The Charles Schwab Corporation (NYSE:SCHW)‘s stock had its “buy” rating reissued by research analysts at Argus in a research note issued to investors on Friday, July 21st. They presently have a $48.00 price target on the financial services provider’s stock, up from their previous price target of $46.00. Argus’ price target would suggest a potential upside of 21.00% from the company’s current price.
SCHW has been the subject of a number of other reports. Instinet reissued a “conviction-buy” rating and issued a $46.00 target price (up from $44.00) on shares of The Charles Schwab Corporation in a research report on Friday, April 14th. Jefferies Group LLC reaffirmed a “buy” rating and set a $48.00 price objective 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 set a $48.00 target price (up from $45.00) on shares of The Charles Schwab Corporation in a research note on Monday, July 10th. Finally, Wells Fargo & Company reissued a “market perform” rating and set a $44.00 target price (up from $42.00) on shares of The Charles Schwab Corporation in a research note on Monday, June 12th. One analyst has rated the stock with a sell rating, seven have given a hold rating and twelve have issued a buy rating to the company. The Charles Schwab Corporation has a consensus rating of “Buy” and a consensus price target of $44.00.
Shares of The Charles Schwab Corporation (SCHW) traded down 2.63% during trading on Friday, reaching $39.67. The company’s stock had a trading volume of 6,261,432 shares. The Charles Schwab Corporation has a 12-month low of $29.86 and a 12-month high of $44.10. The stock has a market capitalization of $53.12 billion, a PE ratio of 26.62 and a beta of 1.63. The firm’s 50-day moving average is $42.59 and its 200-day moving average is $41.00.
The Charles Schwab Corporation (NYSE:SCHW) last released its quarterly earnings data on Tuesday, July 18th. The financial services provider reported $0.39 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.39. The business had revenue of $2.13 billion during the quarter, compared to analysts’ expectations of $2.13 billion. The Charles Schwab Corporation had a return on equity of 15.41% and a net margin of 26.73%. The business’s quarterly revenue was up 16.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.30 EPS. Equities analysts expect that The Charles Schwab Corporation will post $1.61 earnings per share for the current year.
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In related news, Chairman Charles R. Schwab sold 26,000 shares of the stock in a transaction dated Monday, July 31st. The shares were sold at an average price of $42.80, for a total value of $1,112,800.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Marie A. Chandoha sold 7,002 shares of the company’s stock in a transaction dated Wednesday, August 9th. The stock was sold at an average price of $41.96, for a total transaction of $293,803.92. The disclosure for this sale can be found here. Insiders have sold 924,122 shares of company stock valued at $39,694,987 in the last ninety days. 12.00% of the stock is owned by company insiders.
Hedge funds have recently modified their holdings of the company. First Manhattan Co. boosted its stake in The Charles Schwab Corporation by 395.9% in the first quarter. First Manhattan Co. now owns 1,252,265 shares of the financial services provider’s stock valued at $39,534,000 after buying an additional 999,750 shares during the period. 1ST Source Bank boosted its position in shares of The Charles Schwab Corporation by 65.7% in the first quarter. 1ST Source Bank now owns 52,583 shares of the financial services provider’s stock worth $2,146,000 after buying an additional 20,847 shares during the last quarter. Wealthfront Inc. boosted its position in shares of The Charles Schwab Corporation by 6.7% in the fourth quarter. Wealthfront Inc. now owns 28,761 shares of the financial services provider’s stock worth $1,135,000 after buying an additional 1,813 shares during the last quarter. Quadrature Capital Ltd boosted its position in shares of The Charles Schwab Corporation by 339.8% in the fourth quarter. Quadrature Capital Ltd now owns 512,425 shares of the financial services provider’s stock worth $20,231,000 after buying an additional 395,924 shares during the last quarter. Finally, Perigon Wealth Management LLC boosted its position in shares of The Charles Schwab Corporation by 58.7% in the fourth quarter. Perigon Wealth Management LLC now owns 16,470 shares of the financial services provider’s stock worth $699,000 after buying an additional 6,090 shares during the last quarter. 79.45% of the stock is currently owned by hedge funds and other institutional investors.
The Charles Schwab Corporation Company Profile
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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