Kennebec Savings Bank Takes $644,000 Position in The Charles Schwab Co. (NYSE:SCHW)

Kennebec Savings Bank acquired a new stake in The Charles Schwab Co. (NYSE:SCHW - Free Report) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 9,942 shares of the financial services provider's stock, valued at approximately $644,000.

Other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in Charles Schwab by 0.9% in the 1st quarter. Vanguard Group Inc. now owns 120,963,133 shares of the financial services provider's stock valued at $8,750,473,000 after purchasing an additional 1,042,823 shares during the period. Price T Rowe Associates Inc. MD lifted its position in Charles Schwab by 4.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 72,306,560 shares of the financial services provider's stock worth $5,230,657,000 after purchasing an additional 2,946,327 shares during the period. Legal & General Group Plc grew its stake in Charles Schwab by 2.1% during the second quarter. Legal & General Group Plc now owns 10,886,058 shares of the financial services provider's stock worth $802,193,000 after buying an additional 225,397 shares in the last quarter. Allen Investment Management LLC increased its holdings in Charles Schwab by 3.0% in the 2nd quarter. Allen Investment Management LLC now owns 8,712,364 shares of the financial services provider's stock valued at $642,014,000 after buying an additional 251,485 shares during the period. Finally, Lazard Asset Management LLC raised its position in shares of Charles Schwab by 8.9% in the 1st quarter. Lazard Asset Management LLC now owns 7,305,050 shares of the financial services provider's stock valued at $528,445,000 after buying an additional 596,589 shares in the last quarter. Institutional investors own 84.38% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. TD Cowen reissued a "hold" rating and set a $71.00 target price (down previously from $88.00) on shares of Charles Schwab in a research note on Wednesday, July 17th. Piper Sandler lifted their target price on Charles Schwab from $64.00 to $65.00 and gave the stock a "neutral" rating in a report on Wednesday, October 16th. Bank of America reduced their price objective on shares of Charles Schwab from $63.00 to $61.00 and set an "underperform" rating on the stock in a research note on Wednesday, October 16th. Deutsche Bank Aktiengesellschaft upped their target price on Charles Schwab from $77.00 to $80.00 and gave the company a "buy" rating in a research report on Monday. Finally, Citigroup cut their target price on shares of Charles Schwab from $75.00 to $72.00 and set a "neutral" rating on the stock in a research note on Friday, September 27th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $74.18.

Charles Schwab Stock Performance

Shares of SCHW traded up $3.18 on Monday, reaching $77.08. 4,813,073 shares of the company's stock traded hands, compared to its average volume of 8,020,141. The stock's 50 day simple moving average is $67.24 and its two-hundred day simple moving average is $69.44. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 0.65. The Charles Schwab Co. has a 52-week low of $53.60 and a 52-week high of $79.49. The stock has a market cap of $137.08 billion, a PE ratio of 30.14, a PEG ratio of 1.69 and a beta of 0.96.

Charles Schwab (NYSE:SCHW - Get Free Report) last released its earnings results on Tuesday, October 15th. The financial services provider reported $0.77 earnings per share for the quarter, beating analysts' consensus estimates of $0.75 by $0.02. Charles Schwab had a net margin of 27.47% and a return on equity of 17.52%. The firm had revenue of $4.85 billion for the quarter, compared to analysts' expectations of $4.78 billion. During the same period in the previous year, the company earned $0.77 earnings per share. The company's quarterly revenue was up 5.2% on a year-over-year basis. On average, analysts forecast that The Charles Schwab Co. will post 3.11 earnings per share for the current fiscal year.

Charles Schwab Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Friday, November 8th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.30%. The ex-dividend date is Friday, November 8th. Charles Schwab's dividend payout ratio (DPR) is currently 39.06%.

Insider Activity at Charles Schwab

In related news, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the firm's stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $64.05, for a total value of $576,450.00. Following the completion of the transaction, the director now directly owns 554,929 shares of the company's stock, valued at approximately $35,543,202.45. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Charles Schwab news, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the firm's stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $64.05, for a total value of $576,450.00. Following the completion of the transaction, the director now owns 554,929 shares in the company, valued at $35,543,202.45. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Charles R. Schwab sold 62,345 shares of the company's stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $72.52, for a total value of $4,521,259.40. Following the sale, the chairman now owns 60,619,371 shares in the company, valued at approximately $4,396,116,784.92. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 113,465 shares of company stock worth $8,050,109. Company insiders own 6.60% of the company's stock.

Charles Schwab Company Profile

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.