Cullen Frost Bankers Inc. Sells 25,283 Shares of Charles Schwab Co. (NYSE:SCHW)

Cullen Frost Bankers Inc. cut its holdings in Charles Schwab Co. (NYSE:SCHW) by 38.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 41,170 shares of the financial services provider’s stock after selling 25,283 shares during the quarter. Cullen Frost Bankers Inc.’s holdings in Charles Schwab were worth $1,958,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. State of Tennessee Treasury Department boosted its position in Charles Schwab by 22.1% during the 4th quarter. State of Tennessee Treasury Department now owns 567,643 shares of the financial services provider’s stock valued at $26,997,000 after acquiring an additional 102,808 shares in the last quarter. Rational Advisors LLC boosted its position in Charles Schwab by 101.6% during the 4th quarter. Rational Advisors LLC now owns 6,363 shares of the financial services provider’s stock valued at $303,000 after acquiring an additional 3,206 shares in the last quarter. Makena Capital Management LLC bought a new stake in Charles Schwab during the 4th quarter valued at approximately $3,255,000. Palladium Partners LLC boosted its position in Charles Schwab by 36.2% during the 4th quarter. Palladium Partners LLC now owns 157,097 shares of the financial services provider’s stock valued at $7,472,000 after acquiring an additional 41,717 shares in the last quarter. Finally, North Star Asset Management Inc. boosted its position in Charles Schwab by 0.9% during the 4th quarter. North Star Asset Management Inc. now owns 326,529 shares of the financial services provider’s stock valued at $15,530,000 after acquiring an additional 2,900 shares in the last quarter. 78.69% of the stock is currently owned by institutional investors.

In related news, EVP Bernard J. Clark sold 28,078 shares of the business’s stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $51.00, for a total value of $1,431,978.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Arun Sarin sold 15,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $49.11, for a total transaction of $736,650.00. Following the completion of the transaction, the director now owns 3,771 shares of the company’s stock, valued at $185,193.81. The disclosure for this sale can be found here. Insiders have sold 927,326 shares of company stock valued at $44,114,979 over the last quarter. Company insiders own 10.90% of the company’s stock.

Several analysts have weighed in on the company. Raymond James cut Charles Schwab from an “outperform” rating to a “market perform” rating in a research report on Tuesday, November 5th. They noted that the move was a valuation call. Citigroup lifted their price objective on Charles Schwab from $51.00 to $52.00 and gave the company a “neutral” rating in a research report on Friday, January 17th. Wells Fargo & Co reaffirmed a “hold” rating on shares of Charles Schwab in a research report on Tuesday, November 26th. Barclays raised Charles Schwab from an “underweight” rating to an “equal weight” rating and lifted their price objective for the company from $35.00 to $49.00 in a research report on Wednesday, November 27th. Finally, Deutsche Bank began coverage on shares of Charles Schwab in a report on Tuesday, January 28th. They set a “buy” rating for the company. Eight equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $49.73.

SCHW stock opened at $47.23 on Friday. The firm has a 50 day moving average price of $47.50 and a 200-day moving average price of $43.52. Charles Schwab Co. has a 52-week low of $34.58 and a 52-week high of $51.65. The firm has a market capitalization of $60.64 billion, a price-to-earnings ratio of 17.39, a PEG ratio of 2.68 and a beta of 1.34. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.30 and a current ratio of 0.30.

Charles Schwab (NYSE:SCHW) last released its earnings results on Thursday, January 16th. The financial services provider reported $0.63 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.62 by $0.01. Charles Schwab had a net margin of 34.55% and a return on equity of 20.22%. The firm had revenue of $2.61 billion during the quarter, compared to analyst estimates of $2.60 billion. During the same period last year, the business earned $0.65 earnings per share. The business’s revenue was down 3.4% on a year-over-year basis. As a group, sell-side analysts forecast that Charles Schwab Co. will post 2.61 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, February 14th will be issued a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 1.52%. This is a positive change from Charles Schwab’s previous quarterly dividend of $0.17. The ex-dividend date of this dividend is Thursday, February 13th. Charles Schwab’s dividend payout ratio (DPR) is presently 26.47%.

About Charles Schwab

The Charles Schwab Corporation, through its subsidiaries, provides wealth management, securities brokerage, banking, asset management, custody, and financial advisory services. The company operates through two segments, Investor Services and Advisor Services. The Investor Services segment provides retail brokerage and banking services, retirement plan services, and other corporate brokerage services; equity compensation plan sponsors full-service recordkeeping for stock plans, stock options, restricted stock, performance shares, and stock appreciation rights; and retail investor, retirement plan, and mutual fund clearing services.

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Institutional Ownership by Quarter for Charles Schwab (NYSE:SCHW)

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