The Charles Schwab Corporation $SCHW Stock Purchased by First Citizens Bank & Trust Co.

Key Points

• First Citizens Bank & Trust Co. more than doubled its Charles Schwab stake in the third quarter, acquiring 17,068 additional shares and bringing its holdings to 33,750 shares valued at approximately $3.3 million.
• Analyst sentiment remains favorable but mixed: Charles Schwab has a consensus “Moderate Buy” rating and an average price target of $119, while recent targets ranged from $100 to $107.
• Charles Schwab reported quarterly earnings and revenue above expectations, with EPS of $1.62 and revenue of $7.07 billion; it also maintains a quarterly dividend of $0.32 per share. Meanwhile, insiders sold more than 645,000 shares over the past three months.

First Citizens Bank & Trust Co. raised its stake in The Charles Schwab Corporation (NYSE:SCHW - Free Report) by 102.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 33,750 shares of the financial services provider's stock after acquiring an additional 17,068 shares during the quarter. First Citizens Bank & Trust Co.'s holdings in Charles Schwab were worth $3,299,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Compass Financial Management LLC acquired a new position in shares of Charles Schwab in the 2nd quarter valued at approximately $27,000. Scarborough Advisors LLC acquired a new stake in Charles Schwab during the 1st quarter worth approximately $29,000. Main Street Group LTD acquired a new stake in Charles Schwab during the 1st quarter worth approximately $33,000. J.Safra Asset Management Corp bought a new position in Charles Schwab in the second quarter valued at approximately $39,000. Finally, Washington Trust Advisors Inc. boosted its holdings in shares of Charles Schwab by 118.0% in the second quarter. Washington Trust Advisors Inc. now owns 447 shares of the financial services provider's stock valued at $41,000 after buying an additional 242 shares during the period. Institutional investors and hedge funds own 84.38% of the company's stock.

Analysts Set New Price Targets

A number of research firms have recently commented on SCHW. Evercore started coverage on shares of Charles Schwab in a research note on Monday. They set an "in-line" rating and a $107.00 price objective for the company. Piper Sandler lowered their price target on Charles Schwab from $118.00 to $100.00 and set a "neutral" rating on the stock in a research report on Friday, October 2nd. Deutsche Bank Aktiengesellschaft restated a "buy" rating on shares of Charles Schwab in a report on Wednesday, July 22nd. Citigroup reaffirmed a "market outperform" rating on shares of Charles Schwab in a research report on Wednesday, July 22nd. Finally, Wells Fargo & Company started coverage on shares of Charles Schwab in a research report on Friday, October 2nd. They issued an "equal weight" rating and a $105.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $119.00.

Trending Headlines about Charles Schwab

Here are the key news stories impacting Charles Schwab this week:

• Positive Sentiment: Expectations for an earnings beat and continued strength in asset gathering are the primary positive catalysts. Several reports describe the upcoming results as a potential trigger for further gains, while Erste Group raised its 2027 EPS forecast to $7.96 from $7.85. Charles Schwab's Next Earnings Report Could Send the Stock Soaring
• Positive Sentiment: Deutsche Bank increased its price target to $130 from $125, indicating continued confidence in SCHW’s upside potential. Truist also maintained a Buy rating despite lowering its target to $125. Deutsche Bank Adjusts Price Target on Charles Schwab
• Neutral Sentiment: Options markets are pricing in a potentially large earnings-related move, signaling elevated volatility but not a specific direction for SCHW. Charles Schwab Could Swing After Earnings
• Neutral Sentiment: Evercore ISI initiated coverage with an In-Line rating, providing a balanced view that tempers some of the bullish earnings enthusiasm. Evercore ISI Initiates Coverage of Charles Schwab
• Negative Sentiment: Truist’s price-target reduction highlights valuation or near-term execution concerns, although the retained Buy rating limits the negative impact. Truist Charles Schwab Price Target Update

Insider Buying and Selling

In related news, General Counsel Peter Morgan, III sold 6,952 shares of the stock in a transaction on Thursday, July 23rd. The shares were sold at an average price of $102.03, for a total transaction of $709,312.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Walter Bettinger sold 192,488 shares of Charles Schwab stock in a transaction dated Monday, July 27th. The stock was sold at an average price of $103.90, for a total transaction of $19,999,503.20. Following the completion of the sale, the chairman owned 529,346 shares of the company's stock, valued at $54,999,049.40. This trade represents a 26.67% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 645,582 shares of company stock valued at $69,553,935. 6.30% of the stock is owned by corporate insiders.

Charles Schwab Price Performance

Charles Schwab stock opened at $96.97 on Thursday. The stock's 50 day moving average is $105.07 and its 200 day moving average is $98.18. The Charles Schwab Corporation has a one year low of $83.96 and a one year high of $114.53. The firm has a market cap of $167.69 billion, a P/E ratio of 17.63, a P/E/G ratio of 0.81 and a beta of 0.79. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.64 and a quick ratio of 0.64.

Charles Schwab (NYSE:SCHW - Get Free Report) last announced its quarterly earnings data on Tuesday, July 21st. The financial services provider reported $1.62 earnings per share for the quarter, beating the consensus estimate of $1.56 by $0.06. Charles Schwab had a net margin of 38.79% and a return on equity of 24.53%. The firm had revenue of $7.07 billion for the quarter, compared to analyst estimates of $6.90 billion. During the same quarter in the prior year, the business earned $1.14 earnings per share. The business's quarterly revenue was up 20.9% compared to the same quarter last year. As a group, research analysts expect that The Charles Schwab Corporation will post 6.46 EPS for the current year.

Charles Schwab Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 28th. Shareholders of record on Friday, August 14th were paid a $0.32 dividend. The ex-dividend date of this dividend was Friday, August 14th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.3%. Charles Schwab's payout ratio is currently 23.27%.

Charles Schwab Company Profile

Charles Schwab Corporation NYSE: SCHW is a financial services company that provides brokerage, investment, banking and wealth management services to individual investors, employers, institutions and independent investment advisors. Its offerings include online and mobile trading, securities brokerage, retirement accounts, financial planning, portfolio management, banking products, research and access to mutual funds and exchange-traded funds.

The company operates through businesses including Schwab Brokerage, Schwab Wealth Advisory, Schwab Asset Management and Charles Schwab Bank.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.