Charles Schwab (SCHW) Price Target Increased to $56.00 by Analysts at SunTrust Banks

Charles Schwab (NYSE:SCHW) had its target price boosted by SunTrust Banks to $56.00 in a report published on Friday morning. They currently have an average rating on the financial services provider’s stock. SunTrust Banks also issued estimates for Charles Schwab’s Q3 2018 earnings at $0.51 EPS, Q4 2018 earnings at $0.54 EPS and FY2018 earnings at $1.99 EPS. The analysts noted that the move was a valuation call.

A number of other research analysts have also weighed in on the company. Credit Suisse Group began coverage on Charles Schwab in a report on Thursday, November 30th. They set an outperform rating and a $55.00 target price on the stock. Barclays boosted their target price on Charles Schwab from $48.00 to $51.00 and gave the stock an overweight rating in a report on Tuesday, October 10th. Keefe, Bruyette & Woods reissued a buy rating and set a $47.00 target price on shares of Charles Schwab in a report on Friday, September 15th. Deutsche Bank boosted their target price on Charles Schwab from $46.00 to $47.00 and gave the stock a hold rating in a report on Wednesday, October 25th. Finally, BidaskClub upgraded Charles Schwab from a buy rating to a strong-buy rating in a research note on Tuesday, October 10th. Seven analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The company presently has a consensus rating of Buy and an average price target of $48.31.

Charles Schwab (SCHW) traded up $1.08 during trading hours on Friday, hitting $51.28. The company’s stock had a trading volume of 10,621,877 shares, compared to its average volume of 6,774,340. The firm has a market cap of $67,296.92, a price-to-earnings ratio of 32.18, a price-to-earnings-growth ratio of 2.13 and a beta of 1.74. Charles Schwab has a 52-week low of $37.16 and a 52-week high of $51.98. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.31 and a quick ratio of 0.30.

Charles Schwab (NYSE:SCHW) last posted its quarterly earnings results on Wednesday, October 18th. The financial services provider reported $0.42 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.41 by $0.01. The firm had revenue of $2.17 billion for the quarter, compared to analyst estimates of $2.18 billion. Charles Schwab had a return on equity of 15.77% and a net margin of 27.30%. The business’s quarterly revenue was up 13.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.35 EPS. equities research analysts forecast that Charles Schwab will post 1.62 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Friday, November 24th. Stockholders of record on Friday, November 10th were given a dividend of $0.08 per share. The ex-dividend date was Thursday, November 9th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.62%. Charles Schwab’s payout ratio is 20.51%.

In related news, CFO Peter B. Crawford sold 12,459 shares of the company’s stock in a transaction on Tuesday, December 5th. The stock was sold at an average price of $51.58, for a total transaction of $642,635.22. Following the completion of the sale, the chief financial officer now directly owns 7,652 shares in the company, valued at approximately $394,690.16. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Chairman Charles R. Schwab sold 350,000 shares of the company’s stock in a transaction on Thursday, November 16th. The stock was sold at an average price of $44.65, for a total value of $15,627,500.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,778,324 shares of company stock valued at $82,710,964. Corporate insiders own 12.00% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. increased its holdings in Charles Schwab by 3.2% in the 2nd quarter. Vanguard Group Inc. now owns 81,925,586 shares of the financial services provider’s stock worth $3,519,523,000 after purchasing an additional 2,536,947 shares in the last quarter. BlackRock Inc. increased its stake in shares of Charles Schwab by 2.5% in the second quarter. BlackRock Inc. now owns 73,666,134 shares of the financial services provider’s stock valued at $3,164,699,000 after buying an additional 1,790,015 shares during the period. JPMorgan Chase & Co. increased its stake in shares of Charles Schwab by 1.3% in the second quarter. JPMorgan Chase & Co. now owns 39,576,199 shares of the financial services provider’s stock valued at $1,700,193,000 after buying an additional 491,451 shares during the period. FMR LLC increased its stake in shares of Charles Schwab by 11.3% in the second quarter. FMR LLC now owns 30,766,004 shares of the financial services provider’s stock valued at $1,321,708,000 after buying an additional 3,128,532 shares during the period. Finally, Capital Research Global Investors increased its stake in shares of Charles Schwab by 86.3% in the second quarter. Capital Research Global Investors now owns 24,237,199 shares of the financial services provider’s stock valued at $1,041,230,000 after buying an additional 11,224,199 shares during the period. 79.84% of the stock is owned by institutional investors and hedge funds.

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Charles Schwab Company Profile

The Charles Schwab Corporation (CSC) is a savings and loan holding company. The Company, through its subsidiaries, engages in wealth management, securities brokerage, banking, money management and financial advisory services. The Company provides financial services to individuals and institutional clients through two segments: Investor Services and Advisor Services.

Analyst Recommendations for Charles Schwab (NYSE:SCHW)

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