The Charles Schwab Co. (NYSE:SCHW) Holdings Raised by United Bank

United Bank boosted its stake in The Charles Schwab Co. (NYSE:SCHW) by 13.0% in the third quarter, Holdings Channel reports. The institutional investor owned 11,352 shares of the financial services provider’s stock after acquiring an additional 1,309 shares during the quarter. United Bank’s holdings in Charles Schwab were worth $736,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Capital Performance Advisors LLP purchased a new stake in Charles Schwab in the 3rd quarter worth approximately $25,000. Country Trust Bank bought a new position in shares of Charles Schwab during the 2nd quarter valued at $26,000. American Capital Advisory LLC bought a new position in shares of Charles Schwab during the 2nd quarter valued at $27,000. Fortitude Family Office LLC raised its holdings in shares of Charles Schwab by 97.5% during the 2nd quarter. Fortitude Family Office LLC now owns 389 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 192 shares in the last quarter. Finally, CGC Financial Services LLC bought a new position in shares of Charles Schwab during the 2nd quarter valued at $29,000. Hedge funds and other institutional investors own 84.38% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on SCHW shares. Jefferies Financial Group cut their price target on shares of Charles Schwab from $79.00 to $73.00 and set a “buy” rating on the stock in a report on Friday, October 4th. Citigroup cut their price target on shares of Charles Schwab from $75.00 to $72.00 and set a “neutral” rating on the stock in a report on Friday, September 27th. Bank of America cut their price target on shares of Charles Schwab from $63.00 to $61.00 and set an “underperform” rating on the stock in a report on Wednesday, October 16th. The Goldman Sachs Group raised their price target on shares of Charles Schwab from $67.00 to $74.00 and gave the company a “neutral” rating in a report on Wednesday, October 16th. Finally, Wells Fargo & Company raised their target price on shares of Charles Schwab from $70.00 to $75.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 16th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, Charles Schwab currently has a consensus rating of “Hold” and a consensus target price of $73.94.

Charles Schwab Price Performance

Shares of Charles Schwab stock opened at $73.89 on Friday. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.42 and a current ratio of 0.42. The firm’s 50-day simple moving average is $67.24 and its 200-day simple moving average is $69.52. The Charles Schwab Co. has a twelve month low of $53.49 and a twelve month high of $79.49. The firm has a market cap of $131.41 billion, a P/E ratio of 28.86, a price-to-earnings-growth ratio of 1.74 and a beta of 0.96.

Charles Schwab (NYSE:SCHW) last issued its earnings results on Tuesday, October 15th. The financial services provider reported $0.77 earnings per share for the quarter, beating the consensus estimate of $0.75 by $0.02. Charles Schwab had a net margin of 27.47% and a return on equity of 17.52%. The business had revenue of $4.85 billion for the quarter, compared to analyst estimates of $4.78 billion. During the same period in the previous year, the business earned $0.77 EPS. The firm’s revenue was up 5.2% on a year-over-year basis. As a group, research 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 announced a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Friday, November 8th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.35%. The ex-dividend date is Friday, November 8th. Charles Schwab’s dividend payout ratio is presently 39.06%.

Insiders Place Their Bets

In other news, Director Carolyn Schwab-Pomerantz sold 9,000 shares of Charles Schwab stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $64.05, for a total transaction of $576,450.00. Following the completion of the sale, the director now owns 554,929 shares in the company, valued at $35,543,202.45. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, Director Carolyn Schwab-Pomerantz sold 9,000 shares of Charles Schwab stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $64.05, for a total transaction of $576,450.00. Following the completion of the sale, the director now owns 554,929 shares in the company, valued at $35,543,202.45. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Chairman Charles R. Schwab sold 62,345 shares of Charles Schwab stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $72.52, for a total transaction of $4,521,259.40. Following the sale, the chairman now owns 60,619,371 shares of the company’s stock, valued at approximately $4,396,116,784.92. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 113,465 shares of company stock valued at $8,050,109. Insiders own 6.60% of the company’s stock.

Charles Schwab Profile

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.