Brokerages Set The Charles Schwab Co. (NYSE:SCHW) Target Price at $80.50

Shares of The Charles Schwab Co. (NYSE:SCHW) have been assigned a consensus recommendation of “Moderate Buy” from the seventeen ratings firms that are covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, seven have given a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $81.19.

A number of equities analysts have recently commented on SCHW shares. Piper Sandler lifted their target price on shares of Charles Schwab from $65.00 to $70.00 and gave the company a “neutral” rating in a report on Tuesday. The Goldman Sachs Group upped their target price on shares of Charles Schwab from $67.00 to $74.00 and gave the company a “neutral” rating in a report on Wednesday, October 16th. Barclays raised Charles Schwab from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $74.00 to $95.00 in a report on Monday, December 9th. Truist Financial raised Charles Schwab to a “strong-buy” rating in a research note on Monday. Finally, Raymond James lowered their target price on Charles Schwab from $76.00 to $73.00 in a research note on Tuesday, October 15th.

Insider Buying and Selling

In related news, Chairman Charles R. Schwab sold 62,345 shares of the stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $72.52, for a total value of $4,521,259.40. Following the sale, the chairman now directly owns 60,619,371 shares of the company’s stock, valued at approximately $4,396,116,784.92. This represents a 0.10 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 transaction 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. The trade was a 17.73 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 118,968 shares of company stock worth $8,842,821 in the last quarter. Company insiders own 6.60% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Washington Trust Advisors Inc. grew its holdings in Charles Schwab by 62.6% during the 3rd 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. Capital Performance Advisors LLP acquired a new stake in shares of Charles Schwab during the third quarter valued at $25,000. Prospera Private Wealth LLC purchased a new stake in Charles Schwab during the 3rd quarter worth about $31,000. Future Financial Wealth Managment LLC acquired a new position in Charles Schwab in the 3rd quarter valued at about $32,000. Finally, Hazlett Burt & Watson Inc. purchased a new position in Charles Schwab in the 3rd quarter valued at about $33,000. 84.38% of the stock is owned by hedge funds and other institutional investors.

Charles Schwab Price Performance

Shares of NYSE:SCHW opened at $72.93 on Friday. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.47 and a quick ratio of 0.47. Charles Schwab has a 12 month low of $59.67 and a 12 month high of $83.35. The firm has a market capitalization of $129.79 billion, a P/E ratio of 28.49, a P/E/G ratio of 1.76 and a beta of 0.99. The company’s fifty day moving average price is $77.53 and its 200 day moving average price is $70.65.

Charles Schwab (NYSE:SCHW) last announced 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. The firm had revenue of $4.85 billion during the quarter, compared to analysts’ expectations of $4.78 billion. Charles Schwab had a return on equity of 16.92% and a net margin of 27.47%. The business’s revenue was up 5.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.77 EPS. As a group, sell-side analysts predict that Charles Schwab will post 3.12 earnings per share for the current fiscal year.

Charles Schwab Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Friday, November 8th were given a dividend of $0.25 per share. The ex-dividend date was Friday, November 8th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.37%. Charles Schwab’s payout ratio is 39.06%.

About Charles Schwab

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.