Charles Schwab (NYSE:SCHW) Upgraded to “Strong-Buy” at Truist Financial

Truist Financial upgraded shares of Charles Schwab (NYSE:SCHW) to a strong-buy rating in a research report sent to investors on Monday,Zacks.com reports.

A number of other research firms have also recently commented on SCHW. Cowen upped their price objective on Charles Schwab from $69.00 to $75.00 and gave the company a “hold” rating in a report on Tuesday, October 15th. Raymond James decreased their price target on Charles Schwab from $76.00 to $73.00 in a research note on Tuesday, October 15th. JPMorgan Chase & Co. raised their price objective on Charles Schwab from $87.00 to $93.00 and gave the stock an “overweight” rating in a research report on Tuesday. The Goldman Sachs Group upped their target price on shares of Charles Schwab from $67.00 to $74.00 and gave the company a “neutral” rating in a research report on Wednesday, October 16th. Finally, StockNews.com upgraded shares of Charles Schwab from a “sell” rating to a “hold” rating in a research report on Wednesday, October 16th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $81.19.

Charles Schwab Trading Up 0.9 %

Shares of NYSE:SCHW opened at $72.93 on Monday. The firm has a market capitalization of $129.79 billion, a price-to-earnings ratio of 28.49, a price-to-earnings-growth ratio of 1.76 and a beta of 0.99. The business’s 50 day moving average price is $77.49 and its 200-day moving average price is $70.63. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.47 and a quick ratio of 0.47. Charles Schwab has a 1 year low of $59.67 and a 1 year high of $83.35.

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

Charles Schwab Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Friday, November 8th were given a $0.25 dividend. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.00 dividend on an annualized basis and a yield of 1.37%. Charles Schwab’s dividend payout ratio (DPR) is presently 39.06%.

Insider Activity at Charles Schwab

In other news, Chairman Charles R. Schwab sold 62,345 shares of the business’s stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $72.52, for a total transaction of $4,521,259.40. Following the transaction, the chairman now directly owns 60,619,371 shares in the company, valued at $4,396,116,784.92. The trade was a 0.10 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Nigel J. Murtagh sold 12,739 shares of the business’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $81.17, for a total value of $1,034,024.63. Following the transaction, the insider now owns 59,092 shares in the company, valued at $4,796,497.64. The trade was a 17.73 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 118,968 shares of company stock valued at $8,842,821 in the last three months. 6.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Charles Schwab

A number of institutional investors have recently made changes to their positions in the stock. Alliance Wealth Advisors LLC increased its stake in Charles Schwab by 2.7% in the third quarter. Alliance Wealth Advisors LLC now owns 5,358 shares of the financial services provider’s stock valued at $347,000 after purchasing an additional 142 shares during the last quarter. Michael S. Ryan Inc. increased its stake in shares of Charles Schwab by 2.5% during the 4th quarter. Michael S. Ryan Inc. now owns 5,998 shares of the financial services provider’s stock valued at $444,000 after acquiring an additional 144 shares during the last quarter. GS Investments Inc. lifted its holdings in shares of Charles Schwab by 0.3% during the 3rd quarter. GS Investments Inc. now owns 57,434 shares of the financial services provider’s stock worth $3,722,000 after acquiring an additional 146 shares during the period. Washington Trust Advisors Inc. boosted its position in shares of Charles Schwab by 62.6% in the third quarter. Washington Trust Advisors Inc. now owns 387 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 149 shares during the last quarter. Finally, Arcataur Capital Management LLC grew its holdings in Charles Schwab by 2.3% in the third quarter. Arcataur Capital Management LLC now owns 6,648 shares of the financial services provider’s stock valued at $431,000 after purchasing an additional 150 shares during the period. 84.38% of the stock is owned by institutional investors and hedge funds.

Charles Schwab Company Profile

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.