The Charles Schwab Corporation (SCHW) Downgraded to Hold at BidaskClub

BidaskClub lowered shares of The Charles Schwab Corporation (NYSE:SCHW) from a buy rating to a hold rating in a research report report published on Wednesday morning.

Several other research firms have also recently commented on SCHW. Deutsche Bank AG cut their price target on The Charles Schwab Corporation from $47.00 to $46.00 and set a buy rating for the company in a report on Thursday, April 6th. William Blair reaffirmed an outperform rating on shares of The Charles Schwab Corporation in a report on Friday, June 16th. Keefe, Bruyette & Woods set a $44.00 price target on The Charles Schwab Corporation and gave the company a buy rating in a report on Monday, April 10th. Citigroup Inc. assumed coverage on The Charles Schwab Corporation in a report on Thursday, July 13th. They issued a neutral rating and a $46.00 price target for the company. Finally, Rosenblatt Securities assumed coverage on The Charles Schwab Corporation in a research note on Thursday, July 13th. They set a neutral rating and a $46.00 target price for the company. Six analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of Buy and an average target price of $43.26.

The Charles Schwab Corporation (NYSE:SCHW) traded down 0.24% during trading on Wednesday, hitting $42.07. The stock had a trading volume of 3,769,776 shares. The Charles Schwab Corporation has a 12 month low of $27.71 and a 12 month high of $44.10. The company’s 50 day moving average is $41.89 and its 200-day moving average is $40.88. The company has a market cap of $56.25 billion, a PE ratio of 29.84 and a beta of 1.64.

The Charles Schwab Corporation (NYSE:SCHW) last posted its quarterly earnings results on Tuesday, July 18th. The financial services provider reported $0.39 EPS for the quarter, meeting the consensus estimate of $0.39. The Charles Schwab Corporation had a return on equity of 15.69% and a net margin of 26.73%. The firm had revenue of $2.13 billion during the quarter, compared to analysts’ expectations of $2.13 billion. During the same quarter last year, the firm earned $0.30 earnings per share. The business’s revenue for the quarter was up 16.5% on a year-over-year basis. On average, equities research analysts predict that The Charles Schwab Corporation will post $1.63 earnings per share for the current year.

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In related news, EVP Joseph R. Martinetto sold 89,330 shares of The Charles Schwab Corporation stock in a transaction on Wednesday, July 19th. The stock was sold at an average price of $42.51, for a total value of $3,797,418.30. Following the completion of the transaction, the executive vice president now directly owns 207,961 shares in the company, valued at $8,840,422.11. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Terri R. Kallsen sold 10,536 shares of The Charles Schwab Corporation stock in a transaction on Monday, July 3rd. The shares were sold at an average price of $43.15, for a total value of $454,628.40. Following the completion of the transaction, the executive vice president now owns 5,212 shares of the company’s stock, valued at $224,897.80. The disclosure for this sale can be found here. Over the last quarter, insiders sold 416,212 shares of company stock valued at $16,980,094. 12.00% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SCHW. Manning & Napier Advisors LLC raised its position in The Charles Schwab Corporation by 1,118.9% in the second quarter. Manning & Napier Advisors LLC now owns 1,468,985 shares of the financial services provider’s stock worth $63,106,000 after buying an additional 1,348,465 shares during the period. Oakbrook Investments LLC raised its position in The Charles Schwab Corporation by 77.7% in the second quarter. Oakbrook Investments LLC now owns 93,200 shares of the financial services provider’s stock worth $4,004,000 after buying an additional 40,750 shares during the period. Whittier Trust Co. of Nevada Inc. raised its position in The Charles Schwab Corporation by 4.3% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 79,975 shares of the financial services provider’s stock worth $3,435,000 after buying an additional 3,274 shares during the period. Whittier Trust Co. raised its position in The Charles Schwab Corporation by 2.2% in the second quarter. Whittier Trust Co. now owns 175,732 shares of the financial services provider’s stock worth $7,547,000 after buying an additional 3,833 shares during the period. Finally, US Bancorp DE raised its position in The Charles Schwab Corporation by 4.7% in the second quarter. US Bancorp DE now owns 1,125,013 shares of the financial services provider’s stock worth $48,331,000 after buying an additional 50,324 shares during the period. Hedge funds and other institutional investors own 79.02% of the company’s stock.

The Charles Schwab Corporation Company Profile

The Charles Schwab Corporation (CSC) is a savings and loan holding company. The Company, through its subsidiaries, engages in wealth management, securities brokerage, banking, money management and financial advisory services. The Company provides financial services to individuals and institutional clients through two segments: Investor Services and Advisor Services.

Analyst Recommendations for The Charles Schwab Corporation (NYSE:SCHW)

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