Charles Schwab (NYSE:SCHW) had its target price increased by SunTrust Banks to $56.00 in a research note issued to investors on Friday morning, The Fly reports. The brokerage currently has 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.
SCHW has been the subject of a number of other reports. BidaskClub lowered shares of Charles Schwab from a sell rating to a strong sell rating in a research note on Friday, September 8th. Morgan Stanley upped their target price on shares of Charles Schwab from $51.00 to $53.00 and gave the stock an overweight rating in a research note on Thursday, October 5th. Barclays upped their target price on shares of Charles Schwab from $48.00 to $51.00 and gave the stock an overweight rating in a research note on Tuesday, October 10th. Deutsche Bank upped their target price on shares of Charles Schwab from $46.00 to $47.00 and gave the stock a hold rating in a research note on Wednesday, October 25th. Finally, Credit Suisse Group started coverage on shares of Charles Schwab in a research note on Thursday, November 30th. They issued an outperform rating and a $55.00 target price for the company. Seven analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The stock has an average rating of Buy and an average target price of $48.31.
Charles Schwab (NYSE SCHW) opened at $51.74 on Friday. The firm has a market cap of $68,744.73, a price-to-earnings ratio of 32.87, a P/E/G ratio of 2.18 and a beta of 1.74. 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 has a one year low of $37.16 and a one year high of $52.20.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 24th. Stockholders of record on Friday, November 10th were paid 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 dividend payout ratio is 20.51%.
In other news, insider Marie A. Chandoha sold 6,018 shares of the company’s stock in a transaction dated Wednesday, September 27th. The shares were sold at an average price of $44.06, for a total value of $265,153.08. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Peter B. Crawford sold 12,459 shares of the company’s stock in a transaction dated Tuesday, December 5th. The shares were 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 $394,690.16. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,778,324 shares of company stock valued at $82,710,964. Company insiders own 12.00% of the company’s stock.
Hedge funds have recently modified their holdings of the company. Fiduciary Trust Co. bought a new stake in shares of Charles Schwab in the 2nd quarter valued at about $163,000. Zions Bancorporation raised its holdings in Charles Schwab by 1,545.3% in the 3rd quarter. Zions Bancorporation now owns 3,817 shares of the financial services provider’s stock valued at $167,000 after acquiring an additional 3,585 shares during the period. Paradigm Asset Management Co. LLC raised its holdings in Charles Schwab by 4.7% in the 2nd quarter. Paradigm Asset Management Co. LLC now owns 4,450 shares of the financial services provider’s stock valued at $191,000 after acquiring an additional 200 shares during the period. Quadrant Capital Group LLC raised its holdings in Charles Schwab by 31.4% in the 2nd quarter. Quadrant Capital Group LLC now owns 4,531 shares of the financial services provider’s stock valued at $168,000 after acquiring an additional 1,082 shares during the period. Finally, Sigma Investment Counselors Inc. bought a new position in Charles Schwab in the 2nd quarter valued at about $201,000. 79.84% of the stock is currently owned by institutional investors.
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About Charles Schwab
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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