Jefferies Sticks to Its Buy Rating for Charles Schwab

By Carrie Williams

In a report released yesterday, Ken Usdin from Jefferies reiterated a Buy rating on Charles Schwab (NYSE: SCHW), with a price target of $48. The company’s shares closed yesterday at $38.66.

According to, Usdin is a top 100 analyst with an average return of 19.0% and a 68.8% success rate. Usdin covers the Financial sector, focusing on stocks such as Government Properties Income Trust, Old National Bancorp Capital, and Discover Financial Services.

Charles Schwab has an analyst consensus of Strong Buy, with a price target consensus of $46.80.

Based on Charles Schwab’s latest earnings report for the quarter ending March 31, the company posted quarterly revenue of $2.14 billion and quarterly net profit of $564 million. In comparison, last year the company earned revenue of $1.8 billion and had a net profit of $412 million.

Based on the recent corporate insider activity of 101 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of SCHW in relation to earlier this year. Last month, Charles Schwab, the Chairman of SCHW sold 300,000 shares for a total of $12,075,000.

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The Charles Schwab Corp. is a holding company, which engages in the provision of financial services. It operates through the Investor Services and Advisor Services segments. The Investor Services segment includes retail and corporate brokerage and retirement plan services. The Advisor Services segment offers custodial, trading, retirement business, and support services. The company was founded by Charles R. Schwab in 1986 and is headquartered in San Francisco, CA.