Intrust Bank NA Reduces Stock Holdings in The Charles Schwab Co. (NYSE:SCHW)

Intrust Bank NA cut its holdings in The Charles Schwab Co. (NYSE:SCHW) by 3.9% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 7,434 shares of the financial services provider’s stock after selling 300 shares during the quarter. Intrust Bank NA’s holdings in Charles Schwab were worth $550,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Merit Financial Group LLC raised its stake in Charles Schwab by 230.1% in the 4th quarter. Merit Financial Group LLC now owns 33,546 shares of the financial services provider’s stock worth $2,483,000 after acquiring an additional 23,383 shares during the last quarter. Benjamin Edwards Inc. raised its stake in shares of Charles Schwab by 2,840.7% in the third quarter. Benjamin Edwards Inc. now owns 6,146 shares of the financial services provider’s stock worth $398,000 after purchasing an additional 5,937 shares during the last quarter. Synovus Financial Corp lifted its holdings in shares of 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 purchasing an additional 21,377 shares during the period. Oregon Pacific Wealth Management LLC acquired a new position in Charles Schwab in the 4th quarter worth approximately $688,000. Finally, Golden State Equity Partners raised its position in Charles Schwab by 293.9% during the 4th quarter. Golden State Equity Partners now owns 12,207 shares of the financial services provider’s stock worth $903,000 after buying an additional 9,108 shares during the last quarter. Hedge funds and other institutional investors own 84.38% of the company’s stock.

Charles Schwab Trading Down 2.3 %

SCHW stock opened at $77.79 on Friday. The Charles Schwab Co. has a 12-month low of $61.01 and a 12-month high of $84.50. The business’s 50-day moving average is $79.55 and its 200 day moving average is $75.36. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 0.59. The stock has a market cap of $141.08 billion, a price-to-earnings ratio of 26.02, a PEG ratio of 0.99 and a beta of 0.98.

Charles Schwab (NYSE:SCHW) last issued its quarterly earnings results on Tuesday, January 21st. The financial services provider reported $1.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.90 by $0.11. Charles Schwab had a return on equity of 18.20% and a net margin of 30.31%. The firm had revenue of $5.33 billion for the quarter, compared to analyst estimates of $5.19 billion. The business’s revenue was up 19.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.68 earnings per share. On average, sell-side analysts anticipate that The Charles Schwab Co. will post 4.22 EPS for the current fiscal year.

Charles Schwab Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 14th were paid a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 1.39%. This is a positive change from Charles Schwab’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Friday, February 14th. Charles Schwab’s dividend payout ratio (DPR) is 36.12%.

Insider Activity

In other news, General Counsel Peter J. Morgan III sold 14,643 shares of the company’s stock in a transaction that occurred on Wednesday, January 22nd. The shares were sold at an average price of $80.70, for a total value of $1,181,690.10. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Paul V. Woolway sold 3,380 shares of the stock in a transaction that occurred on Monday, March 3rd. The stock was 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 $4,586,123.76. The trade was a 5.52 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 509,701 shares of company stock valued at $41,641,353. 6.60% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several analysts have recently commented on SCHW shares. Keefe, Bruyette & Woods upped their price objective on shares of Charles Schwab from $81.00 to $93.00 and gave the company an “outperform” rating in a report on Friday, December 20th. Piper Sandler upped their price target on shares of Charles Schwab from $65.00 to $70.00 and gave the company a “neutral” rating in a report on Tuesday, January 7th. Wells Fargo & Company upgraded Charles Schwab from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $89.00 to $93.00 in a research note on Wednesday, January 22nd. UBS Group upped their target price on Charles Schwab from $90.00 to $95.00 and gave the stock a “buy” rating in a research note on Monday, January 27th. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on Charles Schwab from $98.00 to $105.00 and gave the company a “buy” rating in a research report on Wednesday, January 22nd. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $86.33.

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.