Barclays PLC Increases The Charles Schwab Corporation (SCHW) Price Target to $51.00

The Charles Schwab Corporation (NYSE:SCHW) had its target price raised by equities researchers at Barclays PLC from $48.00 to $51.00 in a note issued to investors on Tuesday. The firm presently has an “overweight” rating on the financial services provider’s stock. Barclays PLC’s price objective would suggest a potential upside of 12.56% from the company’s current price.

Other research analysts also recently issued reports about the company. Nomura downgraded The Charles Schwab Corporation from a “buy” rating to a “neutral” rating in a report on Monday, July 24th. Instinet reiterated a “neutral” rating and set a $43.00 price objective (down from $46.00) on shares of The Charles Schwab Corporation in a report on Monday, July 24th. BidaskClub raised The Charles Schwab Corporation from a “hold” rating to a “buy” rating in a research report on Tuesday, June 13th. Argus reissued a “buy” rating and set a $48.00 price target (up from $46.00) on shares of The Charles Schwab Corporation in a research report on Friday, July 21st. Finally, Morgan Stanley reissued an “overweight” rating and set a $51.00 price target (up from $48.00) on shares of The Charles Schwab Corporation in a research report on Tuesday, July 25th. Six investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $46.80.

Shares of The Charles Schwab Corporation (NYSE SCHW) opened at 45.31 on Tuesday. The firm has a market capitalization of $60.68 billion, a price-to-earnings ratio of 30.41 and a beta of 1.68. The stock’s 50 day moving average price is $41.57 and its 200 day moving average price is $41.00. The Charles Schwab Corporation has a one year low of $30.66 and a one year high of $46.21.

The Charles Schwab Corporation (NYSE:SCHW) last posted its quarterly earnings data on Tuesday, July 18th. The financial services provider reported $0.39 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.39. The business had revenue of $2.13 billion during the quarter, compared to the consensus estimate of $2.13 billion. The Charles Schwab Corporation had a return on equity of 15.41% and a net margin of 26.73%. The Charles Schwab Corporation’s quarterly revenue was up 16.5% on a year-over-year basis. During the same period last year, the company earned $0.30 earnings per share. Analysts expect that The Charles Schwab Corporation will post $1.61 EPS for the current fiscal year.

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In related news, EVP Terri R. Kallsen sold 2,000 shares of The Charles Schwab Corporation stock in a transaction that occurred on Wednesday, August 2nd. The stock was sold at an average price of $43.07, for a total transaction of $86,140.00. Following the completion of the sale, the executive vice president now directly owns 5,212 shares of the company’s stock, valued at approximately $224,480.84. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Chairman Charles R. Schwab sold 350,000 shares of The Charles Schwab Corporation stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $43.10, for a total value of $15,085,000.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,035,705 shares of company stock valued at $44,665,539. Insiders own 12.00% of the company’s stock.

Large investors have recently added to or reduced their stakes in the stock. WealthTrust Arizona LLC lifted its holdings in The Charles Schwab Corporation by 1.2% during the 2nd quarter. WealthTrust Arizona LLC now owns 2,466 shares of the financial services provider’s stock worth $106,000 after purchasing an additional 29 shares during the last quarter. Shine Investment Advisory Services Inc. acquired a new stake in The Charles Schwab Corporation during the 2nd quarter worth approximately $145,000. Founders Capital Management acquired a new stake in The Charles Schwab Corporation during the 1st quarter worth approximately $159,000. Fiduciary Trust Co. acquired a new stake in The Charles Schwab Corporation during the 2nd quarter worth approximately $163,000. Finally, Quadrant Capital Group LLC lifted its holdings in The Charles Schwab Corporation by 31.4% during the 2nd quarter. Quadrant Capital Group LLC now owns 4,531 shares of the financial services provider’s stock worth $168,000 after purchasing an additional 1,082 shares during the last quarter. 79.53% of the stock is owned by institutional investors and hedge funds.

The Charles Schwab Corporation 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.

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