Charles Schwab (NYSE:SCHW) Upgraded to Buy at Citigroup

Citigroup upgraded shares of Charles Schwab (NYSE:SCHW - Free Report) from a neutral rating to a buy rating in a report published on Wednesday morning, Marketbeat reports. The firm currently has $102.00 target price on the financial services provider's stock, up from their prior target price of $85.00.

SCHW has been the topic of a number of other reports. Jefferies Financial Group lifted their price target on Charles Schwab from $84.00 to $94.00 and gave the company a "buy" rating in a report on Monday, December 9th. Piper Sandler boosted their price objective on shares of Charles Schwab from $65.00 to $70.00 and gave the stock a "neutral" rating in a research note on Tuesday, January 7th. TD Cowen upgraded shares of Charles Schwab from a "hold" rating to a "buy" rating and raised their target price for the company from $88.00 to $103.00 in a research note on Tuesday, February 18th. Keefe, Bruyette & Woods upped their price target on Charles Schwab from $81.00 to $93.00 and gave the stock an "outperform" rating in a research report on Friday, December 20th. Finally, Barclays increased their price objective on Charles Schwab from $95.00 to $96.00 and gave the company an "overweight" rating in a report on Wednesday, January 22nd. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and eleven have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Charles Schwab currently has an average rating of "Moderate Buy" and an average price target of $86.28.

Charles Schwab Trading Down 0.7 %

Charles Schwab stock traded down $0.51 during trading hours on Wednesday, hitting $68.55. The company had a trading volume of 8,684,430 shares, compared to its average volume of 9,027,706. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.47 and a current ratio of 0.47. The firm has a market cap of $124.31 billion, a P/E ratio of 22.92, a P/E/G ratio of 0.99 and a beta of 0.91. The company has a 50-day moving average price of $79.09 and a two-hundred day moving average price of $75.90. Charles Schwab has a 1 year low of $61.01 and a 1 year high of $84.50.

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

Charles Schwab Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 14th were issued a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 1.58%. This is a positive change from Charles Schwab's previous quarterly dividend of $0.25. The ex-dividend date was Friday, February 14th. Charles Schwab's dividend payout ratio (DPR) is 36.12%.

Insider Buying and Selling at Charles Schwab

In other Charles Schwab news, insider Paul V. Woolway sold 3,380 shares of the firm's stock in a transaction that occurred on Tuesday, April 1st. The stock was 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 trade represents a 6.87 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel Peter J. Morgan III sold 14,643 shares of the company's stock in a transaction that occurred on Wednesday, January 22nd. The stock was sold at an average price of $80.70, for a total value of $1,181,690.10. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 513,081 shares of company stock valued at $41,903,066. 6.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On Charles Schwab

A number of large investors have recently added to or reduced their stakes in the stock. Principal Financial Group Inc. boosted its holdings in Charles Schwab by 0.6% in the 3rd quarter. Principal Financial Group Inc. now owns 6,673,901 shares of the financial services provider's stock worth $432,536,000 after buying an additional 38,201 shares during the last quarter. United Bank lifted its holdings in Charles Schwab by 13.0% in the 3rd quarter. United Bank now owns 11,352 shares of the financial services provider's stock valued at $736,000 after purchasing an additional 1,309 shares in the last quarter. Kestra Investment Management LLC acquired a new stake in Charles Schwab during the 3rd quarter worth $202,000. Benjamin Edwards Inc. grew its holdings in shares of Charles Schwab by 2,840.7% during the third quarter. Benjamin Edwards Inc. now owns 6,146 shares of the financial services provider's stock worth $398,000 after buying an additional 5,937 shares in the last quarter. Finally, Hilltop Holdings Inc. raised its position in shares of Charles Schwab by 71.4% in the third quarter. Hilltop Holdings Inc. now owns 12,647 shares of the financial services provider's stock valued at $820,000 after buying an additional 5,267 shares during the last quarter. 84.38% of the stock is currently owned by institutional investors and hedge funds.

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.