Basswood Capital Management L.L.C. Has $22.68 Million Holdings in The Charles Schwab Co. (NYSE:SCHW)

Basswood Capital Management L.L.C. raised its stake in The Charles Schwab Co. (NYSE:SCHW - Free Report) by 109.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 306,411 shares of the financial services provider's stock after purchasing an additional 159,944 shares during the quarter. Charles Schwab comprises about 1.3% of Basswood Capital Management L.L.C.'s investment portfolio, making the stock its 24th biggest position. Basswood Capital Management L.L.C.'s holdings in Charles Schwab were worth $22,677,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently modified their holdings of the company. Norges Bank acquired a new position in shares of Charles Schwab in the fourth quarter worth about $1,289,544,000. Kovitz Investment Group Partners LLC raised its position in shares of Charles Schwab by 354.5% in the 4th quarter. Kovitz Investment Group Partners LLC now owns 11,005,881 shares of the financial services provider's stock valued at $814,545,000 after purchasing an additional 8,584,173 shares in the last quarter. FMR LLC raised its position in shares of Charles Schwab by 69.4% in the 4th quarter. FMR LLC now owns 9,700,013 shares of the financial services provider's stock valued at $717,898,000 after purchasing an additional 3,974,940 shares in the last quarter. Marshall Wace LLP grew its position in shares of Charles Schwab by 742.0% during the fourth quarter. Marshall Wace LLP now owns 4,181,202 shares of the financial services provider's stock worth $309,451,000 after buying an additional 3,684,640 shares in the last quarter. Finally, Primecap Management Co. CA raised its holdings in Charles Schwab by 310.3% in the fourth quarter. Primecap Management Co. CA now owns 4,252,350 shares of the financial services provider's stock valued at $314,716,000 after acquiring an additional 3,216,000 shares in the last quarter. Institutional investors and hedge funds own 84.38% of the company's stock.

Analysts Set New Price Targets

SCHW has been the subject of several recent analyst reports. The Goldman Sachs Group raised shares of Charles Schwab from a "neutral" rating to a "buy" rating and set a $100.00 price objective for the company in a report on Friday, April 25th. JMP Securities reissued a "market outperform" rating and issued a $94.00 price objective on shares of Charles Schwab in a report on Monday, April 21st. Truist Financial reduced their target price on Charles Schwab from $85.00 to $84.00 and set a "buy" rating on the stock in a report on Monday, April 21st. Keefe, Bruyette & Woods boosted their price target on Charles Schwab from $90.00 to $93.00 and gave the company an "outperform" rating in a report on Tuesday, April 22nd. Finally, Wells Fargo & Company reduced their price objective on Charles Schwab from $93.00 to $87.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 8th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $87.22.

Insider Buying and Selling at Charles Schwab

In related news, Chairman Walter W. Bettinger sold 464,629 shares of the stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $81.91, for a total value of $38,057,761.39. Following the completion of the sale, the chairman now directly owns 827,377 shares of the company's stock, valued at approximately $67,770,450.07. This represents a 35.96 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jonathan M. Craig sold 9,559 shares of Charles Schwab stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $82.00, for a total value of $783,838.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 503,041 shares of company stock valued at $41,072,558. 6.30% of the stock is currently owned by corporate insiders.

Charles Schwab Price Performance

Charles Schwab stock traded up $1.17 during midday trading on Wednesday, hitting $84.00. The company's stock had a trading volume of 9,393,654 shares, compared to its average volume of 9,383,160. The Charles Schwab Co. has a 12 month low of $61.01 and a 12 month high of $84.50. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 0.59. The stock's 50-day moving average price is $77.08 and its 200-day moving average price is $77.61. The company has a market capitalization of $152.35 billion, a PE ratio of 28.09, a price-to-earnings-growth ratio of 0.99 and a beta of 0.90.

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 for the quarter, topping analysts' consensus estimates of $1.01 by $0.03. The firm had revenue of $5.60 billion during the quarter, compared to analysts' expectations of $5.46 billion. Charles Schwab had a net margin of 30.31% and a return on equity of 18.20%. During the same period last year, the firm posted $0.74 earnings per share. Analysts anticipate that The Charles Schwab Co. will post 4.22 earnings per share for the current fiscal year.

Charles Schwab Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 23rd. Shareholders of record on Friday, May 9th will be issued a dividend of $0.27 per share. The ex-dividend date of this dividend is Friday, May 9th. This represents a $1.08 annualized dividend and a yield of 1.29%. 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.