Charles Schwab Corp (SCHW) Position Increased by Aviance Capital Partners LLC
Aviance Capital Partners LLC increased its stake in Charles Schwab Corp (NYSE:SCHW) by 52.1% in the fourth quarter, HoldingsChannel reports. The firm owned 59,944 shares of the financial services provider’s stock after purchasing an additional 20,531 shares during the period. Charles Schwab comprises 1.0% of Aviance Capital Partners LLC’s holdings, making the stock its 15th largest position. Aviance Capital Partners LLC’s holdings in Charles Schwab were worth $3,079,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds also recently added to or reduced their stakes in the company. Bogart Wealth LLC raised its position in Charles Schwab by 1,100.0% during 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. Pinnacle Wealth Planning Services Inc. purchased a new position in Charles Schwab during the 4th quarter worth approximately $118,000. Zions Bancorporation raised its position in Charles Schwab by 1,545.3% during 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 position in Charles Schwab during the 4th quarter worth approximately $187,000. Finally, Lourd Capital LLC purchased a new position in Charles Schwab during the 4th quarter worth approximately $208,000. Institutional investors own 80.45% of the company’s stock.
A number of research firms have issued reports on SCHW. Credit Suisse Group began coverage on shares of Charles Schwab in a research report on Thursday, November 30th. They set an “outperform” rating and a $55.00 price target for the company. Wells Fargo & Co reissued a “market perform” rating and set a $55.00 price target (up from $47.00) on shares of Charles Schwab in a research report on Thursday, January 4th. Zacks Investment Research raised shares of Charles Schwab from a “hold” rating to a “strong-buy” rating and set a $60.00 price target for the company in a research report on Friday, January 5th. Morgan Stanley raised their price target on shares of Charles Schwab from $61.00 to $63.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 30th. Finally, Argus raised their price target on shares of Charles Schwab from $59.00 to $69.00 and gave the stock a “buy” rating in a research report on Thursday, January 18th. One research analyst has rated the stock with a sell rating, six have given a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. Charles Schwab has an average rating of “Buy” and an average target price of $54.33.
Charles Schwab (NYSE:SCHW) last posted its earnings results on Wednesday, January 17th. The financial services provider reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.03. The firm had revenue of $2.24 billion during the quarter, compared to analyst estimates of $2.24 billion. Charles Schwab had a net margin of 27.32% and a return on equity of 16.03%. The business’s quarterly revenue was up 13.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.36 EPS. sell-side analysts anticipate that Charles Schwab Corp will post 2.4 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, February 23rd. Investors of record on Friday, February 9th were issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 0.76%. The ex-dividend date of this dividend was Thursday, February 8th. This is a positive change from Charles Schwab’s previous quarterly dividend of $0.08. Charles Schwab’s payout ratio is presently 24.24%.
In related news, EVP Terri R. Kallsen sold 1,982 shares of the business’s stock in a transaction on Wednesday, December 6th. The shares were sold at an average price of $50.55, for a total value of $100,190.10. Following the completion of the sale, the executive vice president now owns 1,706 shares of the company’s stock, valued at approximately $86,238.30. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Chairman Charles R. Schwab sold 300,000 shares of the business’s stock in a transaction on Thursday, January 18th. The stock was sold at an average price of $55.31, for a total transaction of $16,593,000.00. The disclosure for this sale can be found here. In the last three months, insiders sold 923,646 shares of company stock valued at $50,359,705. 12.00% of the stock is owned by insiders.
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About Charles Schwab
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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