Pinnacle Financial Partners Inc increased its holdings in shares of The Charles Schwab Corporation (NYSE:SCHW - Free Report) by 928.4% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 18,459 shares of the financial services provider's stock after purchasing an additional 16,664 shares during the quarter. Pinnacle Financial Partners Inc's holdings in Charles Schwab were worth $1,437,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Cary Street Partners Financial LLC bought a new position in shares of Charles Schwab during the fourth quarter valued at $1,455,000. Banco Santander S.A. lifted its holdings in shares of Charles Schwab by 49.6% during 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 purchasing an additional 5,413 shares in the last quarter. Graham Capital Management L.P. lifted its holdings in shares of Charles Schwab by 248.3% during the fourth quarter. Graham Capital Management L.P. now owns 112,376 shares of the financial services provider's stock valued at $8,317,000 after purchasing an additional 80,112 shares in the last quarter. State of Alaska Department of Revenue lifted its holdings in shares of Charles Schwab by 17.2% during the first quarter. State of Alaska Department of Revenue now owns 199,687 shares of the financial services provider's stock valued at $15,631,000 after purchasing an additional 29,255 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Charles Schwab by 14.2% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 618,033 shares of the financial services provider's stock valued at $45,741,000 after purchasing an additional 76,954 shares in the last quarter. 84.38% of the stock is owned by institutional investors.
Analysts Set New Price Targets
A number of research firms have weighed in on SCHW. TD Securities increased their target price on Charles Schwab from $95.00 to $113.00 and gave the company a "buy" rating in a report on Tuesday, May 20th. Citigroup raised Charles Schwab from a "neutral" rating to a "buy" rating and increased their target price for the company from $85.00 to $102.00 in a report on Wednesday, April 2nd. Cowen reissued a "buy" rating on shares of Charles Schwab in a report on Tuesday, May 20th. Wells Fargo & Company reduced their price target on Charles Schwab from $93.00 to $87.00 and set an "overweight" rating for the company in a research report on Tuesday, April 8th. Finally, Barclays reduced their price target on Charles Schwab from $96.00 to $84.00 and set an "overweight" rating for the company in a research report on Monday, April 7th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and fifteen have given a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $89.40.
Read Our Latest Stock Report on SCHW
Charles Schwab Price Performance
Shares of NYSE:SCHW traded down $0.14 during trading on Friday, hitting $91.20. 5,765,549 shares of the company's stock were exchanged, compared to its average volume of 9,572,077. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.53 and a quick ratio of 0.53. The Charles Schwab Corporation has a 52-week low of $61.01 and a 52-week high of $92.15. The business's 50-day simple moving average is $87.44 and its 200 day simple moving average is $80.83. The company has a market cap of $165.71 billion, a price-to-earnings ratio of 27.64, a PEG ratio of 0.98 and a beta of 0.93.
Charles Schwab (NYSE:SCHW - Get Free Report) last released its earnings results on Thursday, April 17th. The financial services provider reported $1.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.01 by $0.03. Charles Schwab had a return on equity of 18.31% and a net margin of 31.71%. The firm had revenue of $5.60 billion during the quarter, compared to analysts' expectations of $5.46 billion. During the same quarter last year, the business posted $0.74 earnings per share. As a group, equities analysts predict that The Charles Schwab Corporation will post 4.22 EPS for the current year.
Charles Schwab Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Friday, May 23rd. Investors of record on Friday, May 9th were given a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 1.18%. The ex-dividend date was Friday, May 9th. Charles Schwab's dividend payout ratio is currently 32.73%.
Insider Activity at Charles Schwab
In other news, Director Paula A. Sneed sold 8,647 shares of the firm's stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $88.06, for a total value of $761,454.82. Following the completion of the sale, the director directly owned 105,654 shares of the company's stock, valued at $9,303,891.24. This trade represents a 7.57% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, General Counsel Peter J. Morgan III sold 10,176 shares of Charles Schwab stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $87.39, for a total value 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 90 days. 6.30% of the stock is currently owned by insiders.
About Charles Schwab
(
Free Report)
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.
Further Reading
Before you consider Charles Schwab, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Charles Schwab wasn't on the list.
While Charles Schwab currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Wondering what the next stocks will be that hit it big, with solid fundamentals? Enter your email address to see which stocks MarketBeat analysts could become the next blockbuster growth stocks.
Get This Free Report
