Fifth Third Bancorp Sells 7,055 Shares of The Charles Schwab Corporation $SCHW

Fifth Third Bancorp decreased its position in The Charles Schwab Corporation (NYSE:SCHW) by 4.5% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 150,996 shares of the financial services provider’s stock after selling 7,055 shares during the quarter. Fifth Third Bancorp’s holdings in Charles Schwab were worth $14,416,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Norges Bank bought a new stake in Charles Schwab in the second quarter worth $1,889,858,000. Brown Advisory Inc. increased its holdings in shares of Charles Schwab by 88.4% in the 2nd quarter. Brown Advisory Inc. now owns 12,162,260 shares of the financial services provider’s stock worth $1,109,687,000 after buying an additional 5,708,208 shares during the last quarter. Primecap Management Co. CA increased its holdings in shares of Charles Schwab by 35.9% in the 2nd quarter. Primecap Management Co. CA now owns 19,034,806 shares of the financial services provider’s stock worth $1,736,736,000 after buying an additional 5,032,728 shares during the last quarter. Bank of New York Mellon Corp raised its position in shares of Charles Schwab by 28.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 14,182,132 shares of the financial services provider’s stock valued at $1,293,978,000 after buying an additional 3,125,179 shares in the last quarter. Finally, Vanguard Group Inc. lifted its holdings in shares of Charles Schwab by 1.9% in the 2nd quarter. Vanguard Group Inc. now owns 151,182,081 shares of the financial services provider’s stock valued at $13,793,853,000 after acquiring an additional 2,786,829 shares during the last quarter. 84.38% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

SCHW has been the topic of a number of recent research reports. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $131.00 price objective on shares of Charles Schwab in a research report on Thursday, January 22nd. TD Cowen increased their price target on Charles Schwab from $135.00 to $138.00 and gave the company a “buy” rating in a report on Thursday, January 22nd. Weiss Ratings restated a “hold (c+)” rating on shares of Charles Schwab in a research report on Thursday, January 22nd. Raymond James Financial reiterated an “outperform” rating and set a $114.00 price objective on shares of Charles Schwab in a research report on Monday, January 5th. Finally, Truist Financial raised their target price on shares of Charles Schwab from $120.00 to $122.00 and gave the stock a “buy” rating in a report on Thursday, January 22nd. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $115.65.

Insider Transactions at Charles Schwab

In other news, Chairman Walter W. Bettinger sold 162,462 shares of the firm’s stock in a transaction on Tuesday, February 3rd. The stock was sold at an average price of $103.90, for a total transaction of $16,879,801.80. Following the transaction, the chairman owned 529,346 shares in the company, valued at approximately $54,999,049.40. This trade represents a 23.48% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Jonathan S. Beatty sold 2,000 shares of the company’s stock in a transaction dated Thursday, January 22nd. The stock was sold at an average price of $105.00, for a total transaction of $210,000.00. Following the completion of the sale, the insider directly owned 21,768 shares of the company’s stock, valued at approximately $2,285,640. This trade represents a 8.41% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 348,344 shares of company stock worth $36,259,555 over the last quarter. 6.30% of the stock is owned by corporate insiders.

Charles Schwab Price Performance

Charles Schwab stock opened at $93.69 on Tuesday. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.58 and a quick ratio of 0.58. The stock has a market cap of $166.47 billion, a price-to-earnings ratio of 20.10, a price-to-earnings-growth ratio of 0.76 and a beta of 0.94. The firm has a 50-day moving average of $100.71 and a two-hundred day moving average of $96.63. The Charles Schwab Corporation has a 1 year low of $65.88 and a 1 year high of $107.50.

Charles Schwab (NYSE:SCHW) last posted its quarterly earnings results on Wednesday, January 21st. The financial services provider reported $1.39 earnings per share for the quarter, beating the consensus estimate of $1.32 by $0.07. The firm had revenue of $6.34 billion during the quarter, compared to the consensus estimate of $6.19 billion. Charles Schwab had a net margin of 37.01% and a return on equity of 22.07%. The company’s revenue was up 18.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.01 earnings per share. Charles Schwab has set its FY 2026 guidance at 5.700-5.800 EPS. On average, research analysts forecast that The Charles Schwab Corporation will post 4.22 earnings per share for the current year.

Charles Schwab Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 27th. Shareholders of record on Friday, February 13th will be issued a $0.32 dividend. The ex-dividend date is Friday, February 13th. This represents a $1.28 annualized dividend and a dividend yield of 1.4%. This is a positive change from Charles Schwab’s previous quarterly dividend of $0.27. Charles Schwab’s dividend payout ratio (DPR) is currently 27.47%.

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.