Westpac Banking Corp grew its position in Charles Schwab Co. (NYSE:SCHW) by 65.0% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 401,379 shares of the financial services provider’s stock after purchasing an additional 158,167 shares during the quarter. Westpac Banking Corp’s holdings in Charles Schwab were worth $17,163,000 at the end of the most recent reporting period.
Several other large investors have also recently modified their holdings of the company. Laurel Wealth Advisors LLC purchased a new stake in shares of Charles Schwab in the fourth quarter valued at about $31,000. Quantamental Technologies LLC bought a new position in shares of Charles Schwab during the 1st quarter valued at approximately $32,000. Proficio Capital Partners LLC boosted its position in shares of Charles Schwab by 70.2% during the 4th quarter. Proficio Capital Partners LLC now owns 1,028 shares of the financial services provider’s stock valued at $43,000 after acquiring an additional 424 shares during the last quarter. Berman Capital Advisors LLC boosted its position in shares of Charles Schwab by 260.7% during the 1st quarter. Berman Capital Advisors LLC now owns 1,046 shares of the financial services provider’s stock valued at $44,000 after acquiring an additional 756 shares during the last quarter. Finally, Clearbridge LLC boosted its position in shares of Charles Schwab by 75.1% during the 4th quarter. Clearbridge LLC now owns 1,096 shares of the financial services provider’s stock valued at $46,000 after acquiring an additional 470 shares during the last quarter. Institutional investors own 78.96% of the company’s stock.
A number of analysts recently issued reports on SCHW shares. Zacks Investment Research upgraded Charles Schwab from a “hold” rating to a “buy” rating and set a $49.00 price target for the company in a research report on Wednesday, March 13th. ValuEngine upgraded Charles Schwab from a “sell” rating to a “hold” rating in a research report on Tuesday, April 16th. Wells Fargo & Co lowered their price target on Charles Schwab from $48.00 to $47.00 and set a “market perform” rating for the company in a research report on Friday, April 5th. Deutsche Bank lowered their price target on Charles Schwab from $54.00 to $53.00 and set a “buy” rating for the company in a research report on Friday, March 15th. Finally, Bank of America set a $50.00 price target on Charles Schwab and gave the stock a “buy” rating in a research report on Tuesday, April 9th. One research analyst has rated the stock with a sell rating, four have given a hold rating and ten have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $52.70.
SCHW traded down $0.54 during trading on Wednesday, reaching $42.31. The company had a trading volume of 439,402 shares, compared to its average volume of 6,638,212. The company has a quick ratio of 0.33, a current ratio of 0.33 and a debt-to-equity ratio of 0.36. Charles Schwab Co. has a 52 week low of $37.83 and a 52 week high of $58.22. The company has a market cap of $57.82 billion, a PE ratio of 17.23, a P/E/G ratio of 1.97 and a beta of 1.35.
Charles Schwab (NYSE:SCHW) last released its earnings results on Monday, April 15th. The financial services provider reported $0.69 earnings per share for the quarter, topping analysts’ consensus estimates of $0.66 by $0.03. Charles Schwab had a return on equity of 20.47% and a net margin of 35.27%. The business had revenue of $2.72 billion for the quarter, compared to analyst estimates of $2.67 billion. During the same quarter last year, the firm posted $0.55 earnings per share. The business’s revenue was up 13.6% compared to the same quarter last year. As a group, research analysts anticipate that Charles Schwab Co. will post 2.77 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 29th. Shareholders of record on Wednesday, May 15th were paid a $0.17 dividend. The ex-dividend date was Tuesday, May 14th. This represents a $0.68 dividend on an annualized basis and a yield of 1.61%. Charles Schwab’s payout ratio is 27.76%.
In other Charles Schwab news, Director Stephen T. Mclin sold 4,356 shares of the stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $43.85, for a total value of $191,010.60. Following the sale, the director now owns 7,592 shares in the company, valued at $332,909.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Jonathan M. Craig sold 3,740 shares of the stock in a transaction on Monday, April 15th. The stock was sold at an average price of $46.52, for a total value of $173,984.80. Following the completion of the sale, the executive vice president now owns 66,190 shares in the company, valued at approximately $3,079,158.80. The disclosure for this sale can be found here. In the last quarter, insiders sold 841,576 shares of company stock worth $38,416,671. Insiders own 10.90% of the company’s stock.
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About Charles Schwab
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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