Wells Fargo & Company Raises Charles Schwab (NYSE:SCHW) Price Target to $75.00

Charles Schwab (NYSE:SCHW) had its price objective boosted by investment analysts at Wells Fargo & Company from $70.00 to $75.00 in a report issued on Wednesday, Benzinga reports. The brokerage currently has an “equal weight” rating on the financial services provider’s stock. Wells Fargo & Company‘s price target suggests a potential upside of 3.25% from the company’s current price.

A number of other equities analysts also recently weighed in on SCHW. JPMorgan Chase & Co. cut their price target on shares of Charles Schwab from $82.00 to $78.00 and set an “overweight” rating on the stock in a report on Wednesday, July 17th. Jefferies Financial Group decreased their price target on shares of Charles Schwab from $79.00 to $73.00 and set a “buy” rating on the stock in a report on Friday, October 4th. Morgan Stanley decreased their price target on shares of Charles Schwab from $70.00 to $68.00 and set an “equal weight” rating on the stock in a report on Monday, October 7th. UBS Group cut their target price on Charles Schwab from $91.00 to $90.00 and set a “buy” rating for the company in a research note on Tuesday, July 9th. Finally, JMP Securities boosted their price target on shares of Charles Schwab from $82.00 to $84.00 and gave the stock a “market outperform” rating in a research note on Wednesday. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $73.00.

Charles Schwab Trading Up 0.9 %

Charles Schwab stock traded up $0.68 during mid-day trading on Wednesday, hitting $72.64. 4,251,974 shares of the stock were exchanged, compared to its average volume of 8,063,795. Charles Schwab has a 12 month low of $48.66 and a 12 month high of $79.49. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 0.65. The firm’s fifty day simple moving average is $64.42 and its two-hundred day simple moving average is $69.49. The stock has a market capitalization of $129.19 billion, a price-to-earnings ratio of 30.12, a PEG ratio of 1.43 and a beta of 0.97.

Charles Schwab (NYSE:SCHW) last announced its quarterly earnings data 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. The company had revenue of $4.85 billion for the quarter, compared to the consensus estimate of $4.78 billion. Charles Schwab had a return on equity of 18.14% and a net margin of 26.30%. The firm’s revenue was up 5.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.77 EPS. Analysts forecast that Charles Schwab will post 3.06 EPS for the current year.

Insider Transactions at Charles Schwab

In related news, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the firm’s stock in a transaction that occurred on Friday, July 19th. The shares were sold at an average price of $61.96, for a total transaction of $557,640.00. Following the completion of the sale, the director now owns 567,057 shares of the company’s stock, valued at $35,134,851.72. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Chairman Charles R. Schwab sold 67,386 shares of the firm’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $65.11, for a total value of $4,387,502.46. Following the transaction, the chairman now owns 60,619,371 shares of the company’s stock, valued at approximately $3,946,927,245.81. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the company’s stock in a transaction that occurred on Friday, July 19th. The shares were sold at an average price of $61.96, for a total transaction of $557,640.00. Following the sale, the director now directly owns 567,057 shares of the company’s stock, valued at approximately $35,134,851.72. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 98,856 shares of company stock worth $6,398,604. Corporate insiders own 6.60% of the company’s stock.

Institutional Investors Weigh In On Charles Schwab

Several hedge funds and other institutional investors have recently modified their holdings of SCHW. Nelson Capital Management LLC raised its stake in Charles Schwab by 0.4% during the 1st quarter. Nelson Capital Management LLC now owns 37,726 shares of the financial services provider’s stock worth $2,729,000 after acquiring an additional 141 shares during the period. Abbrea Capital LLC lifted its stake in shares of Charles Schwab by 2.5% during the 1st quarter. Abbrea Capital LLC now owns 5,777 shares of the financial services provider’s stock valued at $418,000 after buying an additional 142 shares in the last quarter. Ironwood Financial llc boosted its holdings in Charles Schwab by 1.6% in the 1st quarter. Ironwood Financial llc now owns 10,186 shares of the financial services provider’s stock worth $737,000 after buying an additional 160 shares during the period. Ascent Wealth Partners LLC increased its stake in Charles Schwab by 0.7% in the 2nd quarter. Ascent Wealth Partners LLC now owns 23,361 shares of the financial services provider’s stock worth $1,721,000 after buying an additional 164 shares in the last quarter. Finally, Sutton Place Investors LLC raised its holdings in Charles Schwab by 2.1% during the second quarter. Sutton Place Investors LLC now owns 8,086 shares of the financial services provider’s stock valued at $596,000 after acquiring an additional 167 shares during the period. 84.38% of the stock is currently 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.