JMP Securities Lowers Charles Schwab (NYSE:SCHW) Price Target to $94.00

Charles Schwab (NYSE:SCHW - Get Free Report) had its price target lowered by investment analysts at JMP Securities from $96.00 to $94.00 in a report issued on Tuesday,Benzinga reports. The brokerage currently has a "market outperform" rating on the financial services provider's stock. JMP Securities' price target indicates a potential upside of 22.12% from the company's current price.

SCHW has been the topic of several other research reports. 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 note on Friday, April 4th. Redburn Partners cut their target price on Charles Schwab from $70.00 to $68.00 and set a "sell" rating for the company in a research note on Friday, January 17th. Citigroup raised Charles Schwab from a "neutral" rating to a "buy" rating and raised their price objective for the stock from $85.00 to $102.00 in a research report on Wednesday, April 2nd. Wells Fargo & Company upgraded shares of Charles Schwab from an "equal weight" rating to an "overweight" rating and lifted their price target for the company from $89.00 to $93.00 in a research report on Wednesday, January 22nd. Finally, Piper Sandler decreased their price objective on shares of Charles Schwab from $78.00 to $74.00 and set a "neutral" rating on the stock in a report on Tuesday, April 8th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, Charles Schwab currently has a consensus rating of "Moderate Buy" and a consensus price target of $85.33.

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Charles Schwab Stock Performance

Shares of NYSE:SCHW traded up $3.12 during trading on Tuesday, hitting $76.97. The stock had a trading volume of 14,847,290 shares, compared to its average volume of 9,284,845. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 0.59. Charles Schwab has a 12-month low of $61.01 and a 12-month high of $84.50. The stock has a 50-day simple moving average of $77.77 and a two-hundred day simple moving average of $76.14. The stock has a market capitalization of $139.59 billion, a price-to-earnings ratio of 25.74, a price-to-earnings-growth ratio of 0.99 and a beta of 0.91.

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 company had revenue of $5.33 billion during the quarter, compared to the consensus estimate of $5.19 billion. Charles Schwab had a return on equity of 18.20% and a net margin of 30.31%. Charles Schwab's revenue for the quarter was up 19.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.68 earnings per share. On average, equities research analysts expect that Charles Schwab will post 4.22 earnings per share for the current fiscal year.

Insider Transactions at Charles Schwab

In other news, insider Paul V. Woolway sold 3,380 shares of the company's stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $77.43, for a total transaction of $261,713.40. Following the completion of the transaction, 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 position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Chairman Walter W. Bettinger sold 464,629 shares of the firm's stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $81.91, for a total value of $38,057,761.39. Following the sale, the chairman now directly owns 827,377 shares in the company, valued at $67,770,450.07. This trade represents a 35.96 % decrease in their position. 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 currently owned by corporate insiders.

Hedge Funds Weigh In On Charles Schwab

Several hedge funds have recently added to or reduced their stakes in the stock. Principal Financial Group Inc. lifted its position in Charles Schwab by 0.6% in the third quarter. Principal Financial Group Inc. now owns 6,673,901 shares of the financial services provider's stock valued at $432,536,000 after acquiring an additional 38,201 shares during the last quarter. United Bank increased its position in shares of Charles Schwab by 13.0% during the third quarter. United Bank now owns 11,352 shares of the financial services provider's stock worth $736,000 after purchasing an additional 1,309 shares in the last quarter. Benjamin Edwards Inc. lifted its holdings in shares of Charles Schwab by 2,840.7% in the 3rd quarter. Benjamin Edwards Inc. now owns 6,146 shares of the financial services provider's stock valued at $398,000 after purchasing an additional 5,937 shares during the last quarter. Y Intercept Hong Kong Ltd boosted its position in shares of Charles Schwab by 125.5% in the 3rd quarter. Y Intercept Hong Kong Ltd now owns 20,728 shares of the financial services provider's stock valued at $1,343,000 after purchasing an additional 11,537 shares during the period. Finally, Nomura Asset Management Co. Ltd. grew its stake in Charles Schwab by 11.5% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 865,919 shares of the financial services provider's stock worth $56,120,000 after buying an additional 88,962 shares during the last quarter. 84.38% of the stock is currently 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.