Deutsche Bank Aktiengesellschaft Cuts Charles Schwab (NYSE:SCHW) Price Target to $76.00

Charles Schwab (NYSE:SCHW) had its target price cut by Deutsche Bank Aktiengesellschaft from $77.00 to $76.00 in a research report released on Tuesday morning.

A number of other equities analysts also recently commented on SCHW. Bank of America decreased their target price on Charles Schwab from $72.00 to $66.00 and set an “underperform” rating for the company in a report on Wednesday, July 17th. Keefe, Bruyette & Woods decreased their target price on Charles Schwab from $80.00 to $76.00 and set an “overweight” rating for the company in a report on Tuesday. Cowen upped their target price on Charles Schwab from $69.00 to $75.00 and gave the company a “hold” rating in a report on Tuesday. The Goldman Sachs Group decreased their target price on Charles Schwab from $71.00 to $67.00 and set a “neutral” rating for the company in a report on Thursday, September 26th. Finally, JPMorgan Chase & Co. decreased their target price on Charles Schwab from $82.00 to $78.00 and set an “overweight” rating for the company in a report on Wednesday, July 17th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Charles Schwab currently has a consensus rating of “Hold” and a consensus price target of $73.59.

Charles Schwab Stock Performance

Shares of SCHW stock opened at $71.90 on Tuesday. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.42 and a current ratio of 0.42. Charles Schwab has a fifty-two week low of $48.66 and a fifty-two week high of $79.49. The stock has a 50 day moving average price of $64.80 and a two-hundred day moving average price of $69.53. The company has a market capitalization of $127.87 billion, a P/E ratio of 29.83, a PEG ratio of 1.47 and a beta of 0.97.

Charles Schwab (NYSE:SCHW) last announced its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $0.77 earnings per share for the quarter, beating the consensus estimate of $0.75 by $0.02. The firm had revenue of $4.85 billion during the quarter, compared to the consensus estimate of $4.78 billion. Charles Schwab had a return on equity of 18.14% and a net margin of 26.30%. The business’s revenue was up 5.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.77 earnings per share. Analysts expect that Charles Schwab will post 3.06 earnings per share for the current year.

Charles Schwab Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Friday, August 9th were paid a $0.25 dividend. The ex-dividend date of this dividend was Friday, August 9th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.39%. Charles Schwab’s dividend payout ratio is currently 41.49%.

Insider Transactions at Charles Schwab

In other news, Chairman Charles R. Schwab sold 62,345 shares of the 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 directly owns 60,619,371 shares of the company’s stock, valued at approximately $4,396,116,784.92. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, Chairman Charles R. Schwab sold 62,345 shares of the stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $72.52, for a total transaction of $4,521,259.40. Following the sale, the chairman now directly owns 60,619,371 shares of the company’s stock, valued at $4,396,116,784.92. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the stock in a transaction 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 sale, the director now directly owns 554,929 shares in the company, valued at $35,543,202.45. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 152,201 shares of company stock valued at $10,362,224. Insiders own 6.60% of the company’s stock.

Institutional Investors Weigh In On Charles Schwab

Several institutional investors have recently modified their holdings of SCHW. Country Trust Bank purchased a new stake in shares of Charles Schwab during the second quarter valued at $26,000. American Capital Advisory LLC purchased a new position in Charles Schwab in the second quarter worth about $27,000. Fortitude Family Office LLC boosted its position in Charles Schwab by 97.5% in the second quarter. Fortitude Family Office LLC now owns 389 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 192 shares during the last quarter. CGC Financial Services LLC purchased a new position in Charles Schwab in the second quarter worth about $29,000. Finally, Mizuho Securities Co. Ltd. purchased a new position in Charles Schwab in the second quarter worth about $29,000. 84.38% of the stock is owned by hedge funds and other institutional investors.

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.