Charles Schwab (NYSE:SCHW) Upgraded to Overweight at Wells Fargo & Company

Wells Fargo & Company upgraded shares of Charles Schwab (NYSE:SCHW) from an equal weight rating to an overweight rating in a research note published on Wednesday morning, MarketBeat Ratings reports. Wells Fargo & Company currently has $93.00 price objective on the financial services provider’s stock, up from their prior price objective of $89.00.

SCHW has been the topic of a number of other reports. Raymond James cut their price target on Charles Schwab from $76.00 to $73.00 in a research note on Tuesday, October 15th. Keefe, Bruyette & Woods raised their price target on Charles Schwab from $81.00 to $93.00 and gave the company an “outperform” rating in a research note on Friday, December 20th. JMP Securities reaffirmed a “market outperform” rating and set a $94.00 price objective (up previously from $84.00) on shares of Charles Schwab in a report on Monday, December 9th. Cowen raised their price objective on Charles Schwab from $69.00 to $75.00 and gave the stock a “hold” rating in a report on Tuesday, October 15th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on Charles Schwab from $98.00 to $105.00 and gave the stock a “buy” rating in a report on Wednesday. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $83.83.

Charles Schwab Stock Down 0.5 %

Shares of NYSE SCHW opened at $81.67 on Wednesday. The stock has a market cap of $145.34 billion, a P/E ratio of 27.31, a PEG ratio of 1.46 and a beta of 0.99. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 0.59. Charles Schwab has a 12-month low of $61.01 and a 12-month high of $83.35. The business’s fifty day simple moving average is $77.78 and its 200-day simple moving average is $70.82.

Charles Schwab (NYSE:SCHW) last posted its quarterly earnings results on Tuesday, January 21st. The financial services provider reported $1.01 earnings per share for the quarter, beating analysts’ consensus estimates of $0.90 by $0.11. Charles Schwab had a return on equity of 18.20% and a net margin of 30.31%. The company had revenue of $5.33 billion for the quarter, compared to analysts’ expectations of $5,190,822.51 billion. During the same period last year, the firm earned $0.68 earnings per share. Charles Schwab’s quarterly revenue was up 19.5% on a year-over-year basis. As a group, equities analysts predict that Charles Schwab will post 4.09 EPS for the current fiscal year.

Insider Activity

In related news, General Counsel Peter J. Morgan III sold 14,643 shares of Charles Schwab stock in a transaction that occurred on Wednesday, January 22nd. The stock was sold at an average price of $80.70, for a total transaction of $1,181,690.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Nigel J. Murtagh sold 12,739 shares of Charles Schwab stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $81.17, for a total value of $1,034,024.63. Following the transaction, the insider now owns 59,092 shares of the company’s stock, valued at $4,796,497.64. This represents a 17.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 41,466 shares of company stock worth $3,352,884. Company insiders own 6.60% of the company’s stock.

Institutional Trading of Charles Schwab

Hedge funds and other institutional investors have recently bought and sold shares of the company. Capital Performance Advisors LLP purchased a new stake in Charles Schwab in the 3rd quarter worth approximately $25,000. Washington Trust Advisors Inc. grew its stake in Charles Schwab by 62.6% in the 3rd quarter. Washington Trust Advisors Inc. now owns 387 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 149 shares during the period. Prospera Private Wealth LLC purchased a new stake in shares of Charles Schwab during the 3rd quarter valued at $31,000. Future Financial Wealth Managment LLC purchased a new stake in shares of Charles Schwab during the 3rd quarter valued at $32,000. Finally, Planning Capital Management Corp purchased a new stake in shares of Charles Schwab during the 3rd quarter valued at $33,000. 84.38% of the stock is owned by hedge funds and other institutional investors.

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.