Charles Schwab (NYSE:SCHW) Price Target Lowered to $80.00 at Citigroup

Charles Schwab (NYSE:SCHW) had its target price reduced by analysts at Citigroup from $85.00 to $80.00 in a note issued to investors on Friday,Benzinga reports. The brokerage currently has a “neutral” rating on the financial services provider’s stock. Citigroup’s price target points to a potential upside of 10.10% from the stock’s previous close.

Other research analysts have also recently issued reports about the stock. Piper Sandler raised their target price on shares of Charles Schwab from $65.00 to $70.00 and gave the stock a “neutral” rating in a report on Tuesday. Morgan Stanley increased their target price on Charles Schwab from $68.00 to $74.00 and gave the company an “equal weight” rating in a report on Thursday, October 24th. Keefe, Bruyette & Woods upped their price target on Charles Schwab from $81.00 to $93.00 and gave the company an “outperform” rating in a research report on Friday, December 20th. Truist Financial raised Charles Schwab to a “strong-buy” rating in a research note on Monday. Finally, JMP Securities reissued a “market outperform” rating and issued a $94.00 price target (up from $84.00) on shares of Charles Schwab in a research report on Monday, December 9th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $81.69.

Charles Schwab Price Performance

Shares of NYSE:SCHW traded down $0.34 during trading hours on Friday, hitting $72.66. 6,715,779 shares of the company’s stock traded hands, compared to its average volume of 7,728,385. Charles Schwab has a 52 week low of $59.67 and a 52 week high of $83.35. The company has a market cap of $129.31 billion, a price-to-earnings ratio of 28.38, a price-to-earnings-growth ratio of 1.76 and a beta of 0.99. The company’s fifty day simple moving average is $77.53 and its two-hundred day simple moving average is $70.65. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.47 and a current ratio of 0.47.

Charles Schwab (NYSE:SCHW) 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 company 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%. The company’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.77 EPS. As a group, equities analysts anticipate that Charles Schwab will post 3.12 EPS for the current fiscal year.

Insider Activity at Charles Schwab

In other Charles Schwab news, insider Nigel J. Murtagh sold 12,739 shares of the firm’s stock in a transaction on 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 in the company, valued at $4,796,497.64. This trade represents a 17.73 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Jonathan S. Beatty sold 2,300 shares of the company’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $82.01, for a total transaction of $188,623.00. Following the transaction, the insider now directly owns 18,069 shares of the company’s stock, valued at $1,481,838.69. This represents a 11.29 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 118,968 shares of company stock worth $8,842,821. 6.60% of the stock is owned by insiders.

Institutional Trading of Charles Schwab

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Capital Performance Advisors LLP bought a new stake in shares of Charles Schwab during the third quarter valued at approximately $25,000. Washington Trust Advisors Inc. increased its stake in shares of Charles Schwab by 62.6% in the 3rd quarter. Washington Trust Advisors Inc. now owns 387 shares of the financial services provider’s stock valued at $25,000 after buying an additional 149 shares during the period. Prospera Private Wealth LLC bought a new stake in shares of Charles Schwab during the third quarter worth $31,000. Future Financial Wealth Managment LLC bought a new position in Charles Schwab in the third quarter valued at about $32,000. Finally, Planning Capital Management Corp acquired a new stake in Charles Schwab in the third quarter worth about $33,000. 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.