Charles Schwab Receives Buy Rating from Truist Financial

Truist Financial has reaffirmed its "buy" rating for Charles Schwab (NYSE:SCHW - Get Free Report), according to a recent research report released on Wednesday. The firm has increased its price target for the financial services provider from $86.00 to $90.00. This new target indicates a potential upside of 12.00% based on the stock's current trading price.

In addition to Truist's update, several analysts have recently shared their insights about Charles Schwab. On Wednesday, Wells Fargo & Company raised its rating from "equal weight" to "overweight" and set a new price target at $93.00, up from $89.00. Meanwhile, Cowen revised its price target from $69.00 to $75.00 while maintaining a "hold" rating on the stock. Conversely, Raymond James lowered its target price from $76.00 to $73.00.

Furthermore, Deutsche Bank also made adjustments, increasing their target price from $98.00 to $105.00 while keeping a "buy" rating. In contrast, Bank of America reduced its target price from $63.00 to $61.00 and issued an "underperform" rating for the stock. Currently, the consensus rating for Charles Schwab includes two sell ratings, seven hold ratings, and nine buy ratings. Overall, the consensus target price stands at $83.83 according to MarketBeat data.

Charles Schwab's Recent Stock Performance

On Wednesday, shares of Charles Schwab traded down by $0.58, bringing the price to $80.36. The trading volume reached 2,823,112 shares, which is considerably lower than the average volume of 9,078,963 shares. The firm has a market capitalization of $143 billion, with a P/E ratio of 31.39 and a debt-to-equity ratio of 0.59. The stock has seen a 1-year low of $61.01 and a 1-year high of $83.35.

Company Earnings Overview

Charles Schwab released its earnings results on January 21st, reporting earnings per share (EPS) of $1.01. This figure surpassed the analysts' consensus estimate of $0.90 by $0.11. The company's revenue for the quarter reached $5.33 billion, which also exceeded the consensus estimate. In comparison to the same quarter last year, Charles Schwab's revenue increased by 19.5%. The company forecasts that it will report an EPS of 3.16 for the current year.

Insider Trades

In recent insider activities, Jonathan S. Beatty sold 2,500 shares on November 11th for an average price of $77.02, bringing in a total of $192,550. Following this transaction, he holds 18,069 shares in the company. On a different note, Director Christopher V. Dodds sold 9,284 shares on November 18th, achieving a total value of $755,996.12. Together, insiders sold 26,823 shares worth $2,171,194 over the past ninety days, with insiders currently owning 6.60% of the stock.

Investors' Perspectives

Institutional investors hold 84.38% of Charles Schwab's stock, reflecting strong confidence in the company's future. For example, Washington Trust Advisors Inc. recently boosted its stake by 62.6%, now owning 387 shares valued at approximately $25,000. Other institutions, such as Capital Performance Advisors LLP, also entered new positions during the third quarter.

Company Profile

Charles Schwab Corporation, through its subsidiaries, operates as a savings and loan holding company. It provides a variety of financial services, including wealth management, securities brokerage, banking, asset management, custody, and financial advisory services, both domestically and internationally. The firm operates in two segments: Investor Services and Advisor Services.

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