Montecito Bank & Trust Purchases New Stake in The Charles Schwab Corporation $SCHW

Montecito Bank & Trust acquired a new position in shares of The Charles Schwab Corporation (NYSE:SCHW) in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 16,193 shares of the financial services provider’s stock, valued at approximately $1,546,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Princeton Global Asset Management LLC bought a new position in shares of Charles Schwab during the second quarter worth about $25,000. RMG Wealth Management LLC acquired a new stake in Charles Schwab during the second quarter valued at approximately $27,000. CBIZ Investment Advisory Services LLC raised its stake in Charles Schwab by 97.9% during the first quarter. CBIZ Investment Advisory Services LLC now owns 386 shares of the financial services provider’s stock valued at $30,000 after buying an additional 191 shares in the last quarter. Activest Wealth Management lifted its holdings in Charles Schwab by 6,650.0% during the 1st quarter. Activest Wealth Management now owns 405 shares of the financial services provider’s stock worth $32,000 after buying an additional 399 shares during the last quarter. Finally, Hoese & Co LLP grew its position in shares of Charles Schwab by 131.6% in the 2nd quarter. Hoese & Co LLP now owns 352 shares of the financial services provider’s stock worth $32,000 after acquiring an additional 200 shares in the last quarter. Institutional investors own 84.38% of the company’s stock.

Charles Schwab Stock Performance

SCHW opened at $96.55 on Thursday. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 0.47. The business’s 50 day moving average is $93.98 and its 200-day moving average is $93.61. The stock has a market cap of $171.56 billion, a PE ratio of 22.61, a price-to-earnings-growth ratio of 0.80 and a beta of 0.96. The Charles Schwab Corporation has a twelve month low of $65.88 and a twelve month high of $99.59.

Charles Schwab (NYSE:SCHW) last posted its earnings results on Thursday, October 16th. The financial services provider reported $1.31 EPS for the quarter, beating the consensus estimate of $1.25 by $0.06. The firm had revenue of $6.38 billion for the quarter, compared to analysts’ expectations of $5.93 billion. Charles Schwab had a return on equity of 21.02% and a net margin of 35.93%.The firm’s revenue was up 26.6% compared to the same quarter last year. During the same period last year, the firm earned $0.71 EPS. On average, analysts predict that The Charles Schwab Corporation will post 4.22 earnings per share for the current year.

Charles Schwab Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 28th. Stockholders of record on Friday, November 14th were issued a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend was Friday, November 14th. Charles Schwab’s dividend payout ratio (DPR) is 25.29%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on SCHW shares. Zacks Research downgraded shares of Charles Schwab from a “strong-buy” rating to a “hold” rating in a report on Wednesday, September 17th. Truist Financial raised their price target on shares of Charles Schwab from $112.00 to $113.00 and gave the stock a “buy” rating in a research report on Friday, October 17th. Bank of America boosted their price objective on shares of Charles Schwab from $88.00 to $91.00 and gave the company an “underperform” rating in a research report on Wednesday, December 10th. Cowen reiterated a “buy” rating on shares of Charles Schwab in a research note on Friday, October 17th. Finally, Morgan Stanley raised their target price on shares of Charles Schwab from $130.00 to $139.00 and gave the stock an “overweight” rating in a report on Monday, November 3rd. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Charles Schwab currently has a consensus rating of “Moderate Buy” and a consensus price target of $108.37.

Insider Transactions at Charles Schwab

In related news, insider Jonathan S. Beatty sold 3,072 shares of Charles Schwab stock in a transaction dated Wednesday, November 12th. The shares were sold at an average price of $98.00, for a total transaction of $301,056.00. Following the sale, the insider directly owned 11,923 shares in the company, valued at $1,168,454. The trade was a 20.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Paul V. Woolway sold 3,205 shares of the stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $93.33, for a total transaction of $299,122.65. Following the completion of the transaction, the insider owned 34,778 shares of the company’s stock, valued at $3,245,830.74. This represents a 8.44% decrease in their position. The disclosure for this sale is available in the SEC filing. 6.30% of the stock is owned by insiders.

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.