CIBC Asset Management Inc Increases Stake in The Charles Schwab Co. (NYSE:SCHW)

CIBC Asset Management Inc boosted its stake in The Charles Schwab Co. (NYSE:SCHW) by 7.2% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 245,871 shares of the financial services provider’s stock after purchasing an additional 16,538 shares during the quarter. CIBC Asset Management Inc’s holdings in Charles Schwab were worth $15,935,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Washington Trust Advisors Inc. lifted its position in Charles Schwab by 62.6% during the third quarter. Washington Trust Advisors Inc. now owns 387 shares of the financial services provider’s stock valued at $25,000 after buying an additional 149 shares in the last quarter. Capital Performance Advisors LLP acquired a new position in shares of Charles Schwab during the third quarter worth about $25,000. Country Trust Bank acquired a new stake in shares of Charles Schwab in the second quarter valued at about $26,000. American Capital Advisory LLC acquired a new position in Charles Schwab during the 2nd quarter worth approximately $27,000. Finally, Fortitude Family Office LLC boosted its holdings in Charles Schwab by 97.5% in the 2nd quarter. Fortitude Family Office LLC now owns 389 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 192 shares during the period. Institutional investors and hedge funds own 84.38% of the company’s stock.

Wall Street Analyst Weigh In

SCHW has been the subject of several analyst reports. Wells Fargo & Company upped their target price on shares of Charles Schwab from $70.00 to $75.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 16th. JPMorgan Chase & Co. boosted their price target on Charles Schwab from $86.00 to $87.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 16th. Piper Sandler raised their price objective on Charles Schwab from $64.00 to $65.00 and gave the company a “neutral” rating in a research note on Wednesday, October 16th. Deutsche Bank Aktiengesellschaft upped their target price on Charles Schwab from $77.00 to $80.00 and gave the company a “buy” rating in a research report on Monday, November 11th. Finally, Keefe, Bruyette & Woods raised their price target on shares of Charles Schwab from $76.00 to $81.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Charles Schwab presently has an average rating of “Hold” and a consensus target price of $74.18.

Insiders Place Their Bets

In related news, insider Jonathan S. Beatty sold 2,500 shares of the company’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $77.02, for a total value of $192,550.00. Following the completion of the sale, the insider now owns 18,069 shares of the company’s stock, valued at $1,391,674.38. This represents a 12.15 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $64.05, for a total value of $576,450.00. Following the sale, the director now directly owns 554,929 shares in the company, valued at approximately $35,543,202.45. The trade was a 1.60 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 103,645 shares of company stock worth $7,440,627. Insiders own 6.60% of the company’s stock.

Charles Schwab Stock Up 0.6 %

Shares of Charles Schwab stock opened at $80.64 on Friday. The stock has a market capitalization of $143.51 billion, a price-to-earnings ratio of 31.50, a PEG ratio of 1.71 and a beta of 0.96. The Charles Schwab Co. has a twelve month low of $55.09 and a twelve month high of $82.50. The company has a current ratio of 0.47, a quick ratio of 0.42 and a debt-to-equity ratio of 0.59. The business’s 50 day simple moving average is $68.38 and its 200-day simple moving average is $69.62.

Charles Schwab (NYSE:SCHW) last issued its earnings results on Tuesday, October 15th. The financial services provider reported $0.77 earnings per share for the quarter, topping the consensus estimate of $0.75 by $0.02. Charles Schwab had a return on equity of 16.92% and a net margin of 27.47%. The firm had revenue of $4.85 billion for the quarter, compared to analyst estimates of $4.78 billion. During the same period last year, the company earned $0.77 earnings per share. The firm’s revenue for the quarter was up 5.2% on a year-over-year basis. Equities research analysts forecast that The Charles Schwab Co. will post 3.12 earnings per share for the current year.

Charles Schwab Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Friday, November 8th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.24%. The ex-dividend date of this dividend is Friday, November 8th. Charles Schwab’s payout ratio is 39.06%.

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.