Charles Schwab (SCHW) Upgraded at Zacks Investment Research
Charles Schwab (NYSE:SCHW) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Friday. The brokerage presently has a $60.00 target price on the financial services provider’s stock. Zacks Investment Research‘s price objective points to a potential upside of 15.36% from the stock’s current price.
According to Zacks, “Schwab’s shares have outperformed the industry in the past six months. The performance was supported by impressive earnings surprise history, as the company did not lag the Zacks Consensus Estimate in any of the trailing four quarters. The company remains well positioned to gain from the rising rate environment. Also, initiatives to strengthen trading income are likely to support its profitability in the long run despite the near-term reduction in the same. While continuous rise in expenses (due to rise in compensation costs) remains a key concern for the company, the benefits from tax act will aid financials.”
A number of other equities research analysts have also recently weighed in on SCHW. Barclays initiated coverage on shares of Charles Schwab in a research report on Friday, September 8th. They set an “overweight” rating and a $48.00 price target for the company. BidaskClub cut shares of Charles Schwab from a “sell” rating to a “strong sell” rating in a research report on Friday, September 8th. Jefferies Group restated a “buy” rating and issued a $49.00 price objective on shares of Charles Schwab in a report on Friday, September 15th. Keefe, Bruyette & Woods restated a “buy” rating and issued a $47.00 price objective on shares of Charles Schwab in a report on Friday, September 15th. Finally, Morgan Stanley lifted their price objective on shares of Charles Schwab from $51.00 to $53.00 and gave the company an “overweight” rating in a report on Thursday, October 5th. Seven equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. Charles Schwab presently has a consensus rating of “Buy” and an average price target of $50.38.
Shares of Charles Schwab (NYSE SCHW) opened at $52.01 on Friday. Charles Schwab has a 12-month low of $37.16 and a 12-month high of $52.52. The firm has a market cap of $69,650.00, a PE ratio of 33.34, a price-to-earnings-growth ratio of 1.33 and a beta of 1.75. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.30 and a current ratio of 0.31.
Charles Schwab (NYSE:SCHW) last announced its quarterly earnings results on Wednesday, October 18th. The financial services provider reported $0.42 earnings per share for the quarter, beating analysts’ consensus estimates of $0.41 by $0.01. Charles Schwab had a net margin of 27.30% and a return on equity of 15.77%. The business had revenue of $2.17 billion during the quarter, compared to analysts’ expectations of $2.18 billion. During the same period last year, the business earned $0.35 earnings per share. The business’s revenue for the quarter was up 13.1% on a year-over-year basis. equities research analysts anticipate that Charles Schwab will post 1.61 EPS for the current year.
In other Charles Schwab news, CFO Peter B. Crawford sold 1,063 shares of the business’s stock in a transaction that occurred on Monday, November 6th. The shares were sold at an average price of $44.64, for a total transaction of $47,452.32. Following the completion of the transaction, the chief financial officer now owns 11,302 shares in the company, valued at approximately $504,521.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Charles R. Schwab sold 350,000 shares of the business’s stock in a transaction that occurred on Thursday, November 16th. The stock was sold at an average price of $44.65, for a total transaction of $15,627,500.00. The disclosure for this sale can be found here. Insiders sold 1,658,531 shares of company stock valued at $77,397,901 in the last 90 days. Company insiders own 12.00% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Fiduciary Trust Co. acquired a new position in Charles Schwab during the 2nd quarter worth approximately $163,000. Zions Bancorporation lifted its position in shares of Charles Schwab by 1,545.3% during the 3rd quarter. Zions Bancorporation now owns 3,817 shares of the financial services provider’s stock worth $167,000 after buying an additional 3,585 shares during the last quarter. Quadrant Capital Group LLC lifted its position in shares of Charles Schwab by 31.4% during the 2nd quarter. Quadrant Capital Group LLC now owns 4,531 shares of the financial services provider’s stock worth $168,000 after buying an additional 1,082 shares during the last quarter. Frontier Wealth Management LLC purchased a new stake in shares of Charles Schwab during the 2nd quarter worth approximately $210,000. Finally, Institute for Wealth Management LLC. purchased a new stake in shares of Charles Schwab during the 2nd quarter worth approximately $222,000. Institutional investors own 79.55% of the company’s stock.
About Charles Schwab
The Charles Schwab Corporation (CSC) is a savings and loan holding company. The Company, through its subsidiaries, engages in wealth management, securities brokerage, banking, money management and financial advisory services. The Company provides financial services to individuals and institutional clients through two segments: Investor Services and Advisor Services.
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