Charles Schwab (NYSE:SCHW) Given New $87.00 Price Target at Wells Fargo & Company

Charles Schwab (NYSE:SCHW - Get Free Report) had its target price decreased by equities research analysts at Wells Fargo & Company from $93.00 to $87.00 in a note issued to investors on Tuesday,Benzinga reports. The firm currently has an "overweight" rating on the financial services provider's stock. Wells Fargo & Company's price objective suggests a potential upside of 13.03% from the company's current price.

A number of other equities analysts have also recently commented on SCHW. JMP Securities decreased their price target on Charles Schwab from $96.00 to $94.00 and set a "market outperform" rating on the stock in a research note on Tuesday, April 8th. Keefe, Bruyette & Woods raised their target price on Charles Schwab from $81.00 to $93.00 and gave the stock an "outperform" rating in a research note on Friday, December 20th. Piper Sandler dropped their price target on Charles Schwab from $78.00 to $74.00 and set a "neutral" rating for the company in a research note on Tuesday, April 8th. Barclays decreased their price target on shares of Charles Schwab from $96.00 to $84.00 and set an "overweight" rating for the company in a research note on Monday, April 7th. Finally, Jefferies Financial Group raised their target price on Charles Schwab from $84.00 to $94.00 and gave the company a "buy" rating in a research note on Monday, December 9th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the stock currently 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 midday trading on Tuesday, hitting $76.97. 14,847,290 shares of the company's stock were exchanged, compared to its average volume of 9,287,524. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.47 and a quick ratio of 0.47. The stock has a 50 day moving average price of $77.77 and a 200-day moving average price of $76.14. The company has a market cap of $139.59 billion, a PE ratio of 25.74, a price-to-earnings-growth ratio of 0.99 and a beta of 0.91. Charles Schwab has a 12 month low of $61.01 and a 12 month high of $84.50.

Charles Schwab (NYSE:SCHW - Get Free Report) last released its 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. The firm had revenue of $5.33 billion for the quarter, compared to analysts' expectations of $5.19 billion. Charles Schwab had a net margin of 30.31% and a return on equity of 18.20%. The company's quarterly revenue was up 19.5% on a year-over-year basis. During the same period in the previous year, the company earned $0.68 earnings per share. On average, sell-side analysts anticipate that Charles Schwab will post 4.22 EPS for the current fiscal year.

Insider Buying and Selling at Charles Schwab

In other Charles Schwab news, Chairman Walter W. Bettinger sold 464,629 shares of the firm's stock in a transaction on Wednesday, February 12th. The shares were sold at an average price of $81.91, for a total transaction of $38,057,761.39. Following the transaction, the chairman now directly owns 827,377 shares of the company's stock, valued at approximately $67,770,450.07. This trade represents a 35.96 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Paul V. Woolway sold 3,380 shares of the company's stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $77.43, for a total value of $261,713.40. Following the sale, the insider now directly owns 45,824 shares of the company's stock, valued at approximately $3,548,152.32. This represents a 6.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 513,081 shares of company stock worth $41,903,066 over the last quarter. 6.60% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Gateway Investment Advisers LLC boosted its position in Charles Schwab by 1.3% during the first quarter. Gateway Investment Advisers LLC now owns 380,920 shares of the financial services provider's stock worth $29,818,000 after acquiring an additional 5,064 shares during the last quarter. Hudson Valley Investment Advisors Inc. ADV lifted its stake in shares of Charles Schwab by 6.8% during the first quarter. Hudson Valley Investment Advisors Inc. ADV now owns 62,087 shares of the financial services provider's stock worth $4,860,000 after purchasing an additional 3,974 shares in the last quarter. DHK Financial Advisors Inc. purchased a new stake in shares of Charles Schwab during the first quarter valued at approximately $202,000. Procyon Advisors LLC grew its stake in Charles Schwab by 35.5% during the 1st quarter. Procyon Advisors LLC now owns 6,567 shares of the financial services provider's stock valued at $514,000 after purchasing an additional 1,719 shares in the last quarter. Finally, Magnus Financial Group LLC acquired a new stake in shares of Charles Schwab during the first quarter worth approximately $211,000. 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.