Argent Trust Co lowered its stake in Charles Schwab Co. (NYSE:SCHW) by 11.2% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 44,838 shares of the financial services provider’s stock after selling 5,650 shares during the period. Argent Trust Co’s holdings in Charles Schwab were worth $1,507,000 at the end of the most recent reporting period.
Several other large investors also recently added to or reduced their stakes in the company. BlackRock Inc. increased its holdings in shares of Charles Schwab by 5.7% in the first quarter. BlackRock Inc. now owns 91,681,742 shares of the financial services provider’s stock valued at $3,082,342,000 after purchasing an additional 4,903,256 shares during the period. Geode Capital Management LLC boosted its stake in shares of Charles Schwab by 1.7% in the fourth quarter. Geode Capital Management LLC now owns 15,433,355 shares of the financial services provider’s stock valued at $732,454,000 after buying an additional 256,753 shares in the last quarter. Parnassus Investments CA boosted its stake in shares of Charles Schwab by 29.6% in the first quarter. Parnassus Investments CA now owns 15,252,546 shares of the financial services provider’s stock valued at $512,791,000 after buying an additional 3,486,934 shares in the last quarter. Alliancebernstein L.P. boosted its stake in shares of Charles Schwab by 8.6% in the fourth quarter. Alliancebernstein L.P. now owns 14,688,408 shares of the financial services provider’s stock valued at $698,581,000 after buying an additional 1,165,515 shares in the last quarter. Finally, FMR LLC boosted its stake in shares of Charles Schwab by 12.5% in the fourth quarter. FMR LLC now owns 14,627,477 shares of the financial services provider’s stock valued at $695,683,000 after buying an additional 1,626,774 shares in the last quarter. 82.30% of the stock is currently owned by institutional investors and hedge funds.
A number of analysts recently weighed in on the company. Cfra decreased their price target on Charles Schwab from $55.00 to $40.00 and set a “buy” rating on the stock in a research note on Wednesday, April 15th. Wells Fargo & Co decreased their price target on Charles Schwab from $38.00 to $33.00 and set an “equal weight” rating on the stock in a research note on Monday, April 6th. Deutsche Bank decreased their price target on Charles Schwab from $38.00 to $36.00 and set a “hold” rating on the stock in a research note on Friday, May 15th. Morgan Stanley lifted their price target on Charles Schwab from $47.00 to $48.00 and gave the company an “overweight” rating in a research note on Wednesday, April 29th. Finally, Compass Point downgraded Charles Schwab from a “buy” rating to a “neutral” rating and set a $35.00 target price on the stock. in a research report on Wednesday. Eleven equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $42.75.
Shares of NYSE:SCHW traded down $0.39 on Friday, hitting $32.83. The company had a trading volume of 7,293,350 shares, compared to its average volume of 8,901,745. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 0.36. Charles Schwab Co. has a 52-week low of $28.00 and a 52-week high of $51.65. The business has a 50 day moving average of $35.26 and a 200 day moving average of $42.02. The company has a market cap of $42.77 billion, a PE ratio of 12.82, a PEG ratio of 1.59 and a beta of 1.27.
Charles Schwab (NYSE:SCHW) last issued its quarterly earnings data on Wednesday, April 15th. The financial services provider reported $0.58 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.63 by ($0.05). Charles Schwab had a net margin of 33.30% and a return on equity of 18.25%. The company had revenue of $2.62 billion during the quarter, compared to analysts’ expectations of $2.61 billion. During the same quarter in the prior year, the company earned $0.69 earnings per share. The firm’s revenue was down 3.9% compared to the same quarter last year. As a group, equities analysts predict that Charles Schwab Co. will post 2.09 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, May 22nd. Stockholders of record on Friday, May 8th were given a $0.18 dividend. The ex-dividend date of this dividend was Thursday, May 7th. This represents a $0.72 annualized dividend and a dividend yield of 2.19%. Charles Schwab’s dividend payout ratio is currently 26.47%.
Charles Schwab Company Profile
The Charles Schwab Corporation, through its subsidiaries, provides wealth management, securities brokerage, banking, asset management, custody, and financial advisory services. The company operates through two segments, Investor Services and Advisor Services. The Investor Services segment provides retail brokerage and banking services, retirement plan services, and other corporate brokerage services; equity compensation plan sponsors full-service recordkeeping for stock plans, stock options, restricted stock, performance shares, and stock appreciation rights; and retail investor, retirement plan, and mutual fund clearing services.
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