First American Bank Acquires 1,341 Shares of The Charles Schwab Co. (NYSE:SCHW)

First American Bank raised its holdings in The Charles Schwab Co. (NYSE:SCHW) by 2.6% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 52,738 shares of the financial services provider’s stock after purchasing an additional 1,341 shares during the quarter. First American Bank’s holdings in Charles Schwab were worth $3,903,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. State Street Corp lifted its position in Charles Schwab by 0.7% during the 3rd quarter. State Street Corp now owns 62,076,447 shares of the financial services provider’s stock worth $4,023,175,000 after buying an additional 414,949 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Charles Schwab by 1.5% in the third quarter. Geode Capital Management LLC now owns 30,141,441 shares of the financial services provider’s stock worth $1,945,614,000 after acquiring an additional 445,304 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its position in shares of Charles Schwab by 6.3% during the third quarter. Massachusetts Financial Services Co. MA now owns 28,679,305 shares of the financial services provider’s stock worth $1,858,706,000 after purchasing an additional 1,711,312 shares in the last quarter. Franklin Resources Inc. boosted its position in Charles Schwab by 15.0% in the 3rd quarter. Franklin Resources Inc. now owns 24,261,234 shares of the financial services provider’s stock valued at $1,644,674,000 after buying an additional 3,157,923 shares during the last quarter. Finally, Fisher Asset Management LLC increased its position in Charles Schwab by 2.5% in the third quarter. Fisher Asset Management LLC now owns 20,189,558 shares of the financial services provider’s stock worth $1,308,485,000 after purchasing an additional 493,264 shares during the period. Institutional investors and hedge funds own 84.38% of the company’s stock.

Analysts Set New Price Targets

SCHW has been the topic of a number of research reports. TD Cowen upgraded shares of Charles Schwab from a “hold” rating to a “buy” rating and upped their target price for the company from $88.00 to $103.00 in a research report on Tuesday, February 18th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Charles Schwab from $98.00 to $105.00 and gave the company a “buy” rating in a research note on Wednesday, January 22nd. Barclays upped their target price on shares of Charles Schwab from $95.00 to $96.00 and gave the company an “overweight” rating in a research report on Wednesday, January 22nd. Wells Fargo & Company upgraded Charles Schwab from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $89.00 to $93.00 in a research report on Wednesday, January 22nd. Finally, Citigroup upped their price objective on Charles Schwab from $80.00 to $85.00 and gave the company a “neutral” rating in a report on Wednesday, January 22nd. Two analysts have rated the stock with a sell rating, six have given a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $86.33.

Insider Activity at Charles Schwab

In other news, General Counsel Peter J. Morgan III sold 14,643 shares of Charles Schwab stock in a transaction on Wednesday, January 22nd. The stock was sold at an average price of $80.70, for a total transaction of $1,181,690.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Walter W. Bettinger sold 464,629 shares of Charles Schwab stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $81.91, for a total transaction of $38,057,761.39. Following the completion of the sale, the chairman now owns 827,377 shares of the company’s stock, valued at $67,770,450.07. This trade represents a 35.96 % 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. Company insiders own 6.60% of the company’s stock.

Charles Schwab Price Performance

SCHW stock opened at $78.53 on Friday. The stock has a 50-day moving average price of $78.27 and a two-hundred day moving average price of $73.41. The Charles Schwab Co. has a 1 year low of $61.01 and a 1 year high of $84.50. The stock has a market cap of $139.87 billion, a PE ratio of 26.26, a price-to-earnings-growth ratio of 0.99 and a beta of 0.99. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 0.59.

Charles Schwab (NYSE:SCHW) last issued its quarterly earnings results on Tuesday, January 21st. The financial services provider reported $1.01 earnings per share (EPS) 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 firm had revenue of $5.33 billion for the quarter, compared to analyst estimates of $5.19 billion. During the same period in the previous year, the business earned $0.68 EPS. The company’s revenue was up 19.5% compared to the same quarter last year. Equities analysts forecast that The Charles Schwab Co. will post 4.22 EPS 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. Investors of record on Friday, February 14th will be issued a dividend of $0.27 per share. The ex-dividend date is Friday, February 14th. This is a positive change from Charles Schwab’s previous quarterly dividend of $0.25. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.38%. Charles Schwab’s payout ratio is presently 36.12%.

About Charles Schwab

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.