Charles Schwab (NYSE:SCHW) Price Target Cut to $73.00

Charles Schwab (NYSE:SCHW) had its target price decreased by equities research analysts at Jefferies Financial Group from $79.00 to $73.00 in a research note issued on Friday, Benzinga reports. The firm presently has a “buy” rating on the financial services provider’s stock. Jefferies Financial Group’s price objective would suggest a potential upside of 12.74% from the stock’s previous close.

Other equities research analysts have also recently issued research reports about the stock. JPMorgan Chase & Co. cut their price objective on shares of Charles Schwab from $82.00 to $78.00 and set an “overweight” rating for the company in a research report on Wednesday, July 17th. TD Cowen reissued a “hold” rating and issued a $71.00 price objective (down from $88.00) on shares of Charles Schwab in a research note on Wednesday, July 17th. Barclays cut their target price on Charles Schwab from $77.00 to $68.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 17th. Bank of America decreased their price target on Charles Schwab from $72.00 to $66.00 and set an “underperform” rating on the stock in a research note on Wednesday, July 17th. Finally, Citigroup reduced their price objective on Charles Schwab from $75.00 to $72.00 and set a “neutral” rating on the stock in a research note on Friday, September 27th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $72.38.

Charles Schwab Stock Performance

Shares of NYSE:SCHW opened at $64.75 on Friday. Charles Schwab has a 12-month low of $48.66 and a 12-month high of $79.49. The company’s 50 day moving average price is $63.97 and its two-hundred day moving average price is $69.72. The firm has a market cap of $115.15 billion, a PE ratio of 27.09, a PEG ratio of 1.29 and a beta of 0.97. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 0.65.

Charles Schwab (NYSE:SCHW) last posted its quarterly earnings data on Tuesday, July 16th. The financial services provider reported $0.73 EPS for the quarter, topping analysts’ consensus estimates of $0.72 by $0.01. The firm had revenue of $4.69 billion for the quarter, compared to analyst estimates of $4.68 billion. Charles Schwab had a return on equity of 18.14% and a net margin of 26.30%. The company’s revenue was up .7% on a year-over-year basis. During the same quarter last year, the company earned $0.75 EPS. Equities research analysts predict that Charles Schwab will post 3.06 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Jonathan S. Beatty sold 780 shares of the company’s stock in a transaction that occurred on Thursday, July 11th. The stock was sold at an average price of $75.00, for a total value of $58,500.00. Following the transaction, the insider now owns 18,069 shares in the company, valued at approximately $1,355,175. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Charles Schwab news, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the business’s stock in a transaction on Friday, July 19th. The shares were sold at an average price of $61.96, for a total transaction of $557,640.00. Following the sale, the director now owns 567,057 shares of the company’s stock, valued at $35,134,851.72. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Jonathan S. Beatty sold 780 shares of Charles Schwab stock in a transaction dated Thursday, July 11th. The shares were sold at an average price of $75.00, for a total value of $58,500.00. Following the transaction, the insider now directly owns 18,069 shares of the company’s stock, valued at $1,355,175. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 99,636 shares of company stock valued at $6,457,104. Company 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 company. M&G Plc bought a new position in Charles Schwab in the 1st quarter worth about $11,452,000. Teewinot Capital Advisers L.L.C. grew its holdings in shares of Charles Schwab by 9.0% during the second quarter. Teewinot Capital Advisers L.L.C. now owns 775,161 shares of the financial services provider’s stock worth $57,122,000 after purchasing an additional 64,041 shares in the last quarter. Daiwa Securities Group Inc. increased its position in shares of Charles Schwab by 10.4% in the first quarter. Daiwa Securities Group Inc. now owns 190,597 shares of the financial services provider’s stock worth $13,788,000 after purchasing an additional 17,925 shares during the last quarter. Wedmont Private Capital raised its stake in Charles Schwab by 12.2% in the first quarter. Wedmont Private Capital now owns 13,130 shares of the financial services provider’s stock valued at $949,000 after purchasing an additional 1,430 shares in the last quarter. Finally, Bridgewater Associates LP lifted its position in Charles Schwab by 217.8% during the fourth quarter. Bridgewater Associates LP now owns 194,339 shares of the financial services provider’s stock valued at $13,371,000 after purchasing an additional 133,186 shares during the last quarter. 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.