Eastern Bank Purchases 628 Shares of The Charles Schwab Co. (NYSE:SCHW)

Eastern Bank raised its holdings in shares of The Charles Schwab Co. (NYSE:SCHW) by 37.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,317 shares of the financial services provider’s stock after purchasing an additional 628 shares during the period. Eastern Bank’s holdings in Charles Schwab were worth $171,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the business. Washington Trust Advisors Inc. lifted its holdings in Charles Schwab by 62.6% in the third quarter. Washington Trust Advisors Inc. now owns 387 shares of the financial services provider’s stock valued at $25,000 after buying an additional 149 shares during the period. Capital Performance Advisors LLP bought a new stake in shares of Charles Schwab during the 3rd quarter valued at $25,000. Prospera Private Wealth LLC acquired a new position in shares of Charles Schwab in the 3rd quarter valued at $31,000. Future Financial Wealth Managment LLC bought a new position in shares of Charles Schwab in the 3rd quarter worth $32,000. Finally, Hazlett Burt & Watson Inc. acquired a new stake in shares of Charles Schwab during the third quarter worth $33,000. Institutional investors own 84.38% of the company’s stock.

Insider Activity at Charles Schwab

In other news, Director Carolyn Schwab-Pomerantz sold 29,800 shares of Charles Schwab stock in a transaction dated Thursday, October 17th. The shares were sold at an average price of $72.16, for a total value of $2,150,368.00. Following the completion of the transaction, the director now owns 551,329 shares of the company’s stock, valued at $39,783,900.64. This trade represents a 5.13 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Jonathan S. Beatty sold 2,500 shares of the company’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $77.02, for a total transaction of $192,550.00. Following the completion of the sale, the insider now directly owns 18,069 shares in the company, valued at approximately $1,391,674.38. The trade was a 12.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 56,623 shares of company stock valued at $4,321,562. Insiders own 6.60% of the company’s stock.

Charles Schwab Price Performance

NYSE SCHW opened at $72.30 on Wednesday. The firm’s 50 day moving average is $77.62 and its 200-day moving average is $70.58. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 0.59. The company has a market capitalization of $128.67 billion, a PE ratio of 28.24, a price-to-earnings-growth ratio of 1.76 and a beta of 0.99. The Charles Schwab Co. has a 12-month low of $59.67 and a 12-month high of $83.35.

Charles Schwab (NYSE:SCHW) last issued its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $0.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.75 by $0.02. Charles Schwab had a net margin of 27.47% and a return on equity of 16.92%. The firm had revenue of $4.85 billion for the quarter, compared to analyst estimates of $4.78 billion. During the same period in the previous year, the business earned $0.77 EPS. The company’s revenue was up 5.2% compared to the same quarter last year. Equities research analysts anticipate that The Charles Schwab Co. will post 3.12 earnings per share for the current fiscal year.

Charles Schwab Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Friday, November 8th were issued a dividend of $0.25 per share. The ex-dividend date was Friday, November 8th. This represents a $1.00 annualized dividend and a yield of 1.38%. Charles Schwab’s payout ratio is presently 39.06%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on SCHW shares. JPMorgan Chase & Co. raised their target price on Charles Schwab from $87.00 to $93.00 and gave the stock an “overweight” rating in a report on Tuesday, January 7th. Keefe, Bruyette & Woods lifted their price objective on shares of Charles Schwab from $81.00 to $93.00 and gave the stock an “outperform” rating in a research note on Friday, December 20th. Truist Financial raised shares of Charles Schwab to a “strong-buy” rating in a research note on Monday, January 6th. StockNews.com raised shares of Charles Schwab from a “sell” rating to a “hold” rating in a research report on Wednesday, October 16th. Finally, 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 report on Wednesday, October 16th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $81.63.

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.