Charles Schwab (NYSE:SCHW) Given New $73.00 Price Target at Jefferies Financial Group

Charles Schwab (NYSE:SCHW) had its price target reduced by Jefferies Financial Group from $79.00 to $73.00 in a report published on Friday morning, Benzinga reports. Jefferies Financial Group currently has a buy rating on the financial services provider’s stock.

Other equities research analysts have also issued reports about the stock. Barclays dropped their price objective on shares of Charles Schwab from $77.00 to $68.00 and set an equal weight rating on the stock in a report on Wednesday, July 17th. JPMorgan Chase & Co. dropped their price objective on shares of Charles Schwab from $82.00 to $78.00 and set an overweight rating on the stock in a report on Wednesday, July 17th. Piper Sandler lowered shares of Charles Schwab from an overweight rating to a neutral rating and lowered their price target for the company from $80.00 to $64.00 in a research note on Monday, July 29th. Wells Fargo & Company started coverage on shares of Charles Schwab in a research note on Thursday, September 12th. They issued an equal weight rating and a $70.00 price target on the stock. Finally, TD Cowen reiterated a hold rating and issued a $71.00 price target (down from $88.00) on shares of Charles Schwab in a research note on Wednesday, July 17th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and seven have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of Hold and a consensus price target of $72.25.

Charles Schwab Trading Down 0.7 %

Shares of NYSE SCHW opened at $64.29 on Friday. The company’s fifty day moving average is $63.97 and its 200-day moving average is $69.72. The stock has a market cap of $114.34 billion, a price-to-earnings ratio of 26.90, a P/E/G ratio of 1.29 and a beta of 0.97. Charles Schwab has a twelve month low of $48.66 and a twelve month high of $79.49. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 0.65.

Charles Schwab (NYSE:SCHW) last issued its quarterly earnings data on Tuesday, July 16th. The financial services provider reported $0.73 EPS for the quarter, topping analysts’ consensus estimates of $0.72 by $0.01. Charles Schwab had a net margin of 26.30% and a return on equity of 18.14%. The business had revenue of $4.69 billion for the quarter, compared to analyst estimates of $4.68 billion. During the same period last year, the business posted $0.75 earnings per share. The firm’s quarterly revenue was up .7% on a year-over-year basis. Equities research analysts predict that Charles Schwab will post 3.06 EPS for the current year.

Charles Schwab Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Friday, August 9th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.56%. The ex-dividend date was Friday, August 9th. Charles Schwab’s payout ratio is 41.84%.

Insider Buying and Selling

In related news, insider Jonathan S. Beatty sold 780 shares of Charles Schwab stock in a transaction dated Thursday, July 11th. The shares were sold at an average price of $75.00, for a total transaction of $58,500.00. Following the completion of the sale, the insider now owns 18,069 shares of the company’s stock, valued at approximately $1,355,175. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Charles Schwab news, CEO Walter W. Bettinger acquired 25,000 shares of the business’s stock in a transaction on Wednesday, July 17th. The stock was purchased at an average price of $66.26 per share, with a total value of $1,656,500.00. Following the acquisition, the chief executive officer now directly owns 827,377 shares of the company’s stock, valued at approximately $54,822,000.02. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jonathan S. Beatty sold 780 shares of the business’s stock in a transaction dated Thursday, July 11th. The shares were sold at an average price of $75.00, for a total transaction of $58,500.00. Following the completion of the sale, the insider now directly owns 18,069 shares of the company’s stock, valued at $1,355,175. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 99,636 shares of company stock valued at $6,457,104. Company insiders own 6.60% of the company’s stock.

Institutional Trading of Charles Schwab

A number of institutional investors have recently bought and sold shares of SCHW. Salvus Wealth Management LLC raised its position in shares of Charles Schwab by 0.7% in the 3rd quarter. Salvus Wealth Management LLC now owns 74,818 shares of the financial services provider’s stock valued at $4,849,000 after buying an additional 519 shares in the last quarter. Eagle Rock Investment Company LLC acquired a new position in shares of Charles Schwab in the 3rd quarter valued at approximately $1,314,000. Handelsbanken Fonder AB raised its position in shares of Charles Schwab by 0.7% in the 3rd quarter. Handelsbanken Fonder AB now owns 480,867 shares of the financial services provider’s stock valued at $31,165,000 after buying an additional 3,138 shares in the last quarter. Ridgewood Investments LLC raised its position in shares of Charles Schwab by 110.7% in the 3rd quarter. Ridgewood Investments LLC now owns 21,292 shares of the financial services provider’s stock valued at $1,380,000 after buying an additional 11,187 shares in the last quarter. Finally, Canandaigua National Bank & Trust Co. raised its position in shares of Charles Schwab by 0.9% in the 3rd quarter. Canandaigua National Bank & Trust Co. now owns 31,084 shares of the financial services provider’s stock valued at $2,015,000 after buying an additional 290 shares in the last quarter. Institutional investors 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.