Independence Bank of Kentucky Decreases Position in The Charles Schwab Co. (NYSE:SCHW)

Independence Bank of Kentucky cut its stake in The Charles Schwab Co. (NYSE:SCHW) by 1.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,565 shares of the financial services provider’s stock after selling 175 shares during the quarter. Independence Bank of Kentucky’s holdings in Charles Schwab were worth $837,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD lifted its stake in Charles Schwab by 33.4% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 69,360,233 shares of the financial services provider’s stock worth $4,771,985,000 after purchasing an additional 17,369,091 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its stake in Charles Schwab by 4.1% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 30,994,967 shares of the financial services provider’s stock worth $2,132,454,000 after purchasing an additional 1,219,015 shares in the last quarter. Fisher Asset Management LLC lifted its stake in Charles Schwab by 1.6% in the 4th quarter. Fisher Asset Management LLC now owns 18,627,667 shares of the financial services provider’s stock worth $1,281,584,000 after purchasing an additional 296,317 shares in the last quarter. Norges Bank purchased a new position in Charles Schwab in the 4th quarter worth approximately $950,192,000. Finally, Putnam Investments LLC increased its holdings in shares of Charles Schwab by 4.8% during the 4th quarter. Putnam Investments LLC now owns 12,237,705 shares of the financial services provider’s stock worth $841,954,000 after buying an additional 560,110 shares during the last quarter. 84.38% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Charles Schwab

In other news, Chairman Charles R. Schwab sold 89,275 shares of Charles Schwab stock in a transaction on Monday, April 22nd. The shares were sold at an average price of $74.62, for a total transaction of $6,661,700.50. Following the completion of the sale, the chairman now directly owns 30,641,981 shares of the company’s stock, valued at approximately $2,286,504,622.22. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, Chairman Charles R. Schwab sold 89,275 shares of the business’s stock in a transaction on Monday, April 22nd. The shares were sold at an average price of $74.62, for a total value of $6,661,700.50. Following the completion of the sale, the chairman now directly owns 30,641,981 shares of the company’s stock, valued at $2,286,504,622.22. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Bernard J. Clark sold 77,431 shares of the business’s stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $70.94, for a total transaction of $5,492,955.14. Following the completion of the sale, the insider now directly owns 121,666 shares of the company’s stock, valued at $8,630,986.04. The disclosure for this sale can be found here. In the last three months, insiders sold 658,663 shares of company stock valued at $48,997,146. Insiders own 6.60% of the company’s stock.

Charles Schwab Stock Up 0.2 %

Shares of NYSE:SCHW traded up $0.13 during trading on Friday, hitting $73.69. The company’s stock had a trading volume of 8,997,560 shares, compared to its average volume of 5,743,318. The business has a 50 day moving average price of $74.42 and a two-hundred day moving average price of $69.78. The company has a market capitalization of $130.97 billion, a PE ratio of 30.83, a P/E/G ratio of 1.14 and a beta of 0.96. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.42 and a current ratio of 0.42. The Charles Schwab Co. has a fifty-two week low of $48.66 and a fifty-two week high of $79.49.

Charles Schwab (NYSE:SCHW) last posted its quarterly earnings results on Monday, April 15th. The financial services provider reported $0.74 EPS for the quarter, topping the consensus estimate of $0.73 by $0.01. The business had revenue of $4.74 billion during the quarter, compared to the consensus estimate of $4.71 billion. Charles Schwab had a net margin of 26.14% and a return on equity of 19.25%. As a group, research analysts expect that The Charles Schwab Co. will post 3.25 EPS for the current fiscal year.

Charles Schwab Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 24th. Stockholders of record on Friday, May 10th were given a dividend of $0.25 per share. The ex-dividend date was Thursday, May 9th. This represents a $1.00 annualized dividend and a dividend yield of 1.36%. Charles Schwab’s dividend payout ratio (DPR) is currently 41.84%.

Wall Street Analyst Weigh In

SCHW has been the subject of a number of recent analyst reports. Barclays raised their price target on shares of Charles Schwab from $74.00 to $75.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 16th. JMP Securities restated a “market outperform” rating and set a $80.00 price target on shares of Charles Schwab in a report on Tuesday, May 28th. Keefe, Bruyette & Woods restated a “market perform” rating and set a $76.00 price target on shares of Charles Schwab in a report on Monday, June 17th. Citigroup raised their price target on shares of Charles Schwab from $70.00 to $75.00 and gave the stock a “neutral” rating in a report on Thursday, April 11th. Finally, Piper Sandler lifted their target price on shares of Charles Schwab from $75.00 to $78.00 and gave the company an “overweight” rating in a report on Friday, April 12th. Three analysts have rated the stock with a sell rating, five have given a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $75.56.

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.