The Charles Schwab Co. (NYSE:SCHW) Shares Sold by Independence Bank of Kentucky

Independence Bank of Kentucky cut its stake in shares of The Charles Schwab Co. (NYSE:SCHW) by 6.7% during the first quarter, Holdings Channel reports. The firm owned 14,855 shares of the financial services provider’s stock after selling 1,060 shares during the quarter. Independence Bank of Kentucky’s holdings in Charles Schwab were worth $1,163,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of SCHW. Brighton Jones LLC increased its holdings in shares of Charles Schwab by 380.5% in the 4th quarter. Brighton Jones LLC now owns 24,240 shares of the financial services provider’s stock valued at $1,794,000 after purchasing an additional 19,195 shares during the period. Confluence Wealth Services Inc. acquired a new position in Charles Schwab in the fourth quarter worth approximately $236,000. YANKCOM Partnership acquired a new position in shares of Charles Schwab during the 4th quarter worth $107,000. Bleakley Financial Group LLC increased its position in Charles Schwab by 0.9% during the fourth quarter. Bleakley Financial Group LLC now owns 25,344 shares of the financial services provider’s stock worth $1,876,000 after buying an additional 228 shares during the last quarter. Finally, GHP Investment Advisors Inc. raised its holdings in Charles Schwab by 1.7% during the fourth quarter. GHP Investment Advisors Inc. now owns 65,159 shares of the financial services provider’s stock valued at $4,822,000 after buying an additional 1,082 shares in the last quarter. 84.38% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, insider Paul V. Woolway sold 3,290 shares of the company’s stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $87.68, for a total value of $288,467.20. Following the completion of the sale, the insider now owns 39,154 shares in the company, valued at $3,433,022.72. This represents a 7.75% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Jonathan M. Craig sold 47,500 shares of the firm’s stock in a transaction dated Wednesday, May 21st. The stock was sold at an average price of $88.46, for a total value of $4,201,850.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 97,608 shares of company stock valued at $8,392,040. Company insiders own 6.30% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on SCHW shares. Truist Financial lifted their price target on shares of Charles Schwab from $84.00 to $97.00 and gave the company a “buy” rating in a research report on Thursday, May 15th. The Goldman Sachs Group raised shares of Charles Schwab from a “neutral” rating to a “buy” rating and set a $100.00 price target for the company in a report on Friday, April 25th. UBS Group boosted their price target on Charles Schwab from $95.00 to $96.00 and gave the company a “buy” rating in a research note on Tuesday, April 22nd. TD Securities boosted their price target on shares of Charles Schwab from $95.00 to $113.00 and gave the company a “buy” rating in a report on Tuesday, May 20th. Finally, Cowen restated a “buy” rating on shares of Charles Schwab in a research note on Tuesday, May 20th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat, Charles Schwab presently has a consensus rating of “Moderate Buy” and an average target price of $89.63.

Charles Schwab Stock Up 1.2%

Shares of NYSE SCHW opened at $88.25 on Friday. 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 cap of $160.35 billion, a price-to-earnings ratio of 29.52, a price-to-earnings-growth ratio of 0.99 and a beta of 0.90. The Charles Schwab Co. has a 12-month low of $61.01 and a 12-month high of $89.85. The firm’s 50-day simple moving average is $81.74 and its 200 day simple moving average is $79.64.

Charles Schwab (NYSE:SCHW) last released its earnings results on Thursday, April 17th. The financial services provider reported $1.04 EPS for the quarter, beating the consensus estimate of $1.01 by $0.03. Charles Schwab had a return on equity of 18.20% and a net margin of 30.31%. The company had revenue of $5.60 billion during the quarter, compared to analysts’ expectations of $5.46 billion. During the same period last year, the firm earned $0.74 EPS. On average, research analysts expect that The Charles Schwab Co. will post 4.22 earnings per share for the current fiscal year.

Charles Schwab Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 23rd. Investors of record on Friday, May 9th were issued a $0.27 dividend. The ex-dividend date was Friday, May 9th. This represents a $1.08 annualized dividend and a yield of 1.22%. Charles Schwab’s dividend payout ratio is currently 32.73%.

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.