First Interstate Bank Buys 1,490 Shares of The Charles Schwab Co. (NYSE:SCHW)

First Interstate Bank grew its stake in shares of The Charles Schwab Co. (NYSE:SCHW) by 2.5% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 62,051 shares of the financial services provider’s stock after buying an additional 1,490 shares during the period. First Interstate Bank’s holdings in Charles Schwab were worth $4,022,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Nelson Capital Management LLC lifted its holdings in shares of Charles Schwab by 0.4% in the 1st quarter. Nelson Capital Management LLC now owns 37,726 shares of the financial services provider’s stock worth $2,729,000 after acquiring an additional 141 shares during the last quarter. Abbrea Capital LLC grew its stake in shares of Charles Schwab by 2.5% during the first quarter. Abbrea Capital LLC now owns 5,777 shares of the financial services provider’s stock valued at $418,000 after buying an additional 142 shares during the last quarter. Alliance Wealth Advisors LLC increased its holdings in shares of Charles Schwab by 2.7% in the third quarter. Alliance Wealth Advisors LLC now owns 5,358 shares of the financial services provider’s stock worth $347,000 after buying an additional 142 shares during the period. Arcataur Capital Management LLC lifted its stake in shares of Charles Schwab by 2.3% in the 3rd quarter. Arcataur Capital Management LLC now owns 6,648 shares of the financial services provider’s stock valued at $431,000 after acquiring an additional 150 shares during the last quarter. Finally, Tandem Capital Management Corp ADV grew its position in Charles Schwab by 0.3% during the 3rd quarter. Tandem Capital Management Corp ADV now owns 49,537 shares of the financial services provider’s stock worth $3,210,000 after acquiring an additional 150 shares during the last quarter. 84.38% of the stock is owned by institutional investors.

Charles Schwab Stock Up 0.2 %

Shares of SCHW traded up $0.11 during mid-day trading on Friday, reaching $70.94. The company had a trading volume of 6,266,153 shares, compared to its average volume of 8,068,163. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.42 and a current ratio of 0.42. The company has a market capitalization of $126.16 billion, a price-to-earnings ratio of 27.71, a price-to-earnings-growth ratio of 1.62 and a beta of 0.96. The firm has a 50-day moving average price of $66.39 and a 200 day moving average price of $69.53. The Charles Schwab Co. has a 52 week low of $53.49 and a 52 week high of $79.49.

Charles Schwab (NYSE:SCHW) last released its earnings results on Tuesday, October 15th. The financial services provider reported $0.77 EPS for the quarter, topping the consensus estimate of $0.75 by $0.02. The business had revenue of $4.85 billion for the quarter, compared to the consensus estimate of $4.78 billion. Charles Schwab had a return on equity of 17.52% and a net margin of 27.47%. The company’s revenue for the quarter was up 5.2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.77 earnings per share. On average, sell-side analysts forecast that The Charles Schwab Co. will post 3.11 EPS for the current year.

Charles Schwab Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Friday, November 8th will be issued a $0.25 dividend. The ex-dividend date is Friday, November 8th. This represents a $1.00 annualized dividend and a yield of 1.41%. Charles Schwab’s dividend payout ratio (DPR) is presently 39.06%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. JMP Securities increased their price objective on Charles Schwab from $82.00 to $84.00 and gave the company a “market outperform” rating in a research note on Wednesday, October 16th. Morgan Stanley raised their price target on shares of Charles Schwab from $68.00 to $74.00 and gave the stock an “equal weight” rating in a report on Thursday, October 24th. Piper Sandler increased their target price on shares of Charles Schwab from $64.00 to $65.00 and gave the stock a “neutral” rating in a report on Wednesday, October 16th. TD Cowen restated a “hold” rating and set a $71.00 price target (down previously from $88.00) on shares of Charles Schwab in a report on Wednesday, July 17th. Finally, The Goldman Sachs Group increased their price objective on Charles Schwab from $67.00 to $74.00 and gave the stock a “neutral” rating in a report on Wednesday, October 16th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Charles Schwab currently has an average rating of “Hold” and an average target price of $73.94.

Insider Activity

In other Charles Schwab news, Chairman Charles R. Schwab sold 62,345 shares of the stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $72.52, for a total transaction of $4,521,259.40. Following the sale, the chairman now directly owns 60,619,371 shares in the company, valued at approximately $4,396,116,784.92. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, Chairman Charles R. Schwab sold 62,345 shares of the firm’s stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $72.52, for a total transaction of $4,521,259.40. Following the sale, the chairman now owns 60,619,371 shares of the company’s stock, valued at $4,396,116,784.92. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Carolyn Schwab-Pomerantz sold 29,800 shares of Charles Schwab stock in a transaction that occurred on Thursday, October 17th. The stock was sold at an average price of $72.16, for a total transaction of $2,150,368.00. Following the completion of the sale, the director now owns 551,329 shares of the company’s stock, valued at $39,783,900.64. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 113,465 shares of company stock worth $8,050,109 over the last 90 days. 6.60% of the stock is currently owned by insiders.

Charles Schwab Profile

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.