AMG National Trust Bank Lowers Position in The Charles Schwab Co. (NYSE:SCHW)

AMG National Trust Bank cut its holdings in shares of The Charles Schwab Co. (NYSE:SCHW - Free Report) by 15.4% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 80,496 shares of the financial services provider's stock after selling 14,651 shares during the quarter. AMG National Trust Bank's holdings in Charles Schwab were worth $5,217,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in SCHW. Washington Trust Advisors Inc. raised its holdings in shares of Charles Schwab by 62.6% in the 3rd quarter. Washington Trust Advisors Inc. now owns 387 shares of the financial services provider's stock valued at $25,000 after purchasing an additional 149 shares in the last quarter. Capital Performance Advisors LLP purchased a new position in Charles Schwab during the 3rd quarter worth $25,000. Country Trust Bank purchased a new position in Charles Schwab during the 2nd quarter worth $26,000. American Capital Advisory LLC purchased a new position in Charles Schwab during the 2nd quarter worth $27,000. Finally, Fortitude Family Office LLC grew its position in Charles Schwab by 97.5% during the 2nd quarter. Fortitude Family Office LLC now owns 389 shares of the financial services provider's stock worth $29,000 after purchasing an additional 192 shares during the last quarter. 84.38% of the stock is currently owned by institutional investors and hedge funds.

Charles Schwab Price Performance

Shares of NYSE SCHW traded up $0.76 during midday trading on Monday, hitting $81.40. The company had a trading volume of 9,447,706 shares, compared to its average volume of 8,113,250. The company has a quick ratio of 0.42, a current ratio of 0.47 and a debt-to-equity ratio of 0.59. The firm has a market capitalization of $144.86 billion, a price-to-earnings ratio of 31.80, a price-to-earnings-growth ratio of 1.76 and a beta of 0.96. The business has a 50-day simple moving average of $69.10 and a two-hundred day simple moving average of $69.64. The Charles Schwab Co. has a twelve month low of $55.42 and a twelve month high of $82.50.

Charles Schwab (NYSE:SCHW - Get Free Report) last announced its earnings results on Tuesday, October 15th. The financial services provider reported $0.77 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.75 by $0.02. The company had revenue of $4.85 billion during the quarter, compared to analysts' expectations of $4.78 billion. Charles Schwab had a net margin of 27.47% and a return on equity of 16.92%. The firm's quarterly revenue was up 5.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.77 earnings per share. Equities research analysts anticipate that The Charles Schwab Co. will post 3.12 earnings per share for the current year.

Charles Schwab Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Friday, November 8th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.23%. The ex-dividend date of this dividend is Friday, November 8th. Charles Schwab's payout ratio is currently 39.06%.

Analyst Ratings Changes

Several brokerages have issued reports on SCHW. Jefferies Financial Group lowered their price objective on shares of Charles Schwab from $79.00 to $73.00 and set a "buy" rating on the stock in a research report on Friday, October 4th. Keefe, Bruyette & Woods raised their price objective on shares of Charles Schwab from $76.00 to $81.00 and gave the stock an "outperform" rating in a research report on Wednesday, October 16th. JMP Securities raised their price objective on shares of Charles Schwab from $82.00 to $84.00 and gave the stock a "market outperform" rating in a research report on Wednesday, October 16th. Morgan Stanley lifted their target price on shares of Charles Schwab from $68.00 to $74.00 and gave the company an "equal weight" rating in a report on Thursday, October 24th. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on shares of Charles Schwab from $77.00 to $80.00 and gave the company a "buy" rating in a report on Monday, November 11th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, Charles Schwab presently has a consensus rating of "Hold" and a consensus target price of $74.18.

Insiders Place Their Bets

In other news, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the business'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 owns 554,929 shares of the company's stock, valued at $35,543,202.45. The trade was a 1.60 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Jonathan S. Beatty sold 2,500 shares of the business's stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $77.02, for a total transaction of $192,550.00. Following the completion of the transaction, the insider now directly owns 18,069 shares of the company's stock, valued at approximately $1,391,674.38. This represents a 12.15 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 103,645 shares of company stock worth $7,440,627. 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.