Charles Schwab Co. (SCHW) Holdings Cut by FineMark National Bank & Trust

FineMark National Bank & Trust lowered its holdings in shares of Charles Schwab Co. (NYSE:SCHW) by 58.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,032 shares of the financial services provider’s stock after selling 8,401 shares during the quarter. FineMark National Bank & Trust’s holdings in Charles Schwab were worth $296,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. WINTON GROUP Ltd raised its holdings in shares of Charles Schwab by 13.1% during the third quarter. WINTON GROUP Ltd now owns 10,031 shares of the financial services provider’s stock valued at $493,000 after acquiring an additional 1,159 shares during the last quarter. American Century Companies Inc. raised its holdings in shares of Charles Schwab by 0.3% during the third quarter. American Century Companies Inc. now owns 2,262,539 shares of the financial services provider’s stock valued at $111,204,000 after acquiring an additional 7,034 shares during the last quarter. Bank of The West raised its holdings in shares of Charles Schwab by 26.4% during the third quarter. Bank of The West now owns 68,115 shares of the financial services provider’s stock valued at $3,348,000 after acquiring an additional 14,239 shares during the last quarter. Chicago Capital LLC raised its holdings in shares of Charles Schwab by 13.9% during the third quarter. Chicago Capital LLC now owns 577,781 shares of the financial services provider’s stock valued at $28,398,000 after acquiring an additional 70,530 shares during the last quarter. Finally, Gator Capital Management LLC acquired a new stake in shares of Charles Schwab in the third quarter valued at approximately $258,000. Institutional investors own 80.44% of the company’s stock.

In other Charles Schwab news, insider Marie A. Chandoha sold 12,400 shares of the firm’s stock in a transaction on Monday, November 5th. The stock was sold at an average price of $47.18, for a total transaction of $585,032.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Christopher V. Dodds sold 15,718 shares of the firm’s stock in a transaction on Thursday, August 16th. The stock was sold at an average price of $51.14, for a total value of $803,818.52. Following the sale, the director now directly owns 7,592 shares of the company’s stock, valued at approximately $388,254.88. The disclosure for this sale can be found here. In the last three months, insiders have sold 39,171 shares of company stock valued at $1,921,687. 11.50% of the stock is owned by insiders.

Several research firms recently commented on SCHW. Morgan Stanley increased their price target on Charles Schwab from $63.00 to $65.00 and gave the company an “overweight” rating in a report on Wednesday, July 25th. Zacks Investment Research raised Charles Schwab from a “hold” rating to a “buy” rating and set a $55.00 price target for the company in a report on Wednesday, October 3rd. Wells Fargo & Co increased their price target on Charles Schwab from $54.00 to $56.00 and gave the company a “$54.22” rating in a report on Wednesday, July 18th. Credit Suisse Group cut their price target on Charles Schwab from $56.00 to $53.00 and set an “outperform” rating for the company in a report on Friday, October 26th. Finally, Wolfe Research began coverage on Charles Schwab in a report on Tuesday, September 25th. They issued an “underperform” rating for the company. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and ten have assigned a buy rating to the company’s stock. Charles Schwab has an average rating of “Hold” and an average target price of $57.73.

SCHW stock opened at $48.63 on Friday. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.33. The firm has a market cap of $64.53 billion, a price-to-earnings ratio of 29.65, a price-to-earnings-growth ratio of 1.19 and a beta of 1.48. Charles Schwab Co. has a 52-week low of $42.01 and a 52-week high of $60.22.

Charles Schwab (NYSE:SCHW) last posted its earnings results on Monday, October 15th. The financial services provider reported $0.65 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.65. The company had revenue of $2.58 billion during the quarter, compared to analysts’ expectations of $2.58 billion. Charles Schwab had a return on equity of 19.46% and a net margin of 32.65%. The firm’s quarterly revenue was up 19.1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.42 earnings per share. As a group, equities research analysts anticipate that Charles Schwab Co. will post 2.45 earnings per share for the current fiscal year.

Charles Schwab declared that its board has approved a stock repurchase program on Thursday, October 25th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the financial services provider to purchase up to 1.7% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 23rd. Shareholders of record on Friday, November 9th will be paid a dividend of $0.13 per share. The ex-dividend date of this dividend is Thursday, November 8th. This represents a $0.52 annualized dividend and a yield of 1.07%. Charles Schwab’s dividend payout ratio (DPR) is 31.71%.

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

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