Fifth Third Bancorp Trims Stake in The Charles Schwab Co. (NYSE:SCHW)

Fifth Third Bancorp lessened its holdings in The Charles Schwab Co. (NYSE:SCHW) by 12.7% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 144,958 shares of the financial services provider’s stock after selling 20,993 shares during the period. Fifth Third Bancorp’s holdings in Charles Schwab were worth $10,728,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in SCHW. Dark Forest Capital Management LP bought a new stake in shares of Charles Schwab during the 2nd quarter worth $303,000. The Manufacturers Life Insurance Company lifted its stake in Charles Schwab by 3.3% during the second quarter. The Manufacturers Life Insurance Company now owns 2,136,345 shares of the financial services provider’s stock worth $157,427,000 after purchasing an additional 68,596 shares during the last quarter. Mackenzie Financial Corp boosted its holdings in shares of Charles Schwab by 3.2% in the 2nd quarter. Mackenzie Financial Corp now owns 482,349 shares of the financial services provider’s stock worth $35,544,000 after purchasing an additional 15,166 shares in the last quarter. Kathmere Capital Management LLC bought a new position in shares of Charles Schwab during the 2nd quarter valued at about $209,000. Finally, Driehaus Capital Management LLC raised its holdings in shares of Charles Schwab by 25.2% during the 2nd quarter. Driehaus Capital Management LLC now owns 8,638 shares of the financial services provider’s stock valued at $637,000 after buying an additional 1,737 shares in the last quarter. 84.38% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

SCHW has been the subject of several research reports. Bank of America cut their target price on Charles Schwab from $63.00 to $61.00 and set an “underperform” rating for the company in a research note on Wednesday, October 16th. Raymond James reduced their target price on shares of Charles Schwab from $76.00 to $73.00 in a report on Tuesday, October 15th. Morgan Stanley boosted their price target on shares of Charles Schwab from $74.00 to $84.00 and gave the stock an “equal weight” rating in a research note on Friday, January 17th. Redburn Partners reduced their price objective on Charles Schwab from $70.00 to $68.00 and set a “sell” rating on the stock in a research note on Friday, January 17th. Finally, Barclays increased their target price on Charles Schwab from $95.00 to $96.00 and gave the company an “overweight” rating in a report on Wednesday. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, Charles Schwab currently has a consensus rating of “Hold” and an average target price of $83.83.

Insiders Place Their Bets

In other Charles Schwab news, insider Jonathan S. Beatty sold 2,500 shares of Charles Schwab stock in a transaction on Monday, November 11th. The stock was sold at an average price of $77.02, for a total transaction of $192,550.00. Following the completion of the transaction, the insider now owns 18,069 shares in the company, valued at approximately $1,391,674.38. The trade was a 12.15 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, General Counsel Peter J. Morgan III sold 14,643 shares of the firm’s stock in a transaction on Wednesday, January 22nd. The shares were sold at an average price of $80.70, for a total value of $1,181,690.10. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 41,466 shares of company stock worth $3,352,884. 6.60% of the stock is owned by corporate insiders.

Charles Schwab Trading Down 0.5 %

Shares of SCHW opened at $81.67 on Friday. The Charles Schwab Co. has a 1-year low of $61.01 and a 1-year high of $83.35. The firm has a market capitalization of $145.34 billion, a price-to-earnings ratio of 27.31, a PEG ratio of 1.46 and a beta of 0.99. The firm’s 50-day moving average price is $77.81 and its 200-day moving average price is $70.88. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 0.59.

Charles Schwab (NYSE:SCHW) last posted its earnings results on Tuesday, January 21st. The financial services provider reported $1.01 earnings per share for the quarter, topping analysts’ consensus estimates of $0.90 by $0.11. The firm had revenue of $5.33 billion for the quarter, compared to the consensus estimate of $5,190,822.51 billion. Charles Schwab had a return on equity of 18.20% and a net margin of 30.31%. The business’s revenue for the quarter was up 19.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.68 EPS. Sell-side analysts anticipate that The Charles Schwab Co. will post 4.09 EPS for the current year.

About Charles Schwab

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.