Gabelli Funds LLC Buys 5,000 Shares of Charles Schwab Corp (SCHW)
Gabelli Funds LLC increased its stake in Charles Schwab Corp (NYSE:SCHW) by 2.3% during the 4th quarter, Holdings Channel reports. The institutional investor owned 226,100 shares of the financial services provider’s stock after buying an additional 5,000 shares during the quarter. Gabelli Funds LLC’s holdings in Charles Schwab were worth $11,615,000 as of its most recent SEC filing.
Other institutional investors also recently bought and sold shares of the company. Bogart Wealth LLC grew its stake in shares of Charles Schwab by 1,100.0% in the 4th quarter. Bogart Wealth LLC now owns 2,040 shares of the financial services provider’s stock worth $105,000 after buying an additional 1,870 shares during the last quarter. Zions Bancorporation grew its stake in shares of Charles Schwab by 1,545.3% in the 3rd quarter. Zions Bancorporation now owns 3,817 shares of the financial services provider’s stock worth $167,000 after buying an additional 3,585 shares during the last quarter. Acadian Asset Management LLC purchased a new stake in shares of Charles Schwab in the 4th quarter worth approximately $187,000. Lourd Capital LLC purchased a new stake in shares of Charles Schwab in the 4th quarter worth approximately $208,000. Finally, Fiduciary Trust Co. purchased a new stake in shares of Charles Schwab in the 4th quarter worth approximately $208,000. Institutional investors own 79.72% of the company’s stock.
Several brokerages have commented on SCHW. Citigroup downgraded Charles Schwab from a “neutral” rating to a “sell” rating and set a $49.00 target price on the stock. in a research note on Wednesday. Credit Suisse Group cut their target price on Charles Schwab from $70.00 to $69.00 and set an “outperform” rating on the stock in a research note on Wednesday. Morgan Stanley increased their target price on Charles Schwab from $61.00 to $63.00 and gave the company an “overweight” rating in a research note on Tuesday, January 30th. JMP Securities downgraded Charles Schwab from an “outperform” rating to a “market perform” rating in a research note on Wednesday, January 3rd. Finally, Nomura reiterated a “neutral” rating and set a $54.00 target price (up from $50.00) on shares of Charles Schwab in a research note on Thursday, January 18th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $53.88.
Charles Schwab Corp (NYSE SCHW) opened at $50.12 on Friday. The stock has a market capitalization of $65,554.17, a price-to-earnings ratio of 29.82, a PEG ratio of 1.21 and a beta of 1.63. Charles Schwab Corp has a 52 week low of $37.16 and a 52 week high of $56.25. The company has a quick ratio of 0.30, a current ratio of 0.31 and a debt-to-equity ratio of 0.21.
Charles Schwab (NYSE:SCHW) last released its quarterly earnings results on Wednesday, January 17th. The financial services provider reported $0.44 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.41 by $0.03. The firm had revenue of $2.24 billion for the quarter, compared to the consensus estimate of $2.24 billion. Charles Schwab had a return on equity of 16.31% and a net margin of 27.32%. The company’s revenue for the quarter was up 13.7% on a year-over-year basis. During the same period last year, the business posted $0.36 EPS. research analysts predict that Charles Schwab Corp will post 2.37 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, February 23rd. Stockholders of record on Friday, February 9th will be paid a $0.10 dividend. This is an increase from Charles Schwab’s previous quarterly dividend of $0.08. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.80%. The ex-dividend date of this dividend is Thursday, February 8th. Charles Schwab’s dividend payout ratio (DPR) is 24.84%.
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Charles Schwab Company Profile
The Charles Schwab Corporation (CSC) is a savings and loan holding company. The Company, through its subsidiaries, engages in wealth management, securities brokerage, banking, money management and financial advisory services. The Company provides financial services to individuals and institutional clients through two segments: Investor Services and Advisor Services.
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