Webster Bank N. A. Has $3.05 Million Stock Holdings in The Charles Schwab Co. (NYSE:SCHW)

Webster Bank N. A. decreased its holdings in shares of The Charles Schwab Co. (NYSE:SCHW) by 1.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 42,099 shares of the financial services provider’s stock after selling 563 shares during the period. Webster Bank N. A.’s holdings in Charles Schwab were worth $3,045,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. Investment Research & Advisory Group Inc. raised its holdings in shares of Charles Schwab by 1.0% in the fourth quarter. Investment Research & Advisory Group Inc. now owns 58,979 shares of the financial services provider’s stock valued at $4,058,000 after purchasing an additional 607 shares during the last quarter. Morningstar Investment Services LLC raised its holdings in shares of Charles Schwab by 98.0% in the fourth quarter. Morningstar Investment Services LLC now owns 4,691,362 shares of the financial services provider’s stock valued at $326,284,000 after purchasing an additional 2,322,156 shares during the last quarter. Brown Advisory Inc. raised its holdings in shares of Charles Schwab by 24.3% in the fourth quarter. Brown Advisory Inc. now owns 4,393,223 shares of the financial services provider’s stock valued at $302,254,000 after purchasing an additional 857,734 shares during the last quarter. Allspring Global Investments Holdings LLC raised its holdings in shares of Charles Schwab by 22.2% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 883,379 shares of the financial services provider’s stock valued at $60,776,000 after purchasing an additional 160,719 shares during the last quarter. Finally, Retirement Systems of Alabama grew its position in Charles Schwab by 13.0% during the fourth quarter. Retirement Systems of Alabama now owns 1,329,388 shares of the financial services provider’s stock valued at $91,462,000 after buying an additional 152,967 shares during the period. Institutional investors and hedge funds own 84.38% of the company’s stock.

Insider Buying and Selling at Charles Schwab

In related news, General Counsel Peter J. Morgan III sold 24,520 shares of the stock in a transaction that occurred on Tuesday, April 16th. The shares were sold at an average price of $72.23, for a total value of $1,771,079.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Charles Schwab news, CFO Peter B. Crawford sold 5,482 shares of the stock in a transaction that occurred on Thursday, April 18th. The shares were sold at an average price of $73.46, for a total transaction of $402,707.72. Following the completion of the sale, the chief financial officer now directly owns 60,567 shares of the company’s stock, valued at approximately $4,449,251.82. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, General Counsel Peter J. Morgan III sold 24,520 shares of the stock in a transaction that occurred on Tuesday, April 16th. The shares were sold at an average price of $72.23, for a total transaction of $1,771,079.60. The disclosure for this sale can be found here. Insiders sold a total of 658,663 shares of company stock worth $48,997,146 in the last three months. 6.60% of the stock is currently owned by company insiders.

Charles Schwab Trading Up 0.2 %

NYSE:SCHW traded up $0.13 during trading hours on Friday, hitting $73.69. The company had a trading volume of 8,997,560 shares, compared to its average volume of 5,743,318. The company has a market capitalization of $130.97 billion, a PE ratio of 30.83, a price-to-earnings-growth ratio of 1.14 and a beta of 0.96. The stock has a 50-day moving average price of $74.42 and a 200 day moving average price of $69.78. The Charles Schwab Co. has a 52 week low of $48.66 and a 52 week high of $79.49. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.42 and a quick ratio of 0.42.

Charles Schwab (NYSE:SCHW) last released its quarterly earnings results on Monday, April 15th. The financial services provider reported $0.74 earnings per share for the quarter, beating the consensus estimate of $0.73 by $0.01. The business had revenue of $4.74 billion for the quarter, compared to analysts’ expectations of $4.71 billion. Charles Schwab had a net margin of 26.14% and a return on equity of 19.25%. On average, equities research analysts predict that The Charles Schwab Co. will post 3.25 EPS for the current fiscal year.

Charles Schwab Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, May 24th. Shareholders of record on Friday, May 10th were paid a dividend of $0.25 per share. The ex-dividend date was Thursday, May 9th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.36%. Charles Schwab’s dividend payout ratio is currently 41.84%.

Analyst Ratings Changes

SCHW has been the subject of a number of research reports. Morgan Stanley increased their target price on shares of Charles Schwab from $65.00 to $71.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 9th. Piper Sandler increased their price target on shares of Charles Schwab from $75.00 to $78.00 and gave the stock an “overweight” rating in a report on Friday, April 12th. Bank of America increased their price target on shares of Charles Schwab from $68.00 to $70.00 and gave the stock an “underperform” rating in a report on Tuesday, April 16th. TD Cowen lowered their price target on shares of Charles Schwab from $92.00 to $88.00 and set a “buy” rating on the stock in a report on Thursday, May 23rd. Finally, Citigroup increased their price target on shares of Charles Schwab from $70.00 to $75.00 and gave the stock a “neutral” rating in a report on Thursday, April 11th. Three analysts have rated the stock with a sell rating, five have assigned a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, Charles Schwab presently has an average rating of “Hold” and an average target price of $75.56.

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.