Morton Community Bank Sells 33,083 Shares of The Charles Schwab Co. (NYSE:SCHW)

Morton Community Bank decreased its position in The Charles Schwab Co. (NYSE:SCHW) by 75.3% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 10,867 shares of the financial services provider’s stock after selling 33,083 shares during the period. Morton Community Bank’s holdings in Charles Schwab were worth $801,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. grew its position in shares of Charles Schwab by 0.9% during the 1st quarter. Vanguard Group Inc. now owns 120,963,133 shares of the financial services provider’s stock worth $8,750,473,000 after buying an additional 1,042,823 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in Charles Schwab by 4.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 72,306,560 shares of the financial services provider’s stock worth $5,230,657,000 after purchasing an additional 2,946,327 shares during the period. Massachusetts Financial Services Co. MA increased its stake in Charles Schwab by 4.1% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 30,994,967 shares of the financial services provider’s stock valued at $2,132,454,000 after purchasing an additional 1,219,015 shares in the last quarter. Fisher Asset Management LLC raised its holdings in shares of Charles Schwab by 1.6% during the fourth quarter. Fisher Asset Management LLC now owns 18,623,505 shares of the financial services provider’s stock valued at $1,281,297,000 after purchasing an additional 292,155 shares during the period. Finally, Norges Bank bought a new position in shares of Charles Schwab during the 4th quarter worth about $950,192,000. Institutional investors own 84.38% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. JMP Securities reduced their price objective on Charles Schwab from $85.00 to $82.00 and set a “market outperform” rating for the company in a research note on Tuesday, July 23rd. Keefe, Bruyette & Woods restated an “outperform” rating and set a $80.00 price target on shares of Charles Schwab in a research note on Thursday, August 22nd. StockNews.com lowered shares of Charles Schwab from a “hold” rating to a “sell” rating in a research note on Friday, May 24th. Bank of America decreased their target price on shares of Charles Schwab from $72.00 to $66.00 and set an “underperform” rating for the company in a research report on Wednesday, July 17th. Finally, Deutsche Bank Aktiengesellschaft raised their price target on shares of Charles Schwab from $79.00 to $80.00 and gave the company a “buy” rating in a research report on Thursday, August 15th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $74.00.

Charles Schwab Stock Performance

Shares of SCHW traded down $0.79 on Friday, reaching $62.90. 8,331,675 shares of the company’s stock traded hands, compared to its average volume of 7,662,919. The stock’s 50 day simple moving average is $66.44 and its two-hundred day simple moving average is $70.10. The stock has a market cap of $111.79 billion, a PE ratio of 26.32, a PEG ratio of 1.20 and a beta of 0.97. The Charles Schwab Co. has a 52-week low of $48.66 and a 52-week high of $79.49. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 0.65.

Charles Schwab (NYSE:SCHW) last issued its quarterly earnings results on Tuesday, July 16th. The financial services provider reported $0.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.72 by $0.01. The company had revenue of $4.69 billion during the quarter, compared to analyst estimates of $4.68 billion. Charles Schwab had a net margin of 26.30% and a return on equity of 18.14%. Charles Schwab’s quarterly revenue was up .7% compared to the same quarter last year. During the same quarter last year, the business posted $0.75 EPS. On average, analysts forecast that The Charles Schwab Co. will post 3.05 earnings per share for the current fiscal year.

Charles Schwab Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Friday, August 9th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, August 9th. This represents a $1.00 dividend on an annualized basis and a yield of 1.59%. Charles Schwab’s dividend payout ratio is presently 41.84%.

Insider Transactions at Charles Schwab

In other Charles Schwab news, insider Bernard J. Clark sold 8,164 shares of Charles Schwab stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $75.00, for a total transaction of $612,300.00. Following the completion of the transaction, the insider now owns 121,666 shares of the company’s stock, valued at approximately $9,124,950. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Charles Schwab news, insider Jonathan S. Beatty sold 780 shares of the firm’s stock in a transaction dated Thursday, July 11th. The stock was sold at an average price of $75.00, for a total value of $58,500.00. Following the sale, the insider now owns 18,069 shares of the company’s stock, valued at approximately $1,355,175. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Bernard J. Clark sold 8,164 shares of the company’s stock in a transaction that occurred on Wednesday, June 12th. The stock was sold at an average price of $75.00, for a total transaction of $612,300.00. Following the completion of the transaction, the insider now owns 121,666 shares in the company, valued at $9,124,950. The disclosure for this sale can be found here. Insiders sold 107,800 shares of company stock worth $7,145,364 over the last quarter. Corporate insiders own 6.60% of the company’s stock.

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.