The Charles Schwab Co. (NYSE:SCHW) Shares Purchased by Commerce Bank

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Commerce Bank raised its stake in shares of The Charles Schwab Co. (NYSE:SCHW) by 27.2% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 34,476 shares of the financial services provider’s stock after purchasing an additional 7,362 shares during the quarter. Commerce Bank’s holdings in The Charles Schwab were worth $1,249,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the stock. Creative Financial Designs Inc. ADV increased its position in The Charles Schwab by 23.2% during the third quarter. Creative Financial Designs Inc. ADV now owns 1,543 shares of the financial services provider’s stock worth $56,000 after purchasing an additional 291 shares during the last quarter. Lee Financial Group Hawaii Inc. grew its stake in The Charles Schwab by 1.7% during the second quarter. Lee Financial Group Hawaii Inc. now owns 17,358 shares of the financial services provider’s stock worth $586,000 after buying an additional 293 shares during the period. World Asset Management Inc grew its stake in The Charles Schwab by 1.0% during the third quarter. World Asset Management Inc now owns 30,828 shares of the financial services provider’s stock worth $1,117,000 after buying an additional 295 shares during the period. Checchi Capital Advisers LLC grew its stake in The Charles Schwab by 3.1% during the second quarter. Checchi Capital Advisers LLC now owns 9,936 shares of the financial services provider’s stock worth $335,000 after buying an additional 297 shares during the period. Finally, Birmingham Capital Management Co. Inc. AL grew its stake in The Charles Schwab by 1.0% during the second quarter. Birmingham Capital Management Co. Inc. AL now owns 30,385 shares of the financial services provider’s stock worth $1,025,000 after buying an additional 300 shares during the period. 85.31% of the stock is owned by hedge funds and other institutional investors.

In related news, Chairman Charles R. Schwab sold 66,288 shares of the stock in a transaction dated Thursday, October 29th. The shares were sold at an average price of $37.74, for a total value of $2,501,709.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Bernard J. Clark sold 101,188 shares of the stock in a transaction dated Tuesday, November 17th. The shares were sold at an average price of $48.83, for a total transaction of $4,941,010.04. The disclosure for this sale can be found here. Insiders sold a total of 672,590 shares of company stock valued at $30,745,240 in the last quarter. 10.80% of the stock is currently owned by insiders.

SCHW stock opened at $47.70 on Thursday. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.33. The Charles Schwab Co. has a fifty-two week low of $28.00 and a fifty-two week high of $51.65. The firm’s 50-day simple moving average is $40.40 and its 200 day simple moving average is $36.47. The stock has a market cap of $89.51 billion, a PE ratio of 22.08 and a beta of 1.13.

The Charles Schwab (NYSE:SCHW) last released its quarterly earnings data on Thursday, October 15th. The financial services provider reported $0.48 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.47 by $0.01. The Charles Schwab had a net margin of 29.80% and a return on equity of 14.02%. The business had revenue of $2.45 billion for the quarter, compared to analysts’ expectations of $2.43 billion. During the same quarter last year, the company earned $0.70 EPS. The company’s revenue for the quarter was down 9.7% compared to the same quarter last year. Equities analysts forecast that The Charles Schwab Co. will post 2.17 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, November 27th. Investors of record on Friday, November 13th will be given a $0.18 dividend. The ex-dividend date is Thursday, November 12th. This represents a $0.72 dividend on an annualized basis and a yield of 1.51%. The Charles Schwab’s dividend payout ratio is presently 26.47%.

Several equities research analysts have issued reports on the stock. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell upgraded shares of The Charles Schwab from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $44.00 to $54.00 in a research note on Tuesday. Smith Barney Citigroup upgraded shares of The Charles Schwab from a “neutral” rating to a “buy” rating and increased their price objective for the company from $44.00 to $54.00 in a research note on Tuesday. Morgan Stanley increased their price objective on shares of The Charles Schwab from $51.00 to $65.00 and gave the company an “overweight” rating in a research note on Tuesday. Bank of America increased their price objective on shares of The Charles Schwab from $40.00 to $42.00 and gave the company a “neutral” rating in a research note on Friday, October 16th. Finally, TheStreet upgraded shares of The Charles Schwab from a “c” rating to a “b-” rating in a research note on Thursday, October 8th. Ten investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The Charles Schwab presently has an average rating of “Hold” and a consensus price target of $46.75.

About The Charles Schwab

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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Want to see what other hedge funds are holding SCHW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Charles Schwab Co. (NYSE:SCHW).

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

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