Recent Research Analysts’ Ratings Changes for Charles Schwab (SCHW)

Posted by KOP Source Staff on Oct 24th, 2024

Several analysts have recently updated their ratings and price targets for Charles Schwab (NYSE: SCHW):

10/16/2024 – Charles Schwab had its price target lowered by analysts at Bank of America Co. from $63.00 to $61.00. They now have an “underperform” rating on the stock.
10/16/2024 – Charles Schwab had its price target raised by analysts at JPMorgan Chase & Co. from $86.00 to $87.00. They now have an “overweight” rating on the stock.
10/16/2024 – Charles Schwab had its price target raised by analysts at Keefe, Bruyette & Woods from $76.00 to $81.00. They now have an “outperform” rating on the stock.
10/16/2024 – Charles Schwab had its price target raised by analysts at Piper Sandler from $64.00 to $65.00. They now have a “neutral” rating on the stock.
10/16/2024 – Charles Schwab had its price target raised by analysts at The Goldman Sachs Group, Inc. from $67.00 to $74.00. They now have a “neutral” rating on the stock.
10/16/2024 – Charles Schwab had its price target raised by analysts at JMP Securities from $82.00 to $84.00. They now have a “market outperform” rating on the stock.
10/16/2024 – Charles Schwab was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating.
10/16/2024 – Charles Schwab had its price target raised by analysts at Barclays PLC from $64.00 to $74.00. They now have an “equal weight” rating on the stock.
10/16/2024 – Charles Schwab had its price target raised by analysts at Wells Fargo & Company from $70.00 to $75.00. They now have an “equal weight” rating on the stock.
10/15/2024 – Charles Schwab had its price target lowered by analysts at Keefe, Bruyette & Woods from $80.00 to $76.00. They now have an “overweight” rating on the stock.
10/15/2024 – Charles Schwab had its price target raised by analysts at Cowen Inc from $69.00 to $75.00. They now have a “hold” rating on the stock.
10/15/2024 – Charles Schwab had its price target lowered by analysts at Deutsche Bank Aktiengesellschaft from $77.00 to $76.00.
10/15/2024 – Charles Schwab had its price target lowered by analysts at Raymond James from $76.00 to $73.00.
10/7/2024 – Charles Schwab had its price target lowered by analysts at Morgan Stanley from $70.00 to $68.00. They now have an “equal weight” rating on the stock.
10/4/2024 – Charles Schwab had its price target lowered by analysts at Jefferies Financial Group Inc. from $79.00 to $73.00. They now have a “buy” rating on the stock.
9/27/2024 – Charles Schwab had its price target lowered by analysts at Citigroup Inc. from $75.00 to $72.00. They now have a “neutral” rating on the stock.
9/26/2024 – Charles Schwab had its price target lowered by analysts at The Goldman Sachs Group, Inc. from $71.00 to $67.00. They now have a “neutral” rating on the stock.
9/12/2024 – Charles Schwab is now covered by analysts at Wells Fargo & Company. They set an “equal weight” rating and a $70.00 price target on the stock.

Charles Schwab Price Performance

Shares of NYSE:SCHW traded up $0.46 during midday trading on Thursday, reaching $72.17. The company’s stock had a trading volume of 2,017,226 shares, compared to its average volume of 8,054,248. The business’s fifty day simple moving average is $65.45 and its 200-day simple moving average is $69.50. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.42 and a quick ratio of 0.42. The Charles Schwab Co. has a fifty-two week low of $48.66 and a fifty-two week high of $79.49. The company has a market capitalization of $128.35 billion, a P/E ratio of 28.19, a P/E/G ratio of 1.63 and a beta of 0.97.

Charles Schwab (NYSE:SCHW – Get Free Report) last announced its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $0.77 EPS for the quarter, beating analysts’ consensus estimates of $0.75 by $0.02. The firm had revenue of $4.85 billion for the quarter, compared to analyst estimates of $4.78 billion. Charles Schwab had a return on equity of 17.52% and a net margin of 27.47%. The business’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same period last year, the company earned $0.77 EPS. As a group, equities research analysts expect that The Charles Schwab Co. will post 3.11 EPS for the current fiscal year.

Charles Schwab Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Friday, November 8th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.39%. Charles Schwab’s dividend payout ratio is presently 39.06%.

Insiders Place Their Bets

In other Charles Schwab news, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $64.05, for a total value of $576,450.00. Following the completion of the sale, the director now owns 554,929 shares of the company’s stock, valued at approximately $35,543,202.45. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Charles Schwab news, Chairman Charles R. Schwab sold 62,345 shares of Charles Schwab stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $72.52, for a total value of $4,521,259.40. Following the sale, the chairman now directly owns 60,619,371 shares in the company, valued at approximately $4,396,116,784.92. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the firm’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $64.05, for a total value of $576,450.00. Following the completion of the transaction, the director now owns 554,929 shares of the company’s stock, valued at $35,543,202.45. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 182,001 shares of company stock worth $12,512,592. Insiders own 6.60% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Country Trust Bank acquired a new position in shares of Charles Schwab during the 2nd quarter worth approximately $26,000. American Capital Advisory LLC acquired a new stake in shares of Charles Schwab during the 2nd quarter worth $27,000. Fortitude Family Office LLC raised its position in shares of Charles Schwab by 97.5% in the 2nd quarter. Fortitude Family Office LLC now owns 389 shares of the financial services provider’s stock valued at $29,000 after buying an additional 192 shares in the last quarter. CGC Financial Services LLC bought a new stake in Charles Schwab during the 2nd quarter worth $29,000. Finally, Mizuho Securities Co. Ltd. acquired a new stake in shares of Charles Schwab during the second quarter valued at about $29,000. Institutional investors and hedge funds own 84.38% of the company’s stock.

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.