Toronto Dominion Bank Cuts Position in The Charles Schwab Co. (NYSE:SCHW)

Toronto Dominion Bank trimmed its holdings in shares of The Charles Schwab Co. (NYSE:SCHW) by 17.9% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 185,425,391 shares of the financial services provider’s stock after selling 40,537,580 shares during the period. Charles Schwab makes up 21.2% of Toronto Dominion Bank’s investment portfolio, making the stock its largest holding. Toronto Dominion Bank owned about 10.42% of Charles Schwab worth $12,017,420,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of SCHW. Benjamin Edwards Inc. lifted its holdings in shares of Charles Schwab by 2,840.7% in the 3rd quarter. Benjamin Edwards Inc. now owns 6,146 shares of the financial services provider’s stock worth $398,000 after purchasing an additional 5,937 shares in the last quarter. Patten & Patten Inc. TN lifted its holdings in shares of Charles Schwab by 155.9% in the 3rd quarter. Patten & Patten Inc. TN now owns 104,168 shares of the financial services provider’s stock worth $6,751,000 after purchasing an additional 63,463 shares in the last quarter. Equity Investment Corp lifted its holdings in shares of Charles Schwab by 9.4% in the 3rd quarter. Equity Investment Corp now owns 1,640,157 shares of the financial services provider’s stock worth $106,299,000 after purchasing an additional 140,643 shares in the last quarter. Teewinot Capital Advisers L.L.C. lifted its holdings in shares of Charles Schwab by 9.0% in the 2nd quarter. Teewinot Capital Advisers L.L.C. now owns 775,161 shares of the financial services provider’s stock worth $57,122,000 after purchasing an additional 64,041 shares in the last quarter. Finally, Iowa State Bank lifted its holdings in shares of Charles Schwab by 37.9% in the 3rd quarter. Iowa State Bank now owns 28,476 shares of the financial services provider’s stock worth $1,846,000 after purchasing an additional 7,829 shares in the last quarter. 84.38% of the stock is currently owned by institutional investors.

Charles Schwab Price Performance

Shares of Charles Schwab stock opened at $82.35 on Wednesday. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.47 and a quick ratio of 0.47. The business’s 50 day simple moving average is $74.41 and its two-hundred day simple moving average is $70.16. The stock has a market capitalization of $146.56 billion, a P/E ratio of 32.17, a price-to-earnings-growth ratio of 1.77 and a beta of 0.96. The Charles Schwab Co. has a one year low of $59.67 and a one year high of $83.35.

Charles Schwab (NYSE:SCHW) last announced its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $0.77 EPS for the quarter, topping analysts’ consensus estimates of $0.75 by $0.02. The business 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 16.92% and a net margin of 27.47%. The business’s quarterly revenue was up 5.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.77 EPS. Analysts forecast that The Charles Schwab Co. will post 3.12 EPS for the current year.

Charles Schwab Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Friday, November 8th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.00 annualized dividend and a dividend yield of 1.21%. Charles Schwab’s dividend payout ratio (DPR) is presently 39.06%.

Insider Activity

In other Charles Schwab news, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the business’s 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. The trade was a 1.60 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Jonathan S. Beatty sold 2,300 shares of the business’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $82.01, for a total value of $188,623.00. Following the completion of the sale, the insider now directly owns 18,069 shares in the company, valued at $1,481,838.69. This trade represents a 11.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 127,968 shares of company stock valued at $9,419,271. Company insiders own 6.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. Wells Fargo & Company increased their target price on Charles Schwab from $70.00 to $75.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 16th. Deutsche Bank Aktiengesellschaft raised their price objective on Charles Schwab from $77.00 to $80.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Piper Sandler raised their target price on Charles Schwab from $64.00 to $65.00 and gave the company a “neutral” rating in a research report on Wednesday, October 16th. Raymond James decreased their price objective on Charles Schwab from $76.00 to $73.00 in a report on Tuesday, October 15th. Finally, Bank of America cut their target price on Charles Schwab from $63.00 to $61.00 and set an “underperform” rating for the company in a research note on Wednesday, October 16th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $78.81.

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.