Moors & Cabot Inc. Boosts Stock Position in The Charles Schwab Co. (NYSE:SCHW)

Moors & Cabot Inc. raised its stake in shares of The Charles Schwab Co. (NYSE:SCHW) by 4.6% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 24,032 shares of the financial services provider’s stock after acquiring an additional 1,053 shares during the period. Moors & Cabot Inc.’s holdings in Charles Schwab were worth $1,558,000 as of its most recent SEC filing.

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

Charles Schwab Trading Up 0.3 %

SCHW opened at $80.46 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 stock has a market capitalization of $143.19 billion, a PE ratio of 31.43, a PEG ratio of 1.74 and a beta of 0.96. The Charles Schwab Co. has a 1-year low of $55.42 and a 1-year high of $82.50. The firm has a 50-day moving average price of $69.79 and a two-hundred day moving average price of $69.74.

Charles Schwab (NYSE:SCHW) last posted its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $0.77 earnings per share for the quarter, beating the consensus estimate of $0.75 by $0.02. The firm had revenue of $4.85 billion during the quarter, compared to analysts’ expectations of $4.78 billion. Charles Schwab had a net margin of 27.47% and a return on equity of 16.92%. The company’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same quarter last year, the company posted $0.77 EPS. As a group, equities analysts anticipate that The Charles Schwab Co. will post 3.12 earnings per share for the current fiscal year.

Charles Schwab Dividend Announcement

The firm also recently announced 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 annualized dividend and a dividend yield of 1.24%. The ex-dividend date is Friday, November 8th. Charles Schwab’s dividend payout ratio (DPR) is presently 39.06%.

Insider Activity

In related news, Director Carolyn Schwab-Pomerantz sold 9,000 shares of Charles Schwab stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $64.05, for a total transaction of $576,450.00. Following the transaction, the director now owns 554,929 shares of the company’s stock, valued at $35,543,202.45. This trade represents a 1.60 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Charles R. Schwab sold 62,345 shares of Charles Schwab stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $72.52, for a total transaction of $4,521,259.40. Following the transaction, the chairman now directly owns 60,619,371 shares in the company, valued at $4,396,116,784.92. The trade was a 0.10 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 112,929 shares of company stock valued at $8,196,624. 6.60% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Raymond James decreased their price objective on shares of Charles Schwab from $76.00 to $73.00 in a report on Tuesday, October 15th. The Goldman Sachs Group increased their price objective on shares of Charles Schwab from $67.00 to $74.00 and gave the company a “neutral” rating in a research note on Wednesday, October 16th. Jefferies Financial Group dropped their price objective on shares of Charles Schwab from $79.00 to $73.00 and set a “buy” rating for the company in a research note on Friday, October 4th. Morgan Stanley increased their price objective on shares of Charles Schwab from $68.00 to $74.00 and gave the company an “equal weight” rating in a research note on Thursday, October 24th. Finally, Citigroup dropped their price objective on shares of Charles Schwab from $75.00 to $72.00 and set a “neutral” rating for the company in a research note on Friday, September 27th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, Charles Schwab currently has a consensus rating of “Hold” and an average price target of $74.18.

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.