Pacific Capital Partners Ltd Makes New Investment in The Charles Schwab Corporation $SCHW

Pacific Capital Partners Ltd bought a new stake in The Charles Schwab Corporation (NYSE:SCHW) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 22,924 shares of the financial services provider’s stock, valued at approximately $2,189,000. Charles Schwab comprises approximately 2.4% of Pacific Capital Partners Ltd’s portfolio, making the stock its 18th largest holding.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Federated Hermes Inc. grew its stake in shares of Charles Schwab by 2,112.7% during the second quarter. Federated Hermes Inc. now owns 181,793 shares of the financial services provider’s stock worth $16,587,000 after purchasing an additional 173,577 shares during the period. Vanguard Personalized Indexing Management LLC increased its position in shares of Charles Schwab by 26.8% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 190,538 shares of the financial services provider’s stock worth $17,387,000 after acquiring an additional 40,275 shares in the last quarter. Figure 8 Investment Strategies LLC acquired a new stake in Charles Schwab in the 2nd quarter valued at approximately $924,000. PFG Investments LLC boosted its holdings in Charles Schwab by 10.2% during the second quarter. PFG Investments LLC now owns 5,951 shares of the financial services provider’s stock worth $543,000 after purchasing an additional 550 shares during the last quarter. Finally, W.H. Cornerstone Investments Inc. bought a new position in Charles Schwab in the second quarter valued at approximately $246,000. 84.38% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Morgan Stanley increased their price target on Charles Schwab from $139.00 to $148.00 and gave the company an “overweight” rating in a research note on Monday, December 22nd. Citigroup restated a “market outperform” rating on shares of Charles Schwab in a research note on Monday. BMO Capital Markets started coverage on Charles Schwab in a report on Friday, October 3rd. They set an “outperform” rating and a $110.00 price target on the stock. Raymond James Financial reissued an “outperform” rating and set a $114.00 target price on shares of Charles Schwab in a research report on Monday, January 5th. Finally, Barclays boosted their price objective on Charles Schwab from $111.00 to $120.00 and gave the company an “overweight” rating in a research note on Thursday, January 8th. One analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, Charles Schwab has a consensus rating of “Moderate Buy” and a consensus price target of $112.19.

Charles Schwab Price Performance

Shares of NYSE SCHW opened at $101.07 on Wednesday. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 0.47. The stock has a fifty day simple moving average of $96.65 and a two-hundred day simple moving average of $95.30. The Charles Schwab Corporation has a 1-year low of $65.88 and a 1-year high of $104.76. The firm has a market cap of $179.59 billion, a price-to-earnings ratio of 23.67, a price-to-earnings-growth ratio of 0.71 and a beta of 0.94.

Charles Schwab (NYSE:SCHW) last issued its quarterly earnings results on Thursday, October 16th. The financial services provider reported $1.31 EPS for the quarter, beating analysts’ consensus estimates of $1.25 by $0.06. The firm had revenue of $6.38 billion for the quarter, compared to analysts’ expectations of $5.93 billion. Charles Schwab had a return on equity of 21.02% and a net margin of 35.93%.The business’s revenue for the quarter was up 26.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.71 EPS. Analysts anticipate that The Charles Schwab Corporation will post 4.22 earnings per share for the current year.

Charles Schwab Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 28th. Stockholders of record on Friday, November 14th were paid a $0.27 dividend. The ex-dividend date was Friday, November 14th. This represents a $1.08 annualized dividend and a dividend yield of 1.1%. Charles Schwab’s dividend payout ratio (DPR) is presently 25.29%.

Insider Activity

In related news, insider Jonathan S. Beatty sold 2,000 shares of Charles Schwab stock in a transaction that occurred on Tuesday, December 23rd. The shares were sold at an average price of $102.01, for a total value of $204,020.00. Following the completion of the transaction, the insider directly owned 11,923 shares in the company, valued at approximately $1,216,265.23. The trade was a 14.36% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 6.30% of the stock is currently owned by company insiders.

Charles Schwab Profile

Charles Schwab Corporation (NYSE: SCHW) is a diversified financial services firm that provides brokerage, banking, wealth management and advisory services to individual investors, independent investment advisors and institutional clients. Its primary offerings include retail brokerage accounts, online trading platforms, Schwab-branded mutual funds and exchange-traded funds (ETFs), retirement plan services, custodial services for independent Registered Investment Advisors (RIAs), and banking products through Charles Schwab Bank.