Charles Schwab (NYSE:SCHW) Price Target Cut to $89.00 by Analysts at Wells Fargo & Company

Charles Schwab (NYSE:SCHW) had its price objective decreased by Wells Fargo & Company from $90.00 to $89.00 in a research report released on Tuesday morning,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the financial services provider’s stock.

SCHW has been the subject of a number of other research reports. Citigroup decreased their price objective on shares of Charles Schwab from $85.00 to $80.00 and set a “neutral” rating for the company in a research note on Friday, January 10th. Deutsche Bank Aktiengesellschaft raised their target price on Charles Schwab from $77.00 to $80.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. Cowen upped their price target on Charles Schwab from $69.00 to $75.00 and gave the company a “hold” rating in a research report on Tuesday, October 15th. StockNews.com upgraded Charles Schwab from a “sell” rating to a “hold” rating in a research report on Wednesday, October 16th. Finally, Piper Sandler upped their target price on Charles Schwab from $65.00 to $70.00 and gave the company a “neutral” rating in a report on Tuesday, January 7th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Charles Schwab currently has a consensus rating of “Moderate Buy” and a consensus price target of $81.63.

Charles Schwab Trading Down 0.5 %

Shares of NYSE SCHW opened at $72.30 on Tuesday. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 0.59. Charles Schwab has a 12 month low of $59.67 and a 12 month high of $83.35. The company has a market cap of $128.67 billion, a price-to-earnings ratio of 28.24, a P/E/G ratio of 1.76 and a beta of 0.99. The business has a fifty day simple moving average of $77.62 and a 200-day simple moving average of $70.58.

Charles Schwab (NYSE:SCHW) last posted its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $0.77 EPS for the quarter, beating analysts’ consensus estimates of $0.75 by $0.02. The company had revenue of $4.85 billion during the quarter, compared to analyst estimates of $4.78 billion. Charles Schwab had a net margin of 27.47% and a return on equity of 16.92%. The business’s quarterly revenue was up 5.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.77 earnings per share. Sell-side analysts predict that Charles Schwab will post 3.12 EPS for the current year.

Charles Schwab Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Friday, November 8th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.38%. The ex-dividend date of this dividend was Friday, November 8th. Charles Schwab’s dividend payout ratio is 39.06%.

Insider Activity at Charles Schwab

In related news, insider Nigel J. Murtagh sold 12,739 shares of the business’s stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $81.17, for a total transaction of $1,034,024.63. Following the completion of the transaction, the insider now owns 59,092 shares of the company’s stock, valued at approximately $4,796,497.64. The trade was a 17.73 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Carolyn Schwab-Pomerantz sold 29,800 shares of the firm’s stock in a transaction that occurred on Thursday, October 17th. The shares were sold at an average price of $72.16, for a total value of $2,150,368.00. Following the completion of the sale, the director now directly owns 551,329 shares in the company, valued at $39,783,900.64. This trade represents a 5.13 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 56,623 shares of company stock valued at $4,321,562. Corporate insiders own 6.60% of the company’s stock.

Institutional Investors Weigh In On Charles Schwab

Several hedge funds have recently modified their holdings of SCHW. Capital Performance Advisors LLP acquired a new position in Charles Schwab during the 3rd quarter valued at $25,000. Washington Trust Advisors Inc. raised its position in shares of Charles Schwab by 62.6% during the third quarter. Washington Trust Advisors Inc. now owns 387 shares of the financial services provider’s stock valued at $25,000 after buying an additional 149 shares during the last quarter. Prospera Private Wealth LLC acquired a new position in shares of Charles Schwab during the third quarter valued at about $31,000. Future Financial Wealth Managment LLC acquired a new stake in Charles Schwab during the third quarter worth about $32,000. Finally, Planning Capital Management Corp bought a new position in Charles Schwab during the third quarter valued at about $33,000. 84.38% of the stock is owned by 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.