The Charles Schwab Corporation (NYSE:SCHW)‘s stock had its “buy” rating reiterated by equities researchers at Argus in a research note issued to investors on Friday. They currently have a $48.00 price objective on the financial services provider’s stock, up from their prior price objective of $46.00. Argus’ target price points to a potential upside of 13.88% from the company’s previous close.
SCHW has been the subject of several other research reports. Instinet reissued a “conviction-buy” rating and issued a $46.00 target price (up previously from $44.00) on shares of The Charles Schwab Corporation in a research report on Friday, April 14th. Jefferies Group LLC reissued a “buy” rating and issued a $48.00 target price on shares of The Charles Schwab Corporation in a research report on Wednesday, May 31st. BidaskClub raised The Charles Schwab Corporation from a “hold” rating to a “buy” rating in a research report on Tuesday, June 13th. Morgan Stanley reissued an “overweight” rating and issued a $48.00 target price (up previously from $45.00) on shares of The Charles Schwab Corporation in a research report on Monday, July 10th. Finally, Wells Fargo & Company reissued a “market perform” rating and issued a $44.00 target price (up previously from $42.00) on shares of The Charles Schwab Corporation in a research report on Monday, June 12th. Six investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. The Charles Schwab Corporation has a consensus rating of “Buy” and an average price target of $44.00.
Shares of The Charles Schwab Corporation (NYSE SCHW) opened at 42.15 on Friday. The company has a market cap of $56.36 billion, a P/E ratio of 29.89 and a beta of 1.64. The stock’s 50 day moving average price is $41.99 and its 200 day moving average price is $40.89. The Charles Schwab Corporation has a 12-month low of $27.71 and a 12-month high of $44.10.
The Charles Schwab Corporation (NYSE:SCHW) last announced its earnings results on Tuesday, July 18th. The financial services provider reported $0.39 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.39. The Charles Schwab Corporation had a return on equity of 15.69% and a net margin of 26.73%. The firm had revenue of $2.13 billion during the quarter, compared to analyst estimates of $2.13 billion. During the same quarter in the prior year, the company earned $0.30 EPS. The business’s revenue was up 16.5% compared to the same quarter last year. On average, analysts forecast that The Charles Schwab Corporation will post $1.62 EPS for the current year.
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In other news, EVP Joseph R. Martinetto sold 115,642 shares of the firm’s stock in a transaction on Thursday, July 20th. The stock was sold at an average price of $42.10, for a total value of $4,868,528.20. Following the transaction, the executive vice president now directly owns 210,868 shares in the company, valued at approximately $8,877,542.80. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Joseph R. Martinetto sold 89,330 shares of the firm’s stock in a transaction on Wednesday, July 19th. The stock was sold at an average price of $42.51, for a total value of $3,797,418.30. Following the completion of the transaction, the executive vice president now owns 207,961 shares in the company, valued at $8,840,422.11. The disclosure for this sale can be found here. In the last three months, insiders sold 531,854 shares of company stock valued at $21,848,622. Corporate insiders own 12.00% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in the company. WealthTrust Arizona LLC increased its position in The Charles Schwab Corporation by 1.2% in the second quarter. WealthTrust Arizona LLC now owns 2,466 shares of the financial services provider’s stock worth $106,000 after buying an additional 29 shares during the period. Pinnacle Bank purchased a new position in The Charles Schwab Corporation during the first quarter worth about $119,000. First Bank & Trust increased its position in The Charles Schwab Corporation by 3.6% in the first quarter. First Bank & Trust now owns 3,125 shares of the financial services provider’s stock worth $128,000 after buying an additional 109 shares during the period. YorkBridge Wealth Partners LLC increased its position in The Charles Schwab Corporation by 9.6% in the first quarter. YorkBridge Wealth Partners LLC now owns 3,267 shares of the financial services provider’s stock worth $131,000 after buying an additional 287 shares during the period. Finally, Quadrant Capital Group LLC increased its position in The Charles Schwab Corporation by 6.4% in the first quarter. Quadrant Capital Group LLC now owns 3,449 shares of the financial services provider’s stock worth $133,000 after buying an additional 207 shares during the period. Hedge funds and other institutional investors own 79.02% of the company’s stock.
About The Charles Schwab Corporation
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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