Fairfield Financial Advisors LTD Cuts Stock Holdings in The Charles Schwab Co. (NYSE:SCHW)

Fairfield Financial Advisors LTD decreased its holdings in shares of The Charles Schwab Co. (NYSE:SCHW) by 19.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 950 shares of the financial services provider’s stock after selling 223 shares during the quarter. Fairfield Financial Advisors LTD’s holdings in Charles Schwab were worth $62,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of SCHW. Country Trust Bank purchased a new stake in Charles Schwab in the second quarter worth approximately $26,000. American Capital Advisory LLC purchased a new stake in Charles Schwab in the second quarter worth approximately $27,000. Fortitude Family Office LLC boosted its stake in Charles Schwab by 97.5% in the second quarter. Fortitude Family Office LLC now owns 389 shares of the financial services provider’s stock worth $29,000 after buying an additional 192 shares in the last quarter. CGC Financial Services LLC purchased a new stake in Charles Schwab in the second quarter worth approximately $29,000. Finally, Mizuho Securities Co. Ltd. purchased a new stake in Charles Schwab in the second quarter worth approximately $29,000. Hedge funds and other institutional investors own 84.38% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on SCHW. JMP Securities upped their target price on Charles Schwab from $82.00 to $84.00 and gave the stock a “market outperform” rating in a research note on Wednesday, October 16th. 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. Keefe, Bruyette & Woods boosted their price objective on Charles Schwab from $76.00 to $81.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. UBS Group lowered their price objective on Charles Schwab from $91.00 to $90.00 and set a “buy” rating for the company in a research report on Tuesday, July 9th. Finally, Raymond James lowered their price objective on Charles Schwab from $76.00 to $73.00 in a research report on Tuesday, October 15th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $73.94.

Insider Buying and Selling

In other news, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $64.05, for a total value of $576,450.00. Following the sale, the director now directly owns 554,929 shares of the company’s stock, valued at approximately $35,543,202.45. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $64.05, for a total value of $576,450.00. Following the sale, the director now directly owns 554,929 shares of the company’s stock, valued at approximately $35,543,202.45. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Chairman Charles R. Schwab sold 62,345 shares of the stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $72.52, for a total value of $4,521,259.40. Following the completion of the sale, the chairman now directly owns 60,619,371 shares in the company, valued at approximately $4,396,116,784.92. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 113,465 shares of company stock valued at $8,050,109 over the last ninety days. Company insiders own 6.60% of the company’s stock.

Charles Schwab Stock Up 0.4 %

SCHW stock traded up $0.26 during midday trading on Thursday, hitting $71.36. The stock had a trading volume of 2,298,549 shares, compared to its average volume of 8,005,354. The firm has a market cap of $126.83 billion, a price-to-earnings ratio of 29.75, a price-to-earnings-growth ratio of 1.65 and a beta of 0.97. The business has a 50-day moving average of $66.13 and a two-hundred day moving average of $69.52. The Charles Schwab Co. has a 52-week low of $50.30 and a 52-week high of $79.49. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.42 and a quick ratio of 0.42.

Charles Schwab (NYSE:SCHW) last issued its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $0.77 earnings per share for the quarter, topping the consensus estimate of $0.75 by $0.02. The company had revenue of $4.85 billion for the quarter, compared to analysts’ expectations of $4.78 billion. Charles Schwab had a return on equity of 17.52% and a net margin of 27.47%. The firm’s revenue for the quarter was up 5.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.77 earnings per share. As a group, equities research analysts forecast that The Charles Schwab Co. will post 3.11 earnings per share for the current fiscal year.

Charles Schwab Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Friday, November 8th will be paid a $0.25 dividend. The ex-dividend date is Friday, November 8th. This represents a $1.00 annualized dividend and a yield of 1.40%. Charles Schwab’s payout ratio is 41.84%.

Charles Schwab 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.