Bank of Stockton boosted its position in shares of Charles Schwab Co. (NYSE:SCHW) by 8.7% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 12,017 shares of the financial services provider’s stock after acquiring an additional 959 shares during the period. Bank of Stockton’s holdings in Charles Schwab were worth $513,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Norges Bank purchased a new position in Charles Schwab during the 4th quarter worth $443,292,000. Harris Associates L P raised its position in Charles Schwab by 197.1% during the 4th quarter. Harris Associates L P now owns 13,940,097 shares of the financial services provider’s stock worth $578,932,000 after buying an additional 9,248,471 shares during the last quarter. Oregon Public Employees Retirement Fund raised its position in Charles Schwab by 1,949.8% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 6,137,303 shares of the financial services provider’s stock worth $148,000 after buying an additional 5,837,890 shares during the last quarter. APG Asset Management N.V. raised its position in Charles Schwab by 1,183.6% during the 4th quarter. APG Asset Management N.V. now owns 3,287,200 shares of the financial services provider’s stock worth $119,422,000 after buying an additional 3,031,100 shares during the last quarter. Finally, Parnassus Investments CA raised its position in Charles Schwab by 22.3% during the 4th quarter. Parnassus Investments CA now owns 15,623,778 shares of the financial services provider’s stock worth $648,856,000 after buying an additional 2,850,678 shares during the last quarter. Institutional investors own 80.07% of the company’s stock.
Shares of SCHW opened at $45.66 on Wednesday. The company has a quick ratio of 0.83, a current ratio of 1.08 and a debt-to-equity ratio of 0.38. The stock has a market capitalization of $60.08 billion, a PE ratio of 18.64, a P/E/G ratio of 1.46 and a beta of 1.32. Charles Schwab Co. has a 52-week low of $37.83 and a 52-week high of $60.22.
Charles Schwab (NYSE:SCHW) last announced its quarterly earnings results on Monday, April 15th. The financial services provider reported $0.69 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.66 by $0.03. The business had revenue of $2.72 billion during the quarter, compared to the consensus estimate of $2.67 billion. Charles Schwab had a net margin of 35.27% and a return on equity of 20.79%. The business’s revenue was up 13.6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.55 EPS. On average, equities research analysts forecast that Charles Schwab Co. will post 2.75 EPS for the current fiscal year.
Charles Schwab announced that its board has initiated a stock buyback program on Wednesday, January 30th that authorizes the company to repurchase $4.00 billion in outstanding shares. This repurchase authorization authorizes the financial services provider to repurchase up to 6.3% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board believes its shares are undervalued.
In related news, EVP Jonathan M. Craig sold 3,740 shares of the firm’s stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $46.52, for a total value of $173,984.80. Following the sale, the executive vice president now directly owns 66,190 shares of the company’s stock, valued at $3,079,158.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Charles R. Schwab sold 250,000 shares of the firm’s stock in a transaction that occurred on Friday, February 1st. The stock was sold at an average price of $47.04, for a total transaction of $11,760,000.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 360,417 shares of company stock worth $16,845,882. 10.90% of the stock is owned by corporate insiders.
A number of equities analysts have commented on the stock. Zacks Investment Research downgraded shares of Charles Schwab from a “buy” rating to a “hold” rating in a research report on Monday, January 7th. Bank of America set a $50.00 price objective on shares of Charles Schwab and gave the stock a “buy” rating in a research report on Tuesday, April 9th. Raymond James upped their price objective on shares of Charles Schwab from $51.00 to $54.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 16th. ValuEngine upgraded shares of Charles Schwab from a “sell” rating to a “hold” rating in a research report on Wednesday, January 16th. Finally, Wells Fargo & Co cut their price objective on shares of Charles Schwab from $48.00 to $47.00 and set a “market perform” rating for the company in a research report on Friday, April 5th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and ten have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $53.22.
Charles Schwab 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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