Brokerages Set The Charles Schwab Corporation (NYSE:SCHW) PT at $108.37

Shares of The Charles Schwab Corporation (NYSE:SCHW) have earned a consensus recommendation of “Moderate Buy” from the twenty-three brokerages that are currently covering the company, Marketbeat reports. Two research analysts have rated the stock with a sell recommendation, five have assigned a hold recommendation, fifteen have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $108.8421.

Several research firms have issued reports on SCHW. Barclays cut their target price on Charles Schwab from $115.00 to $111.00 and set an “overweight” rating on the stock in a research note on Friday, December 12th. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $114.00 price objective on shares of Charles Schwab in a research report on Friday, October 17th. JMP Securities reiterated a “market outperform” rating and set a $110.00 price objective on shares of Charles Schwab in a research note on Friday, October 17th. TD Cowen increased their target price on shares of Charles Schwab from $129.00 to $134.00 and gave the company a “buy” rating in a research report on Friday, October 17th. Finally, Truist Financial raised their target price on shares of Charles Schwab from $112.00 to $113.00 and gave the company a “buy” rating in a research note on Friday, October 17th.

Charles Schwab Stock Performance

Shares of NYSE:SCHW opened at $101.20 on Friday. The firm has a 50 day moving average of $94.49 and a 200 day moving average of $93.98. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 0.47. The company has a market capitalization of $179.82 billion, a price-to-earnings ratio of 23.70, a price-to-earnings-growth ratio of 0.82 and a beta of 0.96. Charles Schwab has a 52 week low of $65.88 and a 52 week high of $102.05.

Charles Schwab (NYSE:SCHW) last announced its quarterly earnings results on Thursday, October 16th. The financial services provider reported $1.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.25 by $0.06. The business had revenue of $6.38 billion for the quarter, compared to the consensus estimate of $5.93 billion. Charles Schwab had a return on equity of 21.02% and a net margin of 35.93%.The business’s revenue was up 26.6% compared to the same quarter last year. During the same period last year, the business posted $0.71 EPS. On average, sell-side analysts predict that Charles Schwab will post 4.22 earnings per share for the current fiscal year.

Charles Schwab Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 28th. Investors of record on Friday, November 14th were paid a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 1.1%. The ex-dividend date was Friday, November 14th. Charles Schwab’s payout ratio is 25.29%.

Insider Activity

In related news, insider Jonathan S. Beatty sold 3,072 shares of the stock in a transaction that occurred on Wednesday, November 12th. The shares were sold at an average price of $98.00, for a total value of $301,056.00. Following the completion of the transaction, the insider directly owned 11,923 shares of the company’s stock, valued at $1,168,454. This trade represents a 20.49% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Paul V. Woolway sold 3,205 shares of the business’s stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $93.33, for a total transaction of $299,122.65. Following the sale, the insider directly owned 34,778 shares in the company, valued at approximately $3,245,830.74. This represents a 8.44% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 6.30% of the company’s stock.

Hedge Funds Weigh In On Charles Schwab

Several hedge funds have recently made changes to their positions in the company. Princeton Global Asset Management LLC acquired a new position in shares of Charles Schwab in the second quarter valued at about $25,000. RMG Wealth Management LLC acquired a new position in Charles Schwab in the 2nd quarter worth approximately $27,000. West Branch Capital LLC acquired a new position in Charles Schwab in the 3rd quarter worth approximately $27,000. CBIZ Investment Advisory Services LLC raised its position in Charles Schwab by 97.9% during the 1st quarter. CBIZ Investment Advisory Services LLC now owns 386 shares of the financial services provider’s stock worth $30,000 after buying an additional 191 shares during the last quarter. Finally, Activest Wealth Management lifted its stake in Charles Schwab by 6,650.0% during the 1st quarter. Activest Wealth Management now owns 405 shares of the financial services provider’s stock valued at $32,000 after acquiring an additional 399 shares during the period. 84.38% of the stock is owned by institutional investors and hedge funds.

Charles Schwab Company Profile

Charles Schwab Corporation (NYSE: SCHW) is a diversified financial services firm that provides brokerage, banking, wealth management and advisory services to individual investors, independent investment advisors and institutional clients. Its primary offerings include retail brokerage accounts, online trading platforms, Schwab-branded mutual funds and exchange-traded funds (ETFs), retirement plan services, custodial services for independent Registered Investment Advisors (RIAs), and banking products through Charles Schwab Bank.