Central Pacific Bank Trust Division Increases Holdings in The Charles Schwab Co. (NYSE:SCHW)

Central Pacific Bank Trust Division grew its stake in shares of The Charles Schwab Co. (NYSE:SCHW) by 3.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 76,944 shares of the financial services provider’s stock after acquiring an additional 2,804 shares during the quarter. Charles Schwab comprises approximately 0.7% of Central Pacific Bank Trust Division’s portfolio, making the stock its 17th biggest position. Central Pacific Bank Trust Division’s holdings in Charles Schwab were worth $5,695,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the company. Capital Performance Advisors LLP purchased a new stake in shares of Charles Schwab during the 3rd quarter valued at about $25,000. Washington Trust Advisors Inc. grew its position in Charles Schwab by 62.6% in the 3rd quarter. Washington Trust Advisors Inc. now owns 387 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 149 shares during the period. Prospera Private Wealth LLC bought a new position in shares of Charles Schwab during the 3rd quarter valued at $31,000. Future Financial Wealth Managment LLC bought a new stake in shares of Charles Schwab in the third quarter worth $32,000. Finally, Planning Capital Management Corp purchased a new stake in Charles Schwab during the third quarter valued at $33,000. Institutional investors own 84.38% of the company’s stock.

Charles Schwab Trading Up 0.5 %

Shares of NYSE SCHW traded up $0.38 during midday trading on Friday, reaching $74.22. 2,011,716 shares of the stock were exchanged, compared to its average volume of 3,909,131. The stock has a market capitalization of $132.09 billion, a P/E ratio of 28.99, a PEG ratio of 1.76 and a beta of 0.96. The Charles Schwab Co. has a twelve month low of $59.67 and a twelve month high of $83.35. 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 company has a 50 day simple moving average of $77.35 and a 200 day simple moving average of $70.63.

Charles Schwab (NYSE:SCHW) last released its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $0.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.75 by $0.02. Charles Schwab had a net margin of 27.47% and a return on equity of 16.92%. The business had revenue of $4.85 billion for the quarter, compared to the consensus estimate of $4.78 billion. During the same period in the previous year, the firm earned $0.77 EPS. The business’s revenue was up 5.2% on a year-over-year basis. As a group, equities analysts expect that The Charles Schwab Co. will post 3.12 earnings per share for the current year.

Charles Schwab Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Friday, November 8th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.00 annualized dividend and a dividend yield of 1.35%. Charles Schwab’s dividend payout ratio (DPR) is currently 39.06%.

Insider Transactions at Charles Schwab

In other news, Director Carolyn Schwab-Pomerantz sold 29,800 shares of the business’s stock in a transaction that occurred 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 transaction, the director now owns 551,329 shares of the company’s stock, valued at approximately $39,783,900.64. The trade was a 5.13 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Jonathan S. Beatty sold 2,500 shares of Charles Schwab stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $77.02, for a total transaction of $192,550.00. Following the completion of the sale, the insider now directly owns 18,069 shares in the company, valued at approximately $1,391,674.38. The trade was a 12.15 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 118,968 shares of company stock valued at $8,842,821. 6.60% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages have weighed in on SCHW. StockNews.com raised shares of Charles Schwab from a “sell” rating to a “hold” rating in a report on Wednesday, October 16th. Barclays raised shares of Charles Schwab from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $74.00 to $95.00 in a report on Monday, December 9th. Jefferies Financial Group boosted their target price on shares of Charles Schwab from $84.00 to $94.00 and gave the stock a “buy” rating in a report on Monday, December 9th. JMP Securities restated a “market outperform” rating and issued a $94.00 price target (up from $84.00) on shares of Charles Schwab in a research report on Monday, December 9th. Finally, Piper Sandler boosted their target price on Charles Schwab from $64.00 to $65.00 and gave the company a “neutral” rating in a research report on Wednesday, October 16th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, Charles Schwab has an average rating of “Hold” and an average target price of $80.50.

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.