Florida Trust Wealth Management Co Buys 14,963 Shares of The Charles Schwab Corporation $SCHW

Florida Trust Wealth Management Co lifted its stake in The Charles Schwab Corporation (NYSE:SCHW) by 136.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 25,911 shares of the financial services provider’s stock after buying an additional 14,963 shares during the period. Florida Trust Wealth Management Co’s holdings in Charles Schwab were worth $2,474,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the stock. Federated Hermes Inc. boosted its position in Charles Schwab by 2,112.7% in the 2nd quarter. Federated Hermes Inc. now owns 181,793 shares of the financial services provider’s stock valued at $16,587,000 after buying an additional 173,577 shares during the last quarter. Vanguard Personalized Indexing Management LLC lifted its stake in shares of Charles Schwab by 26.8% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 190,538 shares of the financial services provider’s stock valued at $17,387,000 after acquiring an additional 40,275 shares during the period. Figure 8 Investment Strategies LLC bought a new position in Charles Schwab in the second quarter valued at about $924,000. PFG Investments LLC increased its position in Charles Schwab by 10.2% in the second quarter. PFG Investments LLC now owns 5,951 shares of the financial services provider’s stock worth $543,000 after purchasing an additional 550 shares during the period. Finally, W.H. Cornerstone Investments Inc. bought a new stake in Charles Schwab during the 2nd quarter worth about $246,000. Institutional investors and hedge funds own 84.38% of the company’s stock.

Insiders Place Their Bets

In other Charles Schwab news, insider Jonathan S. Beatty sold 3,072 shares of the stock in a transaction dated Wednesday, November 12th. The stock was sold at an average price of $98.00, for a total transaction of $301,056.00. Following the completion of the transaction, the insider owned 11,923 shares in the company, valued at approximately $1,168,454. This represents a 20.49% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 6.30% of the company’s stock.

Analyst Ratings Changes

SCHW has been the topic of several recent research reports. JPMorgan Chase & Co. raised their target price on shares of Charles Schwab from $119.00 to $121.00 and gave the company an “overweight” rating in a research note on Monday, October 20th. UBS Group upped their target price on shares of Charles Schwab from $119.00 to $123.00 and gave the company a “buy” rating in a research report on Wednesday, January 7th. Piper Sandler raised their price target on Charles Schwab from $100.00 to $105.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 14th. JMP Securities reissued a “market outperform” rating and issued a $110.00 target price on shares of Charles Schwab in a research note on Friday, October 17th. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on Charles Schwab from $119.00 to $120.00 and gave the stock a “buy” rating in a research report on Friday, October 17th. One research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $114.45.

Charles Schwab Stock Performance

Shares of SCHW stock opened at $103.83 on Tuesday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.58 and a current ratio of 0.58. The Charles Schwab Corporation has a 52 week low of $65.88 and a 52 week high of $104.98. The company’s 50 day moving average price is $97.32 and its two-hundred day moving average price is $95.64. The company has a market capitalization of $184.50 billion, a P/E ratio of 24.32, a price-to-earnings-growth ratio of 0.71 and a beta of 0.94.

Charles Schwab Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 28th. Investors of record on Friday, November 14th were paid a $0.27 dividend. The ex-dividend date of this dividend was Friday, November 14th. This represents a $1.08 dividend on an annualized basis and a yield of 1.0%. Charles Schwab’s dividend payout ratio is presently 25.29%.

About Charles Schwab

Charles Schwab Corporation (NYSE: SCHW) is a diversified financial services firm that provides brokerage, banking, wealth management and advisory services to individual investors, independent investment advisors and institutional clients. Its primary offerings include retail brokerage accounts, online trading platforms, Schwab-branded mutual funds and exchange-traded funds (ETFs), retirement plan services, custodial services for independent Registered Investment Advisors (RIAs), and banking products through Charles Schwab Bank.