Charles Schwab (NYSE:SCHW) Upgraded to “Strong-Buy” at Truist Financial

Truist Financial upgraded shares of Charles Schwab (NYSE:SCHW) to a strong-buy rating in a research report report published on Monday,Zacks.com reports.

A number of other equities research analysts also recently weighed in on the company. StockNews.com upgraded Charles Schwab from a “sell” rating to a “hold” rating in a report on Wednesday, October 16th. Piper Sandler lifted their target price on Charles Schwab from $65.00 to $70.00 and gave the company a “neutral” rating in a research report on Tuesday. Keefe, Bruyette & Woods raised their price target on shares of Charles Schwab from $81.00 to $93.00 and gave the company an “outperform” rating in a research report on Friday, December 20th. Citigroup cut their price target on Charles Schwab from $75.00 to $72.00 and set a “neutral” rating for the company in a research note on Friday, September 27th. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Charles Schwab from $77.00 to $80.00 and gave the company a “buy” rating in a research note on Monday, November 11th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Charles Schwab presently has a consensus rating of “Moderate Buy” and a consensus target price of $81.19.

Charles Schwab Stock Performance

Shares of NYSE:SCHW opened at $72.93 on Monday. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 0.59. Charles Schwab has a 12-month low of $59.67 and a 12-month high of $83.35. The company’s 50 day moving average price is $77.49 and its two-hundred day moving average price is $70.63. The firm has a market cap of $129.79 billion, a PE ratio of 28.49, a PEG ratio of 1.76 and a beta of 0.99.

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, topping the consensus estimate of $0.75 by $0.02. The business 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 16.92% and a net margin of 27.47%. Charles Schwab’s revenue for the quarter was up 5.2% on a year-over-year basis. During the same period in the prior year, the company earned $0.77 EPS. Equities research analysts predict that Charles Schwab will post 3.12 earnings per share for the current year.

Charles Schwab Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Friday, November 8th were issued a $0.25 dividend. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.00 dividend on an annualized basis and a yield of 1.37%. Charles Schwab’s payout ratio is currently 39.06%.

Insider Activity

In related news, Chairman Charles R. Schwab sold 62,345 shares of the firm’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 transaction, the chairman now directly owns 60,619,371 shares of the company’s stock, valued at approximately $4,396,116,784.92. This trade represents a 0.10 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Nigel J. Murtagh sold 12,739 shares of the business’s stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $81.17, for a total value of $1,034,024.63. Following the sale, the insider now directly owns 59,092 shares of the company’s stock, valued at $4,796,497.64. This represents a 17.73 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 118,968 shares of company stock valued at $8,842,821 over the last ninety days. 6.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Charles Schwab

Hedge funds and other institutional investors have recently made changes to their positions in the company. Michael S. Ryan Inc. lifted its holdings in shares of Charles Schwab by 2.5% in the 4th quarter. Michael S. Ryan Inc. now owns 5,998 shares of the financial services provider’s stock worth $444,000 after buying an additional 144 shares during the period. Collective Family Office LLC bought a new position in shares of Charles Schwab in the 4th quarter worth $202,000. Spartan Planning & Wealth Management bought a new stake in Charles Schwab during the fourth quarter valued at about $227,000. Diversified Trust Co grew its stake in Charles Schwab by 13.3% in the fourth quarter. Diversified Trust Co now owns 8,215 shares of the financial services provider’s stock valued at $608,000 after purchasing an additional 962 shares during the last quarter. Finally, Canandaigua National Bank & Trust Co. raised its holdings in Charles Schwab by 6.7% in the fourth quarter. Canandaigua National Bank & Trust Co. now owns 33,176 shares of the financial services provider’s stock worth $2,455,000 after purchasing an additional 2,092 shares in the last quarter. Hedge funds and other 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.