Wells Fargo & Company Lowers Charles Schwab (NYSE:SCHW) Price Target to $89.00

Charles Schwab (NYSE:SCHW - Free Report) had its price target lowered by Wells Fargo & Company from $90.00 to $89.00 in a research note published on Tuesday,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the financial services provider's stock.

Several other analysts have also weighed in on the company. Citigroup lowered their price objective on Charles Schwab from $85.00 to $80.00 and set a "neutral" rating for the company in a report on Friday. StockNews.com raised Charles Schwab from a "sell" rating to a "hold" rating in a research report on Wednesday, October 16th. Keefe, Bruyette & Woods lifted their price objective on shares of Charles Schwab from $81.00 to $93.00 and gave the stock an "outperform" rating in a report on Friday, December 20th. JPMorgan Chase & Co. raised their price target on shares of Charles Schwab from $87.00 to $93.00 and gave the stock an "overweight" rating in a research report on Tuesday, January 7th. Finally, Raymond James lowered their price objective on shares of Charles Schwab from $76.00 to $73.00 in a research report on Tuesday, October 15th. One analyst has rated the stock with a sell rating, eight have given a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Charles Schwab has a consensus rating of "Moderate Buy" and a consensus target price of $81.63.

Charles Schwab Stock Down 0.5 %

Charles Schwab stock traded down $0.36 during midday trading on Tuesday, hitting $72.30. 6,608,896 shares of the stock were exchanged, compared to its average volume of 8,027,081. Charles Schwab has a 1 year low of $59.67 and a 1 year high of $83.35. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.47 and a quick ratio of 0.47. The firm has a market cap of $128.67 billion, a P/E ratio of 28.24, a P/E/G ratio of 1.76 and a beta of 0.99. The company has a 50 day moving average price of $77.62 and a two-hundred day moving average price of $70.58.

Charles Schwab (NYSE:SCHW - Get Free Report) last released its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $0.77 EPS for the quarter, topping the consensus estimate of $0.75 by $0.02. The business had revenue of $4.85 billion for the quarter, compared to analysts' expectations of $4.78 billion. Charles Schwab had a return on equity of 16.92% and a net margin of 27.47%. The company's revenue was up 5.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.77 earnings per share. On average, sell-side analysts predict that Charles Schwab will post 3.12 earnings per share for the current fiscal year.

Charles Schwab Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Friday, November 8th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.38%. The ex-dividend date of this dividend was Friday, November 8th. Charles Schwab's dividend payout ratio (DPR) is 39.06%.

Insider Buying and Selling

In other news, Chairman Charles R. Schwab sold 62,345 shares of the business's stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $72.52, for a total value of $4,521,259.40. Following the sale, the chairman now owns 60,619,371 shares of the company's stock, valued at approximately $4,396,116,784.92. The trade was a 0.10 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Carolyn Schwab-Pomerantz sold 29,800 shares of Charles Schwab stock in a transaction dated Thursday, October 17th. The stock was sold at an average price of $72.16, for a total value of $2,150,368.00. Following the transaction, the director now directly owns 551,329 shares in the company, valued at approximately $39,783,900.64. The trade was a 5.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 118,968 shares of company stock valued at $8,842,821 over the last 90 days. 6.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Charles Schwab

Several hedge funds have recently modified their holdings of the stock. Smith Thornton Advisors LLC acquired a new position in Charles Schwab in the 4th quarter worth approximately $322,000. Brave Asset Management Inc. acquired a new stake in shares of Charles Schwab in the fourth quarter worth $221,000. Pinnacle Bancorp Inc. grew its holdings in shares of Charles Schwab by 12.8% during the fourth quarter. Pinnacle Bancorp Inc. now owns 3,075 shares of the financial services provider's stock valued at $228,000 after buying an additional 350 shares in the last quarter. ARS Wealth Advisors Group LLC acquired a new position in Charles Schwab during the fourth quarter valued at $203,000. Finally, Wolff Wiese Magana LLC lifted its stake in Charles Schwab by 6,830.6% in the 4th quarter. Wolff Wiese Magana LLC now owns 4,297 shares of the financial services provider's stock worth $318,000 after acquiring an additional 4,235 shares in the last quarter. 84.38% of the stock is owned by hedge funds and other 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.