Banco de Sabadell S.A bought a new stake in Charles Schwab Co. (NYSE:SCHW) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 14,840 shares of the financial services provider’s stock, valued at approximately $762,000.
A number of other hedge funds and other institutional investors have also recently modified their holdings of SCHW. Raymond James Financial Services Advisors Inc. boosted its position in Charles Schwab by 1.7% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 76,544 shares of the financial services provider’s stock valued at $3,348,000 after buying an additional 1,313 shares during the last quarter. New York State Common Retirement Fund boosted its position in Charles Schwab by 4.3% in the third quarter. New York State Common Retirement Fund now owns 4,419,155 shares of the financial services provider’s stock valued at $193,294,000 after buying an additional 182,930 shares during the last quarter. Cambridge Investment Research Advisors Inc. lifted its holdings in Charles Schwab by 36.9% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 19,336 shares of the financial services provider’s stock valued at $846,000 after acquiring an additional 5,210 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Charles Schwab by 3.7% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 266,614 shares of the financial services provider’s stock valued at $11,662,000 after acquiring an additional 9,450 shares during the period. Finally, Norinchukin Bank The lifted its holdings in Charles Schwab by 10.4% in the third quarter. Norinchukin Bank The now owns 53,040 shares of the financial services provider’s stock valued at $2,320,000 after acquiring an additional 4,989 shares during the period. Hedge funds and other institutional investors own 80.54% of the company’s stock.
In related news, EVP Terri R. Kallsen sold 5,000 shares of the stock in a transaction on Thursday, March 1st. The stock was sold at an average price of $52.94, for a total value of $264,700.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Terri R. Kallsen sold 2,026 shares of the stock in a transaction on Wednesday, January 3rd. The shares were sold at an average price of $51.30, for a total value of $103,933.80. Following the completion of the transaction, the executive vice president now directly owns 1,706 shares of the company’s stock, valued at $87,517.80. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 922,251 shares of company stock valued at $50,343,908. Corporate insiders own 12.00% of the company’s stock.
Charles Schwab (NYSE:SCHW) last announced its 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 business had revenue of $2.24 billion during the quarter, compared to the consensus estimate of $2.24 billion. Charles Schwab had a return on equity of 16.03% and a net margin of 27.32%. The business’s quarterly revenue was up 13.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.36 EPS. research analysts anticipate that Charles Schwab Co. will post 2.4 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, February 23rd. Stockholders of record on Friday, February 9th were paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 0.78%. This is an increase from Charles Schwab’s previous quarterly dividend of $0.08. The ex-dividend date of this dividend was Thursday, February 8th. Charles Schwab’s dividend payout ratio is presently 24.84%.
A number of research analysts have issued reports on SCHW shares. Argus boosted their price target on Charles Schwab from $59.00 to $69.00 and gave the company a “buy” rating in a report on Thursday, January 18th. Credit Suisse Group started coverage on Charles Schwab in a report on Thursday, November 30th. They issued an “outperform” rating and a $55.00 price target for the company. Zacks Investment Research raised Charles Schwab from a “hold” rating to a “strong-buy” rating and set a $60.00 price target for the company in a report on Friday, January 5th. SunTrust Banks reissued a “buy” rating and issued a $63.00 price target (up from $56.00) on shares of Charles Schwab in a report on Tuesday, December 26th. Finally, Citigroup downgraded Charles Schwab from a “neutral” rating to a “sell” rating and set a $49.00 price target for the company. in a report on Wednesday, February 7th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and nine have issued a buy rating to the stock. Charles Schwab has a consensus rating of “Hold” and a consensus target price of $54.64.
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Charles Schwab Profile
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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