Canandaigua National Bank & Trust Co. Buys 2,092 Shares of The Charles Schwab Co. (NYSE:SCHW)

Canandaigua National Bank & Trust Co. boosted its stake in The Charles Schwab Co. (NYSE:SCHW) by 6.7% during the 4th quarter, HoldingsChannel reports. The fund owned 33,176 shares of the financial services provider’s stock after acquiring an additional 2,092 shares during the quarter. Canandaigua National Bank & Trust Co.’s holdings in Charles Schwab were worth $2,455,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Oliver Luxxe Assets LLC grew its holdings in shares of Charles Schwab by 61.9% during the fourth quarter. Oliver Luxxe Assets LLC now owns 60,655 shares of the financial services provider’s stock worth $4,489,000 after buying an additional 23,187 shares in the last quarter. Iowa State Bank grew its stake in shares of Charles Schwab by 4.9% during the 4th quarter. Iowa State Bank now owns 29,860 shares of the financial services provider’s stock worth $2,210,000 after acquiring an additional 1,384 shares in the last quarter. Hiley Hunt Wealth Management bought a new stake in shares of Charles Schwab in the fourth quarter worth $228,000. CWA Asset Management Group LLC boosted its holdings in Charles Schwab by 1.0% during the fourth quarter. CWA Asset Management Group LLC now owns 28,943 shares of the financial services provider’s stock worth $2,142,000 after purchasing an additional 279 shares during the last quarter. Finally, Nordea Investment Management AB boosted its holdings in Charles Schwab by 6.2% during the fourth quarter. Nordea Investment Management AB now owns 129,431 shares of the financial services provider’s stock worth $9,571,000 after purchasing an additional 7,499 shares during the last quarter. 84.38% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

SCHW has been the topic of several analyst reports. Piper Sandler increased their price objective on shares of Charles Schwab from $64.00 to $65.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 16th. JMP Securities restated a “market outperform” rating and issued a $94.00 price target (up from $84.00) on shares of Charles Schwab in a research note on Monday, December 9th. Raymond James cut their price objective on Charles Schwab from $76.00 to $73.00 in a report on Tuesday, October 15th. Bank of America lowered their target price on shares of Charles Schwab from $63.00 to $61.00 and set an “underperform” rating on the stock in a report on Wednesday, October 16th. Finally, Citigroup cut their price target on shares of Charles Schwab from $75.00 to $72.00 and set a “neutral” rating for the company in a research note on Friday, September 27th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, Charles Schwab currently has a consensus rating of “Hold” and an average target price of $80.50.

Insider Buying and Selling at Charles Schwab

In related news, insider Jonathan S. Beatty sold 2,300 shares of the business’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $82.01, for a total transaction of $188,623.00. Following the sale, the insider now owns 18,069 shares in the company, valued at $1,481,838.69. The trade was a 11.29 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Nigel J. Murtagh sold 12,739 shares of the stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $81.17, for a total value of $1,034,024.63. Following the completion of the transaction, the insider now owns 59,092 shares of the company’s stock, valued at $4,796,497.64. This represents a 17.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 118,968 shares of company stock worth $8,842,821 over the last 90 days. Insiders own 6.60% of the company’s stock.

Charles Schwab Price Performance

Charles Schwab stock traded down $0.10 during mid-day trading on Monday, reaching $74.35. 7,433,271 shares of the company were exchanged, compared to its average volume of 5,287,045. The company has a fifty day simple moving average of $77.40 and a 200-day simple moving average of $70.61. The firm has a market cap of $132.32 billion, a PE ratio of 29.04, a PEG ratio of 1.76 and a beta of 0.99. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.47 and a quick ratio of 0.47. The Charles Schwab Co. has a 12 month low of $59.67 and a 12 month high of $83.35.

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

Charles Schwab Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Friday, November 8th were given a dividend of $0.25 per share. The ex-dividend date was Friday, November 8th. This represents a $1.00 annualized dividend and a dividend yield of 1.34%. Charles Schwab’s dividend payout ratio is currently 39.06%.

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.