Leisure Capital Management lessened its holdings in shares of The Charles Schwab Co. (NYSE:SCHW) by 3.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,141 shares of the financial services provider’s stock after selling 690 shares during the period. Leisure Capital Management’s holdings in The Charles Schwab were worth $766,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Mercer Global Advisors Inc. ADV lifted its stake in The Charles Schwab by 33.5% in the 1st quarter. Mercer Global Advisors Inc. ADV now owns 31,693 shares of the financial services provider’s stock valued at $1,066,000 after acquiring an additional 7,961 shares in the last quarter. Ironwood Investment Counsel LLC lifted its stake in The Charles Schwab by 15.3% in the 2nd quarter. Ironwood Investment Counsel LLC now owns 135,214 shares of the financial services provider’s stock valued at $4,562,000 after acquiring an additional 17,943 shares in the last quarter. Brinker Capital Inc. lifted its stake in The Charles Schwab by 13.8% in the 2nd quarter. Brinker Capital Inc. now owns 65,501 shares of the financial services provider’s stock valued at $2,210,000 after acquiring an additional 7,964 shares in the last quarter. Louisiana State Employees Retirement System lifted its stake in The Charles Schwab by 1.4% in the 2nd quarter. Louisiana State Employees Retirement System now owns 49,300 shares of the financial services provider’s stock valued at $1,663,000 after acquiring an additional 700 shares in the last quarter. Finally, Pinnacle Bank lifted its stake in The Charles Schwab by 23.1% in the 3rd quarter. Pinnacle Bank now owns 2,422 shares of the financial services provider’s stock valued at $88,000 after acquiring an additional 455 shares in the last quarter. Hedge funds and other institutional investors own 85.31% of the company’s stock.
A number of equities research analysts have recently issued reports on the company. Argus upped their price objective on The Charles Schwab from $42.00 to $50.00 in a research note on Friday, October 16th. Bank of America upped their price objective on The Charles Schwab from $40.00 to $42.00 and gave the stock a “neutral” rating in a research note on Friday, October 16th. Citigroup upped their price objective on The Charles Schwab from $38.00 to $38.50 and gave the stock a “neutral” rating in a research note on Wednesday, July 22nd. Wells Fargo & Company upped their price objective on The Charles Schwab from $34.00 to $35.00 and gave the stock an “equal weight” rating in a research note on Friday, July 10th. Finally, TheStreet upgraded The Charles Schwab from a “c” rating to a “b-” rating in a research note on Thursday, October 8th. Eleven investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The Charles Schwab has a consensus rating of “Hold” and a consensus price target of $43.00.
Shares of SCHW stock traded down $1.66 during trading on Monday, reaching $38.69. 382,957 shares of the company’s stock were exchanged, compared to its average volume of 11,895,839. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.33. The stock has a market capitalization of $52.00 billion, a PE ratio of 18.68 and a beta of 1.13. The Charles Schwab Co. has a twelve month low of $28.00 and a twelve month high of $51.65. The firm’s fifty day moving average price is $36.69 and its 200-day moving average price is $35.62.
The Charles Schwab (NYSE:SCHW) last issued its quarterly earnings data on Thursday, October 15th. The financial services provider reported $0.48 EPS for the quarter, beating analysts’ consensus estimates of $0.47 by $0.01. The Charles Schwab had a return on equity of 14.02% and a net margin of 29.80%. The firm had revenue of $2.45 billion for the quarter, compared to analyst estimates of $2.43 billion. During the same period in the prior year, the firm posted $0.70 EPS. The company’s revenue for the quarter was down 9.7% on a year-over-year basis. As a group, analysts anticipate that The Charles Schwab Co. will post 2.17 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 27th. Shareholders of record on Friday, November 13th will be issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 1.86%. The ex-dividend date of this dividend is Thursday, November 12th. The Charles Schwab’s dividend payout ratio is 26.47%.
The Charles Schwab Company Profile
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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