First Financial Bank Trust Division lowered its position in The Charles Schwab Co. (NYSE:SCHW) by 2.5% in the 1st quarter, Holdings Channel reports. The fund owned 93,419 shares of the financial services provider’s stock after selling 2,368 shares during the quarter. First Financial Bank Trust Division’s holdings in The Charles Schwab were worth $6,090,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. First Trust Advisors LP purchased a new position in shares of The Charles Schwab during the first quarter valued at approximately $1,805,000. Cetera Advisor Networks LLC increased its position in The Charles Schwab by 9.6% during the 3rd quarter. Cetera Advisor Networks LLC now owns 6,407 shares of the financial services provider’s stock valued at $232,000 after buying an additional 559 shares in the last quarter. Eudaimonia Partners LLC raised its stake in The Charles Schwab by 45.9% during the third quarter. Eudaimonia Partners LLC now owns 3,396 shares of the financial services provider’s stock valued at $123,000 after buying an additional 1,069 shares during the last quarter. Chartwell Investment Partners LLC bought a new stake in The Charles Schwab in the third quarter worth $1,552,000. Finally, Great West Life Assurance Co. Can raised its position in shares of The Charles Schwab by 0.7% in the 3rd quarter. Great West Life Assurance Co. Can now owns 1,433,040 shares of the financial services provider’s stock worth $51,949,000 after purchasing an additional 10,283 shares during the last quarter. Institutional investors own 77.47% of the company’s stock.
Shares of SCHW traded down $0.75 on Thursday, reaching $66.30. The company’s stock had a trading volume of 46,812 shares, compared to its average volume of 8,557,845. The Charles Schwab Co. has a 12-month low of $31.63 and a 12-month high of $68.89. The stock has a market capitalization of $119.54 billion, a P/E ratio of 31.04 and a beta of 1.17. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.28 and a quick ratio of 0.28. The stock’s 50 day simple moving average is $64.70 and its two-hundred day simple moving average is $52.26.
The business also recently declared a quarterly dividend, which was paid on Friday, February 26th. Shareholders of record on Friday, February 12th were issued a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 1.09%. The ex-dividend date was Thursday, February 11th. The Charles Schwab’s dividend payout ratio is presently 26.47%.
Several research analysts have recently issued reports on SCHW shares. Bank of America upgraded shares of The Charles Schwab from a “neutral” rating to a “buy” rating and upped their target price for the stock from $52.00 to $68.00 in a research note on Tuesday, January 12th. Wells Fargo & Company upped their price objective on The Charles Schwab from $60.00 to $70.00 and gave the company an “overweight” rating in a research report on Wednesday, January 20th. The Goldman Sachs Group raised The Charles Schwab from a “buy” rating to a “conviction-buy” rating and lifted their target price for the stock from $67.00 to $77.00 in a report on Monday. Morgan Stanley upped their price target on The Charles Schwab from $76.00 to $83.00 and gave the company an “overweight” rating in a report on Wednesday, March 31st. Finally, Credit Suisse Group lifted their price objective on The Charles Schwab from $60.00 to $61.00 and gave the stock a “neutral” rating in a report on Thursday, February 4th. Five analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $60.07.
In other The Charles Schwab news, EVP Bernard J. Clark sold 29,976 shares of The Charles Schwab stock in a transaction that occurred on Monday, January 11th. The shares were sold at an average price of $60.01, for a total transaction of $1,798,859.76. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Peter B. Crawford sold 3,500 shares of the company’s stock in a transaction that occurred on Friday, March 12th. The stock was sold at an average price of $68.00, for a total transaction of $238,000.00. Following the completion of the transaction, the chief financial officer now owns 798 shares of the company’s stock, valued at $54,264. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,372,113 shares of company stock valued at $81,135,176. Company insiders own 10.80% of the company’s stock.
The 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 in 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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