Piper Sandler Forecasts Strong Price Appreciation for Charles Schwab (NYSE:SCHW) Stock

Charles Schwab (NYSE:SCHW) had its price objective increased by Piper Sandler from $74.00 to $80.00 in a research note released on Thursday morning.

Several other analysts have also recently commented on SCHW. Truist Financial lowered their target price on Charles Schwab from $91.00 to $85.00 and set a “buy” rating on the stock in a research report on Friday, April 4th. Wells Fargo & Company reduced their target price on shares of Charles Schwab from $93.00 to $87.00 and set an “overweight” rating for the company in a report on Tuesday, April 8th. UBS Group lifted their price target on Charles Schwab from $90.00 to $95.00 and gave the stock a “buy” rating in a research note on Monday, January 27th. Morgan Stanley raised shares of Charles Schwab from an “equal weight” rating to an “overweight” rating and set a $76.00 target price on the stock in a research note on Tuesday, April 8th. Finally, JMP Securities reduced their price target on shares of Charles Schwab from $96.00 to $94.00 and set a “market outperform” rating for the company in a research report on Tuesday, April 8th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $85.44.

Charles Schwab Trading Up 1.1 %

NYSE:SCHW opened at $76.52 on Thursday. The business’s 50 day moving average is $77.30 and its two-hundred day moving average is $76.40. Charles Schwab has a 52 week low of $61.01 and a 52 week high of $84.50. The company has a market cap of $138.77 billion, a PE ratio of 25.59, a P/E/G ratio of 0.99 and a beta of 0.91. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 0.59.

Charles Schwab (NYSE:SCHW) last issued its earnings results on Thursday, April 17th. The financial services provider reported $1.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.01 by $0.03. The firm had revenue of $5.60 billion for the quarter, compared to analysts’ expectations of $5.46 billion. Charles Schwab had a net margin of 30.31% and a return on equity of 18.20%. During the same quarter last year, the company posted $0.74 earnings per share. On average, analysts predict that Charles Schwab will post 4.22 EPS for the current year.

Charles Schwab Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 14th were issued a dividend of $0.27 per share. This is an increase from Charles Schwab’s previous quarterly dividend of $0.25. This represents a $1.08 annualized dividend and a dividend yield of 1.41%. The ex-dividend date was Friday, February 14th. Charles Schwab’s dividend payout ratio is currently 36.12%.

Insider Transactions at Charles Schwab

In other Charles Schwab news, Chairman Walter W. Bettinger sold 464,629 shares of the firm’s stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $81.91, for a total value of $38,057,761.39. Following the completion of the sale, the chairman now owns 827,377 shares in the company, valued at approximately $67,770,450.07. This trade represents a 35.96 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Paul V. Woolway sold 3,380 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $79.32, for a total value of $268,101.60. Following the sale, the insider now owns 57,818 shares in the company, valued at approximately $4,586,123.76. This represents a 5.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 513,081 shares of company stock worth $41,903,066. Company insiders own 6.30% of the company’s stock.

Institutional Investors Weigh In On Charles Schwab

Several institutional investors and hedge funds have recently bought and sold shares of the business. NBT Bank N A NY increased its stake in Charles Schwab by 29.6% in the first quarter. NBT Bank N A NY now owns 12,365 shares of the financial services provider’s stock valued at $968,000 after acquiring an additional 2,822 shares during the period. Robertson Stephens Wealth Management LLC raised its holdings in shares of Charles Schwab by 36.1% in the 1st quarter. Robertson Stephens Wealth Management LLC now owns 11,007 shares of the financial services provider’s stock worth $862,000 after buying an additional 2,919 shares in the last quarter. Inscription Capital LLC bought a new position in shares of Charles Schwab during the 1st quarter worth approximately $542,000. QRG Capital Management Inc. boosted its stake in Charles Schwab by 1.4% in the 1st quarter. QRG Capital Management Inc. now owns 27,074 shares of the financial services provider’s stock valued at $2,119,000 after buying an additional 375 shares in the last quarter. Finally, Sagespring Wealth Partners LLC grew its position in Charles Schwab by 43.3% in the first quarter. Sagespring Wealth Partners LLC now owns 9,036 shares of the financial services provider’s stock valued at $707,000 after acquiring an additional 2,732 shares during the period. Institutional investors own 84.38% of the company’s stock.

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.