Charles Schwab (NYSE:SCHW) Price Target Raised to $93.00 at JPMorgan Chase & Co.

Charles Schwab (NYSE:SCHW) had its target price upped by research analysts at JPMorgan Chase & Co. from $87.00 to $93.00 in a note issued to investors on Tuesday,Benzinga reports. The firm presently has an “overweight” rating on the financial services provider’s stock. JPMorgan Chase & Co.‘s price objective would indicate a potential upside of 27.52% from the stock’s current price.

A number of other research firms have also recently issued reports on SCHW. JMP Securities reaffirmed a “market outperform” rating and issued a $94.00 price objective (up from $84.00) on shares of Charles Schwab in a research report on Monday, December 9th. Piper Sandler lifted their price objective on shares of Charles Schwab from $65.00 to $70.00 and gave the stock a “neutral” rating in a research report on Tuesday. Barclays upgraded shares of Charles Schwab from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $74.00 to $95.00 in a report on Monday, December 9th. Morgan Stanley raised their target price on shares of Charles Schwab from $68.00 to $74.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 24th. Finally, Jefferies Financial Group upped their price target on shares of Charles Schwab from $84.00 to $94.00 and gave the company a “buy” rating in a research note on Monday, December 9th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $81.19.

Charles Schwab Price Performance

NYSE:SCHW opened at $72.93 on Tuesday. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 0.59. The firm has a fifty day simple moving average of $77.49 and a 200 day simple moving average of $70.63. Charles Schwab has a 1-year low of $59.67 and a 1-year high of $83.35. The stock has a market capitalization of $129.79 billion, a PE ratio of 28.49, a P/E/G ratio of 1.76 and a beta of 0.99.

Charles Schwab (NYSE:SCHW) last released its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $0.77 earnings per share for the quarter, topping the consensus estimate of $0.75 by $0.02. Charles Schwab had a net margin of 27.47% and a return on equity of 16.92%. The company had revenue of $4.85 billion for the quarter, compared to analyst estimates of $4.78 billion. During the same period in the previous year, the business earned $0.77 EPS. Charles Schwab’s revenue for the quarter was up 5.2% compared to the same quarter last year. On average, research analysts expect that Charles Schwab will post 3.12 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Chairman Charles R. Schwab sold 62,345 shares of Charles Schwab stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $72.52, for a total value of $4,521,259.40. Following the transaction, the chairman now owns 60,619,371 shares in the company, valued at approximately $4,396,116,784.92. This trade represents a 0.10 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Carolyn Schwab-Pomerantz sold 29,800 shares of the company’s stock in a transaction on Thursday, October 17th. The stock was sold at an average price of $72.16, for a total value of $2,150,368.00. Following the sale, the director now owns 551,329 shares of the company’s stock, valued at approximately $39,783,900.64. This represents a 5.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 118,968 shares of company stock valued at $8,842,821 over the last quarter. 6.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On Charles Schwab

A number of institutional investors have recently added to or reduced their stakes in SCHW. Washington Trust Advisors Inc. grew its stake in shares of Charles Schwab by 62.6% during the third quarter. Washington Trust Advisors Inc. now owns 387 shares of the financial services provider’s stock worth $25,000 after buying an additional 149 shares during the last quarter. Capital Performance Advisors LLP acquired a new stake in shares of Charles Schwab during the 3rd quarter valued at $25,000. Prospera Private Wealth LLC bought a new stake in Charles Schwab during the 3rd quarter worth $31,000. Future Financial Wealth Managment LLC acquired a new position in Charles Schwab in the 3rd quarter worth about $32,000. Finally, Hazlett Burt & Watson Inc. bought a new position in Charles Schwab in the third quarter valued at about $33,000. 84.38% of the stock is currently owned by institutional investors and hedge funds.

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.