Barclays Lowers Charles Schwab (NYSE:SCHW) Price Target to $84.00

Charles Schwab (NYSE:SCHW - Free Report) had its target price decreased by Barclays from $96.00 to $84.00 in a research report report published on Monday,Benzinga reports. Barclays currently has an overweight rating on the financial services provider's stock.

Other equities research analysts have also issued reports about the stock. TD Cowen upgraded shares of Charles Schwab from a "hold" rating to a "buy" rating and lifted their price target for the stock from $88.00 to $103.00 in a research note on Tuesday, February 18th. Keefe, Bruyette & Woods boosted their target price on Charles Schwab from $81.00 to $93.00 and gave the company an "outperform" rating in a report on Friday, December 20th. Wells Fargo & Company upgraded Charles Schwab from an "equal weight" rating to an "overweight" rating and raised their price target for the stock from $89.00 to $93.00 in a research note on Wednesday, January 22nd. Deutsche Bank Aktiengesellschaft boosted their price objective on Charles Schwab from $98.00 to $105.00 and gave the company a "buy" rating in a research note on Wednesday, January 22nd. Finally, Truist Financial lowered their target price on shares of Charles Schwab from $91.00 to $85.00 and set a "buy" rating on the stock in a research report on Friday, April 4th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and twelve have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Charles Schwab presently has an average rating of "Moderate Buy" and a consensus price target of $85.33.

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Charles Schwab Stock Up 4.2 %

Shares of NYSE:SCHW traded up $3.12 during trading hours on Monday, reaching $76.97. The stock had a trading volume of 14,847,290 shares, compared to its average volume of 9,284,845. The stock has a market capitalization of $139.59 billion, a price-to-earnings ratio of 25.74, a P/E/G ratio of 0.99 and a beta of 0.91. The firm's 50 day moving average is $77.77 and its 200-day moving average is $76.14. Charles Schwab has a 1 year low of $61.01 and a 1 year high of $84.50. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.47 and a current ratio of 0.47.

Charles Schwab (NYSE:SCHW - Get Free Report) last posted its quarterly earnings results on Tuesday, January 21st. The financial services provider reported $1.01 earnings per share for the quarter, beating analysts' consensus estimates of $0.90 by $0.11. Charles Schwab had a return on equity of 18.20% and a net margin of 30.31%. The company had revenue of $5.33 billion for the quarter, compared to analysts' expectations of $5.19 billion. During the same period last year, the firm earned $0.68 earnings per share. Charles Schwab's quarterly revenue was up 19.5% on a year-over-year basis. Research analysts predict that Charles Schwab will post 4.22 earnings per share for the current fiscal year.

Charles Schwab Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 14th were given a $0.27 dividend. This is an increase from Charles Schwab's previous quarterly dividend of $0.25. This represents a $1.08 annualized dividend and a dividend yield of 1.40%. The ex-dividend date of this dividend was Friday, February 14th. Charles Schwab's dividend payout ratio is currently 36.12%.

Insider Buying and Selling

In other news, Chairman Walter W. Bettinger sold 464,629 shares of the firm's stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $81.91, for a total transaction of $38,057,761.39. Following the sale, the chairman now owns 827,377 shares in the company, valued at $67,770,450.07. This trade represents a 35.96 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Arun Sarin sold 8,548 shares of the stock in a transaction dated Thursday, January 23rd. The stock was sold at an average price of $81.82, for a total transaction of $699,397.36. Following the transaction, the director now owns 18,617 shares in the company, valued at approximately $1,523,242.94. The trade was a 31.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 513,081 shares of company stock worth $41,903,066. 6.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Charles Schwab

Several institutional investors and hedge funds have recently modified their holdings of SCHW. Vanguard Group Inc. lifted its holdings in Charles Schwab by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 128,578,230 shares of the financial services provider's stock worth $9,516,075,000 after buying an additional 1,187,384 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Charles Schwab by 2.5% in the fourth quarter. Geode Capital Management LLC now owns 30,901,484 shares of the financial services provider's stock worth $2,279,742,000 after purchasing an additional 760,043 shares during the period. Franklin Resources Inc. increased its stake in Charles Schwab by 15.0% during the third quarter. Franklin Resources Inc. now owns 24,261,234 shares of the financial services provider's stock valued at $1,644,674,000 after purchasing an additional 3,157,923 shares during the last quarter. Fisher Asset Management LLC raised its holdings in shares of Charles Schwab by 1.3% during the fourth quarter. Fisher Asset Management LLC now owns 20,455,266 shares of the financial services provider's stock worth $1,513,894,000 after purchasing an additional 265,708 shares during the period. Finally, Norges Bank bought a new position in shares of Charles Schwab in the 4th quarter worth about $1,289,544,000. Hedge funds and other institutional investors own 84.38% of the company's stock.

Charles Schwab Company Profile

The Charles Schwab Corporation, together with its subsidiaries, operates as a savings and loan holding company that provides wealth management, securities brokerage, banking, asset management, custody, and financial advisory services in the United States and internationally. The company operates in two segments, Investor Services and Advisor Services.