Trade Report: Today, The Charles Schwab Corp. (SCHW) Upgraded at Bank of America Corp.

Today, The Charles Schwab Corp. (SCHW) Upgraded at Bank of America Corp.

Bank of America Corp. upgraded shares of The Charles Schwab Corp. (NYSE:SCHW) from a neutral rating to a buy rating in a research note issued to investors on Thursday morning. Bank of America Corp. currently has $38.00 price target on the stock, up from their prior price target of $21.51.

SCHW has been the topic of a number of other reports. Jefferies Group reissued a buy rating on shares of The Charles Schwab Corp. in a report on Friday, August 5th. Barclays PLC boosted their target price on shares of The Charles Schwab Corp. from $29.00 to $34.00 and gave the stock an overweight rating in a report on Tuesday, August 9th. JMP Securities reissued an outperform rating and set a $32.00 target price on shares of The Charles Schwab Corp. in a report on Wednesday, July 20th. Nomura reduced their target price on shares of The Charles Schwab Corp. from $33.00 to $31.00 and set a buy rating on the stock in a report on Monday, July 11th. Finally, Deutsche Bank AG reissued a buy rating on shares of The Charles Schwab Corp. in a report on Sunday, July 10th. Three investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. The company presently has a consensus rating of Buy and an average target price of $33.57.

Shares of The Charles Schwab Corp. (NYSE:SCHW) opened at 31.69 on Thursday. The Charles Schwab Corp. has a 12-month low of $21.51 and a 12-month high of $34.52. The firm has a market capitalization of $41.93 billion, a price-to-earnings ratio of 27.32 and a beta of 1.55. The firm has a 50-day moving average of $31.24 and a 200 day moving average of $29.12.

The Charles Schwab Corp. (NYSE:SCHW) last announced its quarterly earnings results on Monday, October 17th. The company reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.02. The company had revenue of $1.91 billion for the quarter, compared to analyst estimates of $1.89 billion. The Charles Schwab Corp. had a net margin of 24.07% and a return on equity of 13.03%. The firm’s revenue was up 19.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.27 EPS. On average, equities research analysts expect that The Charles Schwab Corp. will post $1.26 earnings per share for the current year.

In related news, insider Marie A. Chandoha sold 6,076 shares of the stock in a transaction dated Tuesday, October 4th. The shares were sold at an average price of $32.00, for a total transaction of $194,432.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Nigel J. Murtagh sold 2,500 shares of the company’s stock in a transaction dated 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 directly owns 35,137 shares in the company, valued at $1,044,271.64. The disclosure for this sale can be found here. 12.60% of the stock is currently owned by insiders.

Large investors have recently added to or reduced their stakes in the stock. Dodge & Cox increased its stake in shares of 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. boosted its position in shares of 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 valued at $1,837,998,000 after buying an additional 1,453,545 shares in the last quarter. BlackRock Institutional Trust Company N.A. boosted its position in shares of 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 valued at $826,606,000 after buying an additional 2,620,553 shares in the last quarter. FMR LLC boosted its position in shares of The Charles Schwab Corp. by 6.8% in the second quarter. FMR LLC now owns 23,322,699 shares of the company’s stock valued at $590,299,000 after buying an additional 1,480,550 shares in the last quarter. Finally, Parnassus Investments CA boosted its position in shares of 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 valued at $518,449,000 after buying an additional 1,347,804 shares in the last quarter. 76.48% of the stock is currently owned by institutional investors and hedge funds.

About The Charles Schwab Corp.

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