Bridges Investment Management Inc. Grows Position in The Charles Schwab Co. (NYSE:SCHW)

Bridges Investment Management Inc. boosted its stake in The Charles Schwab Co. (NYSE:SCHW) by 27.6% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 28,140 shares of the financial services provider’s stock after buying an additional 6,085 shares during the period. Bridges Investment Management Inc.’s holdings in Charles Schwab were worth $1,824,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Washington Trust Advisors Inc. boosted its position in shares of Charles Schwab by 62.6% during the third quarter. Washington Trust Advisors Inc. now owns 387 shares of the financial services provider’s stock worth $25,000 after buying an additional 149 shares during the period. Capital Performance Advisors LLP purchased a new position in Charles Schwab during the 3rd quarter valued at about $25,000. Country Trust Bank acquired a new position in Charles Schwab in the 2nd quarter valued at about $26,000. American Capital Advisory LLC purchased a new stake in Charles Schwab during the second quarter worth about $27,000. Finally, Fortitude Family Office LLC lifted its position in shares of Charles Schwab by 97.5% during the second quarter. Fortitude Family Office LLC now owns 389 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 192 shares in the last quarter. Institutional investors and hedge funds own 84.38% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on SCHW. Morgan Stanley lifted their price objective on shares of Charles Schwab from $68.00 to $74.00 and gave the company an “equal weight” rating in a report on Thursday, October 24th. The Goldman Sachs Group increased their price objective on Charles Schwab from $67.00 to $74.00 and gave the company a “neutral” rating in a research note on Wednesday, October 16th. Keefe, Bruyette & Woods boosted their target price on Charles Schwab from $76.00 to $81.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. Wells Fargo & Company increased their price target on Charles Schwab from $70.00 to $75.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 16th. Finally, JPMorgan Chase & Co. boosted their price objective on Charles Schwab from $86.00 to $87.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $73.94.

Insider Buying and Selling

In other news, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the firm’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $64.05, for a total value of $576,450.00. Following the completion of the sale, the director now owns 554,929 shares in the company, valued at approximately $35,543,202.45. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Chairman Charles R. Schwab sold 62,345 shares of the stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $72.52, for a total value of $4,521,259.40. Following the completion of the transaction, the chairman now owns 60,619,371 shares in the company, valued at $4,396,116,784.92. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $64.05, for a total value of $576,450.00. Following the sale, the director now directly owns 554,929 shares in the company, valued at $35,543,202.45. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 113,465 shares of company stock valued at $8,050,109 over the last three months. 6.60% of the stock is currently owned by company insiders.

Charles Schwab Stock Up 1.3 %

SCHW opened at $73.90 on Friday. The Charles Schwab Co. has a one year low of $53.49 and a one year high of $79.49. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.42 and a current ratio of 0.42. The stock has a market capitalization of $131.43 billion, a P/E ratio of 28.87, a price-to-earnings-growth ratio of 1.74 and a beta of 0.96. The business’s 50-day simple moving average is $67.24 and its 200-day simple moving average is $69.52.

Charles Schwab (NYSE:SCHW) last issued its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $0.77 earnings per share for the quarter, beating analysts’ consensus estimates of $0.75 by $0.02. The company had revenue of $4.85 billion during the quarter, compared to analysts’ expectations of $4.78 billion. Charles Schwab had a return on equity of 17.52% and a net margin of 27.47%. The firm’s revenue for the quarter was up 5.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.77 earnings per share. Analysts anticipate that The Charles Schwab Co. will post 3.11 EPS for the current year.

Charles Schwab Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Friday, November 8th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.35%. The ex-dividend date is Friday, November 8th. Charles Schwab’s dividend payout ratio (DPR) is presently 39.06%.

Charles Schwab Company Profile

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.