State of Tennessee Treasury Department boosted its holdings in Charles Schwab Corp (NYSE:SCHW) by 34.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,144,594 shares of the financial services provider’s stock after acquiring an additional 295,316 shares during the period. State of Tennessee Treasury Department owned about 0.09% of Charles Schwab worth $58,798,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also modified their holdings of the company. Bogart Wealth LLC raised its holdings in shares of Charles Schwab by 1,100.0% during the fourth quarter. Bogart Wealth LLC now owns 2,040 shares of the financial services provider’s stock valued at $105,000 after buying an additional 1,870 shares during the last quarter. Zions Bancorporation raised its holdings in shares of Charles Schwab by 1,545.3% during the third quarter. Zions Bancorporation now owns 3,817 shares of the financial services provider’s stock valued at $167,000 after buying an additional 3,585 shares during the last quarter. Acadian Asset Management LLC bought a new stake in shares of Charles Schwab during the fourth quarter valued at approximately $187,000. Lourd Capital LLC bought a new stake in shares of Charles Schwab during the fourth quarter valued at approximately $208,000. Finally, Fiduciary Trust Co. bought a new stake in shares of Charles Schwab during the fourth quarter valued at approximately $208,000. 80.45% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Charles Schwab Corp (SCHW) opened at $52.69 on Wednesday. Charles Schwab Corp has a twelve month low of $37.16 and a twelve month high of $56.25. The company has a market capitalization of $69,937.85, a P/E ratio of 32.51, a P/E/G ratio of 1.29 and a beta of 1.63. The company has a current ratio of 0.31, a quick ratio of 0.30 and a debt-to-equity ratio of 0.21.
Charles Schwab (NYSE:SCHW) last announced its earnings results on Wednesday, January 17th. The financial services provider reported $0.44 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.41 by $0.03. Charles Schwab had a return on equity of 16.31% and a net margin of 27.32%. The firm had revenue of $2.24 billion for the quarter, compared to analysts’ expectations of $2.24 billion. During the same quarter in the previous year, the company earned $0.36 earnings per share. The firm’s quarterly revenue was up 13.7% compared to the same quarter last year. analysts expect that Charles Schwab Corp will post 2.39 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, February 23rd. Investors of record on Friday, February 9th will be issued a dividend of $0.10 per share. This is a boost from Charles Schwab’s previous quarterly dividend of $0.08. The ex-dividend date is Thursday, February 8th. This represents a $0.40 annualized dividend and a yield of 0.76%. Charles Schwab’s payout ratio is presently 24.84%.
A number of equities research analysts have recently weighed in on SCHW shares. Zacks Investment Research raised Charles Schwab from a “hold” rating to a “strong-buy” rating and set a $60.00 price target on the stock in a report on Friday, January 5th. Wells Fargo & Co reaffirmed a “market perform” rating and set a $55.00 price target (up previously from $47.00) on shares of Charles Schwab in a report on Thursday, January 4th. SunTrust Banks reaffirmed a “buy” rating and set a $63.00 price target (up previously from $56.00) on shares of Charles Schwab in a report on Tuesday, December 26th. Credit Suisse Group reaffirmed a “buy” rating and set a $64.00 price target (up previously from $55.00) on shares of Charles Schwab in a report on Friday, January 12th. Finally, Deutsche Bank lifted their price target on Charles Schwab from $46.00 to $47.00 and gave the company a “hold” rating in a report on Wednesday, October 25th. One research analyst has rated the stock with a sell rating, six have given a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $53.88.
In other Charles Schwab news, insider Marie A. Chandoha sold 56,327 shares of Charles Schwab stock in a transaction that occurred on Monday, November 27th. The shares were sold at an average price of $45.86, for a total value of $2,583,156.22. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Walter W. Bettinger sold 262,309 shares of Charles Schwab stock in a transaction that occurred on Wednesday, November 29th. The stock was sold at an average price of $48.15, for a total transaction of $12,630,178.35. Following the completion of the transaction, the insider now owns 539,773 shares in the company, valued at approximately $25,990,069.95. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,723,394 shares of company stock worth $89,004,177. 12.00% of the stock is owned by corporate insiders.
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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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