Charles Schwab’s (SCHW) “Positive” Rating Reaffirmed at Credit Suisse Group

Credit Suisse Group reissued their positive rating on shares of Charles Schwab (NYSE:SCHW) in a research note published on Thursday morning, The Fly reports. They currently have a $70.00 price objective on the financial services provider’s stock, up from their previous price objective of $64.00.

A number of other research analysts have also issued reports on SCHW. Argus boosted their price objective on Charles Schwab from $59.00 to $69.00 and gave the company a buy rating in a research report on Thursday. BidaskClub raised Charles Schwab from a hold rating to a buy rating in a research note on Tuesday, September 26th. Wells Fargo & Co reaffirmed a market perform rating and set a $55.00 target price (up previously from $47.00) on shares of Charles Schwab in a research note on Thursday, January 4th. JMP Securities downgraded Charles Schwab from an outperform rating to a market perform rating in a research note on Wednesday, January 3rd. Finally, Citigroup reaffirmed a buy rating and set a $60.00 target price (up previously from $52.00) on shares of Charles Schwab in a research note on Tuesday, January 9th. Seven analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of Buy and an average target price of $54.00.

Charles Schwab (SCHW) traded up $0.15 during trading hours on Thursday, reaching $55.48. The company had a trading volume of 7,368,346 shares, compared to its average volume of 6,280,000. Charles Schwab has a twelve month low of $37.16 and a twelve month high of $56.25. The firm has a market cap of $74,290.00, a price-to-earnings ratio of 34.46, a P/E/G ratio of 1.35 and a beta of 1.75. The company has a quick ratio of 0.30, a current ratio of 0.31 and a debt-to-equity ratio of 0.21.

Charles Schwab (NYSE:SCHW) last released its quarterly earnings data on Wednesday, January 17th. The financial services provider reported $0.44 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.41 by $0.03. Charles Schwab had a return on equity of 16.31% and a net margin of 27.32%. The business had revenue of $2.24 billion during the quarter, compared to analyst estimates of $2.24 billion. During the same quarter in the previous year, the firm posted $0.36 EPS. The business’s revenue for the quarter was up 13.7% compared to the same quarter last year. sell-side analysts forecast that Charles Schwab will post 2.41 EPS for the current fiscal year.

In other news, Chairman Charles R. Schwab sold 300,000 shares of the business’s stock in a transaction on Thursday, January 18th. The stock was sold at an average price of $55.31, for a total value of $16,593,000.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Chairman Charles R. Schwab sold 350,000 shares of the business’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. Insiders sold a total of 1,958,531 shares of company stock worth $93,990,901 in the last three months. Company insiders own 12.00% of the company’s stock.

Institutional investors have recently made changes to their positions in the company. Cubist Systematic Strategies LLC raised its position in shares of Charles Schwab by 317.6% during the second quarter. Cubist Systematic Strategies LLC now owns 51,701 shares of the financial services provider’s stock worth $2,221,000 after purchasing an additional 39,321 shares during the period. CIBC World Markets Inc. acquired a new stake in shares of Charles Schwab during the second quarter worth $282,000. CAPROCK Group Inc. raised its position in shares of Charles Schwab by 22.3% during the third quarter. CAPROCK Group Inc. now owns 6,532 shares of the financial services provider’s stock worth $286,000 after purchasing an additional 1,190 shares during the period. Northern Trust Corp raised its position in shares of Charles Schwab by 8.8% during the second quarter. Northern Trust Corp now owns 16,795,035 shares of the financial services provider’s stock worth $721,515,000 after purchasing an additional 1,361,516 shares during the period. Finally, Sentry Investment Management LLC raised its position in shares of Charles Schwab by 11.6% during the second quarter. Sentry Investment Management LLC now owns 96,298 shares of the financial services provider’s stock worth $4,137,000 after purchasing an additional 9,971 shares during the period. 79.59% 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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