The Charles Schwab Co. (NYSE:SCHW) Shares Bought by First Commonwealth Financial Corp PA

First Commonwealth Financial Corp PA increased its position in The Charles Schwab Co. (NYSE:SCHW) by 2.2% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 12,459 shares of the financial services provider’s stock after purchasing an additional 269 shares during the quarter. First Commonwealth Financial Corp PA’s holdings in Charles Schwab were worth $807,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Alliance Wealth Advisors LLC grew its stake in shares of Charles Schwab by 2.7% during the third quarter. Alliance Wealth Advisors LLC now owns 5,358 shares of the financial services provider’s stock valued at $347,000 after acquiring an additional 142 shares in the last quarter. GS Investments Inc. grew its stake in Charles Schwab by 0.3% during the 3rd quarter. GS Investments Inc. now owns 57,434 shares of the financial services provider’s stock valued at $3,722,000 after purchasing an additional 146 shares in the last quarter. Washington Trust Advisors Inc. increased its holdings in Charles Schwab by 62.6% during the 3rd quarter. Washington Trust Advisors Inc. now owns 387 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 149 shares during the last quarter. Arcataur Capital Management LLC grew its holdings in Charles Schwab by 2.3% during the 3rd quarter. Arcataur Capital Management LLC now owns 6,648 shares of the financial services provider’s stock worth $431,000 after acquiring an additional 150 shares in the last quarter. Finally, Tandem Capital Management Corp ADV increased its position in shares of Charles Schwab by 0.3% in the 3rd quarter. Tandem Capital Management Corp ADV now owns 49,537 shares of the financial services provider’s stock worth $3,210,000 after purchasing an additional 150 shares during the last quarter. 84.38% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $64.05, for a total value of $576,450.00. Following the sale, the director now directly owns 554,929 shares in the company, valued at $35,543,202.45. The trade was a 1.60 % decrease in their position. 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 firm’s stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $72.52, for a total transaction of $4,521,259.40. Following the sale, the chairman now owns 60,619,371 shares of the company’s stock, valued at $4,396,116,784.92. The trade was a 0.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 125,668 shares of company stock worth $9,230,648. 6.60% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Barclays boosted their price objective on Charles Schwab from $64.00 to $74.00 and gave the company an “equal weight” rating in a report on Wednesday, October 16th. Cowen lifted their price objective on shares of Charles Schwab from $69.00 to $75.00 and gave the stock a “hold” rating in a report on Tuesday, October 15th. Citigroup dropped their target price on shares of Charles Schwab from $75.00 to $72.00 and set a “neutral” rating on the stock in a report on Friday, September 27th. Raymond James lowered their price objective on shares of Charles Schwab from $76.00 to $73.00 in a research report on Tuesday, October 15th. Finally, JMP Securities raised their target price on shares of Charles Schwab from $82.00 to $84.00 and gave the stock a “market outperform” rating in a report on Wednesday, October 16th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, Charles Schwab has a consensus rating of “Hold” and an average price target of $74.18.

Charles Schwab Price Performance

SCHW stock traded up $0.16 during trading on Wednesday, hitting $82.41. The company had a trading volume of 219,686 shares, compared to its average volume of 8,058,969. The business has a 50 day moving average of $71.28 and a 200 day moving average of $69.85. The firm has a market capitalization of $146.66 billion, a price-to-earnings ratio of 32.12, a P/E/G ratio of 1.77 and a beta of 0.96. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 0.59. The Charles Schwab Co. has a fifty-two week low of $55.59 and a fifty-two week high of $82.50.

Charles Schwab (NYSE:SCHW) last issued its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $0.77 earnings per share for the quarter, topping analysts’ consensus estimates of $0.75 by $0.02. Charles Schwab had a net margin of 27.47% and a return on equity of 16.92%. The company had revenue of $4.85 billion during the quarter, compared to analyst estimates of $4.78 billion. During the same period in the prior year, the business posted $0.77 EPS. The business’s revenue for the quarter was up 5.2% compared to the same quarter last year. As a group, research analysts predict that The Charles Schwab Co. will post 3.12 earnings per share for the current year.

Charles Schwab Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Friday, November 8th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.21%. The ex-dividend date was Friday, November 8th. Charles Schwab’s payout ratio is currently 39.06%.

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.