TD Securities Increases Charles Schwab (NYSE:SCHW) Price Target to $113.00

Charles Schwab (NYSE:SCHW) had its target price upped by equities researchers at TD Securities from $95.00 to $113.00 in a research note issued on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the financial services provider’s stock. TD Securities’ target price would indicate a potential upside of 26.51% from the stock’s previous close.

Several other research analysts have also issued reports on SCHW. Barclays dropped their target price on Charles Schwab from $96.00 to $84.00 and set an “overweight” rating for the company in a research report on Monday, April 7th. The Goldman Sachs Group raised shares of Charles Schwab from a “neutral” rating to a “buy” rating and set a $100.00 target price for the company in a research report on Friday, April 25th. TD Cowen raised Charles Schwab from a “hold” rating to a “buy” rating and upped their target price for the company from $88.00 to $103.00 in a research report on Tuesday, February 18th. UBS Group lifted their price objective on shares of Charles Schwab from $95.00 to $96.00 and gave the company a “buy” rating in a research note on Tuesday, April 22nd. Finally, Citigroup raised shares of Charles Schwab from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $85.00 to $102.00 in a research note on Wednesday, April 2nd. Two research analysts have rated the stock with a sell rating, three have given a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, Charles Schwab currently has an average rating of “Moderate Buy” and a consensus target price of $89.63.

Charles Schwab Price Performance

Shares of Charles Schwab stock traded up $0.09 during trading on Tuesday, reaching $89.32. 1,176,715 shares of the stock traded hands, compared to its average volume of 9,399,518. Charles Schwab has a 52-week low of $61.01 and a 52-week high of $89.80. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.47 and a quick ratio of 0.47. The business has a fifty day simple moving average of $79.06 and a two-hundred day simple moving average of $78.59. The company has a market capitalization of $162.30 billion, a price-to-earnings ratio of 29.85, a P/E/G ratio of 0.99 and a beta of 0.90.

Charles Schwab (NYSE:SCHW) last released its quarterly earnings data on Thursday, April 17th. The financial services provider reported $1.04 EPS for the quarter, beating the consensus estimate of $1.01 by $0.03. The business had revenue of $5.60 billion during the quarter, compared to analyst estimates of $5.46 billion. Charles Schwab had a net margin of 30.31% and a return on equity of 18.20%. During the same quarter last year, the business earned $0.74 earnings per share. Sell-side analysts expect that Charles Schwab will post 4.22 EPS for the current year.

Insider Activity

In other news, insider Paul V. Woolway sold 3,380 shares of Charles Schwab stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $79.32, for a total transaction of $268,101.60. Following the transaction, the insider now owns 57,818 shares in the company, valued at $4,586,123.76. The trade was a 5.52% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jonathan M. Craig sold 9,559 shares of the company’s stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $82.00, for a total transaction of $783,838.00. The disclosure for this sale can be found here. Insiders sold 38,412 shares of company stock worth $3,014,797 over the last three months. Insiders own 6.30% of the company’s stock.

Institutional Investors Weigh In On Charles Schwab

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its position in shares of Charles Schwab by 15.4% during the first quarter. Vanguard Group Inc. now owns 148,395,252 shares of the financial services provider’s stock valued at $11,616,380,000 after acquiring an additional 19,817,022 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in Charles Schwab by 12.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 82,048,984 shares of the financial services provider’s stock valued at $6,422,795,000 after purchasing an additional 8,954,248 shares during the period. Geode Capital Management LLC boosted its position in shares of Charles Schwab by 2.5% during the fourth quarter. Geode Capital Management LLC now owns 30,901,484 shares of the financial services provider’s stock worth $2,279,742,000 after buying an additional 760,043 shares during the period. Fisher Asset Management LLC raised its holdings in shares of Charles Schwab by 1.3% in the 4th quarter. Fisher Asset Management LLC now owns 20,455,266 shares of the financial services provider’s stock valued at $1,513,894,000 after buying an additional 265,708 shares during the period. Finally, Northern Trust Corp lifted its stake in Charles Schwab by 10.8% during the 1st quarter. Northern Trust Corp now owns 17,440,301 shares of the financial services provider’s stock worth $1,365,227,000 after acquiring an additional 1,700,384 shares in the last quarter. Institutional investors and hedge funds own 84.38% of the company’s stock.

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.