Keefe, Bruyette & Woods Forecasts Strong Price Appreciation for Charles Schwab (NYSE:SCHW) Stock

Charles Schwab (NYSE:SCHW - Get Free Report) had its price objective hoisted by analysts at Keefe, Bruyette & Woods from $90.00 to $93.00 in a report issued on Tuesday,Benzinga reports. The firm presently has an "outperform" rating on the financial services provider's stock. Keefe, Bruyette & Woods' price target suggests a potential upside of 23.79% from the company's previous close.

Several other research firms have also recently commented on SCHW. Wells Fargo & Company cut their target price on Charles Schwab from $93.00 to $87.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 8th. Barclays reduced their price objective 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. Morgan Stanley raised Charles Schwab from an "equal weight" rating to an "overweight" rating and set a $76.00 target price on the stock in a research report on Tuesday, April 8th. TD Cowen raised Charles Schwab from a "hold" rating to a "buy" rating and increased their price target for the company from $88.00 to $103.00 in a research report on Tuesday, February 18th. Finally, Redburn Partners cut their price objective on Charles Schwab from $70.00 to $68.00 and set a "sell" rating for the company in a report on Friday, January 17th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $85.72.

Charles Schwab Stock Performance

Shares of Charles Schwab stock opened at $75.13 on Tuesday. The company has a market capitalization of $136.25 billion, a PE ratio of 25.13, a PEG ratio of 0.99 and a beta of 0.91. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 0.59. The stock's fifty day simple moving average is $77.02 and its 200 day simple moving average is $76.74. 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 announced its earnings results on Thursday, April 17th. The financial services provider reported $1.04 EPS for the quarter, topping the consensus estimate of $1.01 by $0.03. Charles Schwab had a net margin of 30.31% and a return on equity of 18.20%. The firm had revenue of $5.60 billion for the quarter, compared to the consensus estimate of $5.46 billion. During the same period last year, the company posted $0.74 EPS. On average, research analysts predict that Charles Schwab will post 4.22 EPS for the current year.

Insiders Place Their Bets

In other news, Chairman Walter W. Bettinger sold 464,629 shares of the company's stock in a transaction that occurred 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 completion of the sale, the chairman now owns 827,377 shares of the company's stock, valued at approximately $67,770,450.07. This represents a 35.96 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Paul V. Woolway sold 3,380 shares of the business's stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $79.32, for a total transaction of $268,101.60. Following the transaction, the insider now owns 57,818 shares of the company's stock, valued at approximately $4,586,123.76. This represents a 5.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 513,081 shares of company stock worth $41,903,066 in the last 90 days. Company insiders own 6.30% of the company's stock.

Institutional Trading of Charles Schwab

Several institutional investors and hedge funds have recently modified their holdings of the business. Norges Bank acquired a new position in Charles Schwab during the 4th quarter worth approximately $1,289,544,000. Kovitz Investment Group Partners LLC raised its stake in shares of Charles Schwab by 354.5% during the fourth quarter. Kovitz Investment Group Partners LLC now owns 11,005,881 shares of the financial services provider's stock valued at $814,545,000 after acquiring an additional 8,584,173 shares during the last quarter. FMR LLC increased its holdings in Charles Schwab by 69.4% in the fourth quarter. FMR LLC now owns 9,700,013 shares of the financial services provider's stock valued at $717,898,000 after purchasing an additional 3,974,940 shares during the period. Marshall Wace LLP grew its position in shares of Charles Schwab by 742.0% in the 4th quarter. Marshall Wace LLP now owns 4,181,202 shares of the financial services provider's stock valued at $309,451,000 after buying an additional 3,684,640 shares during the last quarter. Finally, Primecap Management Co. CA increased its stake in shares of Charles Schwab by 310.3% in the fourth quarter. Primecap Management Co. CA now owns 4,252,350 shares of the financial services provider's stock valued at $314,716,000 after buying an additional 3,216,000 shares during the period. 84.38% of the stock is currently owned by institutional investors.

About Charles Schwab

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.

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