Charles Schwab (NYSE:SCHW) Price Target Increased to $74.00 by Analysts at Morgan Stanley

Charles Schwab (NYSE:SCHW) had its price target lifted by Morgan Stanley from $68.00 to $74.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage currently has an equal weight rating on the financial services provider’s stock.

Other research analysts have also recently issued reports about the stock. UBS Group decreased their price objective on shares of Charles Schwab from $91.00 to $90.00 and set a “buy” rating for the company in a report on Tuesday, July 9th. Raymond James decreased their target price on Charles Schwab from $76.00 to $73.00 in a research note on Tuesday, October 15th. Wells Fargo & Company raised their price objective on shares of Charles Schwab from $70.00 to $75.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 16th. JMP Securities increased their price target on Charles Schwab from $82.00 to $84.00 and gave the company a “market outperform” rating in a research report on Wednesday, October 16th. Finally, Deutsche Bank Aktiengesellschaft dropped their target price on shares of Charles Schwab from $77.00 to $76.00 in a research report on Tuesday, October 15th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, Charles Schwab presently has a consensus rating of “Hold” and a consensus price target of $73.94.

Charles Schwab Stock Down 0.6 %

Charles Schwab stock traded down $0.46 during midday trading on Thursday, hitting $72.13. The stock had a trading volume of 1,157,411 shares, compared to its average volume of 8,044,896. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 0.65. The business has a fifty day moving average price of $65.45 and a 200 day moving average price of $69.50. Charles Schwab has a 12 month low of $49.16 and a 12 month high of $79.49. The stock has a market cap of $128.20 billion, a P/E ratio of 30.37, a P/E/G ratio of 1.63 and a beta of 0.97.

Charles Schwab (NYSE:SCHW) last posted its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $0.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.75 by $0.02. The company had revenue of $4.85 billion for the quarter, compared to the consensus estimate of $4.78 billion. Charles Schwab had a net margin of 27.47% and a return on equity of 17.52%. The company’s revenue for the quarter was up 5.2% on a year-over-year basis. During the same period last year, the firm posted $0.77 EPS. Research analysts predict that Charles Schwab will post 3.11 EPS for the current year.

Charles Schwab Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Friday, November 8th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Friday, November 8th. This represents a $1.00 annualized dividend and a dividend yield of 1.39%. Charles Schwab’s dividend payout ratio is currently 41.84%.

Insider Buying and Selling

In other news, Chairman Charles R. Schwab sold 62,345 shares of the business’s 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 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 document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Paul V. Woolway sold 1,150 shares of the stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $65.20, for a total transaction of $74,980.00. Following the sale, the insider now directly owns 61,887 shares of the company’s stock, valued at $4,035,032.40. 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 available through this link. Also, Chairman Charles R. Schwab sold 62,345 shares of the business’s stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $72.52, for a total value of $4,521,259.40. Following the sale, the chairman now owns 60,619,371 shares of the company’s stock, valued at approximately $4,396,116,784.92. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 182,001 shares of company stock worth $12,512,592 in the last 90 days. 6.60% of the stock is owned by company insiders.

Institutional Trading of Charles Schwab

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

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.