Charles Schwab (NYSE:SCHW) Price Target Raised to $120.00 at Citizens Jmp

Charles Schwab (NYSE:SCHW) had its target price boosted by stock analysts at Citizens Jmp from $110.00 to $120.00 in a research report issued on Monday,Benzinga reports. The brokerage currently has a “market outperform” rating on the financial services provider’s stock. Citizens Jmp’s price target suggests a potential upside of 19.78% from the company’s previous close.

Several other brokerages also recently weighed in on SCHW. Bank of America lifted their target price on shares of Charles Schwab from $88.00 to $91.00 and gave the company an “underperform” rating in a report on Wednesday, December 10th. Barclays lifted their price objective on Charles Schwab from $111.00 to $120.00 and gave the stock an “overweight” rating in a research report on Thursday. JPMorgan Chase & Co. boosted their price target on Charles Schwab from $119.00 to $121.00 and gave the stock an “overweight” rating in a report on Monday, October 20th. Piper Sandler reissued a “neutral” rating on shares of Charles Schwab in a research note on Tuesday, October 14th. Finally, Morgan Stanley lifted their price target on shares of Charles Schwab from $139.00 to $148.00 and gave the stock an “overweight” rating in a report on Monday, December 22nd. One analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, Charles Schwab has an average rating of “Moderate Buy” and an average price target of $111.67.

Charles Schwab Stock Down 1.1%

Shares of SCHW stock opened at $100.19 on Monday. The stock’s 50-day simple moving average is $96.33 and its 200-day simple moving average is $95.14. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.58 and a current ratio of 0.58. The firm has a market capitalization of $178.03 billion, a PE ratio of 23.46, a P/E/G ratio of 0.70 and a beta of 0.94. Charles Schwab has a fifty-two week low of $65.88 and a fifty-two week high of $104.76.

Charles Schwab (NYSE:SCHW) last issued its quarterly earnings results on Thursday, October 16th. The financial services provider reported $1.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.25 by $0.06. The firm had revenue of $6.38 billion for the quarter, compared to analyst estimates of $5.93 billion. Charles Schwab had a return on equity of 21.02% and a net margin of 35.93%.The business’s revenue was up 26.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.71 earnings per share. Equities analysts expect that Charles Schwab will post 4.22 earnings per share for the current year.

Insider Activity

In other news, insider Jonathan S. Beatty sold 3,072 shares of the stock in a transaction on Wednesday, November 12th. The stock was sold at an average price of $98.00, for a total value of $301,056.00. Following the completion of the transaction, the insider owned 11,923 shares of the company’s stock, valued at approximately $1,168,454. This represents a 20.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 6.30% of the company’s stock.

Institutional Investors Weigh In On Charles Schwab

Several large investors have recently modified their holdings of the stock. Norges Bank purchased a new position in Charles Schwab in the 2nd quarter worth about $1,889,858,000. Brown Advisory Inc. increased its position in shares of Charles Schwab by 88.4% in the second quarter. Brown Advisory Inc. now owns 12,162,260 shares of the financial services provider’s stock worth $1,109,687,000 after acquiring an additional 5,708,208 shares in the last quarter. Primecap Management Co. CA increased its position in shares of Charles Schwab by 35.9% in the second quarter. Primecap Management Co. CA now owns 19,034,806 shares of the financial services provider’s stock worth $1,736,736,000 after acquiring an additional 5,032,728 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Charles Schwab by 28.3% during the second quarter. Bank of New York Mellon Corp now owns 14,182,132 shares of the financial services provider’s stock valued at $1,293,978,000 after acquiring an additional 3,125,179 shares during the period. Finally, Vanguard Group Inc. lifted its position in shares of Charles Schwab by 1.9% in the 2nd quarter. Vanguard Group Inc. now owns 151,182,081 shares of the financial services provider’s stock valued at $13,793,853,000 after acquiring an additional 2,786,829 shares in the last quarter. 84.38% of the stock is owned by institutional investors.

About Charles Schwab

Charles Schwab Corporation (NYSE: SCHW) is a diversified financial services firm that provides brokerage, banking, wealth management and advisory services to individual investors, independent investment advisors and institutional clients. Its primary offerings include retail brokerage accounts, online trading platforms, Schwab-branded mutual funds and exchange-traded funds (ETFs), retirement plan services, custodial services for independent Registered Investment Advisors (RIAs), and banking products through Charles Schwab Bank.