Park National Corp OH Sells 5,710 Shares of The Charles Schwab Co. (NYSE:SCHW)

Park National Corp OH lessened its position in The Charles Schwab Co. (NYSE:SCHW - Free Report) by 1.8% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 318,400 shares of the financial services provider's stock after selling 5,710 shares during the quarter. Park National Corp OH's holdings in Charles Schwab were worth $24,924,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in SCHW. Murphy & Mullick Capital Management Corp purchased a new position in shares of Charles Schwab during the fourth quarter valued at approximately $38,000. Atala Financial Inc purchased a new position in Charles Schwab during the fourth quarter valued at $41,000. Knuff & Co LLC raised its stake in Charles Schwab by 1,309.3% during the fourth quarter. Knuff & Co LLC now owns 606 shares of the financial services provider's stock valued at $45,000 after buying an additional 563 shares during the last quarter. Financial Life Planners purchased a new position in shares of Charles Schwab in the 4th quarter worth about $46,000. Finally, Whipplewood Advisors LLC purchased a new position in shares of Charles Schwab in the 4th quarter worth about $46,000. Hedge funds and other institutional investors own 84.38% of the company's stock.

Charles Schwab Stock Performance

SCHW stock traded up $0.59 during trading on Friday, reaching $88.35. The stock had a trading volume of 11,834,362 shares, compared to its average volume of 9,398,983. The stock's 50 day moving average is $80.83 and its two-hundred day moving average is $79.37. The Charles Schwab Co. has a 52 week low of $61.01 and a 52 week high of $89.85. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 0.59. The firm has a market cap of $160.53 billion, a PE ratio of 29.55, a PEG ratio of 0.99 and a beta of 0.90.

Charles Schwab (NYSE:SCHW - Get Free Report) last issued its quarterly earnings data on Thursday, April 17th. The financial services provider reported $1.04 earnings per share for the quarter, topping the consensus estimate of $1.01 by $0.03. Charles Schwab had a net margin of 30.31% and a return on equity of 18.20%. The firm had revenue of $5.60 billion for the quarter, compared to analysts' expectations of $5.46 billion. During the same quarter in the prior year, the business earned $0.74 EPS. As a group, equities analysts anticipate that The Charles Schwab Co. will post 4.22 earnings per share for the current year.

Charles Schwab Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, May 23rd. Shareholders of record on Friday, May 9th were given 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 payout ratio is presently 32.73%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on SCHW shares. The Goldman Sachs Group raised Charles Schwab from a "neutral" rating to a "buy" rating and set a $100.00 price target for the company in a research report on Friday, April 25th. TD Securities lifted their target price on shares of Charles Schwab from $95.00 to $113.00 and gave the stock a "buy" rating in a report on Tuesday, May 20th. Morgan Stanley boosted their price objective on shares of Charles Schwab from $76.00 to $83.00 and gave the stock an "overweight" rating in a report on Tuesday, May 13th. Wells Fargo & Company decreased their price objective on shares of Charles Schwab from $93.00 to $87.00 and set an "overweight" rating for the company in a report on Tuesday, April 8th. Finally, Barclays decreased their price objective on shares of Charles Schwab from $96.00 to $84.00 and set an "overweight" rating for the company in a report on Monday, April 7th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $89.63.

Insiders Place Their Bets

In other Charles Schwab news, Director Frank C. Herringer sold 3,592 shares of the firm's stock in a transaction that occurred on Monday, April 21st. The shares were sold at an average price of $74.26, for a total transaction of $266,741.92. Following the sale, the director now owns 172,162 shares in the company, valued at approximately $12,784,750.12. This trade represents a 2.04% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Paula A. Sneed sold 8,647 shares of the firm's stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $88.06, for a total transaction of $761,454.82. Following the sale, the director now owns 105,654 shares in the company, valued at $9,303,891.24. The trade was a 7.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 104,735 shares of company stock worth $8,867,382. Company insiders own 6.30% of the company's stock.

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.