Charles Schwab (NYSE:SCHW) PT Lowered to $72.00 at Citigroup

Charles Schwab (NYSE:SCHW) had its target price reduced by Citigroup from $75.00 to $72.00 in a research note issued to investors on Friday morning, Benzinga reports. Citigroup currently has a neutral rating on the financial services provider’s stock.

SCHW has been the topic of a number of other reports. Keefe, Bruyette & Woods reissued an outperform rating and issued a $80.00 price target on shares of Charles Schwab in a report on Thursday, August 22nd. Piper Sandler cut shares of Charles Schwab from an overweight rating to a neutral rating and lowered their target price for the stock from $80.00 to $64.00 in a research note on Monday, July 29th. UBS Group reduced their price target on shares of Charles Schwab from $91.00 to $90.00 and set a buy rating for the company in a research report on Tuesday, July 9th. Wells Fargo & Company initiated coverage on Charles Schwab in a research report on Thursday, September 12th. They issued an equal weight rating and a $70.00 price objective on the stock. Finally, TD Cowen restated a hold rating and set a $71.00 target price (down from $88.00) on shares of Charles Schwab in a research report on Wednesday, July 17th. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, Charles Schwab currently has an average rating of Hold and a consensus price target of $73.31.

Charles Schwab Stock Up 0.9 %

SCHW opened at $64.42 on Friday. Charles Schwab has a 12 month low of $48.66 and a 12 month high of $79.49. The company has a market cap of $114.57 billion, a PE ratio of 26.95, a price-to-earnings-growth ratio of 1.21 and a beta of 0.97. 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 company has a 50 day moving average of $64.10 and a 200 day moving average of $69.86.

Charles Schwab (NYSE:SCHW) last announced its quarterly earnings results on Tuesday, July 16th. The financial services provider reported $0.73 earnings per share for the quarter, beating the consensus estimate of $0.72 by $0.01. Charles Schwab had a return on equity of 18.14% and a net margin of 26.30%. The company had revenue of $4.69 billion during the quarter, compared to analysts’ expectations of $4.68 billion. During the same period in the previous year, the business earned $0.75 earnings per share. The firm’s quarterly revenue was up .7% compared to the same quarter last year. On average, sell-side analysts expect that Charles Schwab will post 3.05 EPS for the current year.

Charles Schwab Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Friday, August 9th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.55%. The ex-dividend date was Friday, August 9th. Charles Schwab’s dividend payout ratio is presently 41.84%.

Insider Activity

In other news, CEO Walter W. Bettinger bought 25,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 17th. The shares were bought at an average cost of $66.26 per share, with a total value of $1,656,500.00. Following the completion of the purchase, the chief executive officer now directly owns 827,377 shares in the company, valued at $54,822,000.02. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Charles Schwab news, CEO Walter W. Bettinger acquired 25,000 shares of the business’s stock in a transaction dated Wednesday, July 17th. The shares were purchased at an average cost of $66.26 per share, for a total transaction of $1,656,500.00. Following the transaction, the chief executive officer now owns 827,377 shares in the company, valued at $54,822,000.02. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, President Richard A. Wurster purchased 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 17th. The stock was acquired at an average cost of $62.05 per share, with a total value of $620,500.00. Following the purchase, the president now directly owns 144,228 shares of the company’s stock, valued at $8,949,347.40. The disclosure for this purchase can be found here. Over the last three months, insiders have sold 99,636 shares of company stock valued at $6,457,104. 6.60% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in SCHW. Nelson Capital Management LLC grew its stake in shares of Charles Schwab by 0.4% in the first quarter. Nelson Capital Management LLC now owns 37,726 shares of the financial services provider’s stock worth $2,729,000 after acquiring an additional 141 shares during the last quarter. Abbrea Capital LLC raised its holdings in Charles Schwab by 2.5% in the first quarter. Abbrea Capital LLC now owns 5,777 shares of the financial services provider’s stock worth $418,000 after buying an additional 142 shares during the last quarter. Ironwood Financial llc raised its holdings in Charles Schwab by 1.6% in the first quarter. Ironwood Financial llc now owns 10,186 shares of the financial services provider’s stock worth $737,000 after buying an additional 160 shares during the last quarter. Ascent Wealth Partners LLC lifted its stake in shares of Charles Schwab by 0.7% in the second quarter. Ascent Wealth Partners LLC now owns 23,361 shares of the financial services provider’s stock worth $1,721,000 after buying an additional 164 shares in the last quarter. Finally, Sutton Place Investors LLC grew its holdings in shares of Charles Schwab by 2.1% during the second quarter. Sutton Place Investors LLC now owns 8,086 shares of the financial services provider’s stock valued at $596,000 after buying an additional 167 shares during the last quarter. 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.