OLD National Bancorp IN Raises Stock Holdings in The Charles Schwab Co. (NYSE:SCHW)

OLD National Bancorp IN boosted its position in The Charles Schwab Co. (NYSE:SCHW) by 6.0% during the fourth quarter, Holdings Channel reports. The fund owned 13,203 shares of the financial services provider’s stock after acquiring an additional 749 shares during the period. OLD National Bancorp IN’s holdings in Charles Schwab were worth $977,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of SCHW. Washington Trust Advisors Inc. raised its position in Charles Schwab by 62.6% in the 3rd quarter. Washington Trust Advisors Inc. now owns 387 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 149 shares during the period. Capital Performance Advisors LLP bought a new position in Charles Schwab during the 3rd quarter valued at approximately $25,000. Prospera Private Wealth LLC purchased a new stake in Charles Schwab in the third quarter worth $31,000. Future Financial Wealth Managment LLC bought a new stake in shares of Charles Schwab during the 3rd quarter valued at about $32,000. Finally, Hazlett Burt & Watson Inc. bought a new stake in Charles Schwab during the 3rd quarter valued at approximately $33,000. 84.38% of the stock is currently owned by institutional investors.

Charles Schwab Trading Down 1.0 %

Shares of Charles Schwab stock opened at $82.73 on Friday. The business has a 50-day moving average price of $77.94 and a 200-day moving average price of $71.08. The Charles Schwab Co. has a twelve month low of $61.01 and a twelve month high of $83.84. The firm has a market cap of $147.22 billion, a price-to-earnings ratio of 27.67, a PEG ratio of 1.00 and a beta of 0.99. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 0.59.

Charles Schwab (NYSE:SCHW) last issued its quarterly earnings data on Tuesday, January 21st. The financial services provider reported $1.01 EPS for the quarter, topping analysts’ consensus estimates of $0.90 by $0.11. Charles Schwab had a net margin of 30.31% and a return on equity of 18.20%. The business had revenue of $5.33 billion during the quarter, compared to analysts’ expectations of $5.19 billion. During the same period last year, the company posted $0.68 EPS. The business’s revenue was up 19.5% on a year-over-year basis. Equities research analysts anticipate that The Charles Schwab Co. will post 4.18 EPS for the current fiscal year.

Charles Schwab Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, February 14th will be paid a $0.27 dividend. The ex-dividend date is Friday, February 14th. This represents a $1.08 annualized dividend and a dividend yield of 1.31%. This is an increase from Charles Schwab’s previous quarterly dividend of $0.25. Charles Schwab’s dividend payout ratio is currently 33.44%.

Insiders Place Their Bets

In related news, insider Jonathan S. Beatty sold 2,300 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $82.01, for a total value of $188,623.00. Following the completion of the sale, the insider now owns 18,069 shares in the company, valued at approximately $1,481,838.69. The trade was a 11.29 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Christopher V. Dodds sold 9,284 shares of the firm’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $81.43, for a total value of $755,996.12. Following the transaction, the director now owns 442,807 shares in the company, valued at approximately $36,057,774.01. This represents a 2.05 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 50,014 shares of company stock valued at $4,052,281 over the last 90 days. Insiders own 6.60% of the company’s stock.

Analyst Ratings Changes

SCHW has been the topic of a number of recent research reports. The Goldman Sachs Group upped their target price on shares of Charles Schwab from $67.00 to $74.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 16th. Bank of America lowered their price target on Charles Schwab from $63.00 to $61.00 and set an “underperform” rating on the stock in a report on Wednesday, October 16th. JMP Securities restated a “market outperform” rating and issued a $94.00 target price (up previously from $84.00) on shares of Charles Schwab in a report on Monday, December 9th. Citigroup boosted their price target on Charles Schwab from $80.00 to $85.00 and gave the company a “neutral” rating in a research note on Wednesday, January 22nd. Finally, Piper Sandler upped their price objective on Charles Schwab from $65.00 to $70.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 7th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $84.11.

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.