Cowen Boosts Charles Schwab (NYSE:SCHW) Price Target to $75.00

Charles Schwab (NYSE:SCHW) had its price target hoisted by Cowen from $69.00 to $75.00 in a research report sent to investors on Tuesday. The firm currently has a hold rating on the financial services provider’s stock.

A number of other brokerages also recently issued reports on SCHW. Wells Fargo & Company began coverage on Charles Schwab in a research report on Thursday, September 12th. They set an “equal weight” rating and a $70.00 price target on the stock. Bank of America decreased their price target on Charles Schwab from $72.00 to $66.00 and set an “underperform” rating for the company in a research note on Wednesday, July 17th. UBS Group dropped their price target on Charles Schwab from $91.00 to $90.00 and set a “buy” rating on the stock in a research note on Tuesday, July 9th. JPMorgan Chase & Co. decreased their price objective on shares of Charles Schwab from $82.00 to $78.00 and set an “overweight” rating for the company in a research report on Wednesday, July 17th. Finally, TD Cowen reissued a “hold” rating and set a $71.00 target price (down previously from $88.00) on shares of Charles Schwab in a research report on Wednesday, July 17th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $73.59.

Charles Schwab Trading Down 0.2 %

SCHW opened at $71.90 on Tuesday. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 0.65. The firm has a market cap of $127.87 billion, a price-to-earnings ratio of 29.83, a PEG ratio of 1.47 and a beta of 0.97. Charles Schwab has a 12 month low of $48.66 and a 12 month high of $79.49. The stock has a fifty day moving average price of $64.80 and a 200-day moving average price of $69.53.

Charles Schwab (NYSE:SCHW) last announced its earnings results on Tuesday, October 15th. The financial services provider reported $0.77 EPS for the quarter, topping analysts’ consensus estimates of $0.75 by $0.02. Charles Schwab had a net margin of 26.30% and a return on equity of 18.14%. The business had revenue of $4.85 billion during the quarter, compared to the consensus estimate of $4.78 billion. During the same period in the previous year, the company posted $0.77 earnings per share. The firm’s revenue was up 5.2% on a year-over-year basis. As a group, equities research analysts anticipate that Charles Schwab will post 3.06 earnings per share for the current fiscal year.

Charles Schwab Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Friday, August 9th were given a $0.25 dividend. The ex-dividend date was Friday, August 9th. This represents a $1.00 annualized dividend and a yield of 1.39%. Charles Schwab’s dividend payout ratio is presently 41.49%.

Insider Activity

In related news, Chairman Charles R. Schwab sold 62,345 shares of the firm’s stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $72.52, for a total transaction of $4,521,259.40. Following the sale, the chairman now owns 60,619,371 shares in the company, valued at approximately $4,396,116,784.92. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, insider Paul V. Woolway sold 1,150 shares of the stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $65.20, for a total transaction of $74,980.00. Following the transaction, the insider now owns 61,887 shares in the company, valued at $4,035,032.40. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Chairman Charles R. Schwab sold 62,345 shares of the company’s stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $72.52, for a total transaction of $4,521,259.40. Following the transaction, the chairman now owns 60,619,371 shares of the company’s stock, valued at $4,396,116,784.92. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 152,201 shares of company stock valued at $10,362,224 in the last three months. 6.60% of the stock is currently owned by corporate insiders.

Institutional Trading of Charles Schwab

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Country Trust Bank purchased a new stake in Charles Schwab during the 2nd quarter worth approximately $26,000. American Capital Advisory LLC purchased a new stake in shares of Charles Schwab during the second quarter worth approximately $27,000. Fortitude Family Office LLC raised its stake in Charles Schwab by 97.5% in the 2nd quarter. Fortitude Family Office LLC now owns 389 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 192 shares during the last quarter. CGC Financial Services LLC acquired a new stake in Charles Schwab during the 2nd quarter worth $29,000. Finally, Mizuho Securities Co. Ltd. purchased a new stake in shares of Charles Schwab during the second quarter worth $29,000. 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.