Peapack Gladstone Financial Corp Has $16.99 Million Stock Holdings in The Charles Schwab Co. (NYSE:SCHW)

Peapack Gladstone Financial Corp reduced its holdings in The Charles Schwab Co. (NYSE:SCHW) by 7.9% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 262,079 shares of the financial services provider’s stock after selling 22,593 shares during the quarter. Peapack Gladstone Financial Corp’s holdings in Charles Schwab were worth $16,986,000 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 business. Benjamin Edwards Inc. lifted its position in shares of Charles Schwab by 2,840.7% during the third quarter. Benjamin Edwards Inc. now owns 6,146 shares of the financial services provider’s stock valued at $398,000 after purchasing an additional 5,937 shares in the last quarter. Patten & Patten Inc. TN increased its stake in shares of Charles Schwab by 155.9% in the third quarter. Patten & Patten Inc. TN now owns 104,168 shares of the financial services provider’s stock worth $6,751,000 after purchasing an additional 63,463 shares in the last quarter. Equity Investment Corp grew its stake in Charles Schwab by 9.4% during the third quarter. Equity Investment Corp now owns 1,640,157 shares of the financial services provider’s stock valued at $106,299,000 after acquiring an additional 140,643 shares in the last quarter. Teewinot Capital Advisers L.L.C. grew its stake in Charles Schwab by 9.0% during the second quarter. Teewinot Capital Advisers L.L.C. now owns 775,161 shares of the financial services provider’s stock valued at $57,122,000 after acquiring an additional 64,041 shares in the last quarter. Finally, Iowa State Bank grew its stake in Charles Schwab by 37.9% in the 3rd quarter. Iowa State Bank now owns 28,476 shares of the financial services provider’s stock worth $1,846,000 after buying an additional 7,829 shares in the last quarter. 84.38% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, insider Jonathan S. Beatty sold 2,300 shares of the stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $82.01, for a total value of $188,623.00. Following the completion of the sale, the insider now owns 18,069 shares in the company, valued at approximately $1,481,838.69. This trade represents a 11.29 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Christopher V. Dodds sold 9,284 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $81.43, for a total value of $755,996.12. Following the sale, the director now owns 442,807 shares of the company’s stock, valued at approximately $36,057,774.01. This trade represents a 2.05 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 127,968 shares of company stock worth $9,419,271. 6.60% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on SCHW. The Goldman Sachs Group boosted their price objective on shares of Charles Schwab from $67.00 to $74.00 and gave the stock a “neutral” rating in a report on Wednesday, October 16th. Bank of America decreased their price objective on shares of Charles Schwab from $63.00 to $61.00 and set an “underperform” rating for the company in a report on Wednesday, October 16th. Piper Sandler upped their target price on shares of Charles Schwab from $64.00 to $65.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 16th. StockNews.com raised shares of Charles Schwab from a “sell” rating to a “hold” rating in a research report on Wednesday, October 16th. Finally, Deutsche Bank Aktiengesellschaft upped their target price on shares of Charles Schwab from $77.00 to $80.00 and gave the company a “buy” rating in a research note on Monday, November 11th. One analyst has rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Charles Schwab currently has an average rating of “Hold” and an average price target of $79.75.

Charles Schwab Price Performance

SCHW opened at $82.83 on Friday. The stock’s 50-day moving average price is $75.55 and its 200 day moving average price is $70.41. The Charles Schwab Co. has a 12-month low of $59.67 and a 12-month high of $83.35. 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 market cap of $147.41 billion, a price-to-earnings ratio of 32.36, a PEG ratio of 1.79 and a beta of 0.96.

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

Charles Schwab Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Friday, November 8th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.00 dividend on an annualized basis and a yield of 1.21%. Charles Schwab’s payout ratio is 39.06%.

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.