11,647 Shares of The Charles Schwab Corporation $SCHW Acquired by Waycross Partners LLC

Waycross Partners LLC purchased a new stake in shares of The Charles Schwab Corporation (NYSE:SCHW) during the 3rd quarter, Holdings Channel reports. The institutional investor purchased 11,647 shares of the financial services provider’s stock, valued at approximately $1,138,000.

Several other hedge funds also recently made changes to their positions in SCHW. Bank of New York Mellon Corp raised its holdings in Charles Schwab by 22.9% in the first quarter. Bank of New York Mellon Corp now owns 16,162,082 shares of the financial services provider’s stock worth $1,518,913,000 after purchasing an additional 3,009,884 shares in the last quarter. Bank of America Corp DE lifted its position in Charles Schwab by 3.5% during the first quarter. Bank of America Corp DE now owns 15,623,030 shares of the financial services provider’s stock valued at $1,468,252,000 after buying an additional 530,191 shares during the period. Flossbach Von Storch SE purchased a new position in Charles Schwab during the second quarter valued at $987,930,000. Dimensional Fund Advisors LP boosted its holdings in shares of Charles Schwab by 1.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 5,742,934 shares of the financial services provider’s stock valued at $539,705,000 after buying an additional 60,979 shares in the last quarter. Finally, Provident Trust Co. boosted its holdings in shares of Charles Schwab by 0.4% during the 2nd quarter. Provident Trust Co. now owns 3,716,441 shares of the financial services provider’s stock valued at $342,916,000 after buying an additional 13,616 shares in the last quarter. 84.38% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Charles Schwab news, insider Dennis Howard sold 2,198 shares of the stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $110.00, for a total transaction of $241,780.00. Following the sale, the insider directly owned 6,980 shares in the company, valued at approximately $767,800. This trade represents a 23.95% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Jonathan Beatty sold 1,000 shares of Charles Schwab stock in a transaction on Monday, August 17th. The stock was sold at an average price of $111.33, for a total value of $111,330.00. Following the completion of the sale, the insider directly owned 10,738 shares of the company’s stock, valued at approximately $1,195,461.54. The trade was a 8.52% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 278,574 shares of company stock valued at $31,302,606. 6.30% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of analysts have recently weighed in on SCHW shares. Evercore set a $98.00 target price on shares of Charles Schwab in a research report on Wednesday, October 28th. Keefe, Bruyette & Woods reissued an “outperform” rating and set a $111.00 price target (up from $109.00) on shares of Charles Schwab in a research report on Friday, October 16th. Rothschild & Co Redburn boosted their price objective on shares of Charles Schwab from $114.00 to $120.00 and gave the stock a “neutral” rating in a research note on Monday, September 21st. Argus upped their price objective on shares of Charles Schwab from $108.00 to $114.00 and gave the stock a “buy” rating in a report on Thursday, July 23rd. Finally, Citizens Jmp reaffirmed a “market outperform” rating and set a $120.00 target price on shares of Charles Schwab in a research note on Friday, October 16th. Eighteen investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $119.91.

Charles Schwab Stock Down 1.1%

Shares of NYSE SCHW traded down $1.02 during midday trading on Friday, hitting $91.56. The stock had a trading volume of 7,577,884 shares, compared to its average volume of 8,741,089. The business’s 50 day moving average is $98.51 and its 200-day moving average is $97.39. The company has a market cap of $158.33 billion, a P/E ratio of 15.62, a PEG ratio of 0.79 and a beta of 0.77. The Charles Schwab Corporation has a 52 week low of $83.96 and a 52 week high of $114.53. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 0.52.

Charles Schwab (NYSE:SCHW) last announced its quarterly earnings results on Thursday, October 15th. The financial services provider reported $1.69 earnings per share for the quarter, beating the consensus estimate of $1.66 by $0.03. The company had revenue of $7.17 billion during the quarter, compared to the consensus estimate of $7.18 billion. Charles Schwab had a net margin of 39.33% and a return on equity of 25.79%. The firm’s quarterly revenue was up 16.9% compared to the same quarter last year. During the same quarter last year, the firm earned $1.31 earnings per share. As a group, analysts predict that The Charles Schwab Corporation will post 6.41 EPS for the current year.

Charles Schwab Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 27th. Investors of record on Friday, November 13th will be given a $0.32 dividend. The ex-dividend date of this dividend is Friday, November 13th. This represents a $1.28 annualized dividend and a yield of 1.4%. Charles Schwab’s dividend payout ratio is 21.84%.

About Charles Schwab

The Charles Schwab Corporation is a financial services company that provides brokerage, banking, wealth management, and investment services. Its offerings include brokerage accounts, trading and research tools, retirement products, banking services, and investment advice for individuals, as well as services for independent financial advisors, employers, and institutions.

Founded in 1971 by Charles R. Schwab, the company helped popularize discount brokerage services. It expanded its brokerage business with the 2020 acquisition of TD Ameritrade, whose trading platform and services became part of Schwab.

Based in Westlake, Texas, Schwab primarily serves clients in the United States and also has an international presence.