Charles Schwab (NYSE:SCHW) Receives Buy Rating from Truist Financial

Charles Schwab (NYSE:SCHW)‘s stock had its “buy” rating reiterated by analysts at Truist Financial in a report issued on Wednesday,Benzinga reports. They currently have a $90.00 price objective on the financial services provider’s stock, up from their previous price objective of $86.00. Truist Financial’s price target would indicate a potential upside of 12.00% from the stock’s previous close.

Several other research firms have also commented on SCHW. Raymond James reduced their target price on shares of Charles Schwab from $76.00 to $73.00 in a report on Tuesday, October 15th. 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 research report on Tuesday, January 7th. Cowen raised their target price on shares of Charles Schwab from $69.00 to $75.00 and gave the stock a “hold” rating in a research report on Tuesday, October 15th. Wells Fargo & Company raised shares of Charles Schwab from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $89.00 to $93.00 in a research report on Wednesday. Finally, The Goldman Sachs Group raised their target price on shares of Charles Schwab from $67.00 to $74.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 16th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, Charles Schwab has a consensus rating of “Hold” and an average price target of $83.83.

Charles Schwab Price Performance

NYSE SCHW traded down $0.58 on Wednesday, hitting $80.36. The stock had a trading volume of 2,823,112 shares, compared to its average volume of 9,078,963. Charles Schwab has a 52-week low of $61.01 and a 52-week high of $83.35. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.47 and a current ratio of 0.47. The company has a market capitalization of $143.00 billion, a price-to-earnings ratio of 31.39, a price-to-earnings-growth ratio of 1.40 and a beta of 0.99. The firm has a 50-day moving average of $77.71 and a 200-day moving average of $70.68.

Charles Schwab (NYSE:SCHW) last posted its quarterly earnings data on Tuesday, January 21st. The financial services provider reported $1.01 earnings per share for the quarter, beating the consensus estimate of $0.90 by $0.11. The firm had revenue of $5.33 billion for the quarter, compared to analysts’ expectations of $5,190,822.51 billion. Charles Schwab had a net margin of 27.47% and a return on equity of 16.92%. The business’s quarterly revenue was up 19.5% on a year-over-year basis. During the same quarter last year, the company posted $0.68 EPS. Equities analysts expect that Charles Schwab will post 3.16 EPS for the current year.

Insiders Place Their Bets

In other news, Director Christopher V. Dodds sold 9,284 shares of Charles Schwab stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $81.43, for a total value of $755,996.12. Following the completion of the sale, the director now directly owns 442,807 shares in the company, valued at $36,057,774.01. The trade was a 2.05 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Jonathan S. Beatty sold 2,500 shares of Charles Schwab stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $77.02, for a total transaction of $192,550.00. Following the completion of the sale, the insider now owns 18,069 shares of the company’s stock, valued at $1,391,674.38. This represents a 12.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 26,823 shares of company stock valued at $2,171,194. Insiders own 6.60% of the company’s stock.

Institutional Trading of Charles Schwab

A number of large investors have recently made changes to their positions in the stock. United Asset Strategies Inc. grew its stake in shares of Charles Schwab by 1.3% in the fourth quarter. United Asset Strategies Inc. now owns 188,239 shares of the financial services provider’s stock worth $13,932,000 after acquiring an additional 2,497 shares during the period. KBC Group NV grew its position in Charles Schwab by 186.7% during the fourth quarter. KBC Group NV now owns 2,138,033 shares of the financial services provider’s stock valued at $158,236,000 after buying an additional 1,392,255 shares during the period. Capital Asset Advisory Services LLC bought a new stake in Charles Schwab during the fourth quarter valued at approximately $202,000. Blue Trust Inc. grew its position in Charles Schwab by 20.7% during the fourth quarter. Blue Trust Inc. now owns 23,565 shares of the financial services provider’s stock valued at $1,744,000 after buying an additional 4,048 shares during the period. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its position in Charles Schwab by 3.5% during the fourth quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 104,832 shares of the financial services provider’s stock valued at $7,759,000 after buying an additional 3,587 shares during the period. 84.38% of the stock is currently owned by 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.