Charles Schwab (SCHW) Earns Underperform Rating from Analysts at Wolfe Research

Wolfe Research initiated coverage on shares of Charles Schwab (NYSE:SCHW) in a report issued on Tuesday morning, The Fly reports. The brokerage issued an underperform rating on the financial services provider’s stock.

A number of other brokerages have also weighed in on SCHW. Compass Point assumed coverage on shares of Charles Schwab in a report on Tuesday, June 5th. They set a neutral rating and a $60.00 price objective on the stock. Zacks Investment Research raised shares of Charles Schwab from a hold rating to a buy rating and set a $61.00 price objective on the stock in a report on Tuesday, June 26th. Wells Fargo & Co boosted their price objective on shares of Charles Schwab from $54.00 to $56.00 and gave the company a $54.22 rating in a report on Wednesday, July 18th. Morgan Stanley boosted their price objective on shares of Charles Schwab from $63.00 to $65.00 and gave the company an overweight rating in a report on Wednesday, July 25th. Finally, Citigroup dropped their price objective on shares of Charles Schwab from $49.00 to $48.00 and set a sell rating on the stock in a report on Monday, July 23rd. Two analysts have rated the stock with a sell rating, seven have given a hold rating and eight have given a buy rating to the company’s stock. Charles Schwab has an average rating of Hold and an average price target of $58.93.

NYSE SCHW opened at $51.62 on Tuesday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.27 and a current ratio of 0.27. Charles Schwab has a 12-month low of $42.20 and a 12-month high of $60.22. The firm has a market capitalization of $70.04 billion, a price-to-earnings ratio of 31.48, a PEG ratio of 1.30 and a beta of 1.54.

Charles Schwab (NYSE:SCHW) last released its quarterly earnings results on Tuesday, July 17th. The financial services provider reported $0.60 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.58 by $0.02. The business had revenue of $2.49 billion for the quarter, compared to analyst estimates of $2.46 billion. Charles Schwab had a net margin of 30.83% and a return on equity of 17.96%. The business’s revenue for the quarter was up 16.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.39 earnings per share. sell-side analysts anticipate that Charles Schwab will post 2.43 EPS for the current year.

In other Charles Schwab news, Director Christopher V. Dodds sold 15,718 shares of the company’s stock in a transaction on Thursday, August 16th. The shares were sold at an average price of $51.14, for a total value of $803,818.52. Following the sale, the director now directly owns 7,592 shares of the company’s stock, valued at $388,254.88. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Chairman Charles R. Schwab sold 190,500 shares of the company’s stock in a transaction on Tuesday, July 24th. The shares were sold at an average price of $52.75, for a total transaction of $10,048,875.00. The disclosure for this sale can be found here. 11.50% of the stock is owned by insiders.

A number of large investors have recently bought and sold shares of the business. FMR LLC raised its position in shares of Charles Schwab by 13.7% in the second quarter. FMR LLC now owns 65,193,384 shares of the financial services provider’s stock worth $3,331,382,000 after acquiring an additional 7,868,551 shares during the period. Nomura Holdings Inc. raised its position in shares of Charles Schwab by 365.3% in the second quarter. Nomura Holdings Inc. now owns 1,674,691 shares of the financial services provider’s stock worth $85,576,000 after acquiring an additional 1,314,740 shares during the period. Manning & Napier Group LLC raised its position in shares of Charles Schwab by 44.7% in the second quarter. Manning & Napier Group LLC now owns 3,101,140 shares of the financial services provider’s stock worth $158,468,000 after acquiring an additional 957,925 shares during the period. Wells Fargo & Company MN raised its position in shares of Charles Schwab by 15.7% in the second quarter. Wells Fargo & Company MN now owns 6,172,018 shares of the financial services provider’s stock worth $315,390,000 after acquiring an additional 838,506 shares during the period. Finally, Congress Asset Management Co. MA raised its position in shares of Charles Schwab by 417.1% in the second quarter. Congress Asset Management Co. MA now owns 1,010,376 shares of the financial services provider’s stock worth $51,630,000 after acquiring an additional 814,965 shares during the period. 80.26% of the stock is currently owned by institutional investors.

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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Analyst Recommendations for Charles Schwab (NYSE:SCHW)

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