Lee Danner & Bass Inc. Purchases Shares of 1,360 The Charles Schwab Co. (NYSE:SCHW)

Lee Danner & Bass Inc. purchased a new stake in shares of The Charles Schwab Co. (NYSE:SCHW) during the fourth quarter, HoldingsChannel reports. The fund purchased 1,360 shares of the financial services provider’s stock, valued at approximately $101,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Merit Financial Group LLC grew its position in shares of Charles Schwab by 230.1% during the fourth quarter. Merit Financial Group LLC now owns 33,546 shares of the financial services provider’s stock valued at $2,483,000 after purchasing an additional 23,383 shares in the last quarter. Benjamin Edwards Inc. grew 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. Synovus Financial Corp grew its position in shares of Charles Schwab by 46.0% during the third quarter. Synovus Financial Corp now owns 67,889 shares of the financial services provider’s stock valued at $4,400,000 after purchasing an additional 21,377 shares in the last quarter. Oregon Pacific Wealth Management LLC purchased a new position in shares of Charles Schwab during the fourth quarter valued at about $688,000. Finally, Golden State Equity Partners grew its position in shares of Charles Schwab by 293.9% during the fourth quarter. Golden State Equity Partners now owns 12,207 shares of the financial services provider’s stock valued at $903,000 after purchasing an additional 9,108 shares in the last quarter. 84.38% of the stock is owned by institutional investors.

Charles Schwab Stock Performance

Charles Schwab stock opened at $78.47 on Friday. The company has a 50 day moving average price of $78.99 and a 200-day moving average price of $74.72. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.47 and a current ratio of 0.47. The Charles Schwab Co. has a fifty-two week low of $61.01 and a fifty-two week high of $84.50. The company has a market capitalization of $142.30 billion, a PE ratio of 26.24, a P/E/G ratio of 0.99 and a beta of 0.98.

Charles Schwab (NYSE:SCHW) last posted its quarterly earnings results on Tuesday, January 21st. The financial services provider reported $1.01 earnings per share for the quarter, beating the consensus estimate of $0.90 by $0.11. The firm had revenue of $5.33 billion during the quarter, compared to the consensus estimate of $5.19 billion. Charles Schwab had a net margin of 30.31% and a return on equity of 18.20%. The company’s revenue was up 19.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.68 earnings per share. As a group, equities analysts forecast that The Charles Schwab Co. will post 4.22 earnings per share for the current year.

Charles Schwab Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 14th were paid a $0.27 dividend. This is an increase from Charles Schwab’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Friday, February 14th. This represents a $1.08 dividend on an annualized basis and a yield of 1.38%. Charles Schwab’s payout ratio is 36.12%.

Insider Buying and Selling

In related news, Director Arun Sarin sold 8,548 shares of the business’s stock in a transaction that occurred on Thursday, January 23rd. The shares were sold at an average price of $81.82, for a total value of $699,397.36. Following the completion of the transaction, the director now owns 18,617 shares of the company’s stock, valued at $1,523,242.94. The trade was a 31.47 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Chairman Walter W. Bettinger sold 464,629 shares of Charles Schwab stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $81.91, for a total transaction of $38,057,761.39. Following the completion of the transaction, the chairman now directly owns 827,377 shares in the company, valued at $67,770,450.07. This represents a 35.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 501,087 shares of company stock valued at $40,952,233 over the last 90 days. Corporate insiders own 6.60% of the company’s stock.

Wall Street Analysts Forecast Growth

SCHW has been the subject of a number of research analyst reports. Jefferies Financial Group raised their price objective on Charles Schwab from $84.00 to $94.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Wells Fargo & Company upgraded Charles Schwab from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $89.00 to $93.00 in a research report on Wednesday, January 22nd. Deutsche Bank Aktiengesellschaft lifted their price target on Charles Schwab from $98.00 to $105.00 and gave the stock a “buy” rating in a research report on Wednesday, January 22nd. Truist Financial lifted their price target on Charles Schwab from $90.00 to $91.00 and gave the stock a “buy” rating in a research report on Tuesday, February 11th. Finally, Keefe, Bruyette & Woods lifted their price target on Charles Schwab from $81.00 to $93.00 and gave the stock an “outperform” rating in a research report on Friday, December 20th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, Charles Schwab currently has a consensus rating of “Hold” and a consensus price target of $86.33.

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.