Citizens Financial Group Inc. RI Acquires 9,244 Shares of The Charles Schwab Corporation $SCHW

Citizens Financial Group Inc. RI boosted its holdings in shares of The Charles Schwab Corporation (NYSE:SCHW) by 9.1% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 110,926 shares of the financial services provider’s stock after acquiring an additional 9,244 shares during the quarter. Citizens Financial Group Inc. RI’s holdings in Charles Schwab were worth $10,590,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of SCHW. Panoramic Investment Advisors LLC boosted its stake in shares of Charles Schwab by 6.4% during the third quarter. Panoramic Investment Advisors LLC now owns 13,333 shares of the financial services provider’s stock valued at $1,273,000 after purchasing an additional 800 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new position in Charles Schwab in the 3rd quarter worth about $954,000. Tema Etfs LLC bought a new stake in Charles Schwab during the 3rd quarter valued at about $2,729,000. New York State Teachers Retirement System lifted its holdings in Charles Schwab by 10.9% during the 3rd quarter. New York State Teachers Retirement System now owns 1,394,190 shares of the financial services provider’s stock valued at $133,103,000 after buying an additional 136,692 shares in the last quarter. Finally, Citizens & Northern Corp boosted its position in Charles Schwab by 0.7% in the 3rd quarter. Citizens & Northern Corp now owns 22,098 shares of the financial services provider’s stock valued at $2,110,000 after buying an additional 154 shares during the period. Hedge funds and other institutional investors own 84.38% of the company’s stock.

Charles Schwab Stock Performance

Shares of Charles Schwab stock opened at $100.19 on Monday. The company has a market capitalization of $178.03 billion, a PE ratio of 23.46, a P/E/G ratio of 0.70 and a beta of 0.94. The company has a 50-day simple moving average of $96.33 and a two-hundred day simple moving average of $95.14. The Charles Schwab Corporation has a one year low of $65.88 and a one year high of $104.76. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.58 and a current ratio of 0.58.

Charles Schwab (NYSE:SCHW) last announced its earnings results on Thursday, October 16th. The financial services provider reported $1.31 earnings per share for the quarter, beating the consensus estimate of $1.25 by $0.06. Charles Schwab had a net margin of 35.93% and a return on equity of 21.02%. The company had revenue of $6.38 billion during the quarter, compared to the consensus estimate of $5.93 billion. During the same period last year, the firm earned $0.71 earnings per share. Charles Schwab’s revenue was up 26.6% compared to the same quarter last year. Research analysts expect that The Charles Schwab Corporation will post 4.22 EPS for the current fiscal year.

Charles Schwab Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 28th. Shareholders of record on Friday, November 14th were paid a dividend of $0.27 per share. The ex-dividend date was Friday, November 14th. This represents a $1.08 dividend on an annualized basis and a yield of 1.1%. Charles Schwab’s dividend payout ratio is presently 25.29%.

Analyst Ratings Changes

Several analysts have recently weighed in on SCHW shares. JMP Securities reaffirmed a “market outperform” rating and set a $110.00 price target on shares of Charles Schwab in a research note on Friday, October 17th. Piper Sandler restated a “neutral” rating on shares of Charles Schwab in a report on Tuesday, October 14th. JPMorgan Chase & Co. upped their target price on Charles Schwab from $119.00 to $121.00 and gave the stock an “overweight” rating in a report on Monday, October 20th. Morgan Stanley increased their price target on Charles Schwab from $139.00 to $148.00 and gave the stock an “overweight” rating in a research report on Monday, December 22nd. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on Charles Schwab from $119.00 to $120.00 and gave the company a “buy” rating in a report on Friday, October 17th. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $111.25.

Insider Activity

In other news, insider Jonathan S. Beatty sold 3,072 shares of Charles Schwab stock in a transaction on Wednesday, November 12th. The shares were sold at an average price of $98.00, for a total transaction of $301,056.00. Following the completion of the sale, the insider directly owned 11,923 shares in the company, valued at approximately $1,168,454. The trade was a 20.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 6.30% of the company’s stock.

Charles Schwab Profile

Charles Schwab Corporation (NYSE: SCHW) is a diversified financial services firm that provides brokerage, banking, wealth management and advisory services to individual investors, independent investment advisors and institutional clients. Its primary offerings include retail brokerage accounts, online trading platforms, Schwab-branded mutual funds and exchange-traded funds (ETFs), retirement plan services, custodial services for independent Registered Investment Advisors (RIAs), and banking products through Charles Schwab Bank.