Charles Schwab (NYSE:SCHW) Given New $91.00 Price Target at Morgan Stanley

Charles Schwab (NYSE:SCHW) had its price objective hoisted by investment analysts at Morgan Stanley from $84.00 to $91.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage presently has an “equal weight” rating on the financial services provider’s stock. Morgan Stanley’s target price points to a potential upside of 9.40% from the company’s previous close.

A number of other brokerages also recently commented on SCHW. UBS Group lifted their price objective on Charles Schwab from $90.00 to $95.00 and gave the company a “buy” rating in a research report on Monday, January 27th. Raymond James dropped their price objective on shares of Charles Schwab from $76.00 to $73.00 in a research note on Tuesday, October 15th. Deutsche Bank Aktiengesellschaft raised their target price on shares of Charles Schwab from $98.00 to $105.00 and gave the stock a “buy” rating in a research report on Wednesday, January 22nd. Wells Fargo & Company raised shares of Charles Schwab from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $89.00 to $93.00 in a research report on Wednesday, January 22nd. Finally, Keefe, Bruyette & Woods lifted their price target on shares of Charles Schwab from $81.00 to $93.00 and gave the company an “outperform” rating in a report on Friday, December 20th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, Charles Schwab currently has an average rating of “Hold” and an average target price of $84.50.

Charles Schwab Trading Down 0.5 %

Shares of SCHW stock opened at $83.18 on Thursday. Charles Schwab has a twelve month low of $61.01 and a twelve month high of $84.04. The company has a market capitalization of $148.04 billion, a price-to-earnings ratio of 27.82, a PEG ratio of 1.01 and a beta of 0.99. The firm has a 50-day moving average price of $77.99 and a 200 day moving average price of $71.66. 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 (NYSE:SCHW) last announced its quarterly earnings data on Tuesday, January 21st. The financial services provider reported $1.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.90 by $0.11. The business had revenue of $5.33 billion for the quarter, compared to the consensus estimate of $5.19 billion. Charles Schwab had a net margin of 30.31% and a return on equity of 18.20%. The company’s quarterly revenue was up 19.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.68 earnings per share. Research analysts forecast that Charles Schwab will post 4.18 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Arun Sarin sold 8,548 shares of Charles Schwab stock in a transaction on Thursday, January 23rd. The shares were sold at an average price of $81.82, for a total transaction of $699,397.36. Following the sale, the director now owns 18,617 shares of the company’s stock, valued at $1,523,242.94. The trade was a 31.47 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Jonathan S. Beatty sold 2,500 shares of the company’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $77.02, for a total transaction of $192,550.00. Following the completion of the transaction, the insider now directly owns 18,069 shares of the company’s stock, valued at approximately $1,391,674.38. The trade was a 12.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 50,014 shares of company stock valued at $4,052,281. Corporate insiders own 6.60% of the company’s stock.

Hedge Funds Weigh In On Charles Schwab

A number of institutional investors have recently made changes to their positions in SCHW. State Street Corp increased its stake in shares of Charles Schwab by 0.7% in the third quarter. State Street Corp now owns 62,076,447 shares of the financial services provider’s stock worth $4,023,175,000 after buying an additional 414,949 shares during the last quarter. Geode Capital Management LLC boosted its stake in Charles Schwab by 1.5% during the 3rd quarter. Geode Capital Management LLC now owns 30,141,441 shares of the financial services provider’s stock valued at $1,945,614,000 after acquiring an additional 445,304 shares during the last quarter. Massachusetts Financial Services Co. MA grew its holdings in Charles Schwab by 6.3% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 28,679,305 shares of the financial services provider’s stock worth $1,858,706,000 after acquiring an additional 1,711,312 shares in the last quarter. Franklin Resources Inc. raised its stake in shares of Charles Schwab by 15.0% in the 3rd quarter. Franklin Resources Inc. now owns 24,261,234 shares of the financial services provider’s stock valued at $1,644,674,000 after purchasing an additional 3,157,923 shares in the last quarter. Finally, Fisher Asset Management LLC lifted its position in shares of Charles Schwab by 1.3% during the fourth quarter. Fisher Asset Management LLC now owns 20,455,266 shares of the financial services provider’s stock worth $1,513,894,000 after purchasing an additional 265,708 shares during the last quarter. 84.38% of the stock is owned by institutional investors and hedge funds.

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.