Charles Schwab (NYSE:SCHW) Price Target Raised to $122.00

Charles Schwab (NYSE:SCHW) had its price objective raised by stock analysts at Deutsche Bank Aktiengesellschaft from $120.00 to $122.00 in a research report issued on Thursday, The Fly reports. Deutsche Bank Aktiengesellschaft’s target price would indicate a potential upside of 27.71% from the stock’s current price.

A number of other research analysts have also issued reports on SCHW. Piper Sandler increased their target price on Charles Schwab from $90.00 to $100.00 in a research report on Monday, January 10th. Bank of America assumed coverage on shares of Charles Schwab in a report on Thursday, December 16th. They set a “buy” rating on the stock. JMP Securities cut shares of Charles Schwab from an “outperform” rating to a “market perform” rating in a research note on Monday, January 10th. Wolfe Research reduced their price target on shares of Charles Schwab from $94.00 to $90.00 and set an “outperform” rating for the company in a research report on Friday, October 22nd. Finally, Jefferies Financial Group lifted their price objective on Charles Schwab from $89.00 to $96.00 and gave the stock a “buy” rating in a report on Friday, October 22nd. Five analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $93.28.

NYSE:SCHW opened at $95.53 on Thursday. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 0.41. Charles Schwab has a 52 week low of $50.76 and a 52 week high of $95.62. The stock’s 50-day moving average price is $83.80 and its 200-day moving average price is $77.22. The stock has a market capitalization of $173.03 billion, a PE ratio of 36.32, a price-to-earnings-growth ratio of 0.95 and a beta of 1.04.

Charles Schwab (NYSE:SCHW) last issued its quarterly earnings results on Thursday, October 14th. The financial services provider reported $0.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.81 by $0.03. The company had revenue of $4.57 billion for the quarter, compared to the consensus estimate of $4.51 billion. Charles Schwab had a return on equity of 13.53% and a net margin of 30.08%. Charles Schwab’s revenue for the quarter was up 86.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.51 earnings per share. Sell-side analysts expect that Charles Schwab will post 3.27 earnings per share for the current fiscal year.

In other Charles Schwab news, EVP Nigel J. Murtagh sold 28,000 shares of Charles Schwab stock in a transaction dated Friday, October 22nd. The shares were sold at an average price of $83.26, for a total transaction of $2,331,280.00. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Bernard J. Clark sold 300 shares of the stock in a transaction that occurred on Monday, October 25th. The shares were sold at an average price of $84.00, for a total transaction of $25,200.00. The disclosure for this sale can be found here. Insiders have sold 1,185,428 shares of company stock worth $97,611,276 in the last three months. 7.50% of the stock is currently owned by corporate insiders.

A number of large investors have recently bought and sold shares of SCHW. BlackRock Inc. lifted its stake in shares of Charles Schwab by 4.3% in the 2nd quarter. BlackRock Inc. now owns 112,447,685 shares of the financial services provider’s stock valued at $8,187,314,000 after purchasing an additional 4,670,450 shares during the last quarter. Vontobel Holding Ltd. raised its holdings in Charles Schwab by 8.5% in the 3rd quarter. Vontobel Holding Ltd. now owns 19,215 shares of the financial services provider’s stock valued at $1,400,000 after buying an additional 1,501 shares during the period. CIBC Asset Management Inc lifted its position in Charles Schwab by 20.7% in the third quarter. CIBC Asset Management Inc now owns 280,932 shares of the financial services provider’s stock valued at $20,463,000 after buying an additional 48,254 shares during the last quarter. JustInvest LLC boosted its stake in Charles Schwab by 15.1% during the third quarter. JustInvest LLC now owns 23,418 shares of the financial services provider’s stock worth $1,706,000 after buying an additional 3,065 shares during the period. Finally, Bank of New York Mellon Corp increased its position in shares of Charles Schwab by 11.9% during the second quarter. Bank of New York Mellon Corp now owns 14,417,167 shares of the financial services provider’s stock valued at $1,049,714,000 after acquiring an additional 1,538,627 shares during the last quarter. Institutional investors own 71.35% of the company’s stock.

About Charles Schwab

The Charles Schwab Corp. is a savings and loan holding company, which engages in the provision of wealth management, securities brokerage, banking, asset management, custody, and financial advisory services. It operates through the Investor Services and Advisor Services segments. The Investor Services segment includes retail brokerage and banking services to individual investors, and retirement plan services, as well as other corporate brokerage services, to businesses and their employees.

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