First National Bank of Omaha acquired a new position in shares of The Charles Schwab Corporation (NYSE:SCHW – Free Report) in the third quarter, HoldingsChannel.com reports. The institutional investor acquired 5,541 shares of the financial services provider’s stock, valued at approximately $529,000.
Other institutional investors have also recently bought and sold shares of the company. ZWJ Investment Counsel Inc. lifted its position in Charles Schwab by 4.6% during the third quarter. ZWJ Investment Counsel Inc. now owns 2,390 shares of the financial services provider’s stock worth $228,000 after acquiring an additional 106 shares during the last quarter. Bryn Mawr Trust Advisors LLC grew its holdings in Charles Schwab by 2.0% in the 2nd quarter. Bryn Mawr Trust Advisors LLC now owns 5,489 shares of the financial services provider’s stock valued at $501,000 after buying an additional 107 shares in the last quarter. Nicolet Bankshares Inc. grew its stake in shares of Charles Schwab by 0.8% in the second quarter. Nicolet Bankshares Inc. now owns 13,049 shares of the financial services provider’s stock valued at $1,191,000 after acquiring an additional 107 shares in the last quarter. First PREMIER Bank raised its stake in Charles Schwab by 23.8% in the 3rd quarter. First PREMIER Bank now owns 557 shares of the financial services provider’s stock worth $53,000 after purchasing an additional 107 shares in the last quarter. Finally, Harfst & Associates Inc. grew its position in shares of Charles Schwab by 0.3% during the 3rd quarter. Harfst & Associates Inc. now owns 33,724 shares of the financial services provider’s stock worth $3,220,000 after purchasing an additional 107 shares in the last quarter. Institutional investors own 84.38% of the company’s stock.
Charles Schwab Stock Down 1.6%
NYSE:SCHW opened at $93.85 on Friday. 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 Charles Schwab Corporation has a one year low of $65.88 and a one year high of $107.50. The firm’s 50 day simple moving average is $100.62 and its 200 day simple moving average is $96.58. The company has a market cap of $166.77 billion, a PE ratio of 20.14, a P/E/G ratio of 0.77 and a beta of 0.94.
Charles Schwab Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 27th. Stockholders of record on Friday, February 13th will be paid a $0.32 dividend. The ex-dividend date of this dividend is Friday, February 13th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.4%. This is an increase from Charles Schwab’s previous quarterly dividend of $0.27. Charles Schwab’s payout ratio is currently 27.47%.
Insider Activity
In other news, insider Jonathan S. Beatty sold 2,000 shares of Charles Schwab stock in a transaction on Thursday, January 22nd. The shares were sold at an average price of $105.00, for a total value of $210,000.00. Following the completion of the sale, the insider owned 21,768 shares in the company, valued at $2,285,640. The trade was a 8.41% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Chairman Walter W. Bettinger sold 162,462 shares of the company’s stock in a transaction dated Tuesday, February 3rd. The shares were 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 $54,999,049.40. This represents a 23.48% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 348,344 shares of company stock worth $36,259,555 over the last ninety days. Corporate insiders own 6.30% of the company’s stock.
Analysts Set New Price Targets
Several brokerages have weighed in on SCHW. Raymond James Financial reaffirmed an “outperform” rating and issued a $114.00 price objective on shares of Charles Schwab in a report on Monday, January 5th. Citigroup reissued a “market outperform” rating on shares of Charles Schwab in a research note on Monday, January 12th. Piper Sandler upped their target price on Charles Schwab from $100.00 to $105.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 14th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Charles Schwab in a research note on Thursday, January 22nd. Finally, Barclays upped their price objective on Charles Schwab from $125.00 to $126.00 and gave the stock an “overweight” rating in a research report on Monday, January 26th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Charles Schwab currently has an average rating of “Moderate Buy” and a consensus price target of $115.95.
View Our Latest Stock Analysis on Charles Schwab
Charles Schwab Profile
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.
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