Piper Sandler Has Lowered Expectations for Charles Schwab (NYSE:SCHW) Stock Price

Charles Schwab (NYSE:SCHW) had its price target dropped by stock analysts at Piper Sandler from $118.00 to $100.00 in a research report issued on Friday, Benzinga reports. The firm currently has a “neutral” rating on the financial services provider’s stock. Piper Sandler’s target price would indicate a potential upside of 2.94% from the company’s previous close.

Several other research analysts also recently issued reports on the stock. Citigroup reiterated a “market outperform” rating on shares of Charles Schwab in a research note on Wednesday, July 22nd. Morgan Stanley boosted their price objective on shares of Charles Schwab from $133.00 to $136.00 and gave the stock an “overweight” rating in a report on Monday, July 27th. Barclays upped their price objective on Charles Schwab from $122.00 to $125.00 and gave the company an “overweight” rating in a research report on Wednesday, July 22nd. Zacks Research downgraded Charles Schwab from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 14th. Finally, Wells Fargo & Company set a $105.00 price target on Charles Schwab and gave the stock an “equal weight” rating in a research note on Thursday. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $119.37.

Charles Schwab Stock Down 1.3%

Shares of SCHW traded down $1.23 during trading hours on Friday, hitting $97.14. The company had a trading volume of 739,757 shares, compared to its average volume of 10,108,007. The stock has a market capitalization of $167.99 billion, a price-to-earnings ratio of 17.65, a P/E/G ratio of 0.85 and a beta of 0.79. The firm has a fifty day moving average price of $106.60 and a 200-day moving average price of $98.03. Charles Schwab has a 52-week low of $83.96 and a 52-week high of $114.53. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.64 and a current ratio of 0.64.

Charles Schwab (NYSE:SCHW) last announced its quarterly earnings data on Tuesday, July 21st. The financial services provider reported $1.62 EPS for the quarter, beating the consensus estimate of $1.56 by $0.06. The company had revenue of $7.07 billion for the quarter, compared to the consensus estimate of $6.90 billion. Charles Schwab had a net margin of 38.79% and a return on equity of 24.53%. Charles Schwab’s revenue for the quarter was up 20.9% on a year-over-year basis. During the same period in the prior year, the firm posted $1.14 EPS. On average, equities research analysts forecast that Charles Schwab will post 6.46 EPS for the current fiscal year.

Insider Buying and Selling at Charles Schwab

In other Charles Schwab news, Director Paula Sneed sold 5,263 shares of the business’s stock in a transaction on Friday, August 7th. The shares were sold at an average price of $107.15, for a total transaction of $563,930.45. Following the completion of the sale, the director directly owned 91,711 shares in the company, valued at approximately $9,826,833.65. The trade was a 5.43% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jonathan Beatty sold 1,000 shares of the firm’s stock in a transaction on Monday, August 17th. The stock was sold at an average price of $111.33, for a total value of $111,330.00. Following the completion of the transaction, the insider owned 10,738 shares in the company, valued at approximately $1,195,461.54. This trade represents a 8.52% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 647,582 shares of company stock worth $69,753,955. 6.30% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Charles Schwab

A number of large investors have recently made changes to their positions in SCHW. USS Investment Management Ltd lifted its holdings in Charles Schwab by 4.6% during the 1st quarter. USS Investment Management Ltd now owns 288,035 shares of the financial services provider’s stock valued at $27,068,000 after buying an additional 12,789 shares in the last quarter. Whittier Trust Co. grew its stake in Charles Schwab by 3.9% in the first quarter. Whittier Trust Co. now owns 384,881 shares of the financial services provider’s stock worth $35,790,000 after purchasing an additional 14,538 shares in the last quarter. Financial Advisory Partners LLC bought a new stake in Charles Schwab during the 1st quarter valued at $3,199,000. Patriot Financial Group Insurance Agency LLC grew its position in shares of Charles Schwab by 112.0% during the 1st quarter. Patriot Financial Group Insurance Agency LLC now owns 89,498 shares of the financial services provider’s stock worth $8,411,000 after buying an additional 47,281 shares in the last quarter. Finally, Private Wealth Partners LLC raised its holdings in shares of Charles Schwab by 91.9% in the first quarter. Private Wealth Partners LLC now owns 204,248 shares of the financial services provider’s stock valued at $19,195,000 after acquiring an additional 97,829 shares in the last quarter. 84.38% of the stock is currently owned by institutional investors.

Charles Schwab Company Profile

Charles Schwab Corporation (NYSE:SCHW) is a financial services company that provides brokerage, investment, banking and wealth management services to individual investors, employers, institutions and independent investment advisors. Its offerings include online and mobile trading, securities brokerage, retirement accounts, financial planning, portfolio management, banking products, research and access to mutual funds and exchange-traded funds.

The company operates through businesses including Schwab Brokerage, Schwab Wealth Advisory, Schwab Asset Management and Charles Schwab Bank.