Greenleaf Trust boosted its stake in Charles Schwab Corp (NYSE:SCHW) by 385.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,955 shares of the financial services provider’s stock after purchasing an additional 3,934 shares during the period. Greenleaf Trust’s holdings in Charles Schwab were worth $255,000 at the end of the most recent reporting period.
A number of other institutional investors also recently made changes to their positions in the business. WINTON GROUP Ltd purchased a new position in shares of Charles Schwab during the second quarter valued at approximately $368,000. Gs Investments Inc. purchased a new position in shares of Charles Schwab during the second quarter valued at approximately $1,487,000. Perigon Wealth Management LLC increased its stake in shares of Charles Schwab by 66.6% during the second quarter. Perigon Wealth Management LLC now owns 27,367 shares of the financial services provider’s stock valued at $1,176,000 after buying an additional 10,940 shares during the period. Eqis Capital Management Inc. purchased a new position in shares of Charles Schwab during the third quarter valued at approximately $313,000. Finally, Tompkins Financial Corp increased its stake in shares of Charles Schwab by 5,021.4% during the third quarter. Tompkins Financial Corp now owns 9,833 shares of the financial services provider’s stock valued at $430,000 after buying an additional 9,641 shares during the period. 79.47% of the stock is currently owned by institutional investors and hedge funds.
Shares of Charles Schwab Corp (NYSE:SCHW) opened at $52.17 on Friday. The firm has a market capitalization of $70,152.34, a price-to-earnings ratio of 31.91, a P/E/G ratio of 1.29 and a beta of 1.63. Charles Schwab Corp has a 12 month low of $37.16 and a 12 month high of $56.25. The company has a quick ratio of 0.30, a current ratio of 0.31 and a debt-to-equity ratio of 0.21.
Charles Schwab (NYSE:SCHW) last issued its quarterly earnings results on Wednesday, January 17th. The financial services provider reported $0.44 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.41 by $0.03. The company had revenue of $2.24 billion for the quarter, compared to analysts’ expectations of $2.24 billion. Charles Schwab had a return on equity of 16.31% and a net margin of 27.32%. The firm’s revenue for the quarter was up 13.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.36 earnings per share. analysts predict that Charles Schwab Corp will post 2.39 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, February 23rd. Investors of record on Friday, February 9th will be paid a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 0.77%. This is a boost from Charles Schwab’s previous quarterly dividend of $0.08. The ex-dividend date is Thursday, February 8th. Charles Schwab’s dividend payout ratio is presently 24.84%.
In related news, EVP Bernard J. Clark sold 50,444 shares of the company’s stock in a transaction on Monday, December 4th. The stock was sold at an average price of $50.52, for a total value of $2,548,430.88. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Peter B. Crawford sold 12,459 shares of the company’s stock in a transaction on Tuesday, December 5th. The stock was sold at an average price of $51.58, for a total value of $642,635.22. Following the completion of the sale, the chief financial officer now directly owns 7,652 shares in the company, valued at $394,690.16. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,733,394 shares of company stock worth $89,462,077. 12.00% of the stock is owned by insiders.
Several equities analysts have recently issued reports on the company. Credit Suisse Group reduced their target price on Charles Schwab from $70.00 to $69.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 7th. Citigroup cut Charles Schwab from a “neutral” rating to a “sell” rating and set a $49.00 target price on the stock. in a research note on Wednesday, February 7th. Morgan Stanley boosted their target price on Charles Schwab from $61.00 to $63.00 and gave the company an “overweight” rating in a research note on Tuesday, January 30th. SunTrust Banks reissued a “buy” rating on shares of Charles Schwab in a research note on Wednesday. Finally, Nomura reissued a “neutral” rating and set a $54.00 target price (up from $50.00) on shares of Charles Schwab in a research note on Thursday, January 18th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $53.88.
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Charles Schwab Company Profile
The Charles Schwab Corporation (CSC) is a savings and loan holding company. The Company, through its subsidiaries, engages in wealth management, securities brokerage, banking, money management and financial advisory services. The Company provides financial services to individuals and institutional clients through two segments: Investor Services and Advisor Services.
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