Courier Capital LLC bought a new stake in shares of The Charles Schwab Co. (NYSE:SCHW) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 32,694 shares of the financial services provider’s stock, valued at approximately $1,345,000.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Ironwood Investment Counsel LLC raised its stake in The Charles Schwab by 15.3% in the second quarter. Ironwood Investment Counsel LLC now owns 135,214 shares of the financial services provider’s stock worth $4,562,000 after buying an additional 17,943 shares in the last quarter. Brinker Capital Inc. boosted its holdings in The Charles Schwab by 13.8% in the second quarter. Brinker Capital Inc. now owns 65,501 shares of the financial services provider’s stock valued at $2,210,000 after purchasing an additional 7,964 shares during the last quarter. American International Group Inc. boosted its stake in shares of The Charles Schwab by 3.2% during the 2nd quarter. American International Group Inc. now owns 442,563 shares of the financial services provider’s stock worth $14,932,000 after acquiring an additional 13,843 shares in the last quarter. Pinnacle Bank boosted its stake in shares of The Charles Schwab by 23.1% during the 3rd quarter. Pinnacle Bank now owns 2,422 shares of the financial services provider’s stock worth $88,000 after acquiring an additional 455 shares in the last quarter. Finally, Sawtooth Solutions LLC boosted its stake in shares of The Charles Schwab by 16.2% during the 2nd quarter. Sawtooth Solutions LLC now owns 35,162 shares of the financial services provider’s stock worth $1,186,000 after acquiring an additional 4,915 shares in the last quarter. Institutional investors own 85.31% of the company’s stock.
SCHW has been the topic of a number of research reports. Bank of America raised their price target on shares of The Charles Schwab from $40.00 to $42.00 and gave the company a “neutral” rating in a research note on Friday, October 16th. Raymond James reaffirmed a “hold” rating on shares of The Charles Schwab in a research report on Thursday, August 6th. Citigroup lifted their price objective on shares of The Charles Schwab from $38.00 to $38.50 and gave the stock a “neutral” rating in a research report on Wednesday, July 22nd. Argus lifted their price target on shares of The Charles Schwab from $42.00 to $50.00 in a research note on Friday, October 16th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of The Charles Schwab from a “hold” rating to a “buy” rating and lifted their price objective for the company from $43.00 to $53.00 in a research note on Wednesday, November 11th. Ten analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $46.27.
In other news, Chairman Charles R. Schwab sold 66,288 shares of the stock in a transaction that occurred on Thursday, October 29th. The stock was sold at an average price of $37.74, for a total value of $2,501,709.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Peter J. Morgan III sold 3,521 shares of the stock in a transaction that occurred on Friday, November 6th. The stock was sold at an average price of $41.38, for a total value of $145,698.98. Following the completion of the transaction, the executive vice president now directly owns 8,358 shares of the company’s stock, valued at approximately $345,854.04. The disclosure for this sale can be found here. Insiders sold a total of 571,402 shares of company stock worth $25,804,230 over the last 90 days. Corporate insiders own 10.80% of the company’s stock.
NYSE:SCHW opened at $46.89 on Tuesday. The stock’s 50-day simple moving average is $39.91 and its 200 day simple moving average is $36.38. The Charles Schwab Co. has a twelve month low of $28.00 and a twelve month high of $51.65. The firm has a market capitalization of $60.42 billion, a PE ratio of 21.71 and a beta of 1.13. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.33.
The Charles Schwab (NYSE:SCHW) last issued its earnings results on Thursday, October 15th. The financial services provider reported $0.48 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.47 by $0.01. The business had revenue of $2.45 billion during the quarter, compared to the consensus estimate of $2.43 billion. The Charles Schwab had a return on equity of 14.02% and a net margin of 29.80%. The firm’s revenue for the quarter was down 9.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.70 earnings per share. On average, analysts anticipate that The Charles Schwab Co. will post 2.17 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 27th. Investors of record on Friday, November 13th will be paid a dividend of $0.18 per share. The ex-dividend date of this dividend is Thursday, November 12th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.54%. The Charles Schwab’s payout ratio is 26.47%.
The Charles Schwab Company Profile
The Charles Schwab Corporation, through its subsidiaries, provides wealth management, securities brokerage, banking, asset management, custody, and financial advisory services. The company operates through two segments, Investor Services and Advisor Services. The Investor Services segment provides retail brokerage and banking services, retirement plan services, and other corporate brokerage services; equity compensation plan sponsors full-service recordkeeping for stock plans, stock options, restricted stock, performance shares, and stock appreciation rights; and retail investor, retirement plan, and mutual fund clearing services.
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