Deutsche Bank Cuts Charles Schwab (NYSE:SCHW) Price Target to $37.00

Charles Schwab (NYSE:SCHW) had its target price decreased by equities researchers at Deutsche Bank from $43.00 to $37.00 in a research note issued to investors on Thursday, BenzingaRatingsTable reports. The brokerage presently has a “hold” rating on the financial services provider’s stock. Deutsche Bank’s price target would indicate a potential upside of 9.34% from the company’s previous close.

SCHW has been the topic of a number of other reports. Wells Fargo & Co lowered their price target on shares of Charles Schwab from $38.00 to $33.00 and set an “equal weight” rating on the stock in a research report on Monday, April 6th. Citigroup lowered shares of Charles Schwab from a “buy” rating to a “neutral” rating and set a $37.50 price target on the stock. in a research report on Wednesday, April 15th. TheStreet upgraded shares of Charles Schwab from a “c” rating to a “b-” rating in a research report on Monday, June 22nd. Compass Point lowered shares of Charles Schwab from a “buy” rating to a “neutral” rating and set a $35.00 price target on the stock. in a research report on Wednesday, May 20th. Finally, Bank of America lowered shares of Charles Schwab from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $40.00 to $35.00 in a research report on Thursday, May 21st. Twelve equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $42.44.

Shares of SCHW stock traded down $0.59 on Thursday, reaching $33.84. 1,290,456 shares of the company were exchanged, compared to its average volume of 12,635,842. The company has a market cap of $43.63 billion, a price-to-earnings ratio of 13.23 and a beta of 1.25. The business has a 50-day moving average price of $35.77 and a 200 day moving average price of $39.45. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.42 and a current ratio of 0.42. Charles Schwab has a 1 year low of $28.00 and a 1 year high of $51.65.

Charles Schwab (NYSE:SCHW) last released its earnings results on Wednesday, April 15th. The financial services provider reported $0.58 EPS for the quarter, missing analysts’ consensus estimates of $0.63 by ($0.05). The company had revenue of $2.62 billion for the quarter, compared to analysts’ expectations of $2.61 billion. Charles Schwab had a return on equity of 18.25% and a net margin of 33.30%. The firm’s revenue for the quarter was down 3.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.69 EPS. As a group, equities analysts anticipate that Charles Schwab will post 2.1 earnings per share for the current year.

In related news, Director Charles A. Ruffel purchased 2,460 shares of the company’s stock in a transaction that occurred on Monday, April 27th. The stock was acquired at an average price of $37.08 per share, for a total transaction of $91,216.80. Following the completion of the purchase, the director now owns 4,355 shares in the company, valued at $161,483.40. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Jonathan M. Craig sold 10,935 shares of the business’s stock in a transaction on Thursday, June 4th. The shares were sold at an average price of $40.02, for a total transaction of $437,618.70. The disclosure for this sale can be found here. 10.80% of the stock is currently owned by company insiders.

Several institutional investors and hedge funds have recently made changes to their positions in SCHW. Penserra Capital Management LLC lifted its holdings in Charles Schwab by 7.0% in the 4th quarter. Penserra Capital Management LLC now owns 4,274 shares of the financial services provider’s stock valued at $194,000 after acquiring an additional 281 shares during the last quarter. Integrated Advisors Network LLC increased its holdings in shares of Charles Schwab by 4.9% in the 1st quarter. Integrated Advisors Network LLC now owns 6,354 shares of the financial services provider’s stock valued at $214,000 after purchasing an additional 298 shares during the period. Flagship Harbor Advisors LLC grew its stake in shares of Charles Schwab by 37.4% in the 1st quarter. Flagship Harbor Advisors LLC now owns 1,105 shares of the financial services provider’s stock valued at $37,000 after buying an additional 301 shares in the last quarter. Summit Asset Management LLC grew its stake in shares of Charles Schwab by 2.3% in the 1st quarter. Summit Asset Management LLC now owns 14,173 shares of the financial services provider’s stock valued at $476,000 after buying an additional 323 shares in the last quarter. Finally, Hall Kathryn A. grew its stake in shares of Charles Schwab by 0.4% in the 1st quarter. Hall Kathryn A. now owns 82,393 shares of the financial services provider’s stock valued at $2,770,000 after buying an additional 333 shares in the last quarter. 85.15% of the stock is owned by institutional investors.

Charles Schwab Company Profile

The Charles Schwab Corporation, through its subsidiaries, provides wealth management, securities brokerage, banking, asset management, custody, and financial advisory services. The company operates through two segments, Investor Services and Advisor Services. The Investor Services segment provides retail brokerage and banking services, retirement plan services, and other corporate brokerage services; equity compensation plan sponsors full-service recordkeeping for stock plans, stock options, restricted stock, performance shares, and stock appreciation rights; and retail investor, retirement plan, and mutual fund clearing services.

Read More: Growth and Income Funds

Analyst Recommendations for Charles Schwab (NYSE:SCHW)

Receive News & Ratings for Charles Schwab Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Charles Schwab and related companies with MarketBeat.com's FREE daily email newsletter.