Bank of Marin Cuts Stake in The Charles Schwab Co. (NYSE:SCHW)

Bank of Marin lowered its position in The Charles Schwab Co. (NYSE:SCHW) by 3.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,598 shares of the financial services provider’s stock after selling 192 shares during the quarter. Bank of Marin’s holdings in Charles Schwab were worth $414,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Merit Financial Group LLC lifted its position in Charles Schwab by 230.1% in the fourth quarter. Merit Financial Group LLC now owns 33,546 shares of the financial services provider’s stock valued at $2,483,000 after purchasing an additional 23,383 shares during the last quarter. Benjamin Edwards Inc. lifted its position in Charles Schwab by 2,840.7% in the third quarter. Benjamin Edwards Inc. now owns 6,146 shares of the financial services provider’s stock valued at $398,000 after purchasing an additional 5,937 shares during the last quarter. Synovus Financial Corp lifted its position in Charles Schwab by 46.0% in the third quarter. Synovus Financial Corp now owns 67,889 shares of the financial services provider’s stock valued at $4,400,000 after purchasing an additional 21,377 shares during the last quarter. Oregon Pacific Wealth Management LLC bought a new stake in Charles Schwab in the fourth quarter valued at approximately $688,000. Finally, Golden State Equity Partners lifted its position in Charles Schwab by 293.9% in the fourth quarter. Golden State Equity Partners now owns 12,207 shares of the financial services provider’s stock valued at $903,000 after purchasing an additional 9,108 shares during the last quarter. Hedge funds and other institutional investors own 84.38% of the company’s stock.

Charles Schwab Price Performance

SCHW opened at $77.52 on Wednesday. The stock has a fifty day simple moving average of $78.65 and a two-hundred day simple moving average of $74.57. 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 company has a market cap of $140.58 billion, a price-to-earnings ratio of 25.93, a price-to-earnings-growth ratio of 0.99 and a beta of 0.98. The Charles Schwab Co. has a 12-month low of $61.01 and a 12-month high of $84.50.

Charles Schwab (NYSE:SCHW) last posted its quarterly earnings data on Tuesday, January 21st. The financial services provider reported $1.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.90 by $0.11. Charles Schwab had a return on equity of 18.20% and a net margin of 30.31%. The business had revenue of $5.33 billion during the quarter, compared to the consensus estimate of $5.19 billion. During the same quarter in the prior year, the company earned $0.68 earnings per share. The firm’s quarterly revenue was up 19.5% compared to the same quarter last year. Research analysts predict 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. Stockholders of record on Friday, February 14th were paid a $0.27 dividend. 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 dividend yield of 1.39%. The ex-dividend date was Friday, February 14th. Charles Schwab’s dividend payout ratio is currently 36.12%.

Insider Transactions at Charles Schwab

In related news, Chairman Walter W. Bettinger sold 464,629 shares of the stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $81.91, for a total transaction of $38,057,761.39. Following the sale, the chairman now directly owns 827,377 shares of the company’s stock, valued at $67,770,450.07. This trade represents a 35.96 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Paul V. Woolway sold 9,887 shares of the stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $75.38, for a total value of $745,282.06. Following the sale, the insider now directly owns 47,931 shares in the company, valued at $3,613,038.78. This trade represents a 17.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 501,087 shares of company stock valued at $40,952,233. Insiders own 6.60% of the company’s stock.

Wall Street Analyst Weigh In

SCHW has been the subject of several recent research reports. Piper Sandler boosted their price objective on Charles Schwab from $65.00 to $70.00 and gave the company a “neutral” rating in a research report on Tuesday, January 7th. JMP Securities reiterated a “market outperform” rating and issued a $94.00 price objective (up previously from $84.00) on shares of Charles Schwab in a research report on Monday, December 9th. Jefferies Financial Group boosted their price objective on Charles Schwab from $84.00 to $94.00 and gave the company a “buy” rating in a research report on Monday, December 9th. JPMorgan Chase & Co. upped their target price on Charles Schwab from $87.00 to $93.00 and gave the company an “overweight” rating in a report on Tuesday, January 7th. Finally, Truist Financial upped their target price on Charles Schwab from $90.00 to $91.00 and gave the company a “buy” rating in a report on Tuesday, February 11th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $86.33.

About Charles Schwab

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.