Basswood Capital Management L.L.C. Reduces Position in The Charles Schwab Co. (NYSE:SCHW)

Basswood Capital Management L.L.C. trimmed its holdings in The Charles Schwab Co. (NYSE:SCHW) by 43.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 146,467 shares of the financial services provider’s stock after selling 112,037 shares during the quarter. Basswood Capital Management L.L.C.’s holdings in Charles Schwab were worth $9,493,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of SCHW. Washington Trust Advisors Inc. lifted its position in shares of Charles Schwab by 62.6% during the third 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. Capital Performance Advisors LLP bought a new stake in Charles Schwab during the 3rd quarter valued at about $25,000. Country Trust Bank purchased a new stake in Charles Schwab in the 2nd quarter valued at about $26,000. American Capital Advisory LLC bought a new position in Charles Schwab in the 2nd quarter worth about $27,000. Finally, Fortitude Family Office LLC increased its position in shares of Charles Schwab by 97.5% during the second quarter. Fortitude Family Office LLC now owns 389 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 192 shares during the period. 84.38% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. StockNews.com raised Charles Schwab from a “sell” rating to a “hold” rating in a research note on Wednesday, October 16th. The Goldman Sachs Group increased their price target on Charles Schwab from $67.00 to $74.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 16th. Keefe, Bruyette & Woods lifted their price objective on Charles Schwab from $76.00 to $81.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. JPMorgan Chase & Co. increased their target price on shares of Charles Schwab from $86.00 to $87.00 and gave the stock an “overweight” rating in a report on Wednesday, October 16th. Finally, Wells Fargo & Company boosted their price target on shares of Charles Schwab from $70.00 to $75.00 and gave the company an “equal weight” rating in a report on Wednesday, October 16th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $75.56.

Insider Activity

In related news, Chairman Charles R. Schwab sold 62,345 shares of Charles Schwab stock in a transaction dated 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 completion of 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 transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Jonathan S. Beatty sold 2,300 shares of the stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $82.01, for a total transaction of $188,623.00. Following the completion of the transaction, the insider now owns 18,069 shares in the company, valued at approximately $1,481,838.69. This trade represents a 11.29 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 127,968 shares of company stock valued at $9,419,271 over the last ninety days. 6.60% of the stock is currently owned by insiders.

Charles Schwab Stock Up 0.2 %

Shares of SCHW stock opened at $82.76 on Monday. The stock’s fifty day moving average price is $72.37 and its 200 day moving average price is $69.97. The Charles Schwab Co. has a 1-year low of $59.61 and a 1-year high of $83.35. The company has a market cap of $147.28 billion, a price-to-earnings ratio of 32.33, a price-to-earnings-growth ratio of 1.79 and a beta of 0.96. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.47 and a quick ratio of 0.47.

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. The business had revenue of $4.85 billion for the quarter, compared to analyst estimates of $4.78 billion. Charles Schwab had a return on equity of 16.92% and a net margin of 27.47%. The company’s revenue was up 5.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.77 earnings per share. On average, research analysts expect that The Charles Schwab Co. will post 3.12 earnings per share for the current fiscal year.

Charles Schwab Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Friday, November 8th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.00 annualized dividend and a dividend yield of 1.21%. 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.