The Charles Schwab Co. (NYSE:SCHW) Shares Sold by Community Financial Services Group LLC

Community Financial Services Group LLC decreased its position in shares of The Charles Schwab Co. (NYSE:SCHW) by 9.4% during the 4th quarter, HoldingsChannel reports. The fund owned 59,781 shares of the financial services provider’s stock after selling 6,238 shares during the quarter. Community Financial Services Group LLC’s holdings in Charles Schwab were worth $4,424,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. N.E.W. Advisory Services LLC boosted its holdings in Charles Schwab by 1.7% in the 4th quarter. N.E.W. Advisory Services LLC now owns 7,522 shares of the financial services provider’s stock valued at $557,000 after purchasing an additional 125 shares during the last quarter. Stablepoint Partners LLC raised its position in shares of Charles Schwab by 1.1% during the 4th quarter. Stablepoint Partners LLC now owns 12,486 shares of the financial services provider’s stock valued at $924,000 after buying an additional 141 shares during the period. Alliance Wealth Advisors LLC grew its position in Charles Schwab by 2.7% in the third quarter. Alliance Wealth Advisors LLC now owns 5,358 shares of the financial services provider’s stock worth $347,000 after acquiring an additional 142 shares during the period. Index Fund Advisors Inc. increased its stake in Charles Schwab by 1.6% during the fourth quarter. Index Fund Advisors Inc. now owns 8,847 shares of the financial services provider’s stock worth $655,000 after acquiring an additional 143 shares during the last quarter. Finally, Michael S. Ryan Inc. raised its position in Charles Schwab by 2.5% in the fourth quarter. Michael S. Ryan Inc. now owns 5,998 shares of the financial services provider’s stock valued at $444,000 after purchasing an additional 144 shares during the period. Hedge funds and other institutional investors own 84.38% of the company’s stock.

Wall Street Analysts Forecast Growth

SCHW has been the subject of a number of recent analyst reports. Truist Financial raised their price objective on Charles Schwab from $90.00 to $91.00 and gave the stock a “buy” rating in a research report on Tuesday. Cowen raised their target price on Charles Schwab from $69.00 to $75.00 and gave the company a “hold” rating in a report on Tuesday, October 15th. Bank of America cut their price target on shares of Charles Schwab from $63.00 to $61.00 and set an “underperform” rating on the stock in a research note on Wednesday, October 16th. Citigroup lifted their price objective on shares of Charles Schwab from $80.00 to $85.00 and gave the company a “neutral” rating in a report on Wednesday, January 22nd. Finally, Piper Sandler increased their target price on shares of Charles Schwab from $65.00 to $70.00 and gave the stock a “neutral” rating in a report on Tuesday, January 7th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $84.56.

Charles Schwab Trading Up 2.9 %

Shares of Charles Schwab stock opened at $83.51 on Wednesday. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 0.59. The company has a fifty day simple moving average of $77.99 and a 200-day simple moving average of $71.99. The stock has a market cap of $148.61 billion, a price-to-earnings ratio of 27.93, a PEG ratio of 1.02 and a beta of 0.99. The Charles Schwab Co. has a 12-month low of $61.01 and a 12-month high of $84.50.

Charles Schwab (NYSE:SCHW) last issued its quarterly earnings data on Tuesday, January 21st. The financial services provider reported $1.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.90 by $0.11. Charles Schwab had a return on equity of 18.20% and a net margin of 30.31%. The company had revenue of $5.33 billion for the quarter, compared to analyst estimates of $5.19 billion. During the same quarter last year, the company posted $0.68 earnings per share. The business’s quarterly revenue was up 19.5% compared to the same quarter last year. On average, equities analysts forecast that The Charles Schwab Co. will post 4.18 EPS for the current fiscal year.

Charles Schwab Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Friday, February 14th will be paid a $0.27 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $1.08 dividend on an annualized basis and a yield of 1.29%. This is a boost from Charles Schwab’s previous quarterly dividend of $0.25. Charles Schwab’s payout ratio is currently 33.44%.

Insider Activity

In related news, General Counsel Peter J. Morgan III sold 14,643 shares of the firm’s stock in a transaction dated Wednesday, January 22nd. The stock was sold at an average price of $80.70, for a total transaction of $1,181,690.10. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Jonathan S. Beatty sold 2,300 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $82.01, for a total value of $188,623.00. Following the sale, the insider now directly owns 18,069 shares of the company’s stock, valued at approximately $1,481,838.69. This represents a 11.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 47,514 shares of company stock valued at $3,859,731. 6.60% of the stock is currently owned by company 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.