Noesis Capital Mangement Corp Cuts Position in The Charles Schwab Co. (NYSE:SCHW)

Noesis Capital Mangement Corp decreased its position in The Charles Schwab Co. (NYSE:SCHW) by 18.0% during the third quarter, HoldingsChannel.com reports. The fund owned 3,898 shares of the financial services provider’s stock after selling 855 shares during the quarter. Noesis Capital Mangement Corp’s holdings in Charles Schwab were worth $253,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Patten & Patten Inc. TN grew its position in Charles Schwab by 155.9% in the third quarter. Patten & Patten Inc. TN now owns 104,168 shares of the financial services provider’s stock worth $6,751,000 after acquiring an additional 63,463 shares in the last quarter. Equity Investment Corp lifted its stake in shares of Charles Schwab by 9.4% in the 3rd quarter. Equity Investment Corp now owns 1,640,157 shares of the financial services provider’s stock valued at $106,299,000 after purchasing an additional 140,643 shares during the last quarter. Teewinot Capital Advisers L.L.C. boosted its holdings in shares of Charles Schwab by 9.0% in the 2nd quarter. Teewinot Capital Advisers L.L.C. now owns 775,161 shares of the financial services provider’s stock worth $57,122,000 after purchasing an additional 64,041 shares during the period. Iowa State Bank boosted its holdings in shares of Charles Schwab by 37.9% in the 3rd quarter. Iowa State Bank now owns 28,476 shares of the financial services provider’s stock worth $1,846,000 after purchasing an additional 7,829 shares during the period. Finally, Radnor Capital Management LLC bought a new position in shares of Charles Schwab during the 3rd quarter valued at approximately $6,081,000. 84.38% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider Jonathan S. Beatty sold 2,300 shares of the stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $82.01, for a total transaction of $188,623.00. Following the completion of the sale, the insider now owns 18,069 shares of the company’s stock, valued at $1,481,838.69. This represents a 11.29 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Chairman Charles R. Schwab sold 62,345 shares of the firm’s stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $72.52, for a total transaction of $4,521,259.40. Following the completion of the sale, the chairman now owns 60,619,371 shares of the company’s stock, valued at approximately $4,396,116,784.92. This trade represents a 0.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 127,968 shares of company stock valued at $9,419,271 over the last 90 days. Corporate insiders own 6.60% of the company’s stock.

Charles Schwab Price Performance

SCHW opened at $82.60 on Thursday. 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 business’s fifty day simple moving average is $71.66 and its 200-day simple moving average is $69.94. The company has a market capitalization of $147.00 billion, a price-to-earnings ratio of 32.27, a PEG ratio of 1.77 and a beta of 0.96. The Charles Schwab Co. has a 12-month low of $55.59 and a 12-month high of $82.65.

Charles Schwab (NYSE:SCHW) last issued its earnings results on Tuesday, October 15th. The financial services provider reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.75 by $0.02. Charles Schwab had a net margin of 27.47% and a return on equity of 16.92%. The company had revenue of $4.85 billion for the quarter, compared to analysts’ expectations of $4.78 billion. During the same period in the prior year, the business earned $0.77 EPS. The firm’s quarterly revenue was up 5.2% on a year-over-year basis. On average, equities research analysts anticipate that The Charles Schwab Co. will post 3.12 earnings per share for the current fiscal year.

Charles Schwab Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Friday, November 8th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.21%. The ex-dividend date was Friday, November 8th. Charles Schwab’s dividend payout ratio (DPR) is 39.06%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Raymond James lowered their price target on Charles Schwab from $76.00 to $73.00 in a research report on Tuesday, October 15th. Barclays raised their target price on shares of Charles Schwab from $64.00 to $74.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 16th. The Goldman Sachs Group upped their price target on shares of Charles Schwab from $67.00 to $74.00 and gave the company a “neutral” rating in a report on Wednesday, October 16th. Bank of America decreased their price objective on shares of Charles Schwab from $63.00 to $61.00 and set an “underperform” rating for the company in a research note on Wednesday, October 16th. Finally, Wells Fargo & Company upped their target price on Charles Schwab from $70.00 to $75.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 16th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, Charles Schwab currently has a consensus rating of “Hold” and a consensus target price of $74.18.

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.