Charles Schwab (NYSE:SCHW) Given New $46.00 Price Target at Morgan Stanley

Charles Schwab (NYSE:SCHW) had its target price decreased by Morgan Stanley from $53.00 to $46.00 in a report released on Thursday morning, BenzingaRatingsTable reports. Morgan Stanley currently has an overweight rating on the financial services provider’s stock.

Several other brokerages have also recently issued reports on SCHW. Wells Fargo & Co reaffirmed a hold rating on shares of AON in a research report on Friday, April 5th. ValuEngine cut Virtu Financial from a hold rating to a sell rating in a research report on Tuesday, June 18th. JPMorgan Chase & Co. set a $44.00 target price on Charles Schwab and gave the company a buy rating in a research report on Friday, June 21st. Compass Point set a $52.00 target price on E*TRADE Financial and gave the company a buy rating in a research report on Tuesday, July 2nd. Finally, Citigroup cut Apergy from a buy rating to a neutral rating and cut their target price for the company from $41.00 to $34.00 in a research report on Tuesday, July 9th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and eight have issued a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and a consensus price target of $48.53.

Shares of Charles Schwab stock opened at $40.13 on Thursday. The company has a quick ratio of 0.33, a current ratio of 0.33 and a debt-to-equity ratio of 0.36. Charles Schwab has a 52 week low of $37.83 and a 52 week high of $54.26. The firm has a 50 day moving average price of $41.43. The firm has a market capitalization of $54.01 billion, a PE ratio of 15.62, a PEG ratio of 1.89 and a beta of 1.23.

Charles Schwab (NYSE:SCHW) last announced its quarterly earnings data on Monday, April 15th. The financial services provider reported $0.69 EPS for the quarter, beating the Zacks’ consensus estimate of $0.66 by $0.03. Charles Schwab had a return on equity of 20.47% and a net margin of 35.27%. The firm had revenue of $2.72 billion during the quarter, compared to analysts’ expectations of $2.67 billion. During the same quarter last year, the firm posted $0.55 earnings per share. The company’s revenue for the quarter was up 13.6% compared to the same quarter last year. As a group, analysts expect that Charles Schwab will post 2.72 earnings per share for the current fiscal year.

In other Charles Schwab news, Director Charles A. Ruffel purchased 2,500 shares of the company’s stock in a transaction that occurred on Friday, May 3rd. The shares were acquired at an average cost of $46.10 per share, for a total transaction of $115,250.00. Following the completion of the acquisition, the director now owns 788 shares of the company’s stock, valued at approximately $36,326.80. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Jonathan M. Craig sold 3,740 shares of Charles Schwab stock in a transaction on Monday, April 15th. The stock was sold at an average price of $46.52, for a total value of $173,984.80. Following the sale, the executive vice president now owns 66,190 shares in the company, valued at $3,079,158.80. The disclosure for this sale can be found here. Insiders have sold 841,576 shares of company stock worth $38,416,671 over the last quarter. 10.90% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently modified their holdings of SCHW. West Oak Capital LLC raised its stake in shares of Charles Schwab by 3.9% in the second quarter. West Oak Capital LLC now owns 41,650 shares of the financial services provider’s stock valued at $1,674,000 after buying an additional 1,564 shares during the period. CENTRAL TRUST Co raised its stake in shares of Charles Schwab by 98.4% in the second quarter. CENTRAL TRUST Co now owns 79,634 shares of the financial services provider’s stock valued at $3,222,000 after buying an additional 39,494 shares during the period. Xact Kapitalforvaltning AB raised its stake in shares of Charles Schwab by 9.0% in the second quarter. Xact Kapitalforvaltning AB now owns 241,115 shares of the financial services provider’s stock valued at $9,690,000 after buying an additional 19,980 shares during the period. Addenda Capital Inc. raised its stake in shares of Charles Schwab by 2.2% in the second quarter. Addenda Capital Inc. now owns 95,437 shares of the financial services provider’s stock valued at $3,835,000 after buying an additional 2,072 shares during the period. Finally, Gofen & Glossberg LLC IL raised its stake in shares of Charles Schwab by 2.3% in the second quarter. Gofen & Glossberg LLC IL now owns 267,500 shares of the financial services provider’s stock valued at $10,751,000 after buying an additional 5,987 shares during the period. Institutional investors and hedge funds own 78.92% of the company’s stock.

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.

Further Reading: How is the discount rate different from the Federal Funds rate?

Analyst Recommendations for Charles Schwab (NYSE:SCHW)

Receive News & Ratings for Charles Schwab Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Charles Schwab and related companies with MarketBeat.com's FREE daily email newsletter.