1ST Source Bank Sells 608 Shares of The Charles Schwab Co. (NYSE:SCHW)

1ST Source Bank cut its holdings in The Charles Schwab Co. (NYSE:SCHW) by 2.5% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 23,760 shares of the financial services provider’s stock after selling 608 shares during the quarter. 1ST Source Bank’s holdings in Charles Schwab were worth $1,540,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in SCHW. Franklin Resources Inc. lifted 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 worth $1,644,674,000 after buying an additional 3,157,923 shares during the last quarter. Darsana Capital Partners LP increased its position in shares of Charles Schwab by 200.0% during the 2nd quarter. Darsana Capital Partners LP now owns 3,000,000 shares of the financial services provider’s stock valued at $221,070,000 after purchasing an additional 2,000,000 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its position in 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 valued at $1,858,706,000 after purchasing an additional 1,711,312 shares in the last quarter. AustralianSuper Pty Ltd lifted its holdings in Charles Schwab by 2,617.6% during the third quarter. AustralianSuper Pty Ltd now owns 1,707,771 shares of the financial services provider’s stock valued at $110,681,000 after purchasing an additional 1,644,931 shares in the last quarter. Finally, Two Sigma Advisers LP purchased a new stake in shares of Charles Schwab in the third quarter worth $86,845,000. Institutional investors and hedge funds own 84.38% of the company’s stock.

Charles Schwab Stock Down 3.7 %

Shares of SCHW stock traded down $3.08 during trading hours on Friday, reaching $79.77. 3,817,835 shares of the company’s stock were exchanged, compared to its average volume of 7,971,561. 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 stock’s fifty day moving average price is $75.55 and its two-hundred day moving average price is $70.41. The Charles Schwab Co. has a 1 year low of $59.67 and a 1 year high of $83.35. The stock has a market cap of $141.96 billion, a PE ratio of 32.36, a PEG ratio of 1.79 and a beta of 0.96.

Charles Schwab (NYSE:SCHW) last released its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $0.77 earnings per share for the quarter, beating analysts’ consensus estimates of $0.75 by $0.02. Charles Schwab had a net margin of 27.47% and a return on equity of 16.92%. The company had revenue of $4.85 billion during the quarter, compared to analysts’ expectations of $4.78 billion. During the same quarter in the previous year, the company earned $0.77 earnings per share. The firm’s revenue for the quarter was up 5.2% on a year-over-year basis. Research analysts predict that The Charles Schwab Co. will post 3.12 EPS for the current year.

Charles Schwab Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Friday, November 8th were paid a dividend of $0.25 per share. The ex-dividend date was Friday, November 8th. This represents a $1.00 annualized dividend and a yield of 1.25%. Charles Schwab’s dividend payout ratio (DPR) is presently 39.06%.

Insider Buying and Selling at Charles Schwab

In other Charles Schwab news, insider Jonathan S. Beatty sold 2,300 shares of the stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $82.01, for a total transaction of $188,623.00. Following the sale, the insider now directly owns 18,069 shares in the company, valued at $1,481,838.69. This represents a 11.29 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available 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 value of $4,521,259.40. Following the transaction, the chairman now directly owns 60,619,371 shares of the company’s stock, valued at approximately $4,396,116,784.92. This represents a 0.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 127,968 shares of company stock worth $9,419,271. Insiders own 6.60% of the company’s stock.

Wall Street Analysts Forecast Growth

SCHW has been the topic of a number of recent analyst reports. Raymond James decreased their price target on Charles Schwab from $76.00 to $73.00 in a report on Tuesday, October 15th. Piper Sandler increased their price objective on shares of Charles Schwab from $64.00 to $65.00 and gave the company a “neutral” rating in a report on Wednesday, October 16th. Keefe, Bruyette & Woods boosted their target price on Charles Schwab from $76.00 to $81.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. Cowen lifted their price objective on Charles Schwab from $69.00 to $75.00 and gave the stock a “hold” rating in a research note on Tuesday, October 15th. Finally, Barclays upgraded Charles Schwab from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $74.00 to $95.00 in a research report on Monday. One research analyst has rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $79.75.

Charles Schwab Company 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.