OVERSEA CHINESE BANKING Corp Ltd Takes Position in The Charles Schwab Corporation (NYSE:SCHW)

OVERSEA CHINESE BANKING Corp Ltd purchased a new position in shares of The Charles Schwab Corporation (NYSE:SCHW - Free Report) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 4,228 shares of the financial services provider's stock, valued at approximately $331,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Apollon Wealth Management LLC grew its holdings in Charles Schwab by 5.6% in the first quarter. Apollon Wealth Management LLC now owns 37,719 shares of the financial services provider's stock valued at $2,953,000 after purchasing an additional 1,985 shares during the period. Hohimer Wealth Management LLC purchased a new stake in Charles Schwab in the first quarter valued at approximately $725,000. Sigma Planning Corp grew its holdings in Charles Schwab by 58.1% in the first quarter. Sigma Planning Corp now owns 13,516 shares of the financial services provider's stock valued at $1,058,000 after purchasing an additional 4,965 shares during the period. Catalyst Financial Partners LLC grew its holdings in Charles Schwab by 3.5% in the first quarter. Catalyst Financial Partners LLC now owns 12,701 shares of the financial services provider's stock valued at $994,000 after purchasing an additional 433 shares during the period. Finally, Signaturefd LLC grew its holdings in Charles Schwab by 9.4% in the first quarter. Signaturefd LLC now owns 27,797 shares of the financial services provider's stock valued at $2,176,000 after purchasing an additional 2,387 shares during the period. 84.38% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on SCHW shares. Wells Fargo & Company set a $102.00 target price on shares of Charles Schwab and gave the company an "overweight" rating in a report on Friday. Barclays reaffirmed an "overweight" rating on shares of Charles Schwab in a research report on Friday. Truist Financial lifted their price target on shares of Charles Schwab from $97.00 to $100.00 and gave the company a "buy" rating in a research report on Monday, June 16th. JPMorgan Chase & Co. lifted their price target on shares of Charles Schwab from $92.00 to $95.00 and gave the company an "overweight" rating in a research report on Monday, April 21st. Finally, Citigroup reaffirmed an "outperform" rating on shares of Charles Schwab in a research report on Monday. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat.com, Charles Schwab currently has a consensus rating of "Moderate Buy" and an average price target of $95.60.

Charles Schwab Stock Up 1.9%

Shares of NYSE SCHW traded up $1.79 during trading on Friday, reaching $94.89. 8,951,873 shares of the stock were exchanged, compared to its average volume of 10,189,838. The company has a market capitalization of $172.41 billion, a price-to-earnings ratio of 28.74, a price-to-earnings-growth ratio of 0.95 and a beta of 0.93. The business's 50-day moving average price is $89.21 and its 200 day moving average price is $81.89. The company has a quick ratio of 0.53, a current ratio of 0.53 and a debt-to-equity ratio of 0.53. The Charles Schwab Corporation has a twelve month low of $61.15 and a twelve month high of $97.50.

Charles Schwab (NYSE:SCHW - Get Free Report) last issued its earnings results on Friday, July 18th. The financial services provider reported $1.14 EPS for the quarter, topping the consensus estimate of $1.10 by $0.04. The company had revenue of $5.85 billion during the quarter, compared to analyst estimates of $5.64 billion. Charles Schwab had a return on equity of 18.31% and a net margin of 31.71%. The business's revenue was up 24.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.73 EPS. As a group, equities analysts forecast that The Charles Schwab Corporation will post 4.22 EPS for the current fiscal year.

Charles Schwab Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, May 23rd. Shareholders of record on Friday, May 9th were issued a dividend of $0.27 per share. The ex-dividend date was Friday, May 9th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.14%. Charles Schwab's dividend payout ratio (DPR) is 32.73%.

Insider Activity at Charles Schwab

In other news, insider Paul V. Woolway sold 3,290 shares of the company's stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $90.95, for a total transaction of $299,225.50. Following the completion of the transaction, the insider owned 35,864 shares in the company, valued at approximately $3,261,830.80. This represents a 8.40% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Peter J. Morgan III sold 10,176 shares of the company's stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $87.39, for a total transaction of $889,280.64. The disclosure for this sale can be found here. Insiders sold 119,905 shares of company stock valued at $10,530,833 in the last ninety days. 6.30% of the stock is owned by 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.