Nomura restated their neutral rating on shares of Charles Schwab (NYSE:SCHW) in a report published on Thursday morning. The firm currently has a $54.00 target price on the financial services provider’s stock, up from their prior target price of $50.00.
A number of other research firms have also recently commented on SCHW. BidaskClub cut shares of Charles Schwab from a strong-buy rating to a buy rating in a report on Tuesday, October 17th. Morgan Stanley upped their price target on shares of Charles Schwab from $51.00 to $53.00 and gave the stock an overweight rating in a report on Thursday, October 5th. Deutsche Bank upped their price target on shares of Charles Schwab from $46.00 to $47.00 and gave the stock a hold rating in a report on Wednesday, October 25th. SunTrust Banks restated a buy rating and issued a $63.00 price target (up from $56.00) on shares of Charles Schwab in a report on Tuesday, December 26th. Finally, Credit Suisse Group restated a positive rating and issued a $70.00 price target (up from $64.00) on shares of Charles Schwab in a report on Thursday. Seven equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. Charles Schwab presently has an average rating of Buy and a consensus price target of $54.00.
Charles Schwab (NYSE:SCHW) traded up $0.15 during midday trading on Thursday, hitting $55.48. 7,368,346 shares of the stock were exchanged, compared to its average volume of 6,280,000. The company has a current ratio of 0.31, a quick ratio of 0.30 and a debt-to-equity ratio of 0.21. The company has a market capitalization of $74,290.00, a PE ratio of 34.46, a PEG ratio of 1.35 and a beta of 1.75. Charles Schwab has a 12-month low of $37.16 and a 12-month high of $56.25.
Charles Schwab (NYSE:SCHW) last posted its quarterly earnings results on Wednesday, January 17th. The financial services provider reported $0.44 EPS for the quarter, topping the Zacks’ consensus estimate of $0.41 by $0.03. The firm had revenue of $2.24 billion for the quarter, compared to analysts’ expectations of $2.24 billion. Charles Schwab had a net margin of 27.32% and a return on equity of 16.31%. The business’s revenue for the quarter was up 13.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.36 earnings per share. research analysts forecast that Charles Schwab will post 2.41 earnings per share for the current year.
In other news, Chairman Charles R. Schwab sold 350,000 shares of the firm’s stock in a transaction dated Thursday, November 16th. The shares were sold at an average price of $44.65, for a total value of $15,627,500.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Walter W. Bettinger purchased 72,510 shares of the stock in a transaction dated Tuesday, November 7th. The stock was purchased at an average price of $27.21 per share, for a total transaction of $1,972,997.10. Following the completion of the acquisition, the insider now directly owns 41,330 shares in the company, valued at approximately $1,124,589.30. The disclosure for this purchase can be found here. Insiders sold a total of 1,958,531 shares of company stock worth $93,990,901 over the last 90 days. Company insiders own 12.00% of the company’s stock.
Several large investors have recently added to or reduced their stakes in the company. Intermede Investment Partners Ltd boosted its holdings in shares of Charles Schwab by 5.0% in the 4th quarter. Intermede Investment Partners Ltd now owns 1,201,919 shares of the financial services provider’s stock valued at $61,743,000 after buying an additional 56,837 shares in the last quarter. West Coast Financial LLC boosted its holdings in shares of Charles Schwab by 1.2% in the 4th quarter. West Coast Financial LLC now owns 100,838 shares of the financial services provider’s stock valued at $5,180,000 after buying an additional 1,238 shares in the last quarter. State of Alaska Department of Revenue raised its position in shares of Charles Schwab by 311.7% in the 4th quarter. State of Alaska Department of Revenue now owns 141,615 shares of the financial services provider’s stock valued at $7,272,000 after purchasing an additional 107,221 shares during the last quarter. Oakbrook Investments LLC purchased a new position in shares of Charles Schwab in the 4th quarter valued at approximately $308,000. Finally, Acadian Asset Management LLC purchased a new position in shares of Charles Schwab in the 4th quarter valued at approximately $187,000. Institutional investors and hedge funds own 79.59% of the company’s stock.
Charles Schwab Company Profile
The Charles Schwab Corporation (CSC) is a savings and loan holding company. The Company, through its subsidiaries, engages in wealth management, securities brokerage, banking, money management and financial advisory services. The Company provides financial services to individuals and institutional clients through two segments: Investor Services and Advisor Services.
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