Charles Schwab (NYSE:SCHW) Earns Equal Weight Rating from Analysts at Wells Fargo & Company

Wells Fargo & Company began coverage on shares of Charles Schwab (NYSE:SCHW) in a report issued on Thursday morning, MarketBeat Ratings reports. The firm issued an equal weight rating and a $70.00 target price on the financial services provider’s stock.

A number of other equities research analysts have also commented on SCHW. Piper Sandler lowered shares of Charles Schwab from an overweight rating to a neutral rating and decreased their price objective for the stock from $80.00 to $64.00 in a report on Monday, July 29th. Morgan Stanley dropped their target price on Charles Schwab from $71.00 to $70.00 and set an equal weight rating for the company in a research report on Friday, August 16th. UBS Group lowered their price objective on Charles Schwab from $91.00 to $90.00 and set a buy rating for the company in a research report on Tuesday, July 9th. Bank of America cut their target price on shares of Charles Schwab from $72.00 to $66.00 and set an underperform rating on the stock in a research report on Wednesday, July 17th. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on shares of Charles Schwab from $79.00 to $80.00 and gave the stock a buy rating in a research report on Thursday, August 15th. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of Hold and an average target price of $73.75.

Charles Schwab Stock Up 0.6 %

Shares of NYSE:SCHW opened at $62.12 on Thursday. The company has a market capitalization of $110.48 billion, a PE ratio of 25.99, a P/E/G ratio of 1.16 and a beta of 0.97. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.42 and a current ratio of 0.42. The company’s fifty day moving average is $65.33 and its 200-day moving average is $70.07. Charles Schwab has a 52 week low of $48.66 and a 52 week high of $79.49.

Charles Schwab (NYSE:SCHW) last posted its earnings results on Tuesday, July 16th. The financial services provider reported $0.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.72 by $0.01. Charles Schwab had a net margin of 26.30% and a return on equity of 18.14%. The company had revenue of $4.69 billion during the quarter, compared to analysts’ expectations of $4.68 billion. During the same quarter in the previous year, the company posted $0.75 earnings per share. Charles Schwab’s quarterly revenue was up .7% compared to the same quarter last year. Equities research analysts predict that Charles Schwab will post 3.05 earnings per share for the current fiscal year.

Charles Schwab Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Friday, August 9th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.61%. The ex-dividend date of this dividend was Friday, August 9th. Charles Schwab’s dividend payout ratio is 41.84%.

Insider Activity

In other news, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $72.49, for a total transaction of $652,410.00. Following the completion of the transaction, the director now directly owns 570,657 shares of the company’s stock, valued at approximately $41,366,925.93. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Chairman Charles R. Schwab sold 67,386 shares of the business’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $65.11, for a total transaction of $4,387,502.46. Following the transaction, the chairman now directly owns 60,619,371 shares in the company, valued at $3,946,927,245.81. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $72.49, for a total transaction of $652,410.00. Following the completion of the sale, the director now owns 570,657 shares of the company’s stock, valued at approximately $41,366,925.93. The disclosure for this sale can be found here. Insiders have sold a total of 99,636 shares of company stock worth $6,533,064 over the last three months. Corporate insiders own 6.60% of the company’s stock.

Institutional Investors Weigh In On Charles Schwab

Several hedge funds have recently bought and sold shares of SCHW. Nelson Capital Management LLC increased its stake in shares of Charles Schwab by 0.4% during the first quarter. Nelson Capital Management LLC now owns 37,726 shares of the financial services provider’s stock worth $2,729,000 after purchasing an additional 141 shares during the period. Abbrea Capital LLC lifted its holdings in shares of Charles Schwab by 2.5% during the first quarter. Abbrea Capital LLC now owns 5,777 shares of the financial services provider’s stock worth $418,000 after buying an additional 142 shares in the last quarter. Ironwood Financial llc boosted its position in shares of Charles Schwab by 1.6% in the first quarter. Ironwood Financial llc now owns 10,186 shares of the financial services provider’s stock valued at $737,000 after acquiring an additional 160 shares during the period. Ascent Wealth Partners LLC grew its position in shares of Charles Schwab by 0.7% during the 2nd quarter. Ascent Wealth Partners LLC now owns 23,361 shares of the financial services provider’s stock worth $1,721,000 after purchasing an additional 164 shares in the last quarter. Finally, Sculati Wealth Management LLC grew its position in Charles Schwab by 0.4% during the fourth quarter. Sculati Wealth Management LLC now owns 42,971 shares of the financial services provider’s stock worth $2,956,000 after buying an additional 165 shares in the last quarter. 84.38% of the stock is currently owned by institutional investors and hedge funds.

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.