Howard Bailey Securities LLC Cuts Stake in The Charles Schwab Co. (NYSE:SCHW)

Howard Bailey Securities LLC lessened its stake in shares of The Charles Schwab Co. (NYSE:SCHW) by 4.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 8,454 shares of the financial services provider’s stock after selling 421 shares during the quarter. Howard Bailey Securities LLC’s holdings in Charles Schwab were worth $626,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Merit Financial Group LLC boosted its holdings in Charles Schwab by 230.1% in the 4th quarter. Merit Financial Group LLC now owns 33,546 shares of the financial services provider’s stock worth $2,483,000 after acquiring an additional 23,383 shares during the period. Benjamin Edwards Inc. lifted its position in shares of Charles Schwab by 2,840.7% during the third quarter. Benjamin Edwards Inc. now owns 6,146 shares of the financial services provider’s stock worth $398,000 after purchasing an additional 5,937 shares in the last quarter. Synovus Financial Corp boosted its stake in shares of Charles Schwab by 46.0% in the third quarter. Synovus Financial Corp now owns 67,889 shares of the financial services provider’s stock valued at $4,400,000 after purchasing an additional 21,377 shares during the period. Oregon Pacific Wealth Management LLC acquired a new stake in Charles Schwab during the 4th quarter valued at $688,000. Finally, Golden State Equity Partners increased its stake in Charles Schwab by 293.9% during the 4th quarter. Golden State Equity Partners now owns 12,207 shares of the financial services provider’s stock worth $903,000 after buying an additional 9,108 shares during the period. Hedge funds and other institutional investors own 84.38% of the company’s stock.

Insiders Place Their Bets

In related news, Director Arun Sarin sold 8,548 shares of the firm’s stock in a transaction that occurred on Thursday, January 23rd. The shares were sold at an average price of $81.82, for a total value of $699,397.36. Following the completion of the transaction, the director now owns 18,617 shares of the company’s stock, valued at approximately $1,523,242.94. This trade represents a 31.47 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Christopher V. Dodds sold 9,284 shares of the firm’s stock in a transaction 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 completion of the sale, the director now directly owns 442,807 shares of the company’s stock, valued at approximately $36,057,774.01. This trade represents a 2.05 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 47,514 shares of company stock worth $3,859,731. 6.60% of the stock is owned by insiders.

Charles Schwab Trading Down 1.0 %

NYSE:SCHW opened at $82.37 on Thursday. The stock has a market cap of $146.59 billion, a price-to-earnings ratio of 27.55, a PEG ratio of 1.02 and a beta of 0.99. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.47 and a current ratio of 0.47. The Charles Schwab Co. has a 1 year low of $61.01 and a 1 year high of $84.50. The business has a fifty day moving average of $78.04 and a 200-day moving average of $72.11.

Charles Schwab (NYSE:SCHW) last issued its quarterly 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. Charles Schwab had a net margin of 30.31% and a return on equity of 18.20%. The company had revenue of $5.33 billion during the quarter, compared to analyst estimates of $5.19 billion. During the same period in the prior year, the business posted $0.68 EPS. The business’s revenue for the quarter was up 19.5% compared to the same quarter last year. Equities analysts predict that The Charles Schwab Co. will post 4.18 earnings per share for the current year.

Charles Schwab Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, February 14th will be given a dividend of $0.27 per share. This is a positive change from Charles Schwab’s previous quarterly dividend of $0.25. The ex-dividend date is Friday, February 14th. This represents a $1.08 annualized dividend and a dividend yield of 1.31%. Charles Schwab’s dividend payout ratio (DPR) is 33.44%.

Analyst Ratings Changes

SCHW has been the subject of a number of analyst reports. Wells Fargo & Company raised shares of Charles Schwab from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $89.00 to $93.00 in a research report on Wednesday, January 22nd. Barclays increased their price target on Charles Schwab from $95.00 to $96.00 and gave the company an “overweight” rating in a report on Wednesday, January 22nd. The Goldman Sachs Group lifted their price objective on Charles Schwab from $67.00 to $74.00 and gave the stock a “neutral” rating in a report on Wednesday, October 16th. StockNews.com raised Charles Schwab from a “sell” rating to a “hold” rating in a research report on Wednesday, October 16th. Finally, Truist Financial raised their price target on shares of Charles Schwab from $90.00 to $91.00 and gave the stock a “buy” rating in a research report on Tuesday. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $84.56.

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.