Charles Schwab (NYSE:SCHW) Price Target Raised to $77.00 at Barclays

Charles Schwab (NYSE:SCHW - Get Free Report) had its target price lifted by equities researchers at Barclays from $72.00 to $77.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm currently has an "equal weight" rating on the financial services provider's stock. Barclays's price objective points to a potential upside of 1.22% from the company's previous close.

Several other research analysts have also recently issued reports on the stock. Morgan Stanley increased their price target on shares of Charles Schwab from $65.00 to $71.00 and gave the stock an "equal weight" rating in a report on Tuesday, April 9th. Piper Sandler upped their price objective on Charles Schwab from $75.00 to $78.00 and gave the stock an "overweight" rating in a report on Friday, April 12th. JPMorgan Chase & Co. reduced their target price on Charles Schwab from $89.00 to $81.00 and set an "overweight" rating for the company in a report on Friday, May 31st. Keefe, Bruyette & Woods upgraded shares of Charles Schwab from a "market perform" rating to an "outperform" rating and increased their price target for the company from $76.00 to $84.00 in a report on Monday. Finally, TD Cowen lowered their target price on shares of Charles Schwab from $92.00 to $88.00 and set a "buy" rating on the stock in a research report on Thursday, May 23rd. Three research analysts have rated the stock with a sell rating, four have given a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, Charles Schwab has an average rating of "Hold" and an average price target of $77.75.

Charles Schwab Stock Performance

Charles Schwab stock traded up $1.44 during mid-day trading on Wednesday, reaching $76.07. 5,796,036 shares of the company were exchanged, compared to its average volume of 7,181,804. Charles Schwab has a twelve month low of $48.66 and a twelve month high of $79.49. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.42 and a current ratio of 0.42. The firm's 50-day simple moving average is $74.31 and its two-hundred day simple moving average is $70.14. The firm has a market cap of $135.20 billion, a PE ratio of 31.83, a price-to-earnings-growth ratio of 1.13 and a beta of 0.99.

Charles Schwab (NYSE:SCHW - Get Free Report) last posted its quarterly earnings data on Monday, April 15th. The financial services provider reported $0.74 earnings per share for the quarter, beating analysts' consensus estimates of $0.73 by $0.01. The firm had revenue of $4.74 billion for the quarter, compared to analyst estimates of $4.71 billion. Charles Schwab had a net margin of 26.14% and a return on equity of 19.25%. Equities analysts predict that Charles Schwab will post 3.25 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Charles Schwab news, Director Mark A. Goldfarb sold 7,100 shares of the business's stock in a transaction on Tuesday, April 16th. The stock was sold at an average price of $70.86, for a total value of $503,106.00. Following the completion of the transaction, the director now directly owns 19,917 shares in the company, valued at approximately $1,411,318.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Mark A. Goldfarb sold 7,100 shares of the company's stock in a transaction dated Tuesday, April 16th. The shares were sold at an average price of $70.86, for a total transaction of $503,106.00. Following the completion of the transaction, the director now owns 19,917 shares of the company's stock, valued at approximately $1,411,318.62. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the business's stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $72.49, for a total transaction of $652,410.00. Following the completion of the sale, the director now owns 570,657 shares of the company's stock, valued at $41,366,925.93. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 658,663 shares of company stock worth $48,997,146. 6.60% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Investment Research & Advisory Group Inc. lifted its stake in shares of Charles Schwab by 1.0% in the 4th quarter. Investment Research & Advisory Group Inc. now owns 58,979 shares of the financial services provider's stock valued at $4,058,000 after purchasing an additional 607 shares in the last quarter. Morningstar Investment Services LLC increased its position in shares of Charles Schwab by 98.0% during the fourth quarter. Morningstar Investment Services LLC now owns 4,691,362 shares of the financial services provider's stock worth $326,284,000 after acquiring an additional 2,322,156 shares during the last quarter. Brown Advisory Inc. boosted its stake in Charles Schwab by 24.3% during the 4th quarter. Brown Advisory Inc. now owns 4,393,223 shares of the financial services provider's stock valued at $302,254,000 after acquiring an additional 857,734 shares during the last quarter. Allspring Global Investments Holdings LLC grew its stake in Charles Schwab by 22.2% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 883,379 shares of the financial services provider's stock worth $60,776,000 after purchasing an additional 160,719 shares in the last quarter. Finally, Retirement Systems of Alabama increased its holdings in shares of Charles Schwab by 13.0% in the 4th quarter. Retirement Systems of Alabama now owns 1,329,388 shares of the financial services provider's stock valued at $91,462,000 after acquiring an additional 152,967 shares during the last quarter. Institutional investors and hedge funds own 84.38% of the company's stock.

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.