SVB Wealth LLC Invests $6.42 Million in The Charles Schwab Co. (NYSE:SCHW)

SVB Wealth LLC bought a new position in shares of The Charles Schwab Co. (NYSE:SCHW) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 86,750 shares of the financial services provider’s stock, valued at approximately $6,420,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Merit Financial Group LLC grew its position in Charles Schwab by 230.1% in the 4th quarter. Merit Financial Group LLC now owns 33,546 shares of the financial services provider’s stock worth $2,483,000 after purchasing an additional 23,383 shares in the last quarter. Benjamin Edwards Inc. grew its position in Charles Schwab by 2,840.7% in the 3rd quarter. Benjamin Edwards Inc. now owns 6,146 shares of the financial services provider’s stock worth $398,000 after purchasing an additional 5,937 shares in the last quarter. Synovus Financial Corp grew its position in Charles Schwab by 46.0% in the 3rd quarter. Synovus Financial Corp now owns 67,889 shares of the financial services provider’s stock worth $4,400,000 after purchasing an additional 21,377 shares in the last quarter. Oregon Pacific Wealth Management LLC bought a new stake in Charles Schwab in the 4th quarter worth about $688,000. Finally, Golden State Equity Partners grew its position in 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 worth $903,000 after purchasing an additional 9,108 shares in the last quarter. 84.38% of the stock is owned by institutional investors.

Charles Schwab Stock Performance

NYSE SCHW opened at $79.71 on Friday. The Charles Schwab Co. has a 1 year low of $61.01 and a 1 year high of $84.50. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.47 and a quick ratio of 0.47. The stock has a market capitalization of $141.99 billion, a PE ratio of 26.66, a P/E/G ratio of 0.99 and a beta of 0.99. The company’s 50 day simple moving average is $78.37 and its two-hundred day simple moving average is $73.61.

Charles Schwab (NYSE:SCHW) last posted its earnings results on Tuesday, January 21st. The financial services provider reported $1.01 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to analysts’ expectations of $5.19 billion. During the same period in the prior year, the company posted $0.68 EPS. The business’s revenue for the quarter was up 19.5% compared to the same quarter last year. 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 disclosed a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 14th were given a dividend of $0.27 per share. The ex-dividend date was Friday, February 14th. This represents a $1.08 annualized dividend and a dividend yield of 1.35%. This is a boost from Charles Schwab’s previous quarterly dividend of $0.25. Charles Schwab’s dividend payout ratio (DPR) is 36.12%.

Insider Activity

In other news, Chairman Walter W. Bettinger sold 464,629 shares of the firm’s stock in a transaction on Wednesday, February 12th. The shares were sold at an average price of $81.91, for a total transaction of $38,057,761.39. Following the sale, the chairman now owns 827,377 shares in the company, valued at approximately $67,770,450.07. This trade represents a 35.96 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Arun Sarin sold 8,548 shares of the firm’s stock in a transaction on Thursday, January 23rd. The shares were sold at an average price of $81.82, for a total transaction of $699,397.36. Following the sale, the director now owns 18,617 shares in the company, valued at approximately $1,523,242.94. This trade represents a 31.47 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 487,820 shares of company stock worth $39,938,849. 6.60% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on SCHW. UBS Group increased their target price on shares of Charles Schwab from $90.00 to $95.00 and gave the company a “buy” rating in a research report on Monday, January 27th. Deutsche Bank Aktiengesellschaft increased their target price on shares of Charles Schwab from $98.00 to $105.00 and gave the company a “buy” rating in a research report on Wednesday, January 22nd. Wells Fargo & Company raised shares of Charles Schwab from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $89.00 to $93.00 in a research report on Wednesday, January 22nd. TD Cowen raised shares of Charles Schwab from a “hold” rating to a “buy” rating and increased their target price for the company from $88.00 to $103.00 in a research report on Tuesday, February 18th. Finally, Truist Financial increased their target price on shares of Charles Schwab from $90.00 to $91.00 and gave the company a “buy” rating in a research report on Tuesday, February 11th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, Charles Schwab presently has a consensus rating of “Hold” and an average target price of $86.33.

Charles Schwab Company 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.