that Charles Schwab will post 4.22 earnings per share for the current fiscal year.

Insider Buying and Selling at Charles Schwab

In related news, Chairman Walter W. Bettinger sold 464,629 shares of Charles Schwab 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 transaction, the chairman now owns 827,377 shares in the company, valued at $67,770,450.07. This trade represents a 35.96 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Paul V. Woolway sold 3,380 shares of Charles Schwab stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $79.32, for a total transaction of $268,101.60. Following the completion of the sale, the insider now owns 57,818 shares in the company, valued at approximately $4,586,123.76. This trade represents a 5.52 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 513,081 shares of company stock valued at $41,903,066 in the last quarter. 6.60% of the stock is currently owned by corporate insiders.

Institutional Trading of Charles Schwab

Institutional investors and hedge funds have recently bought and sold shares of the stock. Spartan Planning & Wealth Management grew its stake in Charles Schwab by 9.2% in the first quarter. Spartan Planning & Wealth Management now owns 3,347 shares of the financial services provider’s stock worth $262,000 after purchasing an additional 281 shares during the period. Red Spruce Capital LLC increased its stake in shares of Charles Schwab by 0.4% in the 1st quarter. Red Spruce Capital LLC now owns 42,180 shares of the financial services provider’s stock worth $3,302,000 after acquiring an additional 149 shares in the last quarter. Parallel Advisors LLC grew its holdings in Charles Schwab by 9.1% in the first quarter. Parallel Advisors LLC now owns 39,272 shares of the financial services provider’s stock worth $3,074,000 after purchasing an additional 3,279 shares during the period. GAMMA Investing LLC grew its stake in shares of Charles Schwab by 9,938.8% in the 1st quarter. GAMMA Investing LLC now owns 2,123,110 shares of the financial services provider’s stock worth $166,197,000 after buying an additional 2,101,961 shares during the last quarter. Finally, AdvisorNet Financial Inc grew its stake in shares of Charles Schwab by 17.9% in the first quarter. AdvisorNet Financial Inc now owns 967 shares of the financial services provider’s stock worth $76,000 after acquiring an additional 147 shares during the last quarter. 84.38% of the stock is currently owned by hedge funds and other 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.