Charles Schwab (NYSE:SCHW) Given New $68.00 Price Target at Redburn Partners

Charles Schwab (NYSE:SCHW) had its price objective cut by Redburn Partners from $70.00 to $68.00 in a research note published on Friday morning. They currently have a sell rating on the financial services provider’s stock.

A number of other equities analysts have also issued reports on the company. Bank of America decreased their price objective on Charles Schwab from $63.00 to $61.00 and set an “underperform” rating for the company in a report on Wednesday, October 16th. Citigroup cut their price objective on shares of Charles Schwab from $85.00 to $80.00 and set a “neutral” rating on the stock in a research note on Friday, January 10th. Raymond James decreased their target price on shares of Charles Schwab from $76.00 to $73.00 in a research report on Tuesday, October 15th. JPMorgan Chase & Co. boosted their price target on shares of Charles Schwab from $87.00 to $93.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 7th. Finally, Cowen raised their price objective on shares of Charles Schwab from $69.00 to $75.00 and gave the company a “hold” rating in a research note on Tuesday, October 15th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $81.41.

Charles Schwab Stock Performance

SCHW stock opened at $76.53 on Friday. The stock’s fifty day moving average is $77.63 and its two-hundred day moving average is $70.63. The stock has a market capitalization of $136.20 billion, a price-to-earnings ratio of 29.90, a PEG ratio of 1.19 and a beta of 0.99. 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 has a 1 year low of $61.01 and a 1 year high of $83.35.

Charles Schwab (NYSE:SCHW) last posted its earnings results on Tuesday, October 15th. The financial services provider reported $0.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.75 by $0.02. Charles Schwab had a net margin of 27.47% and a return on equity of 16.92%. The firm had revenue of $4.85 billion during the quarter, compared to analyst estimates of $4.78 billion. During the same period in the previous year, the business posted $0.77 EPS. Charles Schwab’s revenue was up 5.2% on a year-over-year basis. On average, research analysts predict that Charles Schwab will post 3.13 EPS for the current year.

Charles Schwab Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Friday, November 8th were paid 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 1.31%. Charles Schwab’s dividend payout ratio is currently 39.06%.

Insider Buying and Selling at Charles Schwab

In other news, insider Nigel J. Murtagh sold 12,739 shares of the stock in a transaction 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 completion of the sale, the insider now owns 59,092 shares in the company, valued at $4,796,497.64. This represents a 17.73 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Jonathan S. Beatty sold 2,300 shares of the firm’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $82.01, for a total value of $188,623.00. Following the completion of the sale, the insider now directly owns 18,069 shares of the company’s stock, valued at approximately $1,481,838.69. This trade represents a 11.29 % decrease in their position. 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. 6.60% of the stock is currently owned by corporate insiders.

Institutional Trading of Charles Schwab

A number of hedge funds have recently made changes to their positions in SCHW. Benjamin Edwards Inc. increased its stake in Charles Schwab by 2,840.7% in the 3rd quarter. Benjamin Edwards Inc. now owns 6,146 shares of the financial services provider’s stock valued at $398,000 after buying an additional 5,937 shares during the period. Synovus Financial Corp increased its stake in shares of Charles Schwab by 46.0% in the third quarter. Synovus Financial Corp now owns 67,889 shares of the financial services provider’s stock worth $4,400,000 after acquiring an additional 21,377 shares during the last quarter. Patten & Patten Inc. TN raised its holdings in shares of Charles Schwab by 155.9% during the third quarter. Patten & Patten Inc. TN now owns 104,168 shares of the financial services provider’s stock worth $6,751,000 after acquiring an additional 63,463 shares in the last quarter. Equity Investment Corp raised its holdings in shares of Charles Schwab by 9.4% during the third quarter. Equity Investment Corp now owns 1,640,157 shares of the financial services provider’s stock worth $106,299,000 after acquiring an additional 140,643 shares in the last quarter. Finally, Teewinot Capital Advisers L.L.C. grew its stake in Charles Schwab by 9.0% in the second quarter. Teewinot Capital Advisers L.L.C. now owns 775,161 shares of the financial services provider’s stock valued at $57,122,000 after purchasing an additional 64,041 shares in the last quarter. 84.38% of the stock is owned by hedge funds and other 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.