Fifth Third Bancorp Sells 15,074 Shares of The Charles Schwab Corporation $SCHW

Fifth Third Bancorp decreased its position in shares of The Charles Schwab Corporation (NYSE:SCHW) by 3.5% in the third quarter, Holdings Channel.com reports. The firm owned 418,255 shares of the financial services provider’s stock after selling 15,074 shares during the period. Fifth Third Bancorp’s holdings in Charles Schwab were worth $40,880,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of SCHW. Bingham Private Wealth LLC raised its position in Charles Schwab by 3.1% during the third quarter. Bingham Private Wealth LLC now owns 8,266 shares of the financial services provider’s stock valued at $808,000 after acquiring an additional 251 shares in the last quarter. Maryland State Retirement & Pension System lifted its stake in Charles Schwab by 14.4% in the third quarter. Maryland State Retirement & Pension System now owns 99,813 shares of the financial services provider’s stock valued at $9,756,000 after acquiring an additional 12,555 shares during the last quarter. Ritholtz Wealth Management grew its position in Charles Schwab by 9.8% in the third quarter. Ritholtz Wealth Management now owns 31,920 shares of the financial services provider’s stock worth $3,120,000 after acquiring an additional 2,862 shares in the last quarter. Joel Isaacson & Co. LLC grew its position in Charles Schwab by 4.2% in the third quarter. Joel Isaacson & Co. LLC now owns 9,179 shares of the financial services provider’s stock worth $897,000 after acquiring an additional 367 shares in the last quarter. Finally, Machina Capital S.A.S. grew its position in Charles Schwab by 263.0% in the third quarter. Machina Capital S.A.S. now owns 40,620 shares of the financial services provider’s stock worth $3,970,000 after acquiring an additional 29,430 shares in the last quarter. Hedge funds and other institutional investors own 84.38% of the company’s stock.

Charles Schwab Stock Down 1.2%

SCHW opened at $91.64 on Friday. The business has a 50 day moving average price of $97.18 and a 200 day moving average price of $97.19. The Charles Schwab Corporation has a twelve month low of $83.96 and a twelve month high of $114.53. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.64 and a current ratio of 0.66. The firm has a market cap of $158.18 billion, a P/E ratio of 15.64, a price-to-earnings-growth ratio of 0.83 and a beta of 0.77.

Charles Schwab (NYSE:SCHW) last announced its earnings results on Thursday, October 15th. The financial services provider reported $1.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.66 by $0.03. Charles Schwab had a return on equity of 25.46% and a net margin of 39.33%. The firm had revenue of $7.17 billion during the quarter, compared to analysts’ expectations of $7.18 billion. During the same quarter in the prior year, the business earned $1.31 earnings per share. The company’s revenue was up 16.9% on a year-over-year basis. Research analysts forecast that The Charles Schwab Corporation will post 6.41 EPS for the current year.

Charles Schwab Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 27th. Stockholders of record on Friday, November 13th will be paid a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date is Friday, November 13th. Charles Schwab’s payout ratio is presently 21.84%.

Insiders Place Their Bets

In related news, insider Jonathan Beatty sold 1,000 shares of the company’s stock in a transaction on Monday, August 17th. The shares were sold at an average price of $111.33, for a total transaction of $111,330.00. Following the completion of the sale, the insider directly owned 10,738 shares of the company’s stock, valued at approximately $1,195,461.54. This represents a 8.52% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Walter Bettinger sold 74,388 shares of the company’s stock in a transaction on Friday, August 28th. The stock was sold at an average price of $110.91, for a total transaction of $8,250,373.08. Following the sale, the chairman directly owned 610,360 shares of the company’s stock, valued at approximately $67,695,027.60. This represents a 10.86% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 251,598 shares of company stock valued at $28,359,776 over the last 90 days. 6.30% of the stock is owned by corporate insiders.

Key Charles Schwab News

Investors following SCHW have been watching these news items:

• Positive Sentiment: Schwab announced new capabilities across Schwab.com, Schwab Mobile and thinkorswim, including an MCP server to connect clients’ AI platforms with their Schwab accounts. The additions could improve the client experience and help the firm compete for retail investors. Schwab Announces Platform Enhancements Including MCP Server to Connect Clients’ AI Platforms With Their Schwab Accounts
• Positive Sentiment: Schwab is expanding eligible clients’ access to Solana, Avalanche and Chainlink alongside Bitcoin and Ethereum through its existing brokerage accounts. Broader crypto offerings could attract or retain clients, though the article provides no revenue estimates. What Is Charles Schwab (SCHW) Signaling By Adding Solana, Avalanche And Chainlink?
• Neutral Sentiment: Schwab issued $3 billion in senior notes on November 12, including $300 million in floating-rate notes. The announcement did not specify how the proceeds will be used, so the effect on earnings or capital is unclear. Charles Schwab Issues $3 Billion in Senior Notes

Analysts Set New Price Targets

Several research analysts have recently commented on SCHW shares. Wells Fargo & Company dropped their price target on shares of Charles Schwab from $105.00 to $103.00 and set an “equal weight” rating on the stock in a research note on Friday, October 16th. TD Cowen lifted their price objective on shares of Charles Schwab from $128.00 to $129.00 and gave the company a “buy” rating in a research note on Monday, October 12th. Argus upped their price objective on shares of Charles Schwab from $108.00 to $114.00 and gave the stock a “buy” rating in a report on Thursday, July 23rd. JPMorgan Chase & Co. lowered their target price on shares of Charles Schwab from $150.00 to $147.00 and set an “overweight” rating on the stock in a research report on Friday, October 16th. Finally, Keefe, Bruyette & Woods reissued an “outperform” rating and set a $111.00 target price (up from $109.00) on shares of Charles Schwab in a research report on Friday, October 16th. Eighteen equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $119.91.

Charles Schwab Profile

The Charles Schwab Corporation is a financial services company that provides brokerage, banking, wealth management, and investment services. Its offerings include brokerage accounts, trading and research tools, retirement products, banking services, and investment advice for individuals, as well as services for independent financial advisors, employers, and institutions. Founded in 1971 by Charles R. Schwab, the company helped popularize discount brokerage services. It expanded its brokerage business with the 2020 acquisition of TD Ameritrade, whose trading platform and services became part of Schwab.