Bank of Marin Reduces Position in The Charles Schwab Co. (NYSE:SCHW)

Bank of Marin cut its holdings in shares of The Charles Schwab Co. (NYSE:SCHW) by 3.3% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 5,598 shares of the financial services provider’s stock after selling 192 shares during the quarter. Bank of Marin’s holdings in Charles Schwab were worth $414,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of SCHW. Prospera Private Wealth LLC bought a new position in Charles Schwab in the third quarter valued at about $31,000. Atala Financial Inc bought a new position in Charles Schwab in the fourth quarter valued at about $41,000. Knuff & Co LLC lifted its holdings in Charles Schwab by 1,309.3% in the fourth quarter. Knuff & Co LLC now owns 606 shares of the financial services provider’s stock valued at $45,000 after acquiring an additional 563 shares during the period. Financial Life Planners bought a new position in shares of Charles Schwab in the fourth quarter worth about $46,000. Finally, Whipplewood Advisors LLC bought a new position in shares of Charles Schwab in the fourth quarter worth about $46,000. Institutional investors own 84.38% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. TD Cowen raised Charles Schwab from a “hold” rating to a “buy” rating and raised their price objective for the stock from $88.00 to $103.00 in a research note on Tuesday, February 18th. Keefe, Bruyette & Woods raised their price objective on Charles Schwab from $81.00 to $93.00 and gave the stock an “outperform” rating in a research note on Friday, December 20th. Redburn Partners decreased 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. Piper Sandler raised their price objective on Charles Schwab from $65.00 to $70.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 7th. Finally, Barclays raised their price objective on Charles Schwab from $95.00 to $96.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 22nd. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $86.33.

Charles Schwab Stock Performance

NYSE SCHW opened at $77.52 on Wednesday. The stock has a market capitalization of $140.58 billion, a PE ratio of 25.93, a P/E/G ratio of 0.99 and a beta of 0.98. The business has a 50 day simple moving average of $78.65 and a two-hundred day simple moving average of $74.57. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.47 and a quick ratio of 0.47. The Charles Schwab Co. has a 1-year low of $61.01 and a 1-year high of $84.50.

Charles Schwab (NYSE:SCHW) last released its quarterly earnings results on Tuesday, January 21st. The financial services provider reported $1.01 earnings per share for the quarter, beating the consensus estimate of $0.90 by $0.11. The business had revenue of $5.33 billion during 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%. The firm’s revenue for the quarter was up 19.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.68 EPS. On average, research analysts predict that The Charles Schwab Co. will post 4.22 EPS for the current fiscal year.

Charles Schwab Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 14th were issued a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 1.39%. The ex-dividend date of this dividend was Friday, February 14th. This is a boost from Charles Schwab’s previous quarterly dividend of $0.25. Charles Schwab’s dividend payout ratio (DPR) is currently 36.12%.

Insider Buying and Selling at Charles Schwab

In other news, insider Paul V. Woolway sold 9,887 shares of Charles Schwab stock in a transaction that occurred 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 completion of the transaction, the insider now owns 47,931 shares in the company, valued at approximately $3,613,038.78. The trade was a 17.10 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Walter W. Bettinger sold 464,629 shares of Charles Schwab stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $81.91, for a total value of $38,057,761.39. Following the completion of the transaction, the chairman now owns 827,377 shares of the company’s stock, valued at approximately $67,770,450.07. This trade represents a 35.96 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 501,087 shares of company stock worth $40,952,233 in the last quarter. 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.