Sandy Spring Bank Has $9.04 Million Stake in The Charles Schwab Co. (NYSE:SCHW)

Sandy Spring Bank trimmed its position in shares of The Charles Schwab Co. (NYSE:SCHW) by 4.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 122,113 shares of the financial services provider’s stock after selling 5,321 shares during the quarter. Sandy Spring Bank’s holdings in Charles Schwab were worth $9,038,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in SCHW. Primecap Management Co. CA lifted its holdings in shares of Charles Schwab by 310.3% during the 4th quarter. Primecap Management Co. CA now owns 4,252,350 shares of the financial services provider’s stock valued at $314,716,000 after buying an additional 3,216,000 shares during the last quarter. Franklin Resources Inc. lifted its holdings in shares of Charles Schwab by 15.0% during the 3rd quarter. Franklin Resources Inc. now owns 24,261,234 shares of the financial services provider’s stock valued at $1,644,674,000 after buying an additional 3,157,923 shares during the last quarter. Raymond James Financial Inc. bought a new position in shares of Charles Schwab in the 4th quarter valued at approximately $189,791,000. Veritas Asset Management LLP bought a new position in shares of Charles Schwab in the 4th quarter valued at approximately $185,649,000. Finally, Massachusetts Financial Services Co. MA raised its stake in shares of Charles Schwab by 6.3% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 28,679,305 shares of the financial services provider’s stock valued at $1,858,706,000 after acquiring an additional 1,711,312 shares in the last quarter. 84.38% of the stock is currently owned by institutional investors and hedge funds.

Charles Schwab Stock Performance

SCHW opened at $78.72 on Thursday. The stock has a market cap of $142.76 billion, a PE ratio of 26.33, a P/E/G ratio of 0.99 and a beta of 0.98. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 0.59. The Charles Schwab Co. has a 1 year low of $61.01 and a 1 year high of $84.50. The stock’s 50 day simple moving average is $78.76 and its 200-day simple moving average is $74.60.

Charles Schwab (NYSE:SCHW) last released its quarterly earnings data on Tuesday, January 21st. The financial services provider reported $1.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.90 by $0.11. The business had revenue of $5.33 billion for the quarter, compared to analysts’ expectations of $5.19 billion. Charles Schwab had a return on equity of 18.20% and a net margin of 30.31%. Charles Schwab’s quarterly revenue was up 19.5% on a year-over-year basis. During the same period in the previous year, the business posted $0.68 earnings per share. Sell-side analysts forecast that The Charles Schwab Co. will post 4.22 EPS for the current year.

Charles Schwab Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 14th were paid a $0.27 dividend. This is a positive change from Charles Schwab’s previous quarterly dividend of $0.25. The ex-dividend date was Friday, February 14th. This represents a $1.08 annualized dividend and a yield of 1.37%. Charles Schwab’s payout ratio is currently 36.12%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on SCHW shares. Piper Sandler raised their price objective on Charles Schwab from $65.00 to $70.00 and gave the company a “neutral” rating in a research note on Tuesday, January 7th. Citigroup raised their price objective on Charles Schwab from $80.00 to $85.00 and gave the company a “neutral” rating in a research note on Wednesday, January 22nd. Deutsche Bank Aktiengesellschaft raised their price objective on Charles Schwab from $98.00 to $105.00 and gave the company a “buy” rating in a research note on Wednesday, January 22nd. Redburn Partners cut their price objective on Charles Schwab from $70.00 to $68.00 and set a “sell” rating on the stock in a research note on Friday, January 17th. Finally, Jefferies Financial Group lifted their price target on Charles Schwab from $84.00 to $94.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, Charles Schwab presently has a consensus rating of “Hold” and an average target price of $86.33.

Insider Activity at Charles Schwab

In related news, insider Paul V. Woolway sold 9,887 shares of the business’s stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $75.38, for a total value of $745,282.06. Following the sale, the insider now owns 47,931 shares of the company’s stock, valued at $3,613,038.78. The trade was a 17.10 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Arun Sarin sold 8,548 shares of the business’s stock in a transaction on Thursday, January 23rd. The shares were sold at an average price of $81.82, for a total value of $699,397.36. Following the completion of the sale, the director now directly owns 18,617 shares in the company, valued at approximately $1,523,242.94. This represents a 31.47 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 501,087 shares of company stock valued at $40,952,233 in the last 90 days. 6.60% of the stock is owned by corporate insiders.

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.