Charles Schwab (NYSE:SCHW) Given New $85.00 Price Target at Citigroup

Charles Schwab (NYSE:SCHW) had its price objective lifted by Citigroup from $80.00 to $85.00 in a report published on Wednesday morning,Benzinga reports. Citigroup currently has a neutral rating on the financial services provider’s stock.

A number of other research analysts have also recently commented on SCHW. Deutsche Bank Aktiengesellschaft increased their price target on shares of Charles Schwab from $98.00 to $105.00 and gave the company a “buy” rating in a research report on Wednesday. Wells Fargo & Company dropped their price objective on Charles Schwab from $90.00 to $89.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 14th. The Goldman Sachs Group increased their price objective on Charles Schwab from $67.00 to $74.00 and gave the company a “neutral” rating in a research note on Wednesday, October 16th. Truist Financial raised Charles Schwab to a “strong-buy” rating in a research note on Monday, January 6th. Finally, Piper Sandler increased their price objective on Charles Schwab from $65.00 to $70.00 and gave the company a “neutral” rating in a research note on Tuesday, January 7th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $83.83.

Charles Schwab Stock Down 0.5 %

Shares of NYSE SCHW opened at $81.67 on Wednesday. Charles Schwab has a one year low of $61.01 and a one year high of $83.35. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.47 and a quick ratio of 0.47. The firm’s 50 day simple moving average is $77.78 and its two-hundred day simple moving average is $70.82. The stock has a market capitalization of $145.34 billion, a P/E ratio of 27.31, a PEG ratio of 1.46 and a beta of 0.99.

Charles Schwab (NYSE:SCHW) last issued its quarterly earnings results on Tuesday, January 21st. The financial services provider reported $1.01 EPS for the quarter, beating analysts’ consensus estimates of $0.90 by $0.11. Charles Schwab had a net margin of 30.31% and a return on equity of 18.20%. The business had revenue of $5.33 billion for the quarter, compared to analysts’ expectations of $5,190,822.51 billion. During the same period last year, the business earned $0.68 earnings per share. The business’s quarterly revenue was up 19.5% on a year-over-year basis. As a group, analysts expect that Charles Schwab will post 4.09 EPS for the current fiscal year.

Insiders Place Their Bets

In other Charles Schwab news, insider Jonathan S. Beatty sold 2,500 shares of the stock in a transaction on Monday, November 11th. The stock was sold at an average price of $77.02, for a total value of $192,550.00. Following the completion of the transaction, the insider now owns 18,069 shares in the company, valued at approximately $1,391,674.38. This represents a 12.15 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Peter J. Morgan III sold 14,643 shares of the stock in a transaction on Wednesday, January 22nd. The stock was sold at an average price of $80.70, for a total value of $1,181,690.10. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 41,466 shares of company stock worth $3,352,884. 6.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Charles Schwab

Institutional investors and hedge funds have recently modified their holdings of the stock. Merit Financial Group LLC increased its holdings in shares of Charles Schwab by 230.1% during the fourth quarter. Merit Financial Group LLC now owns 33,546 shares of the financial services provider’s stock valued at $2,483,000 after acquiring an additional 23,383 shares in the last quarter. Benjamin Edwards Inc. increased its holdings in shares of Charles Schwab by 2,840.7% during the third quarter. Benjamin Edwards Inc. now owns 6,146 shares of the financial services provider’s stock valued at $398,000 after acquiring an additional 5,937 shares in the last quarter. Synovus Financial Corp increased its holdings in shares of Charles Schwab by 46.0% during the third quarter. Synovus Financial Corp now owns 67,889 shares of the financial services provider’s stock valued at $4,400,000 after acquiring an additional 21,377 shares in the last quarter. Patten & Patten Inc. TN increased its holdings in Charles Schwab by 155.9% in the 3rd quarter. Patten & Patten Inc. TN now owns 104,168 shares of the financial services provider’s stock worth $6,751,000 after buying an additional 63,463 shares in the last quarter. Finally, Equity Investment Corp increased its holdings in Charles Schwab by 9.4% in the 3rd quarter. Equity Investment Corp now owns 1,640,157 shares of the financial services provider’s stock worth $106,299,000 after buying an additional 140,643 shares in the last quarter. 84.38% of the stock is currently owned by institutional investors.

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.