The Charles Schwab Co. (NYSE:SCHW) Position Raised by Palisade Asset Management LLC

Palisade Asset Management LLC raised its position in shares of The Charles Schwab Co. (NYSE:SCHW) by 2.2% in the third quarter, HoldingsChannel.com reports. The firm owned 26,735 shares of the financial services provider’s stock after buying an additional 565 shares during the period. Palisade Asset Management LLC’s holdings in Charles Schwab were worth $1,733,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in SCHW. Natixis acquired a new stake in Charles Schwab during the first quarter valued at approximately $523,000. Gabelli Funds LLC lifted its position in shares of Charles Schwab by 5.8% during the 1st quarter. Gabelli Funds LLC now owns 52,350 shares of the financial services provider’s stock valued at $3,787,000 after acquiring an additional 2,850 shares during the last quarter. LRI Investments LLC bought a new stake in shares of Charles Schwab during the 1st quarter worth $154,000. Steel Grove Capital Advisors LLC raised its position in shares of Charles Schwab by 20.3% during the first quarter. Steel Grove Capital Advisors LLC now owns 7,100 shares of the financial services provider’s stock worth $514,000 after purchasing an additional 1,200 shares during the period. Finally, BOKF NA lifted its holdings in shares of Charles Schwab by 33.9% during the first quarter. BOKF NA now owns 20,069 shares of the financial services provider’s stock valued at $1,452,000 after purchasing an additional 5,078 shares during the last quarter. 84.38% of the stock is owned by institutional investors.

Charles Schwab Trading Up 0.6 %

Shares of NYSE SCHW opened at $81.25 on Friday. The business has a 50 day simple moving average of $70.55 and a 200 day simple moving average of $69.85. The Charles Schwab Co. has a 52 week low of $55.59 and a 52 week high of $82.50. The stock has a market cap of $144.60 billion, a price-to-earnings ratio of 31.74, a PEG ratio of 1.75 and a beta of 0.96. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.47 and a current ratio of 0.47.

Charles Schwab (NYSE:SCHW) last posted 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 firm had revenue of $4.85 billion for the quarter, compared to the consensus estimate of $4.78 billion. Charles Schwab had a net margin of 27.47% and a return on equity of 16.92%. The business’s quarterly revenue was up 5.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.77 earnings per share. On average, research analysts predict that The Charles Schwab Co. will post 3.12 earnings per share for the current fiscal year.

Charles Schwab Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Friday, November 8th were issued a $0.25 dividend. The ex-dividend date was Friday, November 8th. This represents a $1.00 annualized dividend and a yield of 1.23%. Charles Schwab’s dividend payout ratio (DPR) is presently 39.06%.

Insiders Place Their Bets

In other Charles Schwab news, Director Christopher V. Dodds sold 9,284 shares of Charles Schwab stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $81.43, for a total value of $755,996.12. Following the transaction, the director now directly owns 442,807 shares of the company’s stock, valued at $36,057,774.01. The trade was a 2.05 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Jonathan S. Beatty sold 2,500 shares of the stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $77.02, for a total value of $192,550.00. Following the completion of the sale, the insider now directly owns 18,069 shares of the company’s stock, valued at $1,391,674.38. This represents a 12.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 112,929 shares of company stock valued at $8,196,624 in the last quarter. Insiders own 6.60% of the company’s stock.

Analyst Upgrades and Downgrades

SCHW has been the topic of several recent analyst reports. Bank of America cut their price objective on Charles Schwab from $63.00 to $61.00 and set an “underperform” rating on the stock in a report on Wednesday, October 16th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Charles Schwab from $77.00 to $80.00 and gave the company a “buy” rating in a report on Monday, November 11th. JMP Securities raised their price objective on shares of Charles Schwab from $82.00 to $84.00 and gave the stock a “market outperform” rating in a research note on Wednesday, October 16th. Keefe, Bruyette & Woods boosted their target price on shares of Charles Schwab from $76.00 to $81.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. Finally, Wells Fargo & Company raised their target price on Charles Schwab from $70.00 to $75.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 16th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $74.18.

Charles Schwab Company 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.