Charles Schwab (NYSE:SCHW) Stock Rating Reaffirmed by Argus

Argus reiterated their buy rating on shares of Charles Schwab (NYSE:SCHW) in a report released on Wednesday morning, BenzingaRatingsTable reports. Argus currently has a $52.00 target price on the financial services provider’s stock, down from their previous target price of $57.00.

Other equities research analysts have also issued research reports about the stock. Wells Fargo & Co reiterated a hold rating on shares of AON in a research note on Friday, April 5th. Morgan Stanley raised their price target on shares of Visa from $175.00 to $191.00 and gave the stock an overweight rating in a research note on Thursday, July 11th. JPMorgan Chase & Co. set a $44.00 price target on shares of Charles Schwab and gave the stock a buy rating in a research note on Friday, June 21st. Deutsche Bank restated a buy rating and set a GBX 4,000 ($52.27) price target on shares of in a research note on Tuesday, June 18th. Finally, Bank of America set a $80.00 price target on shares of Colgate-Palmolive and gave the stock a buy rating in a research note on Friday, July 12th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and eight have given a buy rating to the stock. The stock presently has a consensus rating of Hold and an average target price of $47.60.

NYSE:SCHW opened at $42.72 on Wednesday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.33 and a current ratio of 0.33. The stock has a market cap of $57.03 billion, a price-to-earnings ratio of 16.12, a price-to-earnings-growth ratio of 4.55 and a beta of 1.23. Charles Schwab has a 52 week low of $37.83 and a 52 week high of $53.61. The company has a 50-day moving average price of $41.16.

Charles Schwab (NYSE:SCHW) last posted its quarterly earnings data on Tuesday, July 16th. The financial services provider reported $0.66 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.65 by $0.01. The firm had revenue of $2.68 billion during the quarter, compared to analyst estimates of $2.68 billion. Charles Schwab had a net margin of 35.29% and a return on equity of 20.60%. The company’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same quarter last year, the business posted $0.60 EPS. Analysts expect that Charles Schwab will post 2.68 earnings per share for the current year.

In other Charles Schwab news, Director Charles A. Ruffel acquired 2,500 shares of Charles Schwab stock in a transaction that occurred on Friday, May 3rd. The stock was acquired at an average cost of $46.10 per share, for a total transaction of $115,250.00. Following the purchase, the director now owns 788 shares of the company’s stock, valued at $36,326.80. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Jonathan M. Craig sold 3,740 shares of Charles Schwab stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $40.20, for a total transaction of $150,348.00. The disclosure for this sale can be found here. Insiders sold a total of 814,376 shares of company stock valued at $37,150,434 over the last quarter. 10.90% of the stock is owned by company insiders.

Institutional investors have recently added to or reduced their stakes in the stock. Northern Trust Corp boosted its holdings in Charles Schwab by 0.3% in the 1st quarter. Northern Trust Corp now owns 16,708,657 shares of the financial services provider’s stock valued at $714,463,000 after purchasing an additional 52,865 shares during the period. Clearbridge Investments LLC boosted its holdings in Charles Schwab by 24.0% in the 1st quarter. Clearbridge Investments LLC now owns 14,863,818 shares of the financial services provider’s stock valued at $635,577,000 after purchasing an additional 2,880,846 shares during the period. Harris Associates L P boosted its holdings in Charles Schwab by 197.1% in the 4th quarter. Harris Associates L P now owns 13,940,097 shares of the financial services provider’s stock valued at $578,932,000 after purchasing an additional 9,248,471 shares during the period. Geode Capital Management LLC boosted its holdings in Charles Schwab by 5.9% in the 4th quarter. Geode Capital Management LLC now owns 13,627,245 shares of the financial services provider’s stock valued at $564,801,000 after purchasing an additional 758,069 shares during the period. Finally, Norges Bank bought a new position in Charles Schwab in the 4th quarter valued at $443,292,000. Institutional investors and hedge funds own 78.70% of the company’s stock.

Charles Schwab Company Profile

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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Analyst Recommendations for Charles Schwab (NYSE:SCHW)

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