Sandy Spring Bank Has $9.04 Million Position in The Charles Schwab Co. (NYSE:SCHW)

Sandy Spring Bank lowered its holdings in The Charles Schwab Co. (NYSE:SCHW) by 4.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 122,113 shares of the financial services provider’s stock after selling 5,321 shares during the quarter. Sandy Spring Bank’s holdings in Charles Schwab were worth $9,038,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Prospera Private Wealth LLC bought a new stake in shares of Charles Schwab during the third quarter worth $31,000. Atala Financial Inc bought a new stake in shares of Charles Schwab during the fourth quarter worth $41,000. Knuff & Co LLC raised its position in shares of Charles Schwab by 1,309.3% during the fourth quarter. Knuff & Co LLC now owns 606 shares of the financial services provider’s stock worth $45,000 after acquiring an additional 563 shares during the last quarter. Financial Life Planners bought a new stake in shares of Charles Schwab during the fourth quarter worth $46,000. Finally, Whipplewood Advisors LLC bought a new stake in shares of Charles Schwab during the fourth quarter worth $46,000. Institutional investors and hedge funds own 84.38% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on SCHW. UBS Group upped their price objective on Charles Schwab from $90.00 to $95.00 and gave the company a “buy” rating in a report on Monday, January 27th. Barclays upped their price objective on Charles Schwab from $95.00 to $96.00 and gave the company an “overweight” rating in a report on Wednesday, January 22nd. Jefferies Financial Group upped their price objective on Charles Schwab from $84.00 to $94.00 and gave the company a “buy” rating in a report on Monday, December 9th. JMP Securities restated a “market outperform” rating and issued a $94.00 price target (up from $84.00) on shares of Charles Schwab in a report on Monday, December 9th. Finally, Piper Sandler increased their price target on Charles Schwab from $65.00 to $70.00 and gave the stock a “neutral” rating in a report on Tuesday, January 7th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $86.33.

Charles Schwab Stock Performance

SCHW opened at $78.72 on Thursday. The Charles Schwab Co. has a 12-month low of $61.01 and a 12-month high of $84.50. The stock has a market cap of $142.76 billion, a price-to-earnings ratio of 26.33, a PEG ratio of 0.99 and a beta of 0.98. The business has a 50 day moving average of $78.76 and a 200-day moving average of $74.60. 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 released its quarterly earnings data on Tuesday, January 21st. The financial services provider reported $1.01 earnings per share (EPS) for the quarter, beating 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 company had revenue of $5.33 billion during the quarter, compared to analysts’ expectations of $5.19 billion. During the same period last year, the firm posted $0.68 earnings per share. The business’s revenue was up 19.5% on a year-over-year basis. On average, equities research analysts expect that The Charles Schwab Co. will post 4.22 earnings per share for the current year.

Charles Schwab Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 14th were given a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.37%. This is a boost from Charles Schwab’s previous quarterly dividend of $0.25. The ex-dividend date was Friday, February 14th. Charles Schwab’s dividend payout ratio (DPR) is presently 36.12%.

Insider Activity

In other news, General Counsel Peter J. Morgan III sold 14,643 shares of the stock in a transaction that occurred on Wednesday, January 22nd. The stock was sold at an average price of $80.70, for a total transaction of $1,181,690.10. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Chairman Walter W. Bettinger sold 464,629 shares of the stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $81.91, for a total value of $38,057,761.39. Following the transaction, the chairman now owns 827,377 shares in the company, valued at approximately $67,770,450.07. This trade represents a 35.96 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 501,087 shares of company stock valued at $40,952,233 over the last three months. Insiders own 6.60% of the company’s stock.

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.