Parkside Financial Bank & Trust Sells 334 Shares of The Charles Schwab Co. (NYSE:SCHW)

Parkside Financial Bank & Trust lessened its holdings in shares of The Charles Schwab Co. (NYSE:SCHW) by 3.8% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 8,481 shares of the financial services provider’s stock after selling 334 shares during the period. Parkside Financial Bank & Trust’s holdings in Charles Schwab were worth $625,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Price T Rowe Associates Inc. MD boosted its position in shares of Charles Schwab by 33.4% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 69,360,233 shares of the financial services provider’s stock worth $4,771,985,000 after acquiring an additional 17,369,091 shares in the last quarter. Norges Bank bought a new position in shares of Charles Schwab in the 4th quarter valued at $950,192,000. Boston Partners raised its holdings in shares of Charles Schwab by 424.7% during the 4th quarter. Boston Partners now owns 4,451,090 shares of the financial services provider’s stock worth $305,400,000 after buying an additional 3,602,830 shares in the last quarter. Morningstar Investment Services LLC lifted its position in shares of Charles Schwab by 98.0% during the 4th quarter. Morningstar Investment Services LLC now owns 4,691,362 shares of the financial services provider’s stock worth $326,284,000 after buying an additional 2,322,156 shares during the last quarter. Finally, Franklin Resources Inc. boosted its stake in Charles Schwab by 19.7% in the fourth quarter. Franklin Resources Inc. now owns 9,472,698 shares of the financial services provider’s stock valued at $651,722,000 after buying an additional 1,558,975 shares in the last quarter. 84.38% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, Director Carolyn Schwab-Pomerantz sold 12,320 shares of Charles Schwab stock in a transaction on Thursday, August 15th. The shares were 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 owns 562,129 shares in the company, valued at approximately $36,594,597.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Carolyn Schwab-Pomerantz sold 12,320 shares of the stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $65.10, for a total transaction of $802,032.00. Following the transaction, the director now owns 562,129 shares of the company’s stock, valued at approximately $36,594,597.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, President Richard A. Wurster bought 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 17th. The stock was purchased at an average cost of $62.05 per share, with a total value of $620,500.00. Following the completion of the transaction, the president now directly owns 144,228 shares in the company, valued at $8,949,347.40. The disclosure for this purchase can be found here. Insiders sold 107,800 shares of company stock valued at $7,145,364 over the last 90 days. Company insiders own 6.60% of the company’s stock.

Charles Schwab Trading Up 0.0 %

Shares of NYSE SCHW traded up $0.03 during midday trading on Friday, reaching $63.72. The stock had a trading volume of 1,395,428 shares, compared to its average volume of 7,982,874. The company’s 50 day moving average price is $66.66 and its 200 day moving average price is $70.07. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.42 and a current ratio of 0.42. The Charles Schwab Co. has a twelve month low of $48.66 and a twelve month high of $79.49. The firm has a market cap of $113.32 billion, a price-to-earnings ratio of 26.65, a price-to-earnings-growth ratio of 1.22 and a beta of 0.97.

Charles Schwab (NYSE:SCHW) last released its earnings results on Tuesday, July 16th. The financial services provider reported $0.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.72 by $0.01. Charles Schwab had a net margin of 26.30% and a return on equity of 18.14%. The business had revenue of $4.69 billion for the quarter, compared to analyst estimates of $4.68 billion. During the same quarter in the previous year, the business earned $0.75 earnings per share. Charles Schwab’s revenue for the quarter was up .7% on a year-over-year basis. As a group, sell-side analysts expect that The Charles Schwab Co. will post 3.05 EPS for the current year.

Charles Schwab Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Friday, August 9th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, August 9th. This represents a $1.00 annualized dividend and a dividend yield of 1.57%. Charles Schwab’s payout ratio is 41.84%.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on SCHW. Barclays dropped their price objective on shares of Charles Schwab from $77.00 to $68.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 17th. StockNews.com cut Charles Schwab from a “hold” rating to a “sell” rating in a research note on Friday, May 24th. UBS Group reduced their price objective on Charles Schwab from $91.00 to $90.00 and set a “buy” rating on the stock in a research report on Tuesday, July 9th. Piper Sandler downgraded Charles Schwab from an “overweight” rating to a “neutral” rating and dropped their target price for the company from $80.00 to $64.00 in a research report on Monday, July 29th. Finally, Morgan Stanley reduced their price target on Charles Schwab from $71.00 to $70.00 and set an “equal weight” rating on the stock in a report on Friday, August 16th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $74.00.

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.