Synovus Financial Corp Buys 21,377 Shares of The Charles Schwab Co. (NYSE:SCHW)

Synovus Financial Corp boosted its stake in shares of The Charles Schwab Co. (NYSE:SCHW) by 46.0% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 67,889 shares of the financial services provider’s stock after purchasing an additional 21,377 shares during the period. Synovus Financial Corp’s holdings in Charles Schwab were worth $4,400,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the stock. Tidal Investments LLC increased its stake in shares of Charles Schwab by 8.4% in the third quarter. Tidal Investments LLC now owns 119,185 shares of the financial services provider’s stock worth $7,724,000 after purchasing an additional 9,245 shares in the last quarter. Wilmington Savings Fund Society FSB boosted its holdings in Charles Schwab by 69.0% in the 3rd quarter. Wilmington Savings Fund Society FSB now owns 74,073 shares of the financial services provider’s stock worth $4,801,000 after buying an additional 30,237 shares during the period. Sfmg LLC boosted its holdings in Charles Schwab by 2.5% in the 3rd quarter. Sfmg LLC now owns 58,542 shares of the financial services provider’s stock worth $3,794,000 after buying an additional 1,444 shares during the period. World Investment Advisors LLC purchased a new stake in Charles Schwab in the 3rd quarter worth $9,211,000. Finally, Sculati Wealth Management LLC raised its holdings in Charles Schwab by 0.7% during the third quarter. Sculati Wealth Management LLC now owns 42,988 shares of the financial services provider’s stock valued at $2,786,000 after acquiring an additional 315 shares during the period. Institutional investors own 84.38% of the company’s stock.

Charles Schwab Price Performance

NYSE:SCHW opened at $79.54 on Friday. The firm has a market capitalization of $141.55 billion, a price-to-earnings ratio of 31.07, a PEG ratio of 1.79 and a beta of 0.96. 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 business has a 50 day simple moving average of $75.84 and a 200-day simple moving average of $70.45. The Charles Schwab Co. has a 1 year low of $59.67 and a 1 year high of $83.35.

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

Charles Schwab Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Friday, November 8th were issued a $0.25 dividend. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.00 annualized dividend and a dividend yield of 1.26%. Charles Schwab’s dividend payout ratio (DPR) is presently 39.06%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on SCHW shares. Keefe, Bruyette & Woods upped their price objective on Charles Schwab from $76.00 to $81.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. Barclays upgraded Charles Schwab from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $74.00 to $95.00 in a research note on Monday, December 9th. 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. Wells Fargo & Company upped their target price on shares of Charles Schwab from $75.00 to $90.00 and gave the stock an “equal weight” rating in a research report on Thursday. Finally, Raymond James reduced their price target on shares of Charles Schwab from $76.00 to $73.00 in a report on Tuesday, October 15th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, Charles Schwab presently has a consensus rating of “Hold” and a consensus price target of $79.75.

Insider Buying and Selling

In other Charles Schwab news, insider Jonathan S. Beatty sold 2,300 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Nigel J. Murtagh sold 12,739 shares of the stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $81.17, for a total value of $1,034,024.63. Following the completion of the sale, the insider now owns 59,092 shares in the company, valued at approximately $4,796,497.64. The trade was a 17.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 127,968 shares of company stock valued at $9,419,271. Company insiders own 6.60% of the company’s stock.

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.