Independence Bank of Kentucky Sells 515 Shares of The Charles Schwab Co. (NYSE:SCHW)

Independence Bank of Kentucky reduced its position in shares of The Charles Schwab Co. (NYSE:SCHW) by 3.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 15,915 shares of the financial services provider’s stock after selling 515 shares during the period. Independence Bank of Kentucky’s holdings in Charles Schwab were worth $1,178,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Centaurus Financial Inc. grew its position in shares of Charles Schwab by 38.8% in the second quarter. Centaurus Financial Inc. now owns 24,103 shares of the financial services provider’s stock valued at $1,776,000 after purchasing an additional 6,739 shares during the last quarter. Neville Rodie & Shaw Inc. bought a new stake in Charles Schwab during the 3rd quarter valued at approximately $353,000. Trust Co. of Toledo NA OH grew its holdings in Charles Schwab by 41.8% in the 3rd quarter. Trust Co. of Toledo NA OH now owns 6,172 shares of the financial services provider’s stock valued at $400,000 after buying an additional 1,820 shares during the last quarter. Czech National Bank increased its position in Charles Schwab by 7.0% in the 3rd quarter. Czech National Bank now owns 304,322 shares of the financial services provider’s stock worth $19,723,000 after buying an additional 19,833 shares during the period. Finally, Canandaigua National Bank & Trust Co. lifted its holdings in shares of Charles Schwab by 0.9% during the third quarter. Canandaigua National Bank & Trust Co. now owns 31,084 shares of the financial services provider’s stock worth $2,015,000 after buying an additional 290 shares during the last quarter. 84.38% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Charles Schwab news, Director Arun Sarin sold 8,548 shares of the business’s stock in a transaction dated Thursday, January 23rd. The stock was sold at an average price of $81.82, for a total transaction of $699,397.36. Following the completion of the sale, the director now directly owns 18,617 shares of the company’s stock, valued at approximately $1,523,242.94. The trade was a 31.47 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Jonathan S. Beatty sold 2,300 shares of the firm’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $82.01, for a total transaction of $188,623.00. Following the completion of the transaction, the insider now directly owns 18,069 shares in the company, valued at $1,481,838.69. This trade represents a 11.29 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 50,014 shares of company stock valued at $4,052,281 in the last 90 days. 6.60% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on SCHW. Truist Financial reaffirmed a “buy” rating and set a $90.00 target price (up previously from $86.00) on shares of Charles Schwab in a research report on Wednesday, January 22nd. JMP Securities restated a “market outperform” rating and set a $94.00 price objective (up previously from $84.00) on shares of Charles Schwab in a report on Monday, December 9th. The Goldman Sachs Group increased their target price on shares of Charles Schwab from $67.00 to $74.00 and gave the company a “neutral” rating in a research note on Wednesday, October 16th. Cowen boosted their price target on Charles Schwab from $69.00 to $75.00 and gave the company a “hold” rating in a research note on Tuesday, October 15th. Finally, Keefe, Bruyette & Woods lifted their price objective on Charles Schwab from $81.00 to $93.00 and gave the stock an “outperform” rating in a report on Friday, December 20th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $84.11.

Charles Schwab Price Performance

Shares of Charles Schwab stock opened at $82.73 on Friday. The Charles Schwab Co. has a 1-year low of $61.01 and a 1-year high of $83.84. The firm’s 50-day moving average price is $77.97 and its two-hundred day moving average price is $71.14. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 0.59. The stock has a market capitalization of $147.22 billion, a price-to-earnings ratio of 27.67, a P/E/G ratio of 1.00 and a beta of 0.99.

Charles Schwab (NYSE:SCHW) last released its quarterly earnings results on Tuesday, January 21st. The financial services provider reported $1.01 earnings per share for the quarter, beating analysts’ consensus estimates of $0.90 by $0.11. The firm had revenue of $5.33 billion during the quarter, compared to analysts’ expectations of $5.19 billion. Charles Schwab had a return on equity of 18.20% and a net margin of 30.31%. The business’s revenue was up 19.5% on a year-over-year basis. During the same period last year, the firm posted $0.68 EPS. On average, equities analysts predict that The Charles Schwab Co. will post 4.18 earnings per share for the current fiscal year.

Charles Schwab Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Friday, February 14th will be given a dividend of $0.27 per share. This is an increase from Charles Schwab’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Friday, February 14th. This represents a $1.08 annualized dividend and a yield of 1.31%. Charles Schwab’s dividend payout ratio is 33.44%.

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.