The Charles Schwab Co. (NYSE:SCHW) Stock Holdings Cut by Comerica Bank

Comerica Bank cut its position in shares of The Charles Schwab Co. (NYSE:SCHW - Free Report) by 4.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 313,822 shares of the financial services provider's stock after selling 14,174 shares during the quarter. Comerica Bank's holdings in Charles Schwab were worth $23,226,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Merit Financial Group LLC lifted its stake in shares of Charles Schwab by 230.1% during the 4th quarter. Merit Financial Group LLC now owns 33,546 shares of the financial services provider's stock worth $2,483,000 after purchasing an additional 23,383 shares during the period. Synovus Financial Corp lifted its position in Charles Schwab by 46.0% during the third quarter. Synovus Financial Corp now owns 67,889 shares of the financial services provider's stock worth $4,400,000 after buying an additional 21,377 shares during the period. Oregon Pacific Wealth Management LLC acquired a new stake in Charles Schwab in the 4th quarter worth about $688,000. Golden State Equity Partners grew its holdings in Charles Schwab by 293.9% in the 4th quarter. Golden State Equity Partners now owns 12,207 shares of the financial services provider's stock valued at $903,000 after buying an additional 9,108 shares during the period. Finally, Asset Management One Co. Ltd. increased its stake in shares of Charles Schwab by 7.3% during the 4th quarter. Asset Management One Co. Ltd. now owns 637,957 shares of the financial services provider's stock valued at $47,674,000 after acquiring an additional 43,308 shares during the last quarter. Institutional investors and hedge funds own 84.38% of the company's stock.

Charles Schwab Stock Up 2.0 %

NYSE SCHW traded up $1.59 during trading hours on Friday, reaching $83.10. 9,348,126 shares of the company traded hands, compared to its average volume of 9,388,056. The company has a 50 day moving average of $76.90 and a two-hundred day moving average of $77.45. The stock has a market capitalization of $150.71 billion, a PE ratio of 27.79, a PEG ratio of 0.99 and a beta of 0.90. The Charles Schwab Co. has a 12 month low of $61.01 and a 12 month high of $84.50. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 0.59.

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

Charles Schwab Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 23rd. Investors of record on Friday, May 9th will be given a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 1.30%. The ex-dividend date of this dividend is Friday, May 9th. Charles Schwab's dividend payout ratio is currently 32.73%.

Wall Street Analyst Weigh In

SCHW has been the subject of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Charles Schwab from $98.00 to $105.00 and gave the company a "buy" rating in a report on Wednesday, January 22nd. TD Cowen raised Charles Schwab from a "hold" rating to a "buy" rating and increased their target price for the stock from $88.00 to $103.00 in a research report on Tuesday, February 18th. Morgan Stanley raised Charles Schwab from an "equal weight" rating to an "overweight" rating and set a $76.00 price target for the company in a research report on Tuesday, April 8th. Truist Financial reduced their price objective on Charles Schwab from $85.00 to $84.00 and set a "buy" rating on the stock in a research note on Monday, April 21st. Finally, The Goldman Sachs Group raised shares of Charles Schwab from a "neutral" rating to a "buy" rating and set a $100.00 target price for the company in a research report on Friday, April 25th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Charles Schwab has an average rating of "Moderate Buy" and an average target price of $87.22.

Insider Buying and Selling

In related news, Chairman Walter W. Bettinger sold 464,629 shares of the company's stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $81.91, for a total transaction of $38,057,761.39. Following the completion of the transaction, the chairman now directly owns 827,377 shares in the company, valued at $67,770,450.07. This represents a 35.96 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Paul V. Woolway sold 3,380 shares of the business's stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $79.32, for a total transaction of $268,101.60. Following the transaction, the insider now directly owns 57,818 shares of the company's stock, valued at approximately $4,586,123.76. This trade represents a 5.52 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 503,041 shares of company stock worth $41,072,558 over the last ninety days. 6.30% of the stock is owned by insiders.

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.