First Citizens Bank & Trust Co. Sells 898 Shares of The Charles Schwab Corporation $SCHW

First Citizens Bank & Trust Co. decreased its holdings in shares of The Charles Schwab Corporation (NYSE:SCHW) by 4.8% during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 17,787 shares of the financial services provider’s stock after selling 898 shares during the quarter. First Citizens Bank & Trust Co.’s holdings in Charles Schwab were worth $1,623,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of SCHW. Brighton Jones LLC grew its stake in shares of Charles Schwab by 380.5% during the fourth quarter. Brighton Jones LLC now owns 24,240 shares of the financial services provider’s stock valued at $1,794,000 after buying an additional 19,195 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of Charles Schwab by 28.2% during the first quarter. GAMMA Investing LLC now owns 27,122 shares of the financial services provider’s stock valued at $2,123,000 after buying an additional 5,973 shares during the last quarter. Aurora Private Wealth Inc. bought a new position in shares of Charles Schwab during the first quarter valued at approximately $1,194,000. Golden State Wealth Management LLC grew its stake in shares of Charles Schwab by 168.3% during the first quarter. Golden State Wealth Management LLC now owns 2,238 shares of the financial services provider’s stock valued at $175,000 after buying an additional 1,404 shares during the last quarter. Finally, Perigon Wealth Management LLC grew its stake in shares of Charles Schwab by 0.3% during the first quarter. Perigon Wealth Management LLC now owns 157,450 shares of the financial services provider’s stock valued at $12,325,000 after buying an additional 408 shares during the last quarter. Institutional investors own 84.38% of the company’s stock.

Insider Activity

In other news, insider Paul V. Woolway sold 3,205 shares of the stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $93.33, for a total transaction of $299,122.65. Following the completion of the sale, the insider owned 34,778 shares in the company, valued at approximately $3,245,830.74. This represents a 8.44% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, General Counsel Peter J. Morgan III sold 50,016 shares of the stock in a transaction on Wednesday, August 27th. The shares were sold at an average price of $97.00, for a total value of $4,851,552.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 267,128 shares of company stock worth $26,232,077. Company insiders own 6.30% of the company’s stock.

Charles Schwab Stock Up 0.2%

Charles Schwab stock opened at $94.52 on Friday. The business has a fifty day moving average of $94.46 and a two-hundred day moving average of $90.18. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 0.47. The firm has a market cap of $171.58 billion, a P/E ratio of 22.14, a P/E/G ratio of 0.85 and a beta of 0.97. The Charles Schwab Corporation has a twelve month low of $65.88 and a twelve month high of $99.59.

Charles Schwab (NYSE:SCHW) last posted its earnings results on Thursday, October 16th. The financial services provider reported $1.31 earnings per share for the quarter, topping analysts’ consensus estimates of $1.25 by $0.06. The company had revenue of $6.14 billion during the quarter, compared to analyst estimates of $5.93 billion. Charles Schwab had a return on equity of 21.26% and a net margin of 35.93%.Charles Schwab’s revenue was up 26.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.71 earnings per share. On average, analysts forecast that The Charles Schwab Corporation will post 4.22 earnings per share for the current fiscal year.

Charles Schwab announced that its Board of Directors has approved a stock repurchase plan on Thursday, July 24th that allows the company to buyback $20.00 billion in shares. This buyback authorization allows the financial services provider to buy up to 11.6% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.

Charles Schwab Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 28th. Stockholders of record on Friday, November 14th will be issued a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 1.1%. The ex-dividend date is Friday, November 14th. Charles Schwab’s dividend payout ratio is currently 25.29%.

Analysts Set New Price Targets

Several brokerages recently issued reports on SCHW. Keefe, Bruyette & Woods increased their price objective on Charles Schwab from $109.00 to $111.00 and gave the stock an “outperform” rating in a research note on Friday, October 17th. JPMorgan Chase & Co. increased their price objective on Charles Schwab from $119.00 to $121.00 and gave the stock an “overweight” rating in a research note on Monday. Bank of America increased their price objective on Charles Schwab from $84.00 to $86.00 and gave the stock an “underperform” rating in a research note on Thursday, October 2nd. Morgan Stanley dropped their price objective on Charles Schwab to $130.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 1st. Finally, Barclays increased their price objective on Charles Schwab from $114.00 to $115.00 and gave the stock an “overweight” rating in a research note on Friday, October 17th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, Charles Schwab has a consensus rating of “Moderate Buy” and a consensus price target of $106.00.

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.