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Actionable news in SCHW: THE CHARLES SCHWAB CORPORATION,

Charles Schwab (SCHW) Stock Price Target Lowered at Jefferies

NEW YORK (TheStreet) -- Charles Schwab Corp. (SCHW - Get Report) stock price target was reduced to $33 from $34 at Jefferies, which also maintained its "buy" rating.

The San Francisco-based savings and loan holding company is engaged in wealth management, securities brokerage, banking, money management and financial advisory services.

Jefferies also decreased its fiscal 2016 earnings per share estimate to $1.24 from $1.27, reflecting the timing of future interest rate hikes. This is offset by the company's faster-than-expected balance sheet growth.

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