Hanson & Doremus Investment Management lifted its stake in shares of Charles Schwab Co. (NYSE:SCHW) by 0.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 116,191 shares of the financial services provider’s stock after purchasing an additional 1,093 shares during the quarter. Charles Schwab accounts for about 1.6% of Hanson & Doremus Investment Management’s portfolio, making the stock its 8th largest position. Hanson & Doremus Investment Management’s holdings in Charles Schwab were worth $5,526,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors also recently made changes to their positions in the company. Moors & Cabot Inc. boosted its stake in shares of Charles Schwab by 1.6% in the 3rd quarter. Moors & Cabot Inc. now owns 16,103 shares of the financial services provider’s stock valued at $666,000 after purchasing an additional 249 shares during the last quarter. Municipal Employees Retirement System of Michigan boosted its stake in Charles Schwab by 1.5% during the third quarter. Municipal Employees Retirement System of Michigan now owns 16,680 shares of the financial services provider’s stock worth $698,000 after acquiring an additional 250 shares in the last quarter. Davis R M Inc. grew its holdings in Charles Schwab by 4.2% in the third quarter. Davis R M Inc. now owns 6,309 shares of the financial services provider’s stock worth $264,000 after purchasing an additional 255 shares during the period. Winslow Evans & Crocker Inc. increased its stake in Charles Schwab by 78.0% in the fourth quarter. Winslow Evans & Crocker Inc. now owns 584 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 256 shares in the last quarter. Finally, Coe Capital Management LLC increased its stake in Charles Schwab by 0.8% in the third quarter. Coe Capital Management LLC now owns 33,298 shares of the financial services provider’s stock valued at $1,393,000 after purchasing an additional 258 shares in the last quarter. 78.78% of the stock is currently owned by institutional investors.
In other news, Director Arun Sarin sold 15,000 shares of the business’s stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $49.11, for a total value of $736,650.00. Following the completion of the sale, the director now owns 3,771 shares of the company’s stock, valued at approximately $185,193.81. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Bernard J. Clark sold 28,078 shares of the business’s stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $51.00, for a total value of $1,431,978.00. The disclosure for this sale can be found here. Insiders have sold 349,364 shares of company stock worth $17,174,848 over the last quarter. Company insiders own 10.90% of the company’s stock.
A number of research firms have recently issued reports on SCHW. Credit Suisse Group cut their price objective on shares of Charles Schwab from $55.00 to $49.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 1st. UBS Group upgraded shares of Charles Schwab from a “sell” rating to a “neutral” rating and upped their price objective for the stock from $35.00 to $50.00 in a report on Monday, December 2nd. Barclays raised shares of Charles Schwab from an “underweight” rating to an “equal weight” rating and raised their price target for the company from $35.00 to $49.00 in a research report on Wednesday, November 27th. Deutsche Bank lifted their price target on Charles Schwab from $35.00 to $36.00 and gave the company a “hold” rating in a research note on Wednesday, October 23rd. Finally, Wells Fargo & Co reissued a “hold” rating on shares of Charles Schwab in a research note on Tuesday, November 26th. Nine investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $49.25.
Shares of SCHW traded up $1.25 during trading hours on Thursday, reaching $48.37. 4,167,173 shares of the company’s stock traded hands, compared to its average volume of 7,481,588. The stock has a market cap of $61.18 billion, a PE ratio of 19.74, a price-to-earnings-growth ratio of 3.06 and a beta of 1.39. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.40. The firm’s 50 day simple moving average is $48.58 and its 200-day simple moving average is $42.66. Charles Schwab Co. has a 12 month low of $34.58 and a 12 month high of $51.65.
Charles Schwab (NYSE:SCHW) last issued its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $0.70 EPS for the quarter, topping the Zacks’ consensus estimate of $0.65 by $0.05. Charles Schwab had a net margin of 35.12% and a return on equity of 20.81%. The firm had revenue of $2.71 billion for the quarter, compared to analyst estimates of $2.65 billion. During the same quarter in the prior year, the firm earned $0.65 EPS. The business’s revenue for the quarter was up 5.1% compared to the same quarter last year. As a group, analysts expect that Charles Schwab Co. will post 2.73 earnings per share for the current fiscal year.
About Charles Schwab
The Charles Schwab Corporation, through its subsidiaries, provides wealth management, securities brokerage, banking, asset management, custody, and financial advisory services. The company operates through two segments, Investor Services and Advisor Services. The Investor Services segment provides retail brokerage and banking services, retirement plan services, and other corporate brokerage services; equity compensation plan sponsors full-service recordkeeping for stock plans, stock options, restricted stock, performance shares, and stock appreciation rights; and retail investor, retirement plan, and mutual fund clearing services.
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