Analysts Maintain Buy Ratings for Charles Schwab Amid Insider Sales

San Francisco, CA – On May 22, 2023, Wells Fargo affirmed a Buy rating on Charles Schwab, setting a price target of $87.00. The firm reported that Schwab shares started today trading at $88.92.

Equity analyst Chris Brown, who covers the Financial sector, noted Schwab’s robust market presence along with companies such as KKR & Co, Invesco, and LPL Financial. Brown has achieved an average return of 12.9% with a 64.17% success rate on his stock recommendations.

The consensus among analysts for Charles Schwab remains a Strong Buy, with an average price target of $92.85, indicating a potential upside of 4.42%. TD Cowen also maintained a Buy rating, setting a higher price target of $113.00.

Schwab’s latest earnings report, released for the quarter ending March 31, showed a quarterly revenue of $6.65 billion and a net profit of $1.91 billion. This reflects growth from last year’s revenue of $6.45 billion and a net profit of $1.36 billion.

Despite the positive outlook, recent insider trading activity reflects concerns. A total of 122 insiders reported selling shares of Schwab in the past quarter, signaling negative sentiment. Notably, Walter Bettinger, Co-Chairman of Schwab, sold 191,523 shares earlier this month, worth $17.04 million.

The stock is facing scrutiny as the market mood turns cautious, even with its strong performance metrics.