Fifth Third Bancorp Sells 20,993 Shares of The Charles Schwab Co. (NYSE:SCHW)

Fifth Third Bancorp cut its holdings in The Charles Schwab Co. (NYSE:SCHW) by 12.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 144,958 shares of the financial services provider’s stock after selling 20,993 shares during the period. Fifth Third Bancorp’s holdings in Charles Schwab were worth $10,728,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Alliance Wealth Advisors LLC increased its stake in shares of Charles Schwab by 2.7% in the third quarter. Alliance Wealth Advisors LLC now owns 5,358 shares of the financial services provider’s stock worth $347,000 after purchasing an additional 142 shares in the last quarter. Michael S. Ryan Inc. lifted its position in shares of Charles Schwab by 2.5% in the fourth quarter. Michael S. Ryan Inc. now owns 5,998 shares of the financial services provider’s stock valued at $444,000 after acquiring an additional 144 shares in the last quarter. GS Investments Inc. boosted its stake in shares of Charles Schwab by 0.3% in the third quarter. GS Investments Inc. now owns 57,434 shares of the financial services provider’s stock worth $3,722,000 after acquiring an additional 146 shares during the period. Relyea Zuckerberg Hanson LLC grew its position in shares of Charles Schwab by 2.8% during the fourth quarter. Relyea Zuckerberg Hanson LLC now owns 5,413 shares of the financial services provider’s stock worth $401,000 after purchasing an additional 148 shares in the last quarter. Finally, Washington Trust Advisors Inc. raised its stake 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 valued at $25,000 after purchasing an additional 149 shares during the period. Hedge funds and other institutional investors own 84.38% of the company’s stock.

Insider Activity at Charles Schwab

In other news, insider Jonathan S. Beatty sold 2,300 shares of Charles Schwab stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $82.01, for a total value of $188,623.00. Following the transaction, the insider now owns 18,069 shares of the company’s stock, valued at $1,481,838.69. The trade was a 11.29 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Peter J. Morgan III sold 14,643 shares of the stock in a transaction that occurred on Wednesday, January 22nd. The shares were sold at an average price of $80.70, for a total transaction of $1,181,690.10. The disclosure for this sale can be found here. Insiders sold 41,466 shares of company stock worth $3,352,884 over the last three months. 6.60% of the stock is owned by corporate insiders.

Charles Schwab Stock Down 0.5 %

Shares of SCHW opened at $81.67 on Friday. The firm has a fifty day moving average price of $77.81 and a 200-day moving average price of $70.88. 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 firm has a market capitalization of $145.34 billion, a P/E ratio of 27.31, a P/E/G ratio of 1.46 and a beta of 0.99. The Charles Schwab Co. has a 12-month low of $61.01 and a 12-month high of $83.35.

Charles Schwab (NYSE:SCHW) last announced its quarterly earnings results on Tuesday, January 21st. The financial services provider reported $1.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.90 by $0.11. Charles Schwab had a return on equity of 18.20% and a net margin of 30.31%. The firm had revenue of $5.33 billion during the quarter, compared to analyst estimates of $5,190,822.51 billion. During the same quarter in the previous year, the business earned $0.68 earnings per share. Charles Schwab’s quarterly revenue was up 19.5% on a year-over-year basis. Equities research analysts expect that The Charles Schwab Co. will post 4.09 earnings per share for the current year.

Wall Street Analysts Forecast Growth

SCHW has been the subject of a number of research analyst reports. JPMorgan Chase & Co. increased their price objective on shares of Charles Schwab from $87.00 to $93.00 and gave the company an “overweight” rating in a report on Tuesday, January 7th. Raymond James decreased their price target on shares of Charles Schwab from $76.00 to $73.00 in a research note on Tuesday, October 15th. Citigroup raised their price target on Charles Schwab from $80.00 to $85.00 and gave the company a “neutral” rating in a report on Wednesday. Keefe, Bruyette & Woods raised their target price on shares of Charles Schwab from $81.00 to $93.00 and gave the company an “outperform” rating in a report on Friday, December 20th. Finally, Cowen upped their price target on shares of Charles Schwab from $69.00 to $75.00 and gave the company a “hold” rating in a research note on Tuesday, October 15th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $83.83.

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.