The Charles Schwab Co. (NYSE:SCHW) Shares Bought by Western Pacific Wealth Management LP

Western Pacific Wealth Management LP lifted its holdings in shares of The Charles Schwab Co. (NYSE:SCHW) by 26.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,415 shares of the financial services provider’s stock after buying an additional 1,130 shares during the period. Western Pacific Wealth Management LP’s holdings in Charles Schwab were worth $401,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Merit Financial Group LLC raised its position in shares of Charles Schwab by 230.1% during the 4th quarter. Merit Financial Group LLC now owns 33,546 shares of the financial services provider’s stock worth $2,483,000 after buying an additional 23,383 shares in the last quarter. Benjamin Edwards Inc. increased its stake 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 acquiring an additional 5,937 shares during the period. Synovus Financial Corp raised its holdings in Charles Schwab by 46.0% during the third quarter. Synovus Financial Corp now owns 67,889 shares of the financial services provider’s stock worth $4,400,000 after purchasing an additional 21,377 shares in the last quarter. Patten & Patten Inc. TN lifted its position in 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 during the period. Finally, Equity Investment Corp boosted its stake in Charles Schwab by 9.4% during the 3rd quarter. Equity Investment Corp now owns 1,640,157 shares of the financial services provider’s stock valued at $106,299,000 after purchasing an additional 140,643 shares in the last quarter. 84.38% of the stock is owned by institutional investors.

Charles Schwab Stock Performance

Shares of Charles Schwab stock opened at $82.73 on Friday. The Charles Schwab Co. has a 12 month low of $61.01 and a 12 month high of $83.84. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 0.59. The stock has a market cap of $147.22 billion, a PE ratio of 27.67, a price-to-earnings-growth ratio of 1.00 and a beta of 0.99. The business has a fifty day simple moving average of $77.97 and a 200-day simple moving average of $71.16.

Charles Schwab (NYSE:SCHW) last announced its quarterly earnings data on Tuesday, January 21st. The financial services provider reported $1.01 EPS for the quarter, topping analysts’ consensus estimates of $0.90 by $0.11. Charles Schwab had a return on equity of 18.20% and a net margin of 30.31%. The firm had revenue of $5.33 billion during the quarter, compared to analyst estimates of $5.19 billion. During the same period last year, the company posted $0.68 EPS. The business’s quarterly revenue was up 19.5% compared to the same quarter last year. On average, sell-side analysts anticipate that The Charles Schwab Co. will post 4.18 EPS for the current fiscal year.

Charles Schwab Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Friday, February 14th will be given a dividend of $0.27 per share. The ex-dividend date of this dividend is Friday, February 14th. This is an increase from Charles Schwab’s previous quarterly dividend of $0.25. This represents a $1.08 dividend on an annualized basis and a yield of 1.31%. Charles Schwab’s payout ratio is presently 33.44%.

Analysts Set New Price Targets

A number of analysts have recently commented on SCHW shares. Barclays boosted their price objective on Charles Schwab from $95.00 to $96.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 22nd. Cowen boosted their price target on shares of Charles Schwab from $69.00 to $75.00 and gave the stock a “hold” rating in a research report on Tuesday, October 15th. Truist Financial reissued a “buy” rating and issued a $90.00 price target (up from $86.00) on shares of Charles Schwab in a report on Wednesday, January 22nd. UBS Group lifted their price objective on shares of Charles Schwab from $90.00 to $95.00 and gave the stock a “buy” rating in a research note on Monday, January 27th. Finally, Piper Sandler increased their target price on shares of Charles Schwab from $65.00 to $70.00 and gave the company a “neutral” rating in a research note on Tuesday, January 7th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $84.11.

Insider Buying and Selling at Charles Schwab

In related news, insider Jonathan S. Beatty sold 2,500 shares of the stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $77.02, for a total value of $192,550.00. Following the transaction, the insider now owns 18,069 shares in the company, valued at approximately $1,391,674.38. This represents a 12.15 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible 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 transaction of $755,996.12. Following the transaction, the director now directly owns 442,807 shares in the company, valued at approximately $36,057,774.01. The trade was a 2.05 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 50,014 shares of company stock worth $4,052,281. 6.60% of the stock is currently owned by company insiders.

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.