The Charles Schwab Corporation (NYSE:SCHW) Shares Sold by Essex Savings Bank

Essex Savings Bank lessened its holdings in The Charles Schwab Corporation (NYSE:SCHW) by 0.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 21,718 shares of the financial services provider’s stock after selling 146 shares during the quarter. Essex Savings Bank’s holdings in Charles Schwab were worth $1,700,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. Atwood & Palmer Inc. purchased a new position in shares of Charles Schwab in the first quarter worth about $25,000. WFA Asset Management Corp acquired a new position in Charles Schwab in the 1st quarter worth approximately $33,000. Murphy & Mullick Capital Management Corp purchased a new position in Charles Schwab during the 4th quarter worth approximately $38,000. Atala Financial Inc acquired a new stake in Charles Schwab during the 4th quarter valued at approximately $41,000. Finally, Investors Research Corp boosted its holdings in shares of Charles Schwab by 75.2% in the 1st quarter. Investors Research Corp now owns 559 shares of the financial services provider’s stock valued at $44,000 after acquiring an additional 240 shares during the last quarter. Hedge funds and other institutional investors own 84.38% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on SCHW. Piper Sandler raised their target price on shares of Charles Schwab from $74.00 to $80.00 in a report on Thursday, April 17th. TD Cowen raised Charles Schwab from a “hold” rating to a “buy” rating and increased their price target for the stock from $88.00 to $103.00 in a research report on Tuesday, February 18th. Redburn Atlantic raised Charles Schwab from a “sell” rating to a “neutral” rating and boosted their price objective for the company from $65.00 to $82.00 in a report on Monday, June 9th. Keefe, Bruyette & Woods raised their target price on Charles Schwab from $90.00 to $93.00 and gave the stock an “outperform” rating in a report on Tuesday, April 22nd. Finally, JPMorgan Chase & Co. lifted their price target on Charles Schwab from $92.00 to $95.00 and gave the company an “overweight” rating in a research report on Monday, April 21st. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $89.40.

Insiders Place Their Bets

In related news, insider Jonathan M. Craig sold 9,559 shares of the firm’s stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $82.00, for a total transaction of $783,838.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Paul V. Woolway sold 3,380 shares of the company’s stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $77.43, for a total transaction of $261,713.40. Following the completion of the transaction, the insider now directly owns 45,824 shares in the company, valued at $3,548,152.32. The trade was a 6.87% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 97,608 shares of company stock valued at $8,392,040. Insiders own 6.30% of the company’s stock.

Charles Schwab Trading Down 0.0%

SCHW stock opened at $88.95 on Wednesday. The business’s 50-day moving average is $83.96 and its 200 day moving average is $79.94. The Charles Schwab Corporation has a 12-month low of $61.01 and a 12-month high of $89.85. The stock has a market cap of $161.61 billion, a price-to-earnings ratio of 26.95, a PEG ratio of 0.95 and a beta of 0.94. The company has a current ratio of 0.53, a quick ratio of 0.53 and a debt-to-equity ratio of 0.53.

Charles Schwab (NYSE:SCHW) last issued its quarterly earnings results on Thursday, April 17th. The financial services provider reported $1.04 EPS for the quarter, topping the consensus estimate of $1.01 by $0.03. Charles Schwab had a return on equity of 18.31% and a net margin of 31.71%. The firm had revenue of $5.60 billion during the quarter, compared to analysts’ expectations of $5.46 billion. During the same period in the previous year, the business earned $0.74 earnings per share. On average, sell-side analysts anticipate that The Charles Schwab Corporation 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. Stockholders of record on Friday, May 9th were issued a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 1.21%. The ex-dividend date was Friday, May 9th. Charles Schwab’s dividend payout ratio is currently 32.73%.

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.