Keefe, Bruyette & Woods lowered shares of Charles Schwab (NYSE:SCHW) from an outperform rating to a market perform rating in a research report released on Friday morning, BenzingaRatingsTable reports. The firm currently has $43.50 target price on the financial services provider’s stock, down from their prior target price of $51.00.

Other equities research analysts have also issued reports about the stock. Morgan Stanley increased their target price on shares of Visa from $175.00 to $191.00 and gave the stock an overweight rating in a report on Thursday, July 11th. Bank of America set a $180.00 target price on shares of CME Group and gave the stock a hold rating in a report on Tuesday, April 9th. JPMorgan Chase & Co. set a $44.00 target price on shares of Charles Schwab and gave the stock a buy rating in a report on Friday, June 21st. Wells Fargo & Co reiterated a hold rating on shares of AON in a report on Friday, April 5th. Finally, ValuEngine lowered shares of Virtu Financial from a hold rating to a sell rating in a report on Tuesday, June 18th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have issued a buy rating to the company’s stock. The company has an average rating of Hold and a consensus target price of $48.53.

Shares of SCHW stock opened at $40.30 on Friday. The business has a 50 day moving average of $41.25. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.33 and a current ratio of 0.33. Charles Schwab has a one year low of $37.83 and a one year high of $54.26. The firm has a market cap of $53.38 billion, a price-to-earnings ratio of 16.45, a P/E/G ratio of 1.90 and a beta of 1.24.

Charles Schwab (NYSE:SCHW) last issued its quarterly earnings data on Monday, April 15th. The financial services provider reported $0.69 EPS for the quarter, topping the consensus estimate of $0.66 by $0.03. Charles Schwab had a net margin of 35.27% and a return on equity of 20.47%. The firm had revenue of $2.72 billion for the quarter, compared to analyst estimates of $2.67 billion. During the same period in the prior year, the business posted $0.55 EPS. The business’s revenue for the quarter was up 13.6% compared to the same quarter last year. Analysts forecast that Charles Schwab will post 2.69 EPS for the current fiscal year.

In other news, Chairman Charles R. Schwab sold 250,000 shares of the firm’s stock in a transaction on Monday, April 22nd. The shares were sold at an average price of $45.29, for a total value of $11,322,500.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Charles A. Ruffel acquired 2,500 shares of Charles Schwab stock in a transaction dated Friday, May 3rd. The stock was purchased at an average price of $46.10 per share, for a total transaction of $115,250.00. Following the completion of the acquisition, the director now directly owns 788 shares in the company, valued at approximately $36,326.80. The disclosure for this purchase can be found here. Insiders sold a total of 837,576 shares of company stock worth $38,210,674 over the last 90 days. Company insiders own 10.90% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in SCHW. Norges Bank acquired a new stake in shares of Charles Schwab in the 4th quarter valued at $443,292,000. Harris Associates L P grew its position in shares of Charles Schwab by 197.1% in the 4th quarter. Harris Associates L P now owns 13,940,097 shares of the financial services provider’s stock valued at $578,932,000 after buying an additional 9,248,471 shares during the last quarter. APG Asset Management N.V. grew its position in shares of Charles Schwab by 1,183.6% in the 4th quarter. APG Asset Management N.V. now owns 3,287,200 shares of the financial services provider’s stock valued at $119,422,000 after buying an additional 3,031,100 shares during the last quarter. Clearbridge Investments LLC grew its position in shares of Charles Schwab by 24.0% in the 1st quarter. Clearbridge Investments LLC now owns 14,863,818 shares of the financial services provider’s stock valued at $635,577,000 after buying an additional 2,880,846 shares during the last quarter. Finally, Vaughan Nelson Investment Management L.P. purchased a new position in shares of Charles Schwab in the 1st quarter valued at $77,259,000. Institutional investors and hedge funds own 78.70% of the company’s stock.

Charles Schwab Company Profile

The Charles Schwab Corporation, through its subsidiaries, provides wealth management, securities brokerage, banking, asset management, custody, and financial advisory services. The company operates through two segments, Investor Services and Advisor Services. The Investor Services segment provides retail brokerage and banking services, retirement plan services, and other corporate brokerage services; equity compensation plan sponsors full-service recordkeeping for stock plans, stock options, restricted stock, performance shares, and stock appreciation rights; and retail investor, retirement plan, and mutual fund clearing services.

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Analyst Recommendations for Charles Schwab (NYSE:SCHW)

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