Credit Suisse Group Trims Charles Schwab (SCHW) Target Price to $60.00


Charles Schwab (NYSE:SCHW) had its price objective lowered by Credit Suisse Group from $69.00 to $60.00 in a research note published on Wednesday morning. The brokerage currently has an outperform rating on the financial services provider’s stock.


Other equities analysts have also issued reports about the company. Morgan Stanley increased their price target on Charles Schwab from $63.00 to $65.00 and gave the company an overweight rating in a research note on Tuesday. Deutsche Bank decreased their price target on Charles Schwab from $55.00 to $54.00 and set a hold rating for the company in a research note on Friday, April 6th. Sanford C. Bernstein assumed coverage on Charles Schwab in a research note on Monday, April 9th. They set a market perform rating and a $52.00 price target for the company. Wells Fargo reaffirmed a market perform rating and set a $55.00 price target (up from $47.00) on shares of Charles Schwab in a research note on Thursday, January 4th. Finally, Zacks Investment Research lowered Charles Schwab from a buy rating to a hold rating in a research note on Tuesday, March 6th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and nine have issued a buy rating to the company. Charles Schwab has an average rating of Hold and an average price target of $54.47.


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Shares of SCHW stock opened at $51.04 on Wednesday. Charles Schwab has a 12-month low of $37.16 and a 12-month high of $58.11. The company has a market capitalization of $68,562.40, a P/E ratio of 31.12, a price-to-earnings-growth ratio of 1.25 and a beta of 1.55. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.31 and a quick ratio of 0.30.


Charles Schwab (NYSE:SCHW) last issued its quarterly earnings data on Wednesday, January 17th. The financial services provider reported $0.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.41 by $0.03. Charles Schwab had a return on equity of 16.03% 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 period in the prior year, the company posted $0.36 EPS. The business’s revenue for the quarter was up 13.7% compared to the same quarter last year. equities research analysts forecast that Charles Schwab will post 2.4 EPS for the current fiscal year.


In other news, EVP Terri R. Kallsen sold 2,026 shares of the stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $51.94, for a total transaction of $105,230.44. Following the completion of the sale, the executive vice president now owns 1,706 shares in the company, valued at approximately $88,609.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Jonathan M. Craig sold 5,000 shares of the stock in a transaction on Monday, March 12th. The shares were sold at an average price of $58.01, for a total value of $290,050.00. The disclosure for this sale can be found here. Insiders have sold a total of 920,225 shares of company stock valued at $50,239,974 in the last quarter. Insiders own 11.50% of the company’s stock.


Large investors have recently made changes to their positions in the company. Bank of The West lifted its position in shares of Charles Schwab by 1.9% during the 4th quarter. Bank of The West now owns 105,131 shares of the financial services provider’s stock valued at $5,400,000 after acquiring an additional 1,948 shares during the last quarter. Atria Investments LLC lifted its holdings in shares of Charles Schwab by 11.8% in the fourth quarter. Atria Investments LLC now owns 18,096 shares of the financial services provider’s stock valued at $930,000 after purchasing an additional 1,907 shares in the last quarter. State of Alaska Department of Revenue lifted its holdings in shares of Charles Schwab by 311.7% in the fourth quarter. State of Alaska Department of Revenue now owns 141,615 shares of the financial services provider’s stock valued at $7,272,000 after purchasing an additional 107,221 shares in the last quarter. Peregrine Asset Advisers Inc. purchased a new stake in shares of Charles Schwab in the fourth quarter valued at $5,306,000. Finally, Aviance Capital Partners LLC lifted its holdings in shares of Charles Schwab by 52.1% in the fourth quarter. Aviance Capital Partners LLC now owns 59,944 shares of the financial services provider’s stock valued at $3,079,000 after purchasing an additional 20,531 shares in the last quarter. Institutional investors own 80.56% of the company’s stock.


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About Charles Schwab

The Charles Schwab Corporation, through its subsidiaries, provides wealth management, securities brokerage, banking, asset management, custody, and financial advisory services. The company operates through two segments, Investor Services and Advisor Services. The Investor Services segment provides retail brokerage and banking services, retirement plan services, and other corporate brokerage services; equity compensation plan sponsors full-service recordkeeping for stock plans, stock options, restricted stock, performance shares, and stock appreciation rights; and retail investor, retirement plan, and mutual fund clearing services.

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