Central Pacific Bank Trust Division Lowers Position in The Charles Schwab Co. (NYSE:SCHW)

Central Pacific Bank Trust Division trimmed its stake in shares of The Charles Schwab Co. (NYSE:SCHW - Free Report) by 7.7% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 71,002 shares of the financial services provider's stock after selling 5,942 shares during the period. Charles Schwab comprises about 0.8% of Central Pacific Bank Trust Division's portfolio, making the stock its 23rd largest position. Central Pacific Bank Trust Division's holdings in Charles Schwab were worth $5,558,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Oregon Pacific Wealth Management LLC acquired a new stake in Charles Schwab during the 4th quarter worth about $688,000. Cary Street Partners Financial LLC purchased a new position in shares of Charles Schwab during the 4th quarter valued at $1,455,000. Golden State Equity Partners grew its position in Charles Schwab by 293.9% in the fourth quarter. Golden State Equity Partners now owns 12,207 shares of the financial services provider's stock worth $903,000 after acquiring an additional 9,108 shares in the last quarter. Asset Management One Co. Ltd. grew its position in Charles Schwab by 7.3% in the fourth 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. Finally, Banco Santander S.A. boosted its position in 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 buying an additional 5,413 shares during the period. Institutional investors own 84.38% of the company's stock.

Insider Transactions at Charles Schwab

In other news, insider Jonathan S. Beatty sold 2,850 shares of Charles Schwab stock in a transaction on 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 in the company, valued at approximately $1,332,727.83. The trade was a 15.77% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Paul V. Woolway sold 8,614 shares of the business'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 sale, the insider now directly owns 49,204 shares of the company's stock, valued at approximately $3,936,320. The trade was a 14.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 104,205 shares of company stock worth $8,848,855. Company insiders own 6.30% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on SCHW. JPMorgan Chase & Co. raised their target price on shares of Charles Schwab from $92.00 to $95.00 and gave the stock an "overweight" rating in a report on Monday, April 21st. Truist Financial increased their price objective on shares of Charles Schwab from $84.00 to $97.00 and gave the stock a "buy" rating in a research note on Thursday, May 15th. Piper Sandler increased their price objective on shares of Charles Schwab from $74.00 to $80.00 in a report on Thursday, April 17th. TD Securities raised their price objective on shares of Charles Schwab from $95.00 to $113.00 and gave the company a "buy" rating in a report on Tuesday, May 20th. Finally, UBS Group lifted their target price on shares of Charles Schwab from $95.00 to $96.00 and gave the company a "buy" rating in a report on Tuesday, April 22nd. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $89.63.

Charles Schwab Stock Down 0.0%

SCHW stock traded down $0.03 during trading on Tuesday, hitting $88.08. 1,930,974 shares of the company's stock were exchanged, compared to its average volume of 9,359,618. The stock has a market capitalization of $160.04 billion, a price-to-earnings ratio of 29.46, a PEG ratio of 0.99 and a beta of 0.90. 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 business has a 50-day moving average price of $80.99 and a two-hundred day moving average price of $79.43. The Charles Schwab Co. has a 52-week low of $61.01 and a 52-week high of $89.85.

Charles Schwab (NYSE:SCHW - Get Free Report) last announced its quarterly earnings results on Thursday, April 17th. The financial services provider reported $1.04 EPS for the quarter, topping the consensus estimate 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 in the prior year, the firm posted $0.74 earnings per share. As a group, equities research analysts expect that The Charles Schwab Co. will post 4.22 EPS for the current year.

Charles Schwab Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 23rd. Shareholders of record on Friday, May 9th were issued a dividend of $0.27 per share. The ex-dividend date of this dividend was Friday, May 9th. This represents a $1.08 annualized dividend and a yield of 1.23%. Charles Schwab's dividend payout ratio (DPR) is currently 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.