Brokerages Set The Charles Schwab Co. (NYSE:SCHW) PT at $74.27

Shares of The Charles Schwab Co. (NYSE:SCHW) have earned an average rating of “Hold” from the fifteen research firms that are currently covering the firm, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, six have assigned a hold recommendation and seven have given a buy recommendation to the company. The average 1-year price target among brokers that have covered the stock in the last year is $74.27.

Several analysts have issued reports on the stock. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Charles Schwab from $84.00 to $79.00 and set a “buy” rating for the company in a research note on Wednesday, July 17th. Barclays lowered their target price on shares of Charles Schwab from $77.00 to $68.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 17th. TD Cowen reaffirmed a “hold” rating and issued a $71.00 price target (down previously from $88.00) on shares of Charles Schwab in a research note on Wednesday, July 17th. Piper Sandler downgraded shares of Charles Schwab from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $80.00 to $64.00 in a research note on Monday, July 29th. Finally, Keefe, Bruyette & Woods raised shares of Charles Schwab from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $76.00 to $84.00 in a research note on Monday, July 8th.

Charles Schwab Trading Up 4.6 %

SCHW opened at $65.35 on Thursday. The stock has a 50-day moving average of $69.49 and a 200 day moving average of $69.96. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 0.65. Charles Schwab has a 12 month low of $48.66 and a 12 month high of $79.49. The firm has a market cap of $116.22 billion, a P/E ratio of 27.34, a P/E/G ratio of 1.18 and a beta of 0.99.

Charles Schwab (NYSE:SCHW) last released its quarterly earnings results on Tuesday, July 16th. The financial services provider reported $0.73 earnings per share for the quarter, beating the consensus estimate of $0.72 by $0.01. Charles Schwab had a return on equity of 18.14% and a net margin of 26.30%. The company had revenue of $4.69 billion for the quarter, compared to analyst estimates of $4.68 billion. During the same quarter in the prior year, the firm posted $0.75 EPS. Charles Schwab’s quarterly revenue was up .7% compared to the same quarter last year. As a group, research analysts forecast that Charles Schwab will post 3.06 EPS for the current year.

Charles Schwab Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 23rd. Stockholders of record on Friday, August 9th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, August 9th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.53%. Charles Schwab’s payout ratio is 41.84%.

Insider Activity at Charles Schwab

In related news, CEO Walter W. Bettinger purchased 25,000 shares of the firm’s stock in a transaction on Wednesday, July 17th. The stock was acquired at an average price of $66.26 per share, with a total value of $1,656,500.00. Following the completion of the acquisition, the chief executive officer now owns 827,377 shares in the company, valued at approximately $54,822,000.02. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, CEO Walter W. Bettinger acquired 25,000 shares of the business’s stock in a transaction dated Wednesday, July 17th. The shares were acquired at an average cost of $66.26 per share, with a total value of $1,656,500.00. Following the completion of the acquisition, the chief executive officer now owns 827,377 shares of the company’s stock, valued at $54,822,000.02. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Carolyn Schwab-Pomerantz sold 9,000 shares of Charles Schwab stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $78.41, for a total value of $705,690.00. Following the sale, the director now directly owns 574,257 shares of the company’s stock, valued at approximately $45,027,491.37. The disclosure for this sale can be found here. Insiders sold 181,911 shares of company stock valued at $12,541,978 in the last three months. 6.60% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its stake in shares of Charles Schwab by 0.9% in the first quarter. Vanguard Group Inc. now owns 120,963,133 shares of the financial services provider’s stock worth $8,750,473,000 after buying an additional 1,042,823 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of Charles Schwab by 4.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 72,306,560 shares of the financial services provider’s stock worth $5,230,657,000 after purchasing an additional 2,946,327 shares during the period. Massachusetts Financial Services Co. MA increased its holdings in shares of Charles Schwab by 4.1% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 30,994,967 shares of the financial services provider’s stock valued at $2,132,454,000 after purchasing an additional 1,219,015 shares in the last quarter. Fisher Asset Management LLC lifted its stake in shares of Charles Schwab by 1.6% in the 4th quarter. Fisher Asset Management LLC now owns 18,627,667 shares of the financial services provider’s stock valued at $1,281,584,000 after purchasing an additional 296,317 shares during the period. Finally, Norges Bank purchased a new stake in Charles Schwab during the fourth quarter worth $950,192,000. 84.38% of the stock is currently 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.