Central Pacific Bank Trust Division Has $4.81 Million Position in The Charles Schwab Co. (NYSE:SCHW)

Central Pacific Bank Trust Division reduced its stake in The Charles Schwab Co. (NYSE:SCHW) by 15.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 74,140 shares of the financial services provider’s stock after selling 13,500 shares during the period. Charles Schwab accounts for approximately 0.6% of Central Pacific Bank Trust Division’s investment portfolio, making the stock its 26th biggest position. Central Pacific Bank Trust Division’s holdings in Charles Schwab were worth $4,805,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Trust Co of the South acquired a new position in shares of Charles Schwab in the third quarter valued at about $324,000. Cascade Investment Advisors Inc. grew its stake in shares of Charles Schwab by 18.2% in the third quarter. Cascade Investment Advisors Inc. now owns 37,255 shares of the financial services provider’s stock valued at $2,414,000 after acquiring an additional 5,730 shares in the last quarter. Trust Co. of Toledo NA OH grew its stake in shares of Charles Schwab by 41.8% in the third quarter. Trust Co. of Toledo NA OH now owns 6,172 shares of the financial services provider’s stock valued at $400,000 after acquiring an additional 1,820 shares in the last quarter. Davis Capital Management grew its stake in Charles Schwab by 152.3% during the third quarter. Davis Capital Management now owns 1,408 shares of the financial services provider’s stock worth $91,000 after buying an additional 850 shares in the last quarter. Finally, Jacobs & Co. CA grew its stake in Charles Schwab by 6.6% during the third quarter. Jacobs & Co. CA now owns 172,664 shares of the financial services provider’s stock worth $11,190,000 after buying an additional 10,645 shares in the last quarter. 84.38% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on SCHW shares. Bank of America reduced their price objective on shares of Charles Schwab from $72.00 to $66.00 and set an “underperform” rating on the stock in a research note on Wednesday, July 17th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Charles Schwab from $79.00 to $80.00 and gave the stock a “buy” rating in a research note on Thursday, August 15th. The Goldman Sachs Group dropped their target price on shares of Charles Schwab from $71.00 to $67.00 and set a “neutral” rating for the company in a report on Thursday, September 26th. JPMorgan Chase & Co. dropped their target price on shares of Charles Schwab from $82.00 to $78.00 and set an “overweight” rating for the company in a report on Wednesday, July 17th. Finally, Citigroup dropped their target price on shares of Charles Schwab from $75.00 to $72.00 and set a “neutral” rating for the company in a report on Friday, September 27th. Three analysts have rated the stock with a sell rating, seven have given a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, Charles Schwab presently has an average rating of “Hold” and an average price target of $73.31.

Insiders Place Their Bets

In other Charles Schwab news, insider Jonathan S. Beatty sold 780 shares of the company’s stock in a transaction that occurred on Thursday, July 11th. The stock was sold at an average price of $75.00, for a total value of $58,500.00. Following the completion of the sale, the insider now owns 18,069 shares of the company’s stock, valued at $1,355,175. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Charles Schwab news, insider Jonathan S. Beatty sold 780 shares of the business’s stock in a transaction that occurred on Thursday, July 11th. The stock was sold at an average price of $75.00, for a total value of $58,500.00. Following the completion of the sale, the insider now owns 18,069 shares in the company, valued at $1,355,175. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Walter W. Bettinger acquired 25,000 shares of the stock in a transaction on Wednesday, July 17th. The stock was bought at an average price of $66.26 per share, with a total value of $1,656,500.00. Following the transaction, the chief executive officer now directly owns 827,377 shares of the company’s stock, valued at approximately $54,822,000.02. The disclosure for this purchase can be found here. Insiders sold a total of 99,636 shares of company stock valued at $6,457,104 over the last quarter. 6.60% of the stock is owned by corporate insiders.

Charles Schwab Stock Down 0.9 %

SCHW stock opened at $63.32 on Thursday. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 0.65. The firm has a market capitalization of $112.60 billion, a PE ratio of 26.49, a PEG ratio of 1.32 and a beta of 0.97. The Charles Schwab Co. has a twelve month low of $48.66 and a twelve month high of $79.49. The stock has a 50-day simple moving average of $64.06 and a two-hundred day simple moving average of $69.78.

Charles Schwab (NYSE:SCHW) last issued its quarterly earnings data on Tuesday, July 16th. The financial services provider reported $0.73 EPS for the quarter, topping the consensus estimate of $0.72 by $0.01. Charles Schwab had a return on equity of 18.14% and a net margin of 26.30%. The company had revenue of $4.69 billion during the quarter, compared to analyst estimates of $4.68 billion. During the same quarter in the previous year, the firm earned $0.75 earnings per share. Charles Schwab’s revenue was up .7% on a year-over-year basis. On average, equities analysts predict that The Charles Schwab Co. will post 3.05 EPS for the current fiscal year.

Charles Schwab Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Friday, August 9th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.58%. The ex-dividend date was Friday, August 9th. Charles Schwab’s dividend payout ratio is currently 41.84%.

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.