OLD National Bancorp IN Purchases 3,428 Shares of The Charles Schwab Co. (NYSE:SCHW)

OLD National Bancorp IN raised its position in shares of The Charles Schwab Co. (NYSE:SCHW - Free Report) by 26.0% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 16,631 shares of the financial services provider's stock after purchasing an additional 3,428 shares during the quarter. OLD National Bancorp IN's holdings in Charles Schwab were worth $1,302,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Cary Street Partners Financial LLC acquired a new position in shares of Charles Schwab during the fourth quarter valued at about $1,455,000. Asset Management One Co. Ltd. increased its holdings in Charles Schwab by 7.3% in the 4th quarter. Asset Management One Co. Ltd. now owns 637,957 shares of the financial services provider's stock worth $47,674,000 after acquiring an additional 43,308 shares in the last quarter. Banco Santander S.A. lifted its position in shares of Charles Schwab by 49.6% in the fourth quarter. Banco Santander S.A. now owns 16,316 shares of the financial services provider's stock valued at $1,208,000 after acquiring an additional 5,413 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in Charles Schwab by 0.6% during the fourth quarter. Bank of New York Mellon Corp now owns 10,438,852 shares of the financial services provider's stock worth $772,579,000 after buying an additional 60,683 shares during the last quarter. Finally, Paradigm Asset Management Co. LLC raised its position in shares of Charles Schwab by 217.0% during the 4th quarter. Paradigm Asset Management Co. LLC now owns 48,350 shares of the financial services provider's stock valued at $3,578,000 after buying an additional 33,100 shares during the period. Institutional investors own 84.38% of the company's stock.

Analysts Set New Price Targets

SCHW has been the subject of several analyst reports. JPMorgan Chase & Co. upped their price objective on Charles Schwab from $92.00 to $95.00 and gave the stock an "overweight" rating in a research report on Monday, April 21st. Morgan Stanley lifted their price objective on Charles Schwab from $76.00 to $83.00 and gave the company an "overweight" rating in a research report on Tuesday, May 13th. TD Securities increased their price target on Charles Schwab from $95.00 to $113.00 and gave the company a "buy" rating in a report on Tuesday, May 20th. Redburn Atlantic upgraded shares of Charles Schwab from a "sell" rating to a "neutral" rating and boosted their price objective for the stock from $65.00 to $82.00 in a report on Monday. Finally, Piper Sandler lifted their target price on Charles Schwab from $74.00 to $80.00 in a research report on Thursday, April 17th. Two analysts have rated the stock with a sell rating, three have given a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $89.25.

Charles Schwab Stock Performance

Shares of SCHW traded down $0.08 during trading hours on Thursday, reaching $88.32. 2,320,272 shares of the company traded hands, compared to its average volume of 10,565,779. The Charles Schwab Co. has a 1-year low of $61.01 and a 1-year high of $89.85. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.47 and a current ratio of 0.47. The stock's fifty day moving average is $82.58 and its 200 day moving average is $79.79. The stock has a market cap of $160.47 billion, a P/E ratio of 29.54, a price-to-earnings-growth ratio of 0.99 and a beta of 0.94.

Charles Schwab (NYSE:SCHW - Get Free Report) last announced its earnings results on Thursday, April 17th. The financial services provider reported $1.04 earnings per share for the quarter, beating analysts' consensus estimates of $1.01 by $0.03. The company had revenue of $5.60 billion during the quarter, compared to analyst estimates of $5.46 billion. Charles Schwab had a return on equity of 18.20% and a net margin of 30.31%. During the same period last year, the company posted $0.74 earnings per share. Equities research analysts anticipate that The Charles Schwab Co. will post 4.22 earnings per share for the current fiscal year.

Charles Schwab Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 23rd. Investors of record on Friday, May 9th were given a $0.27 dividend. The ex-dividend date of this dividend 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%.

Insider Activity at Charles Schwab

In other news, insider Jonathan S. Beatty sold 2,850 shares of the stock in a transaction dated Friday, May 30th. The shares were sold at an average price of $87.57, for a total transaction of $249,574.50. Following the transaction, the insider now owns 15,219 shares of the company's stock, valued at $1,332,727.83. This represents a 15.77% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Paul V. Woolway sold 8,614 shares of the company's stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $80.00, for a total transaction of $689,120.00. Following the completion of the sale, the insider now owns 49,204 shares in the company, valued at $3,936,320. This represents a 14.90% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 97,608 shares of company stock valued at $8,392,040. 6.30% of the stock is owned by insiders.

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.