Charles Schwab (NYSE:SCHW) Given New $84.00 Price Target at Truist Financial

Charles Schwab (NYSE:SCHW - Free Report) had its price target reduced by Truist Financial from $85.00 to $84.00 in a research report sent to investors on Monday morning,Benzinga reports. Truist Financial currently has a buy rating on the financial services provider's stock.

A number of other research firms have also commented on SCHW. UBS Group increased their price target on Charles Schwab from $90.00 to $95.00 and gave the stock a "buy" rating in a research report on Monday, January 27th. Deutsche Bank Aktiengesellschaft increased their price objective on Charles Schwab from $98.00 to $105.00 and gave the company a "buy" rating in a research report on Wednesday, January 22nd. JMP Securities decreased their price objective on Charles Schwab from $96.00 to $94.00 and set a "market outperform" rating on the stock in a research report on Tuesday, April 8th. Piper Sandler increased their price target on Charles Schwab from $74.00 to $80.00 in a research note on Thursday, April 17th. Finally, 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 note on Tuesday, February 18th. 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 company. According to MarketBeat, Charles Schwab has an average rating of "Moderate Buy" and a consensus price target of $85.78.

Charles Schwab Stock Performance

SCHW traded up $0.72 during trading on Monday, hitting $78.57. The stock had a trading volume of 947,140 shares, compared to its average volume of 12,014,807. The firm has a market cap of $142.49 billion, a PE ratio of 26.29, a P/E/G 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. 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 company has a 50 day simple moving average of $76.87 and a 200-day simple moving average of $76.75.

Charles Schwab (NYSE:SCHW - Get Free Report) last posted its quarterly earnings data on Thursday, April 17th. The financial services provider reported $1.04 earnings per share (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 company had revenue of $5.60 billion for the quarter, compared to the consensus estimate of $5.46 billion. During the same quarter in the previous year, the firm posted $0.74 EPS. Analysts expect that Charles Schwab will post 4.22 EPS for the current year.

Charles Schwab Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 14th were paid a $0.27 dividend. The ex-dividend date was Friday, February 14th. This is a positive change from Charles Schwab's previous quarterly dividend of $0.25. This represents a $1.08 annualized dividend and a yield of 1.37%. Charles Schwab's dividend payout ratio (DPR) is 32.73%.

Insider Activity at Charles Schwab

In other news, Chairman Walter W. Bettinger sold 464,629 shares of Charles Schwab stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $81.91, for a total transaction of $38,057,761.39. Following the sale, 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Frank C. Herringer sold 3,592 shares of Charles Schwab stock in a transaction dated Monday, April 21st. The shares were sold at an average price of $74.26, for a total value of $266,741.92. Following the sale, the director now directly owns 172,162 shares in the company, valued at $12,784,750.12. The trade was a 2.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 493,482 shares of company stock valued at $40,288,720 over the last ninety days. 6.30% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Charles Schwab

Several institutional investors have recently made changes to their positions in the stock. Atwood & Palmer Inc. purchased a new stake in Charles Schwab in the 1st quarter valued at about $25,000. WFA Asset Management Corp purchased a new stake in Charles Schwab in the 1st quarter valued at about $33,000. Murphy & Mullick Capital Management Corp purchased a new stake in Charles Schwab in the 4th quarter valued at about $38,000. Beacon Capital Management LLC increased its stake in Charles Schwab by 53.1% in the 1st quarter. Beacon Capital Management LLC now owns 487 shares of the financial services provider's stock valued at $38,000 after buying an additional 169 shares during the last quarter. Finally, Atala Financial Inc purchased a new stake in Charles Schwab in the 4th quarter valued at about $41,000. Institutional investors and hedge funds own 84.38% of the company's stock.

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.