3,439 Shares in The Charles Schwab Co. (NYSE:SCHW) Purchased by Wayfinding Financial LLC

Wayfinding Financial LLC acquired a new position in shares of The Charles Schwab Co. (NYSE:SCHW) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 3,439 shares of the financial services provider’s stock, valued at approximately $254,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Merit Financial Group LLC increased its position in shares of Charles Schwab by 230.1% during the 4th quarter. Merit Financial Group LLC now owns 33,546 shares of the financial services provider’s stock worth $2,483,000 after purchasing an additional 23,383 shares during the last quarter. Benjamin Edwards Inc. grew its position in Charles Schwab by 2,840.7% in the 3rd quarter. Benjamin Edwards Inc. now owns 6,146 shares of the financial services provider’s stock valued at $398,000 after acquiring an additional 5,937 shares in the last quarter. Synovus Financial Corp grew its position in Charles Schwab by 46.0% in the 3rd quarter. Synovus Financial Corp now owns 67,889 shares of the financial services provider’s stock valued at $4,400,000 after acquiring an additional 21,377 shares in the last quarter. Oregon Pacific Wealth Management LLC acquired a new position in Charles Schwab in the 4th quarter valued at about $688,000. Finally, Golden State Equity Partners grew its position in Charles Schwab by 293.9% in the 4th quarter. Golden State Equity Partners now owns 12,207 shares of the financial services provider’s stock valued at $903,000 after acquiring an additional 9,108 shares in the last quarter. 84.38% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, General Counsel Peter J. Morgan III sold 14,643 shares of the company’s stock in a transaction on Wednesday, January 22nd. The stock was sold at an average price of $80.70, for a total transaction of $1,181,690.10. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Chairman Walter W. Bettinger sold 464,629 shares of the company’s stock in a transaction 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 transaction, the chairman now directly owns 827,377 shares in the company, valued at $67,770,450.07. This represents a 35.96 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 501,087 shares of company stock valued at $40,952,233. Company insiders own 6.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on SCHW. Truist Financial boosted 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, February 11th. Deutsche Bank Aktiengesellschaft boosted their price objective on Charles Schwab from $98.00 to $105.00 and gave the stock a “buy” rating in a research report on Wednesday, January 22nd. Piper Sandler boosted their price objective on Charles Schwab from $65.00 to $70.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 7th. JMP Securities reissued a “market outperform” rating and set a $94.00 price objective (up from $84.00) on shares of Charles Schwab in a research report on Monday, December 9th. Finally, UBS Group boosted their price objective on Charles Schwab from $90.00 to $95.00 and gave the stock a “buy” rating in a research report on Monday, January 27th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $86.33.

Charles Schwab Price Performance

Shares of NYSE SCHW opened at $78.61 on Friday. 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 Charles Schwab Co. has a twelve month low of $61.01 and a twelve month high of $84.50. The stock has a 50 day moving average of $78.88 and a two-hundred day moving average of $74.63. The stock has a market cap of $142.57 billion, a P/E ratio of 26.29, a P/E/G ratio of 0.99 and a beta of 0.98.

Charles Schwab (NYSE:SCHW) last released its earnings results on Tuesday, January 21st. The financial services provider reported $1.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.90 by $0.11. The business had revenue of $5.33 billion for the quarter, compared to analyst estimates of $5.19 billion. Charles Schwab had a return on equity of 18.20% and a net margin of 30.31%. The company’s revenue for the quarter was up 19.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.68 earnings per share. On average, research analysts forecast that The Charles Schwab Co. will post 4.22 earnings per share for the current year.

Charles Schwab Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 14th were issued a $0.27 dividend. The ex-dividend date was Friday, February 14th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.37%. This is a positive change from Charles Schwab’s previous quarterly dividend of $0.25. Charles Schwab’s payout ratio is presently 36.12%.

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.