Today: Barclays PLC Increases Today: Charles Schwab Corp. (SCHW) Price Target to $35.00

Today: Barclays PLC Increases Today: Charles Schwab Corp. (SCHW) Price Target to $35.00

The Charles Schwab Corp. (NYSE:SCHW) had its target price lifted by analysts at Barclays PLC from $34.00 to $35.00 in a research report issued on Thursday. The brokerage currently has an “overweight” rating on the stock. Barclays PLC’s price objective indicates a potential upside of 9.48% from the company’s current price.

Several other equities research analysts have also recently issued reports on SCHW. Deutsche Bank AG decreased their price target on shares of The Charles Schwab Corp. from $35.00 to $33.00 and set a “buy” rating on the stock in a research note on Thursday, June 16th. Zacks Investment Research cut shares of The Charles Schwab Corp. from a “hold” rating to a “sell” rating in a research note on Monday, June 27th. Jefferies Group decreased their price target on shares of The Charles Schwab Corp. from $36.00 to $34.00 and set a “buy” rating on the stock in a research note on Thursday, July 7th. Nomura decreased their price target on shares of The Charles Schwab Corp. from $33.00 to $31.00 and set a “buy” rating on the stock in a research note on Monday, July 11th. Finally, JMP Securities reaffirmed an “outperform” rating and set a $32.00 price target on shares of The Charles Schwab Corp. in a research note on Wednesday, July 20th. Five research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $33.45.

Shares of The Charles Schwab Corp. (NYSE:SCHW) opened at 31.97 on Thursday. The stock has a market capitalization of $42.30 billion, a P/E ratio of 27.56 and a beta of 1.55. The Charles Schwab Corp. has a 52 week low of $21.51 and a 52 week high of $34.52. The company’s 50-day moving average is $31.22 and its 200 day moving average is $29.08.

The Charles Schwab Corp. (NYSE:SCHW) last released its quarterly earnings results on Monday, July 18th. The company reported $0.30 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.30. The Charles Schwab Corp. had a net margin of 24.07% and a return on equity of 13.03%. The company had revenue of $1.83 billion for the quarter, compared to analysts’ expectations of $1.80 billion. During the same period last year, the company earned $0.25 EPS. The firm’s revenue for the quarter was up 16.7% compared to the same quarter last year. On average, equities analysts forecast that The Charles Schwab Corp. will post $1.26 EPS for the current fiscal year.

In other news, EVP Terri R. Kallsen sold 6,894 shares of The Charles Schwab Corp. stock in a transaction that occurred on Friday, July 22nd. The shares were sold at an average price of $28.01, for a total transaction of $193,100.94. Following the sale, the executive vice president now owns 17,822 shares in the company, valued at $499,194.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Nigel J. Murtagh sold 2,500 shares of The Charles Schwab Corp. stock in a transaction that occurred on Friday, August 5th. The shares were sold at an average price of $29.72, for a total transaction of $74,300.00. Following the sale, the executive vice president now owns 35,137 shares in the company, valued at approximately $1,044,271.64. The disclosure for this sale can be found here. Insiders own 12.60% of the company’s stock.

Several hedge funds have recently bought and sold shares of the stock. Dodge & Cox raised its stake in The Charles Schwab Corp. by 0.4% in the first quarter. Dodge & Cox now owns 103,001,887 shares of the company’s stock worth $2,886,113,000 after buying an additional 379,250 shares in the last quarter. Vanguard Group Inc. raised its stake in The Charles Schwab Corp. by 2.0% in the second quarter. Vanguard Group Inc. now owns 72,619,468 shares of the company’s stock worth $1,837,998,000 after buying an additional 1,453,545 shares in the last quarter. BlackRock Institutional Trust Company N.A. raised its stake in The Charles Schwab Corp. by 8.7% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 32,659,249 shares of the company’s stock worth $826,606,000 after buying an additional 2,620,553 shares in the last quarter. FMR LLC raised its stake in The Charles Schwab Corp. by 6.8% in the second quarter. FMR LLC now owns 23,322,699 shares of the company’s stock worth $590,299,000 after buying an additional 1,480,550 shares in the last quarter. Finally, Parnassus Investments CA raised its stake in The Charles Schwab Corp. by 7.0% in the second quarter. Parnassus Investments CA now owns 20,483,956 shares of the company’s stock worth $518,449,000 after buying an additional 1,347,804 shares in the last quarter. Institutional investors own 76.45% of the company’s stock.

About The Charles Schwab Corp.

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