CENTRAL TRUST Co Sells 2,187 Shares of The Charles Schwab Co. (NYSE:SCHW)

CENTRAL TRUST Co decreased its holdings in The Charles Schwab Co. (NYSE:SCHW – Get Rating) by 5.9% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 34,756 shares of the financial services provider’s stock after selling 2,187 shares during the quarter. CENTRAL TRUST Co’s holdings in Charles Schwab were worth $2,498,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of SCHW. West Branch Capital LLC bought a new position in Charles Schwab in the 3rd quarter valued at $25,000. Selway Asset Management bought a new position in Charles Schwab in the 3rd quarter valued at $29,000. Worth Asset Management LLC acquired a new stake in shares of Charles Schwab in the 1st quarter valued at $32,000. Exos TFP Holdings LLC acquired a new stake in shares of Charles Schwab in the 3rd quarter valued at $34,000. Finally, IAG Wealth Partners LLC acquired a new stake in shares of Charles Schwab in the 3rd quarter valued at $36,000. Institutional investors own 73.49% of the company’s stock.

Insider Activity

In other news, Director Charles A. Ruffel sold 5,176 shares of the business’s stock in a transaction dated Thursday, February 16th. The stock was sold at an average price of $80.88, for a total value of $418,634.88. Following the sale, the director now directly owns 12,073 shares in the company, valued at $976,464.24. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, CEO Walter W. Bettinger bought 50,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 14th. The shares were acquired at an average price of $59.31 per share, for a total transaction of $2,965,500.00. Following the completion of the acquisition, the chief executive officer now owns 656,501 shares of the company’s stock, valued at approximately $38,937,074.31. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Charles A. Ruffel sold 5,176 shares of the company’s stock in a transaction dated Thursday, February 16th. The stock was sold at an average price of $80.88, for a total value of $418,634.88. Following the sale, the director now owns 12,073 shares in the company, valued at approximately $976,464.24. The disclosure for this sale can be found here. Over the last three months, insiders have bought 65,000 shares of company stock worth $3,823,200 and have sold 728,106 shares worth $58,067,403. Corporate insiders own 6.90% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on SCHW. Piper Sandler lowered their target price on Charles Schwab from $100.00 to $95.00 and set an “overweight” rating for the company in a research note on Tuesday. Deutsche Bank Aktiengesellschaft lowered their target price on Charles Schwab from $109.00 to $83.00 and set a “buy” rating for the company in a research note on Tuesday. Credit Suisse Group raised Charles Schwab from a “neutral” rating to an “outperform” rating and lowered their target price for the company from $81.50 to $67.50 in a research note on Wednesday. Barclays lowered their target price on Charles Schwab from $87.00 to $79.00 and set an “equal weight” rating for the company in a research note on Monday, January 30th. Finally, Morgan Stanley decreased their price objective on Charles Schwab from $104.00 to $99.00 and set an “overweight” rating for the company in a research note on Monday, January 30th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $85.04.

Charles Schwab Stock Up 5.1 %

NYSE:SCHW opened at $59.55 on Thursday. The Charles Schwab Co. has a 1 year low of $45.00 and a 1 year high of $93.16. The company has a current ratio of 0.38, a quick ratio of 0.38 and a debt-to-equity ratio of 0.77. The stock has a market cap of $106.68 billion, a price-to-earnings ratio of 17.01, a PEG ratio of 0.91 and a beta of 0.93. The stock has a 50-day moving average price of $77.54 and a two-hundred day moving average price of $76.81.

Charles Schwab (NYSE:SCHW – Get Rating) last issued its quarterly earnings results on Wednesday, January 18th. The financial services provider reported $1.07 EPS for the quarter, missing analysts’ consensus estimates of $1.10 by ($0.03). The firm had revenue of $5.50 billion during the quarter, compared to the consensus estimate of $5.55 billion. Charles Schwab had a net margin of 34.60% and a return on equity of 24.94%. The business’s revenue for the quarter was up 16.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.86 earnings per share. As a group, equities analysts expect that The Charles Schwab Co. will post 4.32 earnings per share for the current year.

Charles Schwab Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 24th. Stockholders of record on Friday, February 10th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.68%. This is a positive change from Charles Schwab’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend was Thursday, February 9th. Charles Schwab’s payout ratio is 28.57%.

About Charles Schwab

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The Charles Schwab Corp. is a savings and loan holding company, which engages in the provision of wealth management, securities brokerage, banking, asset management, custody, and financial advisory services. It operates through the Investor Services and Advisor Services segments. The Investor Services segment includes retail brokerage and banking services to individual investors, and retirement plan services, as well as other corporate brokerage services, to businesses and their employees.