The Charles Schwab Co. (NYSE:SCHW) Shares Acquired by Busey Bank

Busey Bank lifted its holdings in The Charles Schwab Co. (NYSE:SCHW) by 2.1% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 217,582 shares of the financial services provider’s stock after purchasing an additional 4,457 shares during the quarter. Busey Bank’s holdings in Charles Schwab were worth $14,101,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Country Trust Bank acquired a new position in shares of Charles Schwab during the second quarter valued at about $26,000. American Capital Advisory LLC purchased a new position in shares of Charles Schwab in the second quarter worth $27,000. Fortitude Family Office LLC lifted its stake in shares of Charles Schwab by 97.5% during the second quarter. Fortitude Family Office LLC now owns 389 shares of the financial services provider’s stock worth $29,000 after buying an additional 192 shares during the period. CGC Financial Services LLC purchased a new stake in shares of Charles Schwab during the second quarter valued at $29,000. Finally, Mizuho Securities Co. Ltd. acquired a new position in shares of Charles Schwab in the 2nd quarter valued at $29,000. 84.38% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Charles Schwab

In other Charles Schwab news, Chairman Charles R. Schwab sold 67,386 shares of the stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $65.11, for a total transaction of $4,387,502.46. Following the completion of the transaction, the chairman now owns 60,619,371 shares of the company’s stock, valued at $3,946,927,245.81. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Paul V. Woolway sold 1,150 shares of the stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $65.20, for a total value of $74,980.00. Following the completion of the sale, the insider now owns 61,887 shares of the company’s stock, valued at approximately $4,035,032.40. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Charles R. Schwab sold 67,386 shares of the company’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $65.11, for a total value of $4,387,502.46. Following the completion of the transaction, the chairman now owns 60,619,371 shares in the company, valued at $3,946,927,245.81. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 182,001 shares of company stock valued at $12,512,592. 6.60% of the stock is owned by corporate insiders.

Charles Schwab Stock Performance

Shares of SCHW stock opened at $72.59 on Friday. The company has a market capitalization of $129.01 billion, a P/E ratio of 30.37, a P/E/G ratio of 1.63 and a beta of 0.97. The Charles Schwab Co. has a 12-month low of $48.66 and a 12-month high of $79.49. The business’s 50 day moving average is $65.45 and its two-hundred day moving average is $69.50. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 0.65.

Charles Schwab (NYSE:SCHW) last announced its earnings results on Tuesday, October 15th. The financial services provider reported $0.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.75 by $0.02. The firm had revenue of $4.85 billion for the quarter, compared to analyst estimates of $4.78 billion. Charles Schwab had a return on equity of 17.52% and a net margin of 27.47%. The business’s revenue was up 5.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.77 EPS. Analysts expect that The Charles Schwab Co. will post 3.11 EPS for the current fiscal year.

Charles Schwab Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Friday, November 8th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, November 8th. This represents a $1.00 annualized dividend and a dividend yield of 1.38%. Charles Schwab’s dividend payout ratio (DPR) is presently 41.84%.

Analyst Ratings Changes

Several analysts have weighed in on SCHW shares. Citigroup dropped their price target on Charles Schwab from $75.00 to $72.00 and set a “neutral” rating on the stock in a research note on Friday, September 27th. JPMorgan Chase & Co. increased their price target on shares of Charles Schwab from $86.00 to $87.00 and gave the stock an “overweight” rating in a report on Wednesday, October 16th. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Charles Schwab from $77.00 to $76.00 in a research note on Tuesday, October 15th. Raymond James cut their price objective on shares of Charles Schwab from $76.00 to $73.00 in a research note on Tuesday, October 15th. Finally, Piper Sandler boosted their target price on shares of Charles Schwab from $64.00 to $65.00 and gave the company a “neutral” rating in a research report on Wednesday, October 16th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $73.94.

About Charles Schwab

The Charles Schwab Corporation, together with its subsidiaries, operates as a savings and loan holding company that provides wealth management, securities brokerage, banking, asset management, custody, and financial advisory services in the United States and internationally. The company operates in two segments, Investor Services and Advisor Services.