Zurcher Kantonalbank Zurich Cantonalbank Buys 76,954 Shares of The Charles Schwab Co. (NYSE:SCHW)

Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of The Charles Schwab Co. (NYSE:SCHW - Free Report) by 14.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 618,033 shares of the financial services provider's stock after buying an additional 76,954 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank's holdings in Charles Schwab were worth $45,741,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of SCHW. State Street Corp increased its position in shares of Charles Schwab by 0.7% during the 3rd quarter. State Street Corp now owns 62,076,447 shares of the financial services provider's stock valued at $4,023,175,000 after purchasing an additional 414,949 shares during the last quarter. Geode Capital Management LLC increased its holdings in Charles Schwab by 1.5% during the third quarter. Geode Capital Management LLC now owns 30,141,441 shares of the financial services provider's stock worth $1,945,614,000 after buying an additional 445,304 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its stake in Charles Schwab by 6.3% in the third quarter. Massachusetts Financial Services Co. MA now owns 28,679,305 shares of the financial services provider's stock valued at $1,858,706,000 after acquiring an additional 1,711,312 shares during the last quarter. Franklin Resources Inc. grew its position in shares of Charles Schwab by 15.0% during the 3rd quarter. Franklin Resources Inc. now owns 24,261,234 shares of the financial services provider's stock valued at $1,644,674,000 after acquiring an additional 3,157,923 shares during the period. Finally, Fisher Asset Management LLC increased its stake in shares of Charles Schwab by 1.3% during the 4th quarter. Fisher Asset Management LLC now owns 20,455,266 shares of the financial services provider's stock worth $1,513,894,000 after purchasing an additional 265,708 shares during the last quarter. 84.38% of the stock is owned by hedge funds and other institutional investors.

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Charles Schwab Price Performance

Shares of NYSE SCHW traded up $2.01 during midday trading on Wednesday, hitting $74.48. 6,389,509 shares of the company's stock were exchanged, compared to its average volume of 12,154,285. The business's fifty day moving average price is $78.42 and its two-hundred day moving average price is $74.16. The company has a market cap of $135.07 billion, a price-to-earnings ratio of 24.90, a PEG ratio of 0.99 and a beta of 0.98. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 0.59. The Charles Schwab Co. has a 12-month low of $61.01 and a 12-month high of $84.50.

Charles Schwab (NYSE:SCHW - Get Free Report) last announced its earnings results on Tuesday, January 21st. The financial services provider reported $1.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.90 by $0.11. The company had revenue of $5.33 billion during the quarter, compared to analyst estimates of $5.19 billion. Charles Schwab had a net margin of 30.31% and a return on equity of 18.20%. The firm's quarterly revenue was up 19.5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.68 earnings per share. As a group, research analysts forecast that The Charles Schwab Co. will post 4.22 EPS for the current fiscal year.

Charles Schwab Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 14th were paid a dividend of $0.27 per share. The ex-dividend date was Friday, February 14th. This is an increase from Charles Schwab's previous quarterly dividend of $0.25. This represents a $1.08 annualized dividend and a dividend yield of 1.45%. Charles Schwab's dividend payout ratio (DPR) is 36.12%.

Insider Transactions at Charles Schwab

In other Charles Schwab news, Chairman Walter W. Bettinger sold 464,629 shares of the business's stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $81.91, for a total value of $38,057,761.39. Following the transaction, the chairman now owns 827,377 shares in the company, valued at approximately $67,770,450.07. The trade was a 35.96 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Paul V. Woolway sold 3,380 shares of the stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $79.32, for a total transaction of $268,101.60. Following the sale, the insider now owns 57,818 shares of the company's stock, valued at approximately $4,586,123.76. This represents a 5.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 501,087 shares of company stock worth $40,952,233. 6.60% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on SCHW. TD Cowen raised Charles Schwab from a "hold" rating to a "buy" rating and increased their price objective for the company from $88.00 to $103.00 in a report on Tuesday, February 18th. Jefferies Financial Group lifted their price objective on Charles Schwab from $84.00 to $94.00 and gave the stock a "buy" rating in a report on Monday, December 9th. Wells Fargo & Company raised shares of Charles Schwab from an "equal weight" rating to an "overweight" rating and upped their price objective for the company from $89.00 to $93.00 in a report on Wednesday, January 22nd. Morgan Stanley lifted their target price on shares of Charles Schwab from $84.00 to $91.00 and gave the stock an "equal weight" rating in a research note on Thursday, February 6th. Finally, Piper Sandler upped their price target on shares of Charles Schwab from $65.00 to $70.00 and gave the company a "neutral" rating in a research note on Tuesday, January 7th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $86.33.

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.