First Interstate Bank Purchases 1,490 Shares of The Charles Schwab Co. (NYSE:SCHW)

First Interstate Bank lifted its position in shares of The Charles Schwab Co. (NYSE:SCHW) by 2.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 62,051 shares of the financial services provider’s stock after purchasing an additional 1,490 shares during the period. First Interstate Bank’s holdings in Charles Schwab were worth $4,022,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Norden Group LLC acquired a new position in shares of Charles Schwab in the first quarter worth approximately $1,256,000. J.W. Cole Advisors Inc. boosted its stake in shares of Charles Schwab by 17.3% in the 1st quarter. J.W. Cole Advisors Inc. now owns 5,240 shares of the financial services provider’s stock valued at $379,000 after purchasing an additional 771 shares during the last quarter. Mission Wealth Management LP acquired a new stake in shares of Charles Schwab during the first quarter worth $521,000. Janney Montgomery Scott LLC raised its stake in Charles Schwab by 7.8% during the first quarter. Janney Montgomery Scott LLC now owns 630,167 shares of the financial services provider’s stock worth $45,586,000 after buying an additional 45,380 shares during the last quarter. Finally, Tokio Marine Asset Management Co. Ltd. lifted its holdings in Charles Schwab by 9.4% in the first quarter. Tokio Marine Asset Management Co. Ltd. now owns 38,279 shares of the financial services provider’s stock valued at $2,769,000 after buying an additional 3,285 shares during the period. Institutional investors and hedge funds own 84.38% of the company’s stock.

Charles Schwab Stock Performance

NYSE:SCHW traded up $0.11 during trading on Friday, reaching $70.94. The company’s stock had a trading volume of 6,266,153 shares, compared to its average volume of 8,068,163. The Charles Schwab Co. has a 12 month low of $53.49 and a 12 month high of $79.49. The firm has a market cap of $126.16 billion, a price-to-earnings ratio of 27.71, a price-to-earnings-growth ratio of 1.62 and a beta of 0.96. The firm has a 50 day moving average of $66.39 and a 200-day moving average of $69.53. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.42 and a current ratio of 0.42.

Charles Schwab (NYSE:SCHW) last posted its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $0.77 earnings per share for the quarter, beating the consensus estimate of $0.75 by $0.02. The company had revenue of $4.85 billion during the quarter, compared to analyst estimates of $4.78 billion. Charles Schwab had a net margin of 27.47% and a return on equity of 17.52%. The firm’s revenue for the quarter was up 5.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.77 earnings per share. Research analysts expect that The Charles Schwab Co. will post 3.11 EPS for the current fiscal year.

Charles Schwab Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Friday, November 8th will be paid a $0.25 dividend. The ex-dividend date is Friday, November 8th. This represents a $1.00 annualized dividend and a yield of 1.41%. Charles Schwab’s payout ratio is 39.06%.

Insider Buying and Selling at Charles Schwab

In related news, Chairman Charles R. Schwab sold 62,345 shares of the business’s stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $72.52, for a total value of $4,521,259.40. Following the sale, the chairman now directly owns 60,619,371 shares in the company, valued at approximately $4,396,116,784.92. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, Chairman Charles R. Schwab sold 62,345 shares of Charles Schwab stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $72.52, for a total value of $4,521,259.40. Following the completion of the transaction, the chairman now directly owns 60,619,371 shares in the company, valued at approximately $4,396,116,784.92. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the firm’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $64.05, for a total value of $576,450.00. Following the completion of the transaction, the director now directly owns 554,929 shares of the company’s stock, valued at $35,543,202.45. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 113,465 shares of company stock valued at $8,050,109. Company insiders own 6.60% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on SCHW shares. Keefe, Bruyette & Woods lifted their price objective on Charles Schwab from $76.00 to $81.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. Deutsche Bank Aktiengesellschaft cut their price target on Charles Schwab from $77.00 to $76.00 in a report on Tuesday, October 15th. Bank of America lowered their price objective on shares of Charles Schwab from $63.00 to $61.00 and set an “underperform” rating for the company in a research note on Wednesday, October 16th. Cowen raised their price target 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. Finally, JPMorgan Chase & Co. upped 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. Two analysts have rated the stock with a sell rating, nine have given a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $73.94.

Charles Schwab 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.