Bank of Stockton Has $820,000 Stake in The Charles Schwab Corporation (NYSE:SCHW)

Bank of Stockton lifted its position in shares of The Charles Schwab Corporation (NYSE:SCHW) by 5.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,470 shares of the financial services provider’s stock after buying an additional 535 shares during the period. Bank of Stockton’s holdings in Charles Schwab were worth $820,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Norges Bank bought a new stake in Charles Schwab during the 4th quarter worth about $1,289,544,000. Kovitz Investment Group Partners LLC raised its holdings in Charles Schwab by 354.5% during the fourth quarter. Kovitz Investment Group Partners LLC now owns 11,005,881 shares of the financial services provider’s stock worth $814,545,000 after acquiring an additional 8,584,173 shares in the last quarter. FMR LLC boosted its position in Charles Schwab by 69.4% during the fourth quarter. FMR LLC now owns 9,700,013 shares of the financial services provider’s stock valued at $717,898,000 after purchasing an additional 3,974,940 shares during the last quarter. Marshall Wace LLP grew its stake in Charles Schwab by 742.0% in the fourth quarter. Marshall Wace LLP now owns 4,181,202 shares of the financial services provider’s stock valued at $309,451,000 after purchasing an additional 3,684,640 shares in the last quarter. Finally, Primecap Management Co. CA increased its position in shares of Charles Schwab by 310.3% during the 4th quarter. Primecap Management Co. CA now owns 4,252,350 shares of the financial services provider’s stock worth $314,716,000 after purchasing an additional 3,216,000 shares during the last quarter. 84.38% of the stock is currently owned by institutional investors.

Charles Schwab Trading Up 0.6%

SCHW opened at $89.83 on Thursday. The Charles Schwab Corporation has a twelve month low of $61.01 and a twelve month high of $90.60. The company has a fifty day moving average of $85.57 and a 200-day moving average of $80.28. The stock has a market cap of $163.22 billion, a PE ratio of 27.22, a price-to-earnings-growth ratio of 0.96 and a beta of 0.94. The company has a quick ratio of 0.53, a current ratio of 0.53 and a debt-to-equity ratio of 0.53.

Charles Schwab (NYSE:SCHW) last announced its quarterly earnings data on Thursday, April 17th. The financial services provider reported $1.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.01 by $0.03. The company had revenue of $5.60 billion for the quarter, compared to the consensus estimate of $5.46 billion. Charles Schwab had a return on equity of 18.31% and a net margin of 31.71%. During the same period in the previous year, the business earned $0.74 EPS. On average, sell-side analysts predict that The Charles Schwab Corporation will post 4.22 EPS for the current year.

Charles Schwab Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, May 23rd. Shareholders of record on Friday, May 9th were issued a $0.27 dividend. The ex-dividend date was Friday, May 9th. This represents a $1.08 annualized dividend and a yield of 1.20%. Charles Schwab’s payout ratio is currently 32.73%.

Insider Transactions at Charles Schwab

In related news, insider Jonathan M. Craig sold 47,500 shares of the stock in a transaction dated Wednesday, May 21st. The shares were sold at an average price of $88.46, for a total transaction of $4,201,850.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Frank C. Herringer sold 3,592 shares of the business’s stock in a transaction dated Monday, April 21st. The shares were sold at an average price of $74.26, for a total transaction of $266,741.92. Following the completion of the transaction, the director now owns 172,162 shares in the company, valued at approximately $12,784,750.12. The trade was a 2.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 119,995 shares of company stock valued at $10,493,320 over the last ninety days. 6.30% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on SCHW. Morgan Stanley increased their price objective on Charles Schwab from $76.00 to $83.00 and gave the company an “overweight” rating in a report on Tuesday, May 13th. Keefe, Bruyette & Woods increased their price target on shares of Charles Schwab from $90.00 to $93.00 and gave the company an “outperform” rating in a research note on Tuesday, April 22nd. TD Securities lifted their price objective on shares of Charles Schwab from $95.00 to $113.00 and gave the company a “buy” rating in a research report on Tuesday, May 20th. UBS Group upped their target price on shares of Charles Schwab from $95.00 to $96.00 and gave the company a “buy” rating in a report on Tuesday, April 22nd. Finally, Citigroup raised Charles Schwab from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $85.00 to $102.00 in a research report on Wednesday, April 2nd. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Charles Schwab presently has a consensus rating of “Moderate Buy” and an average target price of $89.40.

Charles Schwab Company 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.