Citigroup Cuts Charles Schwab (NYSE:SCHW) Price Target to $80.00

Charles Schwab (NYSE:SCHW - Free Report) had its target price trimmed by Citigroup from $85.00 to $80.00 in a research report released on Friday morning,Benzinga reports. The firm currently has a neutral rating on the financial services provider's stock.

Other equities analysts have also recently issued reports about the stock. StockNews.com raised shares of Charles Schwab from a "sell" rating to a "hold" rating in a report on Wednesday, October 16th. Morgan Stanley increased their price objective on Charles Schwab from $68.00 to $74.00 and gave the stock an "equal weight" rating in a research report on Thursday, October 24th. Wells Fargo & Company boosted their price target on Charles Schwab from $75.00 to $90.00 and gave the stock an "equal weight" rating in a research note on Thursday, December 12th. Barclays upgraded shares of Charles Schwab from an "equal weight" rating to an "overweight" rating and raised their target price for the company from $74.00 to $95.00 in a report on Monday, December 9th. Finally, Raymond James dropped their price objective on Charles Schwab from $76.00 to $73.00 in a research report on Tuesday, October 15th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $81.69.

Charles Schwab Trading Down 0.3 %

Shares of SCHW stock traded down $0.21 on Friday, hitting $72.79. The stock had a trading volume of 10,866,005 shares, compared to its average volume of 8,482,011. The company's 50 day moving average price is $77.57 and its 200-day moving average price is $70.64. Charles Schwab has a 1 year low of $59.67 and a 1 year high of $83.35. The firm has a market capitalization of $129.54 billion, a P/E ratio of 28.43, a P/E/G ratio of 1.76 and a beta of 0.99. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.47 and a quick ratio of 0.47.

Charles Schwab (NYSE:SCHW - Get Free Report) last issued its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $0.77 earnings per share for the quarter, topping the consensus estimate of $0.75 by $0.02. Charles Schwab had a return on equity of 16.92% and a net margin of 27.47%. The company had revenue of $4.85 billion for the quarter, compared to the consensus estimate of $4.78 billion. During the same quarter in the prior year, the business earned $0.77 EPS. Charles Schwab's revenue was up 5.2% on a year-over-year basis. Analysts anticipate that Charles Schwab will post 3.12 earnings per share for the current year.

Charles Schwab Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Friday, November 8th were issued a $0.25 dividend. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.37%. Charles Schwab's dividend payout ratio (DPR) is presently 39.06%.

Insider Buying and Selling at Charles Schwab

In other Charles Schwab news, Director Carolyn Schwab-Pomerantz sold 29,800 shares of the company's stock in a transaction that occurred on Thursday, October 17th. The stock was sold at an average price of $72.16, for a total value of $2,150,368.00. Following the completion of the sale, the director now directly owns 551,329 shares in the company, valued at $39,783,900.64. This represents a 5.13 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Chairman Charles R. Schwab sold 62,345 shares of the business's stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $72.52, for a total value of $4,521,259.40. Following the completion of the sale, the chairman now directly owns 60,619,371 shares in the company, valued at $4,396,116,784.92. This represents a 0.10 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 118,968 shares of company stock worth $8,842,821. 6.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On Charles Schwab

Several hedge funds have recently bought and sold shares of SCHW. Benjamin Edwards Inc. raised its stake in shares of Charles Schwab by 2,840.7% during the 3rd quarter. Benjamin Edwards Inc. now owns 6,146 shares of the financial services provider's stock worth $398,000 after purchasing an additional 5,937 shares in the last quarter. Synovus Financial Corp raised its position in Charles Schwab by 46.0% during the third quarter. Synovus Financial Corp now owns 67,889 shares of the financial services provider's stock valued at $4,400,000 after acquiring an additional 21,377 shares in the last quarter. Patten & Patten Inc. TN lifted its stake in Charles Schwab by 155.9% in the third quarter. Patten & Patten Inc. TN now owns 104,168 shares of the financial services provider's stock valued at $6,751,000 after acquiring an additional 63,463 shares during the last quarter. Equity Investment Corp grew its position in Charles Schwab by 9.4% in the third quarter. Equity Investment Corp now owns 1,640,157 shares of the financial services provider's stock worth $106,299,000 after acquiring an additional 140,643 shares in the last quarter. Finally, Teewinot Capital Advisers L.L.C. increased its stake in shares of Charles Schwab by 9.0% during the 2nd quarter. Teewinot Capital Advisers L.L.C. now owns 775,161 shares of the financial services provider's stock worth $57,122,000 after purchasing an additional 64,041 shares during the last quarter. 84.38% of the stock is owned by hedge funds and other institutional investors.

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.