The Charles Schwab Co. (NYSE:SCHW) Shares Sold by Independence Bank of Kentucky

Independence Bank of Kentucky reduced its stake in The Charles Schwab Co. (NYSE:SCHW) by 3.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 15,915 shares of the financial services provider’s stock after selling 515 shares during the period. Independence Bank of Kentucky’s holdings in Charles Schwab were worth $1,178,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in SCHW. SeaBridge Investment Advisors LLC acquired a new stake in shares of Charles Schwab in the 4th quarter worth about $328,000. Marietta Wealth Management LLC increased its stake in shares of Charles Schwab by 1.9% in the fourth quarter. Marietta Wealth Management LLC now owns 69,247 shares of the financial services provider’s stock valued at $5,125,000 after purchasing an additional 1,300 shares during the period. Manuka Financial LLC bought a new stake in shares of Charles Schwab during the fourth quarter valued at approximately $222,000. Scharf Investments LLC bought a new position in Charles Schwab in the 4th quarter worth approximately $1,093,000. Finally, Everett Harris & Co. CA grew its holdings in Charles Schwab by 0.5% in the 4th quarter. Everett Harris & Co. CA now owns 210,334 shares of the financial services provider’s stock worth $15,567,000 after buying an additional 1,105 shares in the last quarter. 84.38% of the stock is owned by institutional investors.

Charles Schwab Trading Down 1.0 %

Charles Schwab stock opened at $82.73 on Friday. The company has a 50 day moving average price of $77.97 and a 200 day moving average price of $71.14. 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 52 week low of $61.01 and a 52 week high of $83.84. The firm has a market capitalization of $147.22 billion, a price-to-earnings ratio of 27.67, a P/E/G ratio of 1.00 and a beta of 0.99.

Charles Schwab (NYSE:SCHW) last issued its quarterly earnings results on Tuesday, January 21st. The financial services provider reported $1.01 earnings per share for the quarter, beating analysts’ consensus estimates of $0.90 by $0.11. The business had revenue of $5.33 billion for the quarter, compared to the consensus estimate of $5.19 billion. Charles Schwab had a return on equity of 18.20% and a net margin of 30.31%. Charles Schwab’s revenue for the quarter was up 19.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.68 earnings per share. Research analysts forecast that The Charles Schwab Co. will post 4.18 EPS for the current year.

Charles Schwab Increases Dividend

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

Insider Buying and Selling

In related news, insider Jonathan S. Beatty sold 2,500 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $77.02, for a total transaction of $192,550.00. Following the transaction, the insider now owns 18,069 shares of the company’s stock, valued at approximately $1,391,674.38. This trade represents a 12.15 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Peter J. Morgan III sold 14,643 shares of the business’s stock in a transaction that occurred on Wednesday, January 22nd. The stock was sold at an average price of $80.70, for a total transaction of $1,181,690.10. The disclosure for this sale can be found here. Over the last three months, insiders sold 50,014 shares of company stock worth $4,052,281. 6.60% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of brokerages have issued reports on SCHW. Piper Sandler boosted their price target on Charles Schwab from $65.00 to $70.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 7th. JMP Securities reissued a “market outperform” rating and set a $94.00 target price (up previously from $84.00) on shares of Charles Schwab in a research note on Monday, December 9th. Redburn Partners dropped their price target on shares of Charles Schwab from $70.00 to $68.00 and set a “sell” rating on the stock in a research report on Friday, January 17th. Jefferies Financial Group increased their price objective on shares of Charles Schwab from $84.00 to $94.00 and gave the company a “buy” rating in a report on Monday, December 9th. Finally, Keefe, Bruyette & Woods boosted their target price on Charles Schwab from $81.00 to $93.00 and gave the stock an “outperform” rating in a report on Friday, December 20th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $84.11.

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.