Busey Wealth Management Sells 5,254 Shares of The Charles Schwab Co. (NYSE:SCHW)

Busey Wealth Management trimmed its stake in shares of The Charles Schwab Co. (NYSE:SCHWGet Rating) by 5.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 89,905 shares of the financial services provider’s stock after selling 5,254 shares during the quarter. Busey Wealth Management’s holdings in Charles Schwab were worth $7,579,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently modified their holdings of SCHW. Norges Bank bought a new position in shares of Charles Schwab during the fourth quarter worth about $1,127,795,000. Baillie Gifford & Co. bought a new stake in Charles Schwab in the fourth quarter worth approximately $631,278,000. State Street Corp increased its holdings in Charles Schwab by 6.6% in the fourth quarter. State Street Corp now owns 69,667,441 shares of the financial services provider’s stock worth $5,859,032,000 after purchasing an additional 4,305,161 shares in the last quarter. Allspring Global Investments Holdings LLC bought a new stake in Charles Schwab in the fourth quarter worth approximately $139,544,000. Finally, Brown Advisory Inc. increased its holdings in Charles Schwab by 77.1% in the fourth quarter. Brown Advisory Inc. now owns 3,726,806 shares of the financial services provider’s stock worth $313,425,000 after purchasing an additional 1,622,110 shares in the last quarter. Institutional investors own 87.13% of the company’s stock.

In related news, CEO Walter W. Bettinger bought 36,640 shares of the company’s stock in a transaction that occurred on Monday, April 25th. The stock was bought at an average cost of $69.49 per share, for a total transaction of $2,546,113.60. Following the acquisition, the chief executive officer now directly owns 329,265 shares of the company’s stock, valued at approximately $22,880,624.85. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Walter W. Bettinger acquired 63,188 shares of the company’s stock in a transaction on Friday, April 29th. The stock was acquired at an average price of $67.07 per share, with a total value of $4,238,019.16. Following the acquisition, the chief executive officer now owns 432,625 shares in the company, valued at approximately $29,016,158.75. The disclosure for this purchase can be found here. Over the last quarter, insiders have purchased 104,169 shares of company stock worth $7,081,708. 6.90% of the stock is currently owned by corporate insiders.

A number of equities research analysts have weighed in on SCHW shares. Deutsche Bank Aktiengesellschaft lowered their target price on Charles Schwab from $84.00 to $80.00 and set a “buy” rating for the company in a report on Tuesday. UBS Group upgraded Charles Schwab from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $68.00 to $75.00 in a report on Tuesday, June 21st. JPMorgan Chase & Co. lowered their target price on Charles Schwab from $107.00 to $101.00 in a report on Thursday, April 14th. Redburn Partners assumed coverage on Charles Schwab in a report on Thursday, June 23rd. They set a “neutral” rating for the company. Finally, The Goldman Sachs Group assumed coverage on Charles Schwab in a report on Tuesday, April 26th. They set a “neutral” rating and a $75.00 price objective for the company. Four equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $92.93.

Shares of NYSE:SCHW traded down $0.43 during mid-day trading on Friday, hitting $62.75. 49,361 shares of the company traded hands, compared to its average volume of 8,833,984. The stock has a market cap of $114.02 billion, a P/E ratio of 22.89, a P/E/G ratio of 0.74 and a beta of 1.09. The company has a current ratio of 0.44, a quick ratio of 0.44 and a debt-to-equity ratio of 0.58. The Charles Schwab Co. has a 12-month low of $59.35 and a 12-month high of $96.24. The stock has a 50-day moving average price of $65.72 and a two-hundred day moving average price of $79.07.

Charles Schwab (NYSE:SCHWGet Rating) last announced its earnings results on Monday, April 18th. The financial services provider reported $0.77 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.85 by ($0.08). Charles Schwab had a net margin of 31.24% and a return on equity of 13.67%. The company had revenue of $4.67 billion for the quarter, compared to analysts’ expectations of $4.82 billion. During the same period in the previous year, the firm earned $0.84 EPS. The firm’s quarterly revenue was down .9% on a year-over-year basis. As a group, analysts expect that The Charles Schwab Co. will post 3.88 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 27th. Investors of record on Friday, May 13th were paid a dividend of $0.20 per share. The ex-dividend date was Thursday, May 12th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.27%. Charles Schwab’s payout ratio is 28.99%.

Charles Schwab Profile (Get Rating)

The Charles Schwab Corporation, together with its subsidiaries, provides wealth management, securities brokerage, banking, asset management, custody, and financial advisory services. The company operates in two segments, Investor Services and Advisor Services. The Investor Services segment provides retail brokerage, investment advisory, banking and trust, retirement plan, and other corporate brokerage services; equity compensation plan sponsors full-service recordkeeping for stock plans, stock options, restricted stock, performance shares, and stock appreciation rights; and retail investor and mutual fund clearing services, as well as compliance solutions.

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Institutional Ownership by Quarter for Charles Schwab (NYSE:SCHW)

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