Tompkins Financial Corp reduced its position in The Charles Schwab Co. (NYSE:SCHW – Free Report) by 13.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,753 shares of the financial services provider’s stock after selling 600 shares during the quarter. Tompkins Financial Corp’s holdings in Charles Schwab were worth $243,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently made changes to their positions in SCHW. GSA Capital Partners LLP acquired a new position in Charles Schwab during the first quarter worth about $489,000. Quantbot Technologies LP bought a new position in Charles Schwab in the 1st quarter valued at approximately $2,351,000. Montag A & Associates Inc. boosted its position in Charles Schwab by 12.3% in the first quarter. Montag A & Associates Inc. now owns 179,872 shares of the financial services provider’s stock valued at $13,012,000 after buying an additional 19,757 shares in the last quarter. Atomi Financial Group Inc. grew its stake in shares of Charles Schwab by 12.4% during the first quarter. Atomi Financial Group Inc. now owns 10,590 shares of the financial services provider’s stock worth $766,000 after buying an additional 1,171 shares during the last quarter. Finally, GW Henssler & Associates Ltd. increased its holdings in shares of Charles Schwab by 2.6% during the first quarter. GW Henssler & Associates Ltd. now owns 282,758 shares of the financial services provider’s stock worth $20,455,000 after buying an additional 7,160 shares in the last quarter. 84.38% of the stock is currently owned by institutional investors and hedge funds.
Charles Schwab Stock Up 1.3 %
Shares of SCHW traded up $0.98 during trading hours on Friday, hitting $73.90. The stock had a trading volume of 8,728,207 shares, compared to its average volume of 8,034,901. The Charles Schwab Co. has a 1-year low of $53.49 and a 1-year high of $79.49. The firm has a 50 day simple moving average of $67.24 and a 200-day simple moving average of $69.52. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.42 and a quick ratio of 0.42. The firm has a market capitalization of $131.43 billion, a P/E ratio of 28.86, a price-to-earnings-growth ratio of 1.74 and a beta of 0.96.
Charles Schwab Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Friday, November 8th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.35%. The ex-dividend date of this dividend is Friday, November 8th. Charles Schwab’s payout ratio is 39.06%.
Insider Buying and Selling
In other Charles Schwab news, Director Carolyn Schwab-Pomerantz sold 12,320 shares of the stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $65.10, for a total transaction of $802,032.00. Following the completion of the transaction, the director now directly owns 562,129 shares of the company’s stock, valued at approximately $36,594,597.90. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Charles Schwab news, Director Carolyn Schwab-Pomerantz sold 12,320 shares of the company’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $65.10, for a total transaction of $802,032.00. Following the sale, the director now directly owns 562,129 shares of the company’s stock, valued at $36,594,597.90. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Chairman Charles R. Schwab sold 62,345 shares of the business’s stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $72.52, for a total transaction of $4,521,259.40. Following the completion of the sale, the chairman now directly owns 60,619,371 shares in the company, valued at approximately $4,396,116,784.92. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 113,465 shares of company stock valued at $8,050,109. 6.60% of the stock is owned by insiders.
Analysts Set New Price Targets
A number of equities research analysts recently weighed in on SCHW shares. Morgan Stanley boosted their price objective on Charles Schwab from $68.00 to $74.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 24th. The Goldman Sachs Group boosted their price target on Charles Schwab from $67.00 to $74.00 and gave the stock a “neutral” rating in a report on Wednesday, October 16th. JPMorgan Chase & Co. raised their price objective on shares of Charles Schwab from $86.00 to $87.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. TD Cowen reissued a “hold” rating and set a $71.00 target price (down from $88.00) on shares of Charles Schwab in a report on Wednesday, July 17th. Finally, Piper Sandler raised their price target on shares of Charles Schwab from $64.00 to $65.00 and gave the company a “neutral” rating in a research note on Wednesday, October 16th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $73.94.
Read Our Latest Analysis on SCHW
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.
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