First Citizens Bank & Trust Co. Acquires 852 Shares of The Charles Schwab Co. (NYSE:SCHW)

First Citizens Bank & Trust Co. raised its position in shares of The Charles Schwab Co. (NYSE:SCHW) by 4.2% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,167 shares of the financial services provider’s stock after buying an additional 852 shares during the quarter. First Citizens Bank & Trust Co.’s holdings in Charles Schwab were worth $1,560,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of SCHW. Vanguard Group Inc. grew its holdings in Charles Schwab by 0.9% during the 1st quarter. Vanguard Group Inc. now owns 120,963,133 shares of the financial services provider’s stock valued at $8,750,473,000 after purchasing an additional 1,042,823 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of Charles Schwab by 4.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 72,306,560 shares of the financial services provider’s stock valued at $5,230,657,000 after purchasing an additional 2,946,327 shares during the period. Massachusetts Financial Services Co. MA increased its stake in Charles Schwab by 4.1% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 30,994,967 shares of the financial services provider’s stock worth $2,132,454,000 after buying an additional 1,219,015 shares during the period. Fisher Asset Management LLC lifted its holdings in Charles Schwab by 1.6% during the 4th quarter. Fisher Asset Management LLC now owns 18,627,667 shares of the financial services provider’s stock valued at $1,281,584,000 after buying an additional 296,317 shares in the last quarter. Finally, Norges Bank bought a new position in Charles Schwab in the 4th quarter worth about $950,192,000. Institutional investors own 84.38% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on SCHW shares. Bank of America decreased their price target on shares of Charles Schwab from $72.00 to $66.00 and set an “underperform” rating for the company in a research note on Wednesday, July 17th. Morgan Stanley lowered their target price on Charles Schwab from $71.00 to $70.00 and set an “equal weight” rating for the company in a report on Friday. JMP Securities decreased their price objective on Charles Schwab from $85.00 to $82.00 and set a “market outperform” rating for the company in a report on Tuesday, July 23rd. Deutsche Bank Aktiengesellschaft increased their target price on shares of Charles Schwab from $79.00 to $80.00 and gave the stock a “buy” rating in a report on Thursday, August 15th. Finally, Piper Sandler lowered shares of Charles Schwab from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $80.00 to $64.00 in a report on Monday, July 29th. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $74.27.

Insider Activity at Charles Schwab

In related news, insider Bernard J. Clark sold 8,164 shares of the stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $75.00, for a total transaction of $612,300.00. Following the sale, the insider now directly owns 121,666 shares of the company’s stock, valued at $9,124,950. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Carolyn Schwab-Pomerantz sold 12,320 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $65.10, for a total value of $802,032.00. Following the completion of the sale, the director now directly owns 562,129 shares in the company, valued at $36,594,597.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Bernard J. Clark sold 8,164 shares of Charles Schwab stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $75.00, for a total transaction of $612,300.00. Following the completion of the sale, the insider now directly owns 121,666 shares in the company, valued at approximately $9,124,950. The disclosure for this sale can be found here. Insiders sold 185,231 shares of company stock worth $12,638,320 over the last three months. Company insiders own 6.60% of the company’s stock.

Charles Schwab Stock Performance

Charles Schwab stock traded down $0.59 during mid-day trading on Tuesday, reaching $64.99. 1,149,739 shares of the company traded hands, compared to its average volume of 7,957,768. The Charles Schwab Co. has a fifty-two week low of $48.66 and a fifty-two week high of $79.49. The firm’s fifty day moving average is $68.97 and its two-hundred day moving average is $70.05. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.42 and a quick ratio of 0.42. The company has a market capitalization of $115.58 billion, a price-to-earnings ratio of 27.44, a price-to-earnings-growth ratio of 1.23 and a beta of 0.99.

Charles Schwab (NYSE:SCHW) last announced its quarterly earnings data on Tuesday, July 16th. The financial services provider reported $0.73 earnings per share for the quarter, beating analysts’ consensus estimates of $0.72 by $0.01. Charles Schwab had a return on equity of 18.14% and a net margin of 26.30%. The business had revenue of $4.69 billion for the quarter, compared to analyst estimates of $4.68 billion. During the same period in the prior year, the company earned $0.75 earnings per share. The company’s revenue was up .7% on a year-over-year basis. On average, equities research analysts expect that The Charles Schwab Co. will post 3.06 earnings per share for the current fiscal year.

Charles Schwab Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 23rd. Investors of record on Friday, August 9th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, August 9th. This represents a $1.00 annualized dividend and a dividend yield of 1.54%. Charles Schwab’s dividend payout ratio (DPR) is presently 41.84%.

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.