First Citizens Bank & Trust Co. Sells 3,184 Shares of The Charles Schwab Co. (NYSE:SCHW)

First Citizens Bank & Trust Co. decreased its position in The Charles Schwab Co. (NYSE:SCHW) by 14.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,685 shares of the financial services provider’s stock after selling 3,184 shares during the quarter. First Citizens Bank & Trust Co.’s holdings in Charles Schwab were worth $1,463,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Gladstone Institutional Advisory LLC boosted its holdings in shares of Charles Schwab by 2.0% in the 4th quarter. Gladstone Institutional Advisory LLC now owns 6,247 shares of the financial services provider’s stock worth $462,000 after buying an additional 124 shares during the last quarter. Klingman & Associates LLC boosted its holdings in shares of Charles Schwab by 3.2% in the 4th quarter. Klingman & Associates LLC now owns 4,083 shares of the financial services provider’s stock worth $302,000 after buying an additional 125 shares during the last quarter. Investors Asset Management of Georgia Inc. GA ADV boosted its holdings in shares of Charles Schwab by 2.7% in the 4th quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 4,763 shares of the financial services provider’s stock worth $353,000 after buying an additional 127 shares during the last quarter. Personal CFO Solutions LLC boosted its holdings in shares of Charles Schwab by 1.2% in the 4th quarter. Personal CFO Solutions LLC now owns 11,236 shares of the financial services provider’s stock worth $832,000 after buying an additional 130 shares during the last quarter. Finally, O ROURKE & COMPANY Inc boosted its holdings in shares of Charles Schwab by 1.1% in the 4th quarter. O ROURKE & COMPANY Inc now owns 12,958 shares of the financial services provider’s stock worth $959,000 after buying an additional 142 shares during the last quarter. 84.38% of the stock is owned by hedge funds and other institutional investors.

Charles Schwab Trading Down 0.1%

Shares of SCHW opened at $88.20 on Tuesday. The business’s 50-day moving average price is $81.93 and its 200-day moving average price is $79.67. The Charles Schwab Co. has a twelve month low of $61.01 and a twelve month high of $89.85. The stock has a market cap of $160.26 billion, a PE ratio of 29.50, a P/E/G ratio of 0.99 and a beta of 0.94. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 0.59.

Charles Schwab (NYSE:SCHW) last announced its earnings results on Thursday, April 17th. The financial services provider reported $1.04 earnings per share for the quarter, beating analysts’ consensus estimates of $1.01 by $0.03. The business had revenue of $5.60 billion for the quarter, compared to the consensus estimate of $5.46 billion. Charles Schwab had a net margin of 30.31% and a return on equity of 18.20%. During the same period last year, the firm posted $0.74 earnings per share. On average, equities analysts forecast that The Charles Schwab Co. will post 4.22 EPS for the current fiscal year.

Charles Schwab Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, May 23rd. Investors of record on Friday, May 9th were paid a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 1.22%. The ex-dividend date was Friday, May 9th. Charles Schwab’s dividend payout ratio is currently 32.73%.

Insider Activity at Charles Schwab

In other Charles Schwab news, insider Paul V. Woolway sold 8,614 shares of the stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $80.00, for a total transaction of $689,120.00. Following the transaction, the insider now directly owns 49,204 shares in the company, valued at $3,936,320. This trade represents a 14.90% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jonathan M. Craig sold 9,559 shares of the stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $82.00, for a total transaction of $783,838.00. The disclosure for this sale can be found here. Insiders have sold 97,608 shares of company stock valued at $8,392,040 over the last three months. 6.30% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on SCHW shares. JMP Securities reissued a “market outperform” rating and issued a $94.00 price target on shares of Charles Schwab in a report on Monday, April 21st. TD Securities upped their price objective on shares of Charles Schwab from $95.00 to $113.00 and gave the company a “buy” rating in a report on Tuesday, May 20th. Piper Sandler upped their price objective on shares of Charles Schwab from $74.00 to $80.00 in a report on Thursday, April 17th. Morgan Stanley upped their price objective on shares of Charles Schwab from $76.00 to $83.00 and gave the company an “overweight” rating in a report on Tuesday, May 13th. Finally, Citigroup raised shares of Charles Schwab from a “neutral” rating to a “buy” rating and upped their price objective for the company from $85.00 to $102.00 in a report on Wednesday, April 2nd. Two research 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. According to MarketBeat.com, Charles Schwab currently has an average rating of “Moderate Buy” and a consensus target price of $89.25.

Charles Schwab 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.