Essex Savings Bank Sells 146 Shares of The Charles Schwab Corporation (NYSE:SCHW)

Essex Savings Bank lowered its holdings in The Charles Schwab Corporation (NYSE:SCHW) by 0.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 21,718 shares of the financial services provider’s stock after selling 146 shares during the period. Essex Savings Bank’s holdings in Charles Schwab were worth $1,700,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the stock. Atwood & Palmer Inc. purchased a new stake in shares of Charles Schwab during the first quarter worth $25,000. WFA Asset Management Corp purchased a new position in Charles Schwab during the first quarter worth about $33,000. Murphy & Mullick Capital Management Corp purchased a new stake in Charles Schwab in the fourth quarter valued at approximately $38,000. Atala Financial Inc bought a new position in Charles Schwab in the fourth quarter valued at $41,000. Finally, Investors Research Corp raised its holdings in shares of Charles Schwab by 75.2% during the 1st quarter. Investors Research Corp now owns 559 shares of the financial services provider’s stock valued at $44,000 after buying an additional 240 shares in the last quarter. Hedge funds and other institutional investors own 84.38% of the company’s stock.

Charles Schwab Stock Performance

Shares of NYSE SCHW opened at $88.95 on Wednesday. The Charles Schwab Corporation has a 52-week low of $61.01 and a 52-week high of $89.85. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.53 and a current ratio of 0.53. The firm’s fifty day moving average is $83.96 and its two-hundred day moving average is $79.94. The company has a market cap of $161.61 billion, a P/E ratio of 26.95, a P/E/G ratio of 0.95 and a beta of 0.94.

Charles Schwab (NYSE:SCHW) last posted its earnings results on Thursday, April 17th. The financial services provider reported $1.04 earnings per share for the quarter, topping analysts’ consensus estimates of $1.01 by $0.03. Charles Schwab had a net margin of 31.71% and a return on equity of 18.31%. The firm had revenue of $5.60 billion for the quarter, compared to the consensus estimate of $5.46 billion. During the same period in the previous year, the firm posted $0.74 EPS. As a group, analysts anticipate that The Charles Schwab Corporation will post 4.22 EPS for the current fiscal year.

Charles Schwab Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 23rd. Shareholders of record on Friday, May 9th were paid a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 1.21%. The ex-dividend date of this dividend was Friday, May 9th. Charles Schwab’s payout ratio is currently 32.73%.

Analyst Ratings Changes

A number of research firms have recently weighed in on SCHW. Keefe, Bruyette & Woods increased their price objective on Charles Schwab from $90.00 to $93.00 and gave the company an “outperform” rating in a research note on Tuesday, April 22nd. Barclays lowered their price objective on Charles Schwab from $96.00 to $84.00 and set an “overweight” rating for the company in a research report on Monday, April 7th. Citigroup raised Charles Schwab from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $85.00 to $102.00 in a research report on Wednesday, April 2nd. Truist Financial increased their price objective on shares of Charles Schwab from $97.00 to $100.00 and gave the company a “buy” rating in a research report on Monday. Finally, JMP Securities reissued a “market outperform” rating and issued a $94.00 target price on shares of Charles Schwab in a report on Monday, April 21st. Two analysts have rated the stock with a sell rating, three have issued a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Charles Schwab presently has a consensus rating of “Moderate Buy” and a consensus price target of $89.40.

Insider Activity at Charles Schwab

In other news, insider Jonathan S. Beatty sold 2,850 shares of the company’s stock in a transaction that occurred on Friday, May 30th. The shares were sold at an average price of $87.57, for a total value of $249,574.50. Following the completion of the sale, the insider now owns 15,219 shares of the company’s stock, valued at approximately $1,332,727.83. This represents a 15.77% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Paul V. Woolway sold 3,380 shares of Charles Schwab stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $77.43, for a total transaction of $261,713.40. Following the transaction, the insider now directly owns 45,824 shares in the company, valued at approximately $3,548,152.32. The trade was a 6.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 97,608 shares of company stock worth $8,392,040 in the last quarter. 6.30% of the stock is owned by company insiders.

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.