Morton Community Bank Sells 2,235 Shares of The Charles Schwab Co. (NYSE:SCHW)

Morton Community Bank lessened its holdings in shares of The Charles Schwab Co. (NYSE:SCHW) by 20.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,632 shares of the financial services provider’s stock after selling 2,235 shares during the quarter. Morton Community Bank’s holdings in Charles Schwab were worth $559,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the business. Alliance Wealth Advisors LLC increased its position in Charles Schwab by 2.7% during the third quarter. Alliance Wealth Advisors LLC now owns 5,358 shares of the financial services provider’s stock worth $347,000 after buying an additional 142 shares during the last quarter. GS Investments Inc. increased its position in Charles Schwab by 0.3% during the third quarter. GS Investments Inc. now owns 57,434 shares of the financial services provider’s stock worth $3,722,000 after buying an additional 146 shares during the last quarter. Washington Trust Advisors Inc. increased its position in Charles Schwab by 62.6% during the third quarter. Washington Trust Advisors Inc. now owns 387 shares of the financial services provider’s stock worth $25,000 after buying an additional 149 shares during the last quarter. Arcataur Capital Management LLC increased its position in Charles Schwab by 2.3% during the third quarter. Arcataur Capital Management LLC now owns 6,648 shares of the financial services provider’s stock worth $431,000 after buying an additional 150 shares during the last quarter. Finally, Tandem Capital Management Corp ADV increased its position in Charles Schwab by 0.3% during the third quarter. Tandem Capital Management Corp ADV now owns 49,537 shares of the financial services provider’s stock worth $3,210,000 after buying an additional 150 shares during the last quarter. Institutional investors and hedge funds own 84.38% of the company’s stock.

Insider Buying and Selling

In other Charles Schwab news, Director Carolyn Schwab-Pomerantz sold 9,000 shares of Charles Schwab stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $64.05, for a total value of $576,450.00. Following the sale, the director now directly owns 554,929 shares in the company, valued at approximately $35,543,202.45. The trade was a 1.60 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Chairman Charles R. Schwab sold 62,345 shares of the business’s stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $72.52, for a total transaction of $4,521,259.40. Following the completion of the sale, the chairman now owns 60,619,371 shares in the company, valued at approximately $4,396,116,784.92. This trade represents a 0.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 127,968 shares of company stock worth $9,419,271. 6.60% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. StockNews.com raised Charles Schwab from a “sell” rating to a “hold” rating in a research report on Wednesday, October 16th. Jefferies Financial Group decreased their target price on Charles Schwab from $79.00 to $73.00 and set a “buy” rating on the stock in a research report on Friday, October 4th. Deutsche Bank Aktiengesellschaft upped their target price on Charles Schwab from $77.00 to $80.00 and gave the company a “buy” rating in a research report on Monday, November 11th. Wells Fargo & Company upped their target price on Charles Schwab from $70.00 to $75.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 16th. Finally, Keefe, Bruyette & Woods increased their price target on Charles Schwab from $76.00 to $81.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Charles Schwab has a consensus rating of “Hold” and a consensus target price of $74.18.

Charles Schwab Stock Performance

Charles Schwab stock opened at $82.76 on Friday. 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 firm has a 50-day moving average of $72.37 and a 200-day moving average of $70.03. The firm has a market cap of $147.28 billion, a P/E ratio of 32.33, a P/E/G ratio of 1.79 and a beta of 0.96. The Charles Schwab Co. has a 1-year low of $59.61 and a 1-year high of $83.35.

Charles Schwab (NYSE:SCHW) last issued its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $0.77 EPS for the quarter, topping the consensus estimate of $0.75 by $0.02. Charles Schwab had a net margin of 27.47% and a return on equity of 16.92%. The business had revenue of $4.85 billion during the quarter, compared to analyst estimates of $4.78 billion. During the same period last year, the business posted $0.77 earnings per share. Charles Schwab’s quarterly revenue was up 5.2% compared to the same quarter last year. Sell-side analysts expect that The Charles Schwab Co. will post 3.12 EPS for the current year.

Charles Schwab Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Friday, November 8th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.21%. The ex-dividend date was Friday, November 8th. Charles Schwab’s dividend payout ratio is currently 39.06%.

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.