493,951 Shares in The Charles Schwab Corporation $SCHW Acquired by Associated Banc Corp

Key Points

• Associated Banc Corp acquired 493,951 Charles Schwab shares in the third quarter, valued at about $48.3 million; SCHW now represents 1.1% of its portfolio.
• Analyst sentiment is a “Moderate Buy,” with 18 Buy, five Hold, and one Sell rating and a consensus price target of $119.91.
• Schwab reported quarterly EPS of $1.69, topping the $1.66 consensus, while revenue of $7.17 billion slightly missed estimates. It also declared a quarterly dividend of $0.32 per share.

Associated Banc Corp bought a new stake in shares of The Charles Schwab Corporation (NYSE:SCHW - Free Report) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 493,951 shares of the financial services provider's stock, valued at approximately $48,279,000. Charles Schwab comprises 1.1% of Associated Banc Corp's investment portfolio, making the stock its 17th largest position.

A number of other large investors have also recently added to or reduced their stakes in SCHW. Peoples Bank KS boosted its stake in shares of Charles Schwab by 2.7% during the 2nd quarter. Peoples Bank KS now owns 4,331 shares of the financial services provider's stock worth $400,000 after acquiring an additional 113 shares in the last quarter. Crumly & Associates Inc. raised its position in shares of Charles Schwab by 1.1% during the second quarter. Crumly & Associates Inc. now owns 10,479 shares of the financial services provider's stock worth $967,000 after purchasing an additional 115 shares during the period. Cypress Capital Group raised its position in shares of Charles Schwab by 4.2% during the first quarter. Cypress Capital Group now owns 2,945 shares of the financial services provider's stock worth $277,000 after purchasing an additional 118 shares during the period. Capital Management Associates Inc lifted its holdings in shares of Charles Schwab by 2.8% during the third quarter. Capital Management Associates Inc now owns 4,429 shares of the financial services provider's stock valued at $433,000 after purchasing an additional 120 shares during the last quarter. Finally, Klingman & Associates LLC lifted its holdings in shares of Charles Schwab by 1.5% during the first quarter. Klingman & Associates LLC now owns 8,417 shares of the financial services provider's stock valued at $791,000 after purchasing an additional 125 shares during the last quarter. 84.38% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

SCHW has been the subject of a number of recent analyst reports. Weiss Ratings upgraded Charles Schwab from a "buy (b-)" rating to a "buy (b)" rating in a research report on Thursday, September 10th. Wells Fargo & Company cut their price objective on Charles Schwab from $105.00 to $103.00 and set an "equal weight" rating on the stock in a report on Friday, October 16th. Citizens Jmp reaffirmed a "market outperform" rating and set a $120.00 price objective on shares of Charles Schwab in a research note on Friday, October 16th. Compass Point raised their target price on shares of Charles Schwab from $135.00 to $136.00 and gave the stock a "buy" rating in a report on Tuesday, October 6th. Finally, Argus raised their target price on shares of Charles Schwab from $108.00 to $114.00 and gave the stock a "buy" rating in a report on Thursday, July 23rd. Eighteen analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Charles Schwab currently has a consensus rating of "Moderate Buy" and a consensus target price of $119.91.

Insider Buying and Selling

In other news, insider Jonathan Beatty sold 1,000 shares of the stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $111.33, for a total value of $111,330.00. Following the completion of the sale, the insider directly owned 10,738 shares of the company's stock, valued at $1,195,461.54. This represents a 8.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Dennis Howard sold 2,198 shares of the firm's stock in a transaction that occurred on Thursday, August 13th. The stock was sold at an average price of $110.00, for a total transaction of $241,780.00. Following the sale, the insider owned 6,980 shares of the company's stock, valued at approximately $767,800. This represents a 23.95% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 285,734 shares of company stock worth $32,073,309 over the last ninety days. 6.30% of the stock is currently owned by corporate insiders.

Charles Schwab Stock Performance

Shares of Charles Schwab stock opened at $89.30 on Wednesday. The stock has a market cap of $154.43 billion, a PE ratio of 15.24, a price-to-earnings-growth ratio of 0.79 and a beta of 0.77. The business has a fifty day simple moving average of $99.56 and a 200-day simple moving average of $97.54. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 0.52. The Charles Schwab Corporation has a 12 month low of $83.96 and a 12 month high of $114.53.

Charles Schwab (NYSE:SCHW - Get Free Report) last issued its quarterly earnings results on Thursday, October 15th. The financial services provider reported $1.69 earnings per share for the quarter, beating analysts' consensus estimates of $1.66 by $0.03. The business had revenue of $7.17 billion for the quarter, compared to the consensus estimate of $7.18 billion. Charles Schwab had a return on equity of 25.79% and a net margin of 39.33%. Charles Schwab's revenue for the quarter was up 16.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.31 earnings per share. On average, sell-side analysts anticipate that The Charles Schwab Corporation will post 6.41 EPS for the current fiscal year.

Charles Schwab Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 27th. Shareholders of record on Friday, November 13th will be paid a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 1.4%. The ex-dividend date of this dividend is Friday, November 13th. Charles Schwab's payout ratio is 21.84%.

About Charles Schwab

The Charles Schwab Corporation NYSE: SCHW is a financial services company that provides investment, wealth management, banking and related services to individual investors, financial professionals and institutional clients. Through its brokerage business, Schwab offers trading and custody services for stocks, exchange-traded funds, mutual funds, options, fixed-income securities and other investments, along with retirement accounts and investment research tools.

The company also provides advisory and wealth management services, including managed portfolios, financial planning and support for registered investment advisors.

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