Peapack Gladstone Financial Corp Sells 22,593 Shares of The Charles Schwab Co. (NYSE:SCHW)

Peapack Gladstone Financial Corp trimmed its holdings in The Charles Schwab Co. (NYSE:SCHW - Free Report) by 7.9% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 262,079 shares of the financial services provider's stock after selling 22,593 shares during the period. Peapack Gladstone Financial Corp's holdings in Charles Schwab were worth $16,986,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in SCHW. Darsana Capital Partners LP raised its position in shares of Charles Schwab by 200.0% during the 2nd quarter. Darsana Capital Partners LP now owns 3,000,000 shares of the financial services provider's stock valued at $221,070,000 after acquiring an additional 2,000,000 shares in the last quarter. Massachusetts Financial Services Co. MA grew its stake in Charles Schwab by 6.3% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 28,679,305 shares of the financial services provider's stock worth $1,858,706,000 after buying an additional 1,711,312 shares during the last quarter. AustralianSuper Pty Ltd grew its stake in Charles Schwab by 2,617.6% during the 3rd quarter. AustralianSuper Pty Ltd now owns 1,707,771 shares of the financial services provider's stock worth $110,681,000 after buying an additional 1,644,931 shares during the last quarter. Two Sigma Advisers LP bought a new position in Charles Schwab during the 3rd quarter worth $86,845,000. Finally, International Assets Investment Management LLC grew its stake in Charles Schwab by 7,559.9% during the 3rd quarter. International Assets Investment Management LLC now owns 889,779 shares of the financial services provider's stock worth $57,667,000 after buying an additional 878,163 shares during the last quarter. 84.38% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts recently commented on SCHW shares. Bank of America lowered their price objective on Charles Schwab from $63.00 to $61.00 and set an "underperform" rating for the company in a research note on Wednesday, October 16th. Cowen increased their price target on Charles Schwab from $69.00 to $75.00 and gave the stock a "hold" rating in a research note on Tuesday, October 15th. Piper Sandler increased their price target on Charles Schwab from $64.00 to $65.00 and gave the stock a "neutral" rating in a research note on Wednesday, October 16th. Deutsche Bank Aktiengesellschaft increased their price target on Charles Schwab from $77.00 to $80.00 and gave the stock a "buy" rating in a research note on Monday, November 11th. Finally, The Goldman Sachs Group increased their price target on Charles Schwab from $67.00 to $74.00 and gave the stock a "neutral" rating in a research note on Wednesday, October 16th. One 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. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $79.75.

Insider Buying and Selling

In other news, insider Jonathan S. Beatty sold 2,300 shares of the firm's stock in a transaction dated 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 sale, the insider now directly owns 18,069 shares of the company's stock, valued at $1,481,838.69. This trade represents a 11.29 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 sale, the director now directly owns 554,929 shares of the company's stock, valued at $35,543,202.45. This trade represents a 1.60 % 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. Corporate insiders own 6.60% of the company's stock.

Charles Schwab Trading Down 4.0 %

Shares of NYSE SCHW traded down $3.31 during mid-day trading on Friday, hitting $79.54. 12,661,194 shares of the company traded hands, compared to its average volume of 8,012,078. The Charles Schwab Co. has a 1 year low of $59.67 and a 1 year high of $83.35. The stock has a market capitalization of $141.55 billion, a price-to-earnings ratio of 32.36, a PEG ratio of 1.79 and a beta of 0.96. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 0.59. The business has a 50 day moving average of $75.55 and a two-hundred day moving average of $70.41.

Charles Schwab (NYSE:SCHW - Get Free Report) last announced its quarterly earnings data 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. The firm had revenue of $4.85 billion during the quarter, compared to the consensus estimate of $4.78 billion. Charles Schwab had a return on equity of 16.92% and a net margin of 27.47%. The business's revenue for the quarter was up 5.2% on a year-over-year basis. During the same period in the prior year, the business earned $0.77 EPS. On average, sell-side analysts anticipate 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 paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.26%. The ex-dividend date of this dividend was Friday, November 8th. Charles Schwab's dividend payout ratio is currently 39.06%.

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.