The Charles Schwab Co. (NYSE:SCHW) Shares Sold by Tower Bridge Advisors

Tower Bridge Advisors reduced its stake in shares of The Charles Schwab Co. (NYSE:SCHW) by 2.6% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 127,859 shares of the financial services provider’s stock after selling 3,431 shares during the period. Tower Bridge Advisors’ holdings in Charles Schwab were worth $8,287,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the stock. Alliance Wealth Advisors LLC grew its holdings 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 valued at $347,000 after purchasing an additional 142 shares in the last quarter. Washington Trust Advisors Inc. lifted its holdings 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 worth $25,000 after buying an additional 149 shares in the last quarter. Arcataur Capital Management LLC boosted its position in Charles Schwab by 2.3% in the 3rd quarter. Arcataur Capital Management LLC now owns 6,648 shares of the financial services provider’s stock valued at $431,000 after buying an additional 150 shares during the period. Tandem Capital Management Corp ADV grew its stake in shares of Charles Schwab by 0.3% in the third quarter. Tandem Capital Management Corp ADV now owns 49,537 shares of the financial services provider’s stock worth $3,210,000 after acquiring an additional 150 shares in the last quarter. Finally, Ascent Wealth Partners LLC increased its position in shares of Charles Schwab by 0.7% during the second quarter. Ascent Wealth Partners LLC now owns 23,361 shares of the financial services provider’s stock worth $1,721,000 after acquiring an additional 164 shares during the period. Hedge funds and other institutional investors own 84.38% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on SCHW. JMP Securities lifted their target price on Charles Schwab from $82.00 to $84.00 and gave the company a “market outperform” rating in a report on Wednesday, October 16th. Cowen lifted their price objective on Charles Schwab from $69.00 to $75.00 and gave the company a “hold” rating in a research note on Tuesday, October 15th. Bank of America lowered their price objective on Charles Schwab from $63.00 to $61.00 and set an “underperform” rating for the company in a research report on Wednesday, October 16th. Citigroup reduced their target price on shares of Charles Schwab from $75.00 to $72.00 and set a “neutral” rating on the stock in a report on Friday, September 27th. Finally, JPMorgan Chase & Co. boosted their price target 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. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $74.18.

Charles Schwab Stock Performance

NYSE SCHW opened at $80.64 on Friday. The company has a fifty day moving average of $68.74 and a two-hundred day moving average of $69.63. The company has a market capitalization of $143.51 billion, a PE ratio of 31.50, a P/E/G ratio of 1.76 and a beta of 0.96. The Charles Schwab Co. has a 1 year low of $55.09 and a 1 year high of $82.50. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.47 and a quick ratio of 0.42.

Charles Schwab (NYSE:SCHW) last announced its earnings results on Tuesday, October 15th. The financial services provider reported $0.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.75 by $0.02. The firm had revenue of $4.85 billion during the quarter, compared to analysts’ expectations of $4.78 billion. Charles Schwab had a return on equity of 16.92% and a net margin of 27.47%. The business’s revenue was up 5.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.77 EPS. As a group, analysts expect that The Charles Schwab Co. will post 3.12 earnings per share for the current year.

Charles Schwab Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Friday, November 8th will be issued a $0.25 dividend. The ex-dividend date is Friday, November 8th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.24%. Charles Schwab’s payout ratio is 39.06%.

Insider Activity

In other Charles Schwab news, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $64.05, for a total transaction of $576,450.00. Following the completion of the sale, the director now directly owns 554,929 shares of the company’s stock, valued at $35,543,202.45. This represents a 1.60 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jonathan S. Beatty sold 2,500 shares of the stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $77.02, for a total value of $192,550.00. Following the sale, the insider now directly owns 18,069 shares of the company’s stock, valued at $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. Insiders have sold 103,645 shares of company stock valued at $7,440,627 in the last ninety days. 6.60% of the stock is currently owned by company insiders.

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.