Commerce Bank Increases Stake in The Charles Schwab Co. (NYSE:SCHW)

Commerce Bank increased its position in shares of The Charles Schwab Co. (NYSE:SCHW) by 0.2% during the fourth quarter, Holdings Channel reports. The institutional investor owned 77,289 shares of the financial services provider’s stock after buying an additional 147 shares during the quarter. Commerce Bank’s holdings in Charles Schwab were worth $5,720,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the company. Principal Financial Group Inc. grew its stake in shares of Charles Schwab by 0.6% during the third quarter. Principal Financial Group Inc. now owns 6,673,901 shares of the financial services provider’s stock worth $432,536,000 after purchasing an additional 38,201 shares in the last quarter. Anchor Investment Management LLC increased its holdings in shares of Charles Schwab by 11.2% in the 3rd quarter. Anchor Investment Management LLC now owns 36,229 shares of the financial services provider’s stock valued at $2,348,000 after acquiring an additional 3,637 shares during the last quarter. Sculati Wealth Management LLC raised its position in shares of Charles Schwab by 0.7% during the 3rd quarter. Sculati Wealth Management LLC now owns 42,988 shares of the financial services provider’s stock worth $2,786,000 after acquiring an additional 315 shares in the last quarter. World Investment Advisors LLC purchased a new stake in Charles Schwab during the third quarter worth approximately $9,211,000. Finally, Sfmg LLC boosted its holdings in Charles Schwab by 2.5% in the third quarter. Sfmg LLC now owns 58,542 shares of the financial services provider’s stock valued at $3,794,000 after purchasing an additional 1,444 shares in the last quarter. Institutional investors and hedge funds own 84.38% of the company’s stock.

Charles Schwab Stock Up 1.1 %

SCHW opened at $76.52 on Friday. The business has a 50 day simple moving average of $77.16 and a 200-day simple moving average of $76.58. The Charles Schwab Co. has a 12 month low of $61.01 and a 12 month high of $84.50. The stock has a market capitalization of $138.77 billion, a P/E ratio of 25.59, a P/E/G ratio of 0.99 and a beta of 0.91. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.47 and a quick ratio of 0.47.

Charles Schwab (NYSE:SCHW) last issued its earnings results on Thursday, April 17th. The financial services provider reported $1.04 EPS for the quarter, topping the consensus estimate of $1.01 by $0.03. The company had revenue of $5.60 billion for the quarter, compared to analyst estimates of $5.46 billion. Charles Schwab had a net margin of 30.31% and a return on equity of 18.20%. During the same period in the previous year, the firm earned $0.74 EPS. On average, equities analysts anticipate that The Charles Schwab Co. will post 4.22 earnings per share for the current fiscal year.

Charles Schwab Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 14th were issued a $0.27 dividend. The ex-dividend date was Friday, February 14th. This is a boost from Charles Schwab’s previous quarterly dividend of $0.25. This represents a $1.08 dividend on an annualized basis and a yield of 1.41%. Charles Schwab’s dividend payout ratio (DPR) is 36.12%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on SCHW. JPMorgan Chase & Co. restated an “outperform” rating and set a $92.00 price objective on shares of Charles Schwab in a research report on Wednesday. JPMorgan analyst Kenneth Worthington reiterated an Overweight rating and $92 target. Ahead of earnings, he highlighted Schwab’s earnings model and positive impact of rising cash allocations. Barclays decreased their price objective on shares of Charles Schwab from $96.00 to $84.00 and set an “overweight” rating for the company in a research note on Monday, April 7th. Keefe, Bruyette & Woods reduced their target price on Charles Schwab from $93.00 to $90.00 and set an “outperform” rating for the company in a report on Thursday, April 10th. Truist Financial dropped their price target on Charles Schwab from $91.00 to $85.00 and set a “buy” rating on the stock in a research note on Friday, April 4th. Finally, Piper Sandler boosted their price objective on Charles Schwab from $74.00 to $80.00 in a research note on Thursday. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $85.44.

Insider Transactions at Charles Schwab

In related news, Director Arun Sarin sold 8,548 shares of the business’s stock in a transaction dated Thursday, January 23rd. The shares were sold at an average price of $81.82, for a total value of $699,397.36. Following the sale, the director now directly owns 18,617 shares in the company, valued at $1,523,242.94. The trade was a 31.47 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel Peter J. Morgan III sold 14,643 shares of the firm’s stock in a transaction dated Wednesday, January 22nd. The shares were sold at an average price of $80.70, for a total transaction of $1,181,690.10. The disclosure for this sale can be found here. Insiders have sold 513,081 shares of company stock valued at $41,903,066 in the last quarter. 6.30% of the stock is currently owned by corporate insiders.

Charles Schwab 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.