Coastwise Capital Group LLC lifted its position in shares of The Charles Schwab Co. (NYSE:SCHW – Free Report) by 3.4% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 6,258 shares of the financial services provider’s stock after acquiring an additional 208 shares during the period. Coastwise Capital Group LLC’s holdings in Charles Schwab were worth $463,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also made changes to their positions in SCHW. Cibc World Market Inc. grew its holdings in Charles Schwab by 364.9% during the 4th quarter. Cibc World Market Inc. now owns 212,577 shares of the financial services provider’s stock valued at $15,733,000 after buying an additional 166,850 shares during the last quarter. Hixon Zuercher LLC lifted its position in shares of Charles Schwab by 1.1% in the fourth quarter. Hixon Zuercher LLC now owns 50,001 shares of the financial services provider’s stock valued at $3,701,000 after acquiring an additional 567 shares in the last quarter. Crews Bank & Trust acquired a new stake in shares of Charles Schwab during the fourth quarter valued at $83,000. OLD National Bancorp IN increased its position in Charles Schwab by 6.0% during the 4th quarter. OLD National Bancorp IN now owns 13,203 shares of the financial services provider’s stock worth $977,000 after purchasing an additional 749 shares in the last quarter. Finally, Busey Bank lifted its holdings in Charles Schwab by 1.4% in the 4th quarter. Busey Bank now owns 220,607 shares of the financial services provider’s stock valued at $16,327,000 after purchasing an additional 3,025 shares in the last quarter. 84.38% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
A number of equities research analysts have recently commented on the stock. Bank of America lowered their price target on shares of Charles Schwab from $63.00 to $61.00 and set an “underperform” rating for the company in a report on Wednesday, October 16th. StockNews.com upgraded Charles Schwab from a “sell” rating to a “hold” rating in a report on Wednesday, October 16th. Jefferies Financial Group lifted their price objective on Charles Schwab from $84.00 to $94.00 and gave the company a “buy” rating in a research report on Monday, December 9th. JPMorgan Chase & Co. raised their price target on Charles Schwab from $87.00 to $93.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 7th. Finally, Keefe, Bruyette & Woods upped their price objective on shares of Charles Schwab from $81.00 to $93.00 and gave the company an “outperform” rating in a research note on Friday, December 20th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $84.11.
Charles Schwab Stock Performance
Shares of SCHW opened at $83.59 on Friday. The firm has a market cap of $148.76 billion, a price-to-earnings ratio of 27.96, a PEG ratio of 1.00 and a beta of 0.99. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 0.59. The business’s 50 day moving average is $77.94 and its two-hundred day moving average is $71.08. The Charles Schwab Co. has a 52-week low of $61.01 and a 52-week high of $83.84.
Charles Schwab (NYSE:SCHW – Get Free Report) last posted its quarterly earnings results on Tuesday, January 21st. The financial services provider reported $1.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.90 by $0.11. The firm had revenue of $5.33 billion for the quarter, compared to analysts’ expectations of $5.19 billion. Charles Schwab had a net margin of 30.31% and a return on equity of 18.20%. The firm’s quarterly revenue was up 19.5% on a year-over-year basis. During the same period in the prior year, the company posted $0.68 earnings per share. Analysts forecast that The Charles Schwab Co. will post 4.18 EPS for the current fiscal year.
Charles Schwab Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Friday, February 14th will be issued a $0.27 dividend. This is a positive change from Charles Schwab’s previous quarterly dividend of $0.25. This represents a $1.08 annualized dividend and a yield of 1.29%. The ex-dividend date is Friday, February 14th. Charles Schwab’s payout ratio is currently 33.44%.
Insider Buying and Selling at Charles Schwab
In other news, insider Jonathan S. Beatty sold 2,300 shares of the firm’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $82.01, for a total value of $188,623.00. Following the transaction, the insider now directly owns 18,069 shares in the company, valued at approximately $1,481,838.69. This trade represents a 11.29 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Christopher V. Dodds sold 9,284 shares of the stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $81.43, for a total transaction of $755,996.12. Following the sale, the director now owns 442,807 shares in the company, valued at approximately $36,057,774.01. This trade represents a 2.05 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 50,014 shares of company stock worth $4,052,281 over the last quarter. 6.60% of the stock is owned by corporate insiders.
Charles Schwab Company 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.
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