Matisse Capital Sells 1,339 Shares of The Charles Schwab Co. (NYSE:SCHW)

Matisse Capital lessened its stake in The Charles Schwab Co. (NYSE:SCHW) by 9.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 13,520 shares of the financial services provider’s stock after selling 1,339 shares during the period. Matisse Capital’s holdings in Charles Schwab were worth $1,001,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Merit Financial Group LLC raised its holdings in Charles Schwab by 230.1% during 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 acquiring an additional 23,383 shares during the period. Benjamin Edwards Inc. raised its stake 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 worth $398,000 after buying an additional 5,937 shares in the last quarter. Synovus Financial Corp boosted its holdings in shares of Charles Schwab by 46.0% in the 3rd quarter. Synovus Financial Corp now owns 67,889 shares of the financial services provider’s stock valued at $4,400,000 after buying an additional 21,377 shares in the last quarter. Oregon Pacific Wealth Management LLC purchased a new position in shares of Charles Schwab in the 4th quarter valued at approximately $688,000. Finally, Golden State Equity Partners boosted its holdings in shares of Charles Schwab by 293.9% in the 4th quarter. Golden State Equity Partners now owns 12,207 shares of the financial services provider’s stock valued at $903,000 after acquiring an additional 9,108 shares during the last quarter. Hedge funds and other institutional investors own 84.38% of the company’s stock.

Insider Buying and Selling at Charles Schwab

In other Charles Schwab news, Director Christopher V. Dodds sold 9,284 shares of the stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $81.43, for a total transaction of $755,996.12. Following the transaction, the director now owns 442,807 shares in the company, valued at $36,057,774.01. This represents a 2.05 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Jonathan S. Beatty sold 2,300 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $82.01, for a total transaction of $188,623.00. Following the completion of the transaction, the insider now owns 18,069 shares of the company’s stock, valued at $1,481,838.69. The trade was a 11.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 50,014 shares of company stock valued at $4,052,281. 6.60% of the stock is currently owned by company insiders.

Charles Schwab Trading Up 0.0 %

Shares of NYSE SCHW opened at $82.76 on Tuesday. The Charles Schwab Co. has a 52 week low of $61.01 and a 52 week high of $83.84. The business has a 50 day simple moving average of $77.97 and a 200 day simple moving average of $71.22. 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 stock has a market cap of $147.28 billion, a price-to-earnings ratio of 27.68, a PEG ratio of 1.01 and a beta of 0.99.

Charles Schwab (NYSE:SCHW) last released its earnings results on Tuesday, January 21st. The financial services provider reported $1.01 earnings per share for the quarter, beating the consensus estimate of $0.90 by $0.11. Charles Schwab had a net margin of 30.31% and a return on equity of 18.20%. The business had revenue of $5.33 billion during the quarter, compared to analysts’ expectations of $5.19 billion. During the same quarter last year, the company earned $0.68 earnings per share. The firm’s revenue was up 19.5% on a year-over-year basis. On average, research analysts predict that The Charles Schwab Co. will post 4.18 earnings per share for the current fiscal year.

Charles Schwab Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, February 14th will be paid a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 1.30%. The ex-dividend date of this dividend is Friday, February 14th. This is a positive change from Charles Schwab’s previous quarterly dividend of $0.25. Charles Schwab’s dividend payout ratio (DPR) is 33.44%.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. Redburn Partners dropped their target price on shares of Charles Schwab from $70.00 to $68.00 and set a “sell” rating on the stock in a research report on Friday, January 17th. Keefe, Bruyette & Woods lifted their price target on shares of Charles Schwab from $81.00 to $93.00 and gave the company an “outperform” rating in a research report on Friday, December 20th. Truist Financial reissued a “buy” rating and set a $90.00 price target (up previously from $86.00) on shares of Charles Schwab in a research report on Wednesday, January 22nd. The Goldman Sachs Group boosted their target price on Charles Schwab from $67.00 to $74.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 16th. Finally, Citigroup increased their target price on shares of Charles Schwab from $80.00 to $85.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 22nd. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $84.11.

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.