Rockland Trust Co. Buys New Stake in The Charles Schwab Co. (NYSE:SCHW)

Rockland Trust Co. bought a new stake in The Charles Schwab Co. (NYSE:SCHW - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 4,610 shares of the financial services provider's stock, valued at approximately $361,000.

Several other hedge funds also recently bought and sold shares of the stock. Atwood & Palmer Inc. purchased a new stake in shares of Charles Schwab during the first quarter worth $25,000. WFA Asset Management Corp purchased a new stake in shares of Charles Schwab during the first quarter worth $33,000. Murphy & Mullick Capital Management Corp purchased a new stake in shares of Charles Schwab during the fourth quarter worth $38,000. Atala Financial Inc purchased a new stake in shares of Charles Schwab during the fourth quarter worth $41,000. Finally, Investors Research Corp increased its position in shares of Charles Schwab by 75.2% during the first quarter. Investors Research Corp now owns 559 shares of the financial services provider's stock worth $44,000 after acquiring an additional 240 shares during the period. Hedge funds and other institutional investors own 84.38% of the company's stock.

Analyst Ratings Changes

SCHW has been the topic of several recent analyst reports. Wells Fargo & Company dropped their target price on Charles Schwab from $93.00 to $87.00 and set an "overweight" rating on the stock in a report on Tuesday, April 8th. Cowen reissued a "buy" rating on shares of Charles Schwab in a report on Tuesday, May 20th. Redburn Atlantic raised Charles Schwab from a "sell" rating to a "neutral" rating and increased their target price for the company from $65.00 to $82.00 in a report on Monday, June 9th. Morgan Stanley increased their target price on Charles Schwab from $76.00 to $83.00 and gave the company an "overweight" rating in a report on Tuesday, May 13th. Finally, JPMorgan Chase & Co. increased their target price on Charles Schwab from $92.00 to $95.00 and gave the company an "overweight" rating in a report on Monday, April 21st. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $89.25.

Insider Activity at Charles Schwab

In other news, Director Frank C. Herringer sold 3,592 shares of the business's stock in a transaction dated Monday, April 21st. The shares were sold at an average price of $74.26, for a total transaction of $266,741.92. Following the transaction, the director now owns 172,162 shares in the company, valued at approximately $12,784,750.12. The trade was a 2.04% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Jonathan M. Craig sold 47,500 shares of the business's stock in a transaction dated Wednesday, May 21st. The stock was sold at an average price of $88.46, for a total transaction of $4,201,850.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 97,608 shares of company stock valued at $8,392,040. Insiders own 6.30% of the company's stock.

Charles Schwab Trading Down 1.4%

Charles Schwab stock traded down $1.24 during midday trading on Friday, reaching $87.26. The stock had a trading volume of 8,938,909 shares, compared to its average volume of 9,430,908. The firm's fifty day simple moving average is $83.30 and its two-hundred day simple moving average is $79.85. The Charles Schwab Co. has a twelve month low of $61.01 and a twelve month high of $89.85. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.47 and a quick ratio of 0.47. The firm has a market cap of $158.55 billion, a price-to-earnings ratio of 29.18, a PEG ratio of 0.99 and a beta of 0.94.

Charles Schwab (NYSE:SCHW - Get Free Report) last issued its earnings results on Thursday, April 17th. The financial services provider reported $1.04 earnings per share (EPS) 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 net margin of 30.31% and a return on equity of 18.20%. During the same quarter last year, the business posted $0.74 EPS. Equities analysts anticipate that The Charles Schwab Co. will post 4.22 EPS for the current fiscal year.

Charles Schwab Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 23rd. Investors of record on Friday, May 9th were paid a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 1.24%. The ex-dividend date was Friday, May 9th. Charles Schwab's payout ratio is presently 32.73%.

Charles Schwab 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.