First American Bank Reduces Stock Position in The Charles Schwab Co. (NYSE:SCHW)

First American Bank decreased its position in The Charles Schwab Co. (NYSE:SCHW) by 14.7% in the 3rd quarter, Holdings Channel.com reports. The fund owned 51,397 shares of the financial services provider’s stock after selling 8,873 shares during the period. First American Bank’s holdings in Charles Schwab were worth $3,331,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. grew its position in shares of Charles Schwab by 0.9% in the 1st quarter. Vanguard Group Inc. now owns 120,963,133 shares of the financial services provider’s stock worth $8,750,473,000 after acquiring an additional 1,042,823 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in shares of Charles Schwab by 4.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 72,306,560 shares of the financial services provider’s stock worth $5,230,657,000 after acquiring an additional 2,946,327 shares in the last quarter. Legal & General Group Plc grew its position in shares of Charles Schwab by 2.1% in the 2nd quarter. Legal & General Group Plc now owns 10,886,058 shares of the financial services provider’s stock worth $802,193,000 after acquiring an additional 225,397 shares in the last quarter. Allen Investment Management LLC grew its position in shares of Charles Schwab by 3.0% in the 2nd quarter. Allen Investment Management LLC now owns 8,712,364 shares of the financial services provider’s stock worth $642,014,000 after acquiring an additional 251,485 shares in the last quarter. Finally, Lazard Asset Management LLC grew its position in shares of Charles Schwab by 8.9% in the 1st quarter. Lazard Asset Management LLC now owns 7,305,050 shares of the financial services provider’s stock worth $528,445,000 after acquiring an additional 596,589 shares in the last quarter. Institutional investors and hedge funds own 84.38% of the company’s stock.

Insider Transactions at Charles Schwab

In other news, Chairman Charles R. Schwab sold 67,386 shares of the business’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $65.11, for a total value of $4,387,502.46. Following the sale, the chairman now owns 60,619,371 shares of the company’s stock, valued at approximately $3,946,927,245.81. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, Chairman Charles R. Schwab sold 67,386 shares of the business’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $65.11, for a total transaction of $4,387,502.46. Following the sale, the chairman now directly owns 60,619,371 shares of the company’s stock, valued at $3,946,927,245.81. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Carolyn Schwab-Pomerantz sold 29,800 shares of the business’s stock in a transaction on Thursday, October 17th. The stock was sold at an average price of $72.16, for a total value of $2,150,368.00. Following the sale, the director now directly owns 551,329 shares in the company, valued at $39,783,900.64. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 182,001 shares of company stock valued at $12,512,592. Corporate insiders own 6.60% of the company’s stock.

Charles Schwab Trading Down 1.1 %

Shares of SCHW stock opened at $71.82 on Monday. 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 Charles Schwab Co. has a 1 year low of $49.16 and a 1 year high of $79.49. The stock has a fifty day moving average of $65.73 and a two-hundred day moving average of $69.48. The firm has a market capitalization of $127.64 billion, a PE ratio of 30.05, a price-to-earnings-growth ratio of 1.63 and a beta of 0.97.

Charles Schwab (NYSE:SCHW) last posted its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $0.77 EPS for the quarter, topping analysts’ consensus estimates of $0.75 by $0.02. Charles Schwab had a return on equity of 17.52% and a net margin of 27.47%. The company had revenue of $4.85 billion for the quarter, compared to the consensus estimate of $4.78 billion. During the same quarter in the previous year, the business earned $0.77 EPS. The company’s quarterly revenue was up 5.2% compared to the same quarter last year. As a group, research analysts expect that The Charles Schwab Co. will post 3.11 EPS for the current year.

Charles Schwab Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Friday, November 8th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.39%. The ex-dividend date is Friday, November 8th. Charles Schwab’s dividend payout ratio is presently 41.84%.

Analyst Upgrades and Downgrades

SCHW has been the subject of several research reports. Morgan Stanley lifted their target price on Charles Schwab from $68.00 to $74.00 and gave the stock an “equal weight” rating in a research report on Thursday. JMP Securities boosted their price objective on Charles Schwab from $82.00 to $84.00 and gave the company a “market outperform” rating in a research report on Wednesday, October 16th. Raymond James reduced their price objective on Charles Schwab from $76.00 to $73.00 in a research report on Tuesday, October 15th. JPMorgan Chase & Co. boosted their price objective on Charles Schwab from $86.00 to $87.00 and gave the company an “overweight” rating in a research report on Wednesday, October 16th. Finally, Bank of America reduced their price objective on Charles Schwab from $63.00 to $61.00 and set an “underperform” rating for the company in a research report 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 company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $73.94.

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.