Charles Schwab (NYSE:SCHW) Price Target Raised to $114.00

Charles Schwab (NYSE:SCHW) had its target price upped by Argus from $108.00 to $114.00 in a research note published on Thursday, Marketbeat reports. The brokerage currently has a buy rating on the financial services provider’s stock.

A number of other equities analysts also recently commented on the stock. Citigroup restated a “market outperform” rating on shares of Charles Schwab in a research report on Wednesday. Truist Financial lowered their target price on shares of Charles Schwab from $122.00 to $120.00 and set a “buy” rating on the stock in a report on Wednesday, April 1st. Keefe, Bruyette & Woods initiated coverage on shares of Charles Schwab in a research note on Wednesday, April 8th. They set an “outperform” rating and a $110.00 price target on the stock. Weiss Ratings reissued a “buy (b-)” rating on shares of Charles Schwab in a report on Thursday, June 18th. Finally, Barclays raised their price objective on shares of Charles Schwab from $122.00 to $125.00 and gave the company an “overweight” rating in a research report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $119.76.

Charles Schwab Trading Up 0.3%

Shares of SCHW stock opened at $101.92 on Thursday. The company has a market capitalization of $177.25 billion, a P/E ratio of 18.53, a price-to-earnings-growth ratio of 0.83 and a beta of 0.77. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 0.48. The business’s 50 day moving average is $93.93 and its two-hundred day moving average is $95.39. Charles Schwab has a twelve month low of $83.96 and a twelve month high of $107.50.

Charles Schwab (NYSE:SCHW) last released its quarterly earnings results on Tuesday, July 21st. The financial services provider reported $1.62 EPS for the quarter, topping the consensus estimate of $1.56 by $0.06. Charles Schwab had a return on equity of 24.73% and a net margin of 38.79%.The business had revenue of $7.07 billion during the quarter, compared to analysts’ expectations of $6.90 billion. During the same quarter in the prior year, the business earned $1.14 earnings per share. The company’s quarterly revenue was up 20.9% compared to the same quarter last year. Equities analysts forecast that Charles Schwab will post 6.43 EPS for the current year.

Charles Schwab Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 28th. Investors of record on Friday, August 14th will be issued a dividend of $0.32 per share. The ex-dividend date of this dividend is Friday, August 14th. This represents a $1.28 dividend on an annualized basis and a yield of 1.3%. Charles Schwab’s payout ratio is currently 23.27%.

Insider Activity

In other news, Director Frank C. Herringer sold 2,520 shares of Charles Schwab stock in a transaction that occurred on Tuesday, April 28th. The shares were sold at an average price of $90.60, for a total transaction of $228,312.00. Following the completion of the sale, the director directly owned 177,508 shares in the company, valued at approximately $16,082,224.80. This trade represents a 1.40% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jonathan S. Beatty sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, July 6th. The stock was sold at an average price of $100.01, for a total value of $200,020.00. Following the sale, the insider directly owned 13,738 shares in the company, valued at $1,373,937.38. This trade represents a 12.71% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 6,520 shares of company stock worth $622,392 over the last 90 days. 6.30% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Charles Schwab

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Brighton Jones LLC boosted its position in shares of Charles Schwab by 380.5% in the 4th quarter. Brighton Jones LLC now owns 24,240 shares of the financial services provider’s stock worth $1,794,000 after buying an additional 19,195 shares in the last quarter. Sivia Capital Partners LLC increased its holdings in Charles Schwab by 21.6% during the 2nd quarter. Sivia Capital Partners LLC now owns 4,553 shares of the financial services provider’s stock valued at $415,000 after acquiring an additional 809 shares in the last quarter. United Bank raised its position in Charles Schwab by 7.1% during the second quarter. United Bank now owns 16,053 shares of the financial services provider’s stock worth $1,465,000 after acquiring an additional 1,070 shares during the last quarter. Nebula Research & Development LLC acquired a new position in Charles Schwab during the second quarter worth about $552,000. Finally, Main Street Financial Solutions LLC lifted its holdings in shares of Charles Schwab by 4.7% in the second quarter. Main Street Financial Solutions LLC now owns 6,828 shares of the financial services provider’s stock valued at $623,000 after purchasing an additional 305 shares in the last quarter. 84.38% of the stock is owned by institutional investors and hedge funds.

More Charles Schwab News

Here are the key news stories impacting Charles Schwab this week:

• Positive Sentiment: Schwab announced a quarterly common stock dividend of $0.32 per share, along with preferred stock dividends, reinforcing its capital-return story for income-focused investors. Schwab Declares Quarterly Common Stock Dividend and Declares Preferred Stock Dividends
• Positive Sentiment: Argus raised its price target on SCHW to $114 from $108 and kept a buy rating, signaling confidence in further upside. Argus raises Charles Schwab price target
• Positive Sentiment: Schwab was added to Zacks’ “Best Income Stocks to Buy” list, suggesting investors continue to view the company as an attractive income and quality financial-services name. Best Income Stocks to Buy for July 23rd
• Positive Sentiment: Recent coverage highlighted Schwab’s “dual beats” in its latest quarter, with earnings and revenue both coming in above expectations, adding to the bullish case after the July 21 report. Charles Schwab: Dual Beats And Attractive Preferreds
• Neutral Sentiment: Schwab also received media attention for its call for the CLARITY Act to pass, framing crypto regulation as a potential long-term industry catalyst, though the timing remains uncertain. Charles Schwab Calls CLARITY Act a Fundamental Catalyst

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.