Cullen Frost Bankers Inc. reduced its stake in Charles Schwab Co. (NYSE:SCHW) by 83.1% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 66,453 shares of the financial services provider’s stock after selling 327,184 shares during the period. Cullen Frost Bankers Inc.’s holdings in Charles Schwab were worth $2,780,000 at the end of the most recent quarter.
Several other large investors also recently bought and sold shares of the company. First Trust Advisors LP acquired a new position in Charles Schwab in the 1st quarter valued at approximately $1,805,000. First Financial Bank Trust Division boosted its position in shares of Charles Schwab by 7.1% in the 2nd quarter. First Financial Bank Trust Division now owns 73,408 shares of the financial services provider’s stock worth $2,950,000 after purchasing an additional 4,882 shares during the last quarter. Thomasville National Bank boosted its position in shares of Charles Schwab by 6.1% in the 2nd quarter. Thomasville National Bank now owns 127,792 shares of the financial services provider’s stock worth $5,136,000 after purchasing an additional 7,381 shares during the last quarter. Park National Corp OH boosted its position in shares of Charles Schwab by 28.2% in the 2nd quarter. Park National Corp OH now owns 193,221 shares of the financial services provider’s stock worth $7,766,000 after purchasing an additional 42,489 shares during the last quarter. Finally, Private Trust Co. NA boosted its position in shares of Charles Schwab by 3.8% in the 2nd quarter. Private Trust Co. NA now owns 20,247 shares of the financial services provider’s stock worth $813,000 after purchasing an additional 733 shares during the last quarter. Institutional investors and hedge funds own 79.10% of the company’s stock.
Shares of NYSE:SCHW traded up $0.23 during midday trading on Friday, reaching $43.74. The company had a trading volume of 1,795,274 shares, compared to its average volume of 8,394,092. Charles Schwab Co. has a 1-year low of $34.58 and a 1-year high of $49.24. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.40. The stock has a market cap of $56.76 billion, a PE ratio of 17.85, a P/E/G ratio of 2.73 and a beta of 1.32. The business’s 50 day moving average price is $40.02 and its 200 day moving average price is $41.17.
Charles Schwab (NYSE:SCHW) last posted its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.65 by $0.05. Charles Schwab had a return on equity of 20.85% and a net margin of 35.12%. The business had revenue of $2.71 billion during the quarter, compared to analysts’ expectations of $2.65 billion. During the same quarter last year, the company posted $0.65 earnings per share. Charles Schwab’s quarterly revenue was up 5.1% on a year-over-year basis. On average, research analysts expect that Charles Schwab Co. will post 2.73 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Friday, November 8th will be issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.55%. The ex-dividend date of this dividend is Thursday, November 7th. Charles Schwab’s dividend payout ratio is presently 27.76%.
In other news, EVP Jonathan M. Craig sold 3,740 shares of Charles Schwab stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $38.97, for a total value of $145,747.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Stephen T. Mclin sold 5,093 shares of Charles Schwab stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $37.56, for a total transaction of $191,293.08. Following the completion of the sale, the director now owns 7,297 shares of the company’s stock, valued at $274,075.32. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 219,677 shares of company stock valued at $8,993,241. Corporate insiders own 10.90% of the company’s stock.
Several analysts recently commented on SCHW shares. Raymond James downgraded Charles Schwab from an “outperform” rating to a “market perform” rating in a research note on Tuesday. They noted that the move was a valuation call. Citigroup lifted their target price on Charles Schwab from $37.00 to $40.00 and gave the company a “neutral” rating in a research report on Wednesday, October 16th. Argus reaffirmed a “buy” rating and issued a $52.00 target price (down previously from $57.00) on shares of Charles Schwab in a research report on Wednesday, July 17th. Sandler O’Neill set a $45.00 target price on Charles Schwab and gave the company a “buy” rating in a research report on Tuesday, October 15th. Finally, Morgan Stanley lifted their target price on Charles Schwab from $43.00 to $45.00 and gave the company an “overweight” rating in a research report on Monday, October 21st. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $44.38.
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 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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