MidWestOne Financial Group Inc. Decreases Holdings in The Charles Schwab Co. (NYSE:SCHW)

MidWestOne Financial Group Inc. reduced its position in The Charles Schwab Co. (NYSE:SCHW) by 17.3% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 18,941 shares of the financial services provider’s stock after selling 3,958 shares during the period. MidWestOne Financial Group Inc.’s holdings in Charles Schwab were worth $1,402,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in SCHW. Arkadios Wealth Advisors lifted its holdings in shares of Charles Schwab by 10.2% in the 4th quarter. Arkadios Wealth Advisors now owns 11,864 shares of the financial services provider’s stock valued at $878,000 after purchasing an additional 1,099 shares during the last quarter. Ameritas Advisory Services LLC purchased a new stake in shares of Charles Schwab in the 4th quarter valued at about $422,000. UMB Bank n.a. lifted its holdings in shares of Charles Schwab by 4.7% in the 4th quarter. UMB Bank n.a. now owns 21,285 shares of the financial services provider’s stock valued at $1,575,000 after purchasing an additional 964 shares during the last quarter. MassMutual Private Wealth & Trust FSB lifted its holdings in shares of Charles Schwab by 8.8% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 5,424 shares of the financial services provider’s stock valued at $401,000 after purchasing an additional 437 shares during the last quarter. Finally, Leonard Rickey Investment Advisors P.L.L.C. lifted its holdings in shares of Charles Schwab by 23.1% in the 4th quarter. Leonard Rickey Investment Advisors P.L.L.C. now owns 10,193 shares of the financial services provider’s stock valued at $754,000 after purchasing an additional 1,912 shares during the last quarter. 84.38% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Frank C. Herringer sold 3,592 shares of the stock in a transaction dated Monday, April 21st. The stock was sold at an average price of $74.26, for a total transaction of $266,741.92. Following the transaction, the director now directly owns 172,162 shares in the company, valued at approximately $12,784,750.12. This represents a 2.04% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Jonathan M. Craig sold 9,559 shares of the stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $82.00, for a total value of $783,838.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 38,412 shares of company stock worth $3,014,797. 6.30% of the stock is owned by company insiders.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. Barclays reduced their target price on Charles Schwab from $96.00 to $84.00 and set an “overweight” rating for the company in a report on Monday, April 7th. Piper Sandler upped their price objective on Charles Schwab from $74.00 to $80.00 in a research note on Thursday, April 17th. Citigroup raised Charles Schwab from a “neutral” rating to a “buy” rating and upped their price objective for the company from $85.00 to $102.00 in a research note on Wednesday, April 2nd. The Goldman Sachs Group raised Charles Schwab from a “neutral” rating to a “buy” rating and set a $100.00 price objective for the company in a research note on Friday, April 25th. Finally, Morgan Stanley upped their price objective on Charles Schwab from $76.00 to $83.00 and gave the company an “overweight” rating in a research note on Tuesday, May 13th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $89.63.

Charles Schwab Price Performance

Shares of NYSE:SCHW opened at $89.13 on Wednesday. The business’s fifty day moving average price is $79.37 and its two-hundred day moving average price is $78.67. The stock has a market cap of $161.95 billion, a PE ratio of 29.81, a price-to-earnings-growth ratio of 0.99 and a beta of 0.90. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.47 and a current ratio of 0.47. The Charles Schwab Co. has a one year low of $61.01 and a one year high of $89.87.

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

Charles Schwab Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 23rd. Investors of record on Friday, May 9th will be paid a $0.27 dividend. The ex-dividend date of this dividend is Friday, May 9th. This represents a $1.08 annualized dividend and a yield of 1.21%. Charles Schwab’s payout ratio is currently 32.73%.

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.