Charles Schwab (NYSE:SCHW) Given New $134.00 Price Target at TD Cowen

Charles Schwab (NYSE:SCHW) had its price target increased by TD Cowen from $129.00 to $134.00 in a report issued on Friday,Benzinga reports. The firm currently has a buy rating on the financial services provider’s stock.

SCHW has been the topic of a number of other research reports. Truist Financial upped their target price on shares of Charles Schwab from $112.00 to $113.00 and gave the stock a “buy” rating in a report on Friday. BMO Capital Markets initiated coverage on shares of Charles Schwab in a report on Friday, October 3rd. They set an “outperform” rating and a $110.00 target price on the stock. Citigroup upped their target price on shares of Charles Schwab from $105.00 to $110.00 and gave the stock a “buy” rating in a report on Monday, July 21st. Keefe, Bruyette & Woods upped their target price on shares of Charles Schwab from $109.00 to $111.00 and gave the stock an “outperform” rating in a report on Friday. Finally, Wells Fargo & Company set a $102.00 target price on shares of Charles Schwab and gave the stock an “overweight” rating in a report on Friday, July 18th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, Charles Schwab has an average rating of “Moderate Buy” and an average target price of $104.70.

Charles Schwab Stock Performance

Shares of SCHW stock opened at $94.17 on Friday. The stock has a market capitalization of $170.93 billion, a P/E ratio of 22.05, a PEG ratio of 0.89 and a beta of 0.97. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 0.47. The firm’s 50 day moving average is $94.68 and its 200 day moving average is $89.58. Charles Schwab has a 12 month low of $65.88 and a 12 month high of $99.59.

Charles Schwab (NYSE:SCHW) last announced its quarterly earnings results on Thursday, October 16th. The financial services provider reported $1.31 EPS for the quarter, beating analysts’ consensus estimates of $1.25 by $0.06. The company had revenue of $6.14 billion for the quarter, compared to analysts’ expectations of $5.93 billion. Charles Schwab had a net margin of 35.93% and a return on equity of 21.26%. Charles Schwab’s revenue was up 26.6% compared to the same quarter last year. During the same period in the prior year, the company posted $0.71 EPS. On average, sell-side analysts anticipate that Charles Schwab will post 4.22 earnings per share for the current year.

Charles Schwab Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 22nd. Stockholders of record on Friday, August 8th were issued a $0.27 dividend. The ex-dividend date of this dividend was Friday, August 8th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.1%. Charles Schwab’s dividend payout ratio is presently 29.03%.

Charles Schwab declared that its Board of Directors has approved a share buyback program on Thursday, July 24th that authorizes the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization authorizes the financial services provider to buy up to 11.6% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its shares are undervalued.

Insider Transactions at Charles Schwab

In related news, insider Jonathan S. Beatty sold 6,144 shares of the stock in a transaction on Thursday, August 28th. The shares were sold at an average price of $96.81, for a total transaction of $594,800.64. Following the transaction, the insider owned 11,923 shares of the company’s stock, valued at approximately $1,154,265.63. This trade represents a 34.01% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Nigel J. Murtagh sold 24,096 shares of the stock in a transaction on Tuesday, July 29th. The shares were sold at an average price of $97.91, for a total transaction of $2,359,239.36. Following the transaction, the insider directly owned 58,999 shares in the company, valued at approximately $5,776,592.09. This represents a 29.00% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 267,128 shares of company stock worth $26,232,077. Company insiders own 6.30% of the company’s stock.

Hedge Funds Weigh In On Charles Schwab

Institutional investors and hedge funds have recently made changes to their positions in the business. Princeton Global Asset Management LLC bought a new position in shares of Charles Schwab during the 2nd quarter valued at $25,000. RMG Wealth Management LLC bought a new position in shares of Charles Schwab during the 2nd quarter valued at $27,000. Mid American Wealth Advisory Group Inc. bought a new position in shares of Charles Schwab during the 2nd quarter valued at $32,000. Westside Investment Management Inc. grew its holdings in shares of Charles Schwab by 75.0% during the 1st quarter. Westside Investment Management Inc. now owns 350 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 150 shares during the last quarter. Finally, Hoese & Co LLP grew its holdings in shares of Charles Schwab by 131.6% during the 2nd quarter. Hoese & Co LLP now owns 352 shares of the financial services provider’s stock valued at $32,000 after purchasing an additional 200 shares during the last quarter. 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.