Truist Financial Reiterates “Buy” Rating for Charles Schwab (NYSE:SCHW)

Truist Financial reissued their buy rating on shares of Charles Schwab (NYSE:SCHW) in a research report released on Wednesday morning,Benzinga reports. The brokerage currently has a $90.00 price objective on the financial services provider’s stock, up from their previous price objective of $86.00.

SCHW has been the subject of a number of other reports. Barclays boosted their target price on shares of Charles Schwab from $95.00 to $96.00 and gave the company an “overweight” rating in a research note on Wednesday. Morgan Stanley increased their price objective on Charles Schwab from $74.00 to $84.00 and gave the stock an “equal weight” rating in a report on Friday, January 17th. Redburn Partners cut their target price on Charles Schwab from $70.00 to $68.00 and set a “sell” rating on the stock in a research note on Friday, January 17th. Deutsche Bank Aktiengesellschaft increased their price target on Charles Schwab from $98.00 to $105.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, Raymond James cut their price objective on shares of Charles Schwab from $76.00 to $73.00 in a research note on Tuesday, October 15th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $83.83.

Charles Schwab Stock Down 0.6 %

NYSE:SCHW opened at $80.44 on Wednesday. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 0.59. The stock has a 50 day moving average of $77.71 and a 200-day moving average of $70.68. The firm has a market capitalization of $143.15 billion, a PE ratio of 31.42, a price-to-earnings-growth ratio of 1.40 and a beta of 0.99. Charles Schwab has a 52 week low of $61.01 and a 52 week high of $83.35.

Charles Schwab (NYSE:SCHW) last issued its quarterly earnings data on Tuesday, January 21st. The financial services provider reported $1.01 EPS for the quarter, topping analysts’ consensus estimates of $0.90 by $0.11. Charles Schwab had a return on equity of 16.92% and a net margin of 27.47%. The firm had revenue of $5.33 billion during the quarter, compared to the consensus estimate of $5,190,822.51 billion. During the same period in the prior year, the business earned $0.68 EPS. The firm’s revenue was up 19.5% on a year-over-year basis. Analysts predict that Charles Schwab will post 3.16 EPS for the current year.

Insider Transactions at Charles Schwab

In related news, insider Nigel J. Murtagh sold 12,739 shares of Charles Schwab stock in a transaction dated 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 transaction, the insider now owns 59,092 shares of the company’s stock, valued at approximately $4,796,497.64. This trade represents a 17.73 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Jonathan S. Beatty sold 2,300 shares of the firm’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $82.01, for a total transaction of $188,623.00. Following the completion of the transaction, the insider now owns 18,069 shares of the company’s stock, valued at approximately $1,481,838.69. The trade was a 11.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 26,823 shares of company stock valued at $2,171,194 in the last three months. 6.60% of the stock is currently owned by corporate insiders.

Institutional Trading of Charles Schwab

A number of hedge funds have recently modified their holdings of the business. Washington Trust Advisors Inc. raised its position in 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 period. Capital Performance Advisors LLP acquired a new position in shares of Charles Schwab in the 3rd quarter valued at about $25,000. Prospera Private Wealth LLC purchased a new stake in shares of Charles Schwab in the third quarter worth approximately $31,000. Future Financial Wealth Managment LLC acquired a new stake in shares of Charles Schwab during the third quarter worth approximately $32,000. Finally, Hazlett Burt & Watson Inc. purchased a new position in Charles Schwab during the third quarter valued at approximately $33,000. Hedge funds and other institutional investors own 84.38% of the company’s stock.

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.