AMG National Trust Bank Trims Stock Holdings in The Charles Schwab Co. (NYSE:SCHW)

AMG National Trust Bank cut its holdings in shares of The Charles Schwab Co. (NYSE:SCHW) by 15.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 80,496 shares of the financial services provider’s stock after selling 14,651 shares during the period. AMG National Trust Bank’s holdings in Charles Schwab were worth $5,217,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of SCHW. Price T Rowe Associates Inc. MD raised its position in Charles Schwab by 4.2% during the 1st 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 buying an additional 2,946,327 shares during the last quarter. Legal & General Group Plc raised its holdings 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 purchasing an additional 225,397 shares in the last quarter. Allen Investment Management LLC lifted its position in Charles Schwab by 3.0% in the second quarter. Allen Investment Management LLC now owns 8,712,364 shares of the financial services provider’s stock valued at $642,014,000 after purchasing an additional 251,485 shares during the period. Lazard Asset Management LLC boosted its holdings in 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 purchasing an additional 596,589 shares in the last quarter. Finally, Principal Financial Group Inc. increased its position in Charles Schwab by 0.6% during the 3rd quarter. Principal Financial Group Inc. now owns 6,673,901 shares of the financial services provider’s stock worth $432,536,000 after purchasing an additional 38,201 shares during the period. 84.38% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

SCHW has been the topic of several research analyst reports. Morgan Stanley boosted their target price on shares of Charles Schwab from $68.00 to $74.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 24th. Wells Fargo & Company increased their target price on shares of Charles Schwab from $70.00 to $75.00 and gave the company an “equal weight” rating in a report on Wednesday, October 16th. JPMorgan Chase & Co. boosted their price target on Charles Schwab from $86.00 to $87.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 16th. Bank of America lowered their price target on shares of Charles Schwab from $63.00 to $61.00 and set an “underperform” rating on the stock in a research report on Wednesday, October 16th. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on Charles Schwab from $77.00 to $80.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $74.18.

Charles Schwab Stock Up 0.6 %

Shares of SCHW opened at $80.64 on Monday. The Charles Schwab Co. has a fifty-two week low of $55.09 and a fifty-two week high of $82.50. The company’s fifty day moving average is $68.74 and its two-hundred day moving average is $69.59. The firm has a market cap of $143.51 billion, a PE ratio of 31.50, a price-to-earnings-growth ratio of 1.76 and a beta of 0.96. The company has a quick ratio of 0.42, a current ratio of 0.47 and a debt-to-equity ratio of 0.59.

Charles Schwab (NYSE:SCHW) last issued 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. The firm had revenue of $4.85 billion for the quarter, compared to analysts’ expectations of $4.78 billion. Charles Schwab had a return on equity of 16.92% and a net margin of 27.47%. The firm’s revenue for the quarter was up 5.2% compared to the same quarter last year. During the same quarter last year, the firm earned $0.77 earnings per share. Analysts forecast that The Charles Schwab Co. will post 3.12 earnings per share for the current year.

Charles Schwab Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Friday, November 8th will be paid a dividend of $0.25 per share. The ex-dividend date is Friday, November 8th. This represents a $1.00 annualized dividend and a yield of 1.24%. Charles Schwab’s dividend payout ratio is currently 39.06%.

Insider Buying and Selling

In other Charles Schwab news, insider Jonathan S. Beatty sold 2,500 shares of Charles Schwab stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $77.02, for a total transaction of $192,550.00. Following the sale, the insider now directly owns 18,069 shares in the company, valued at $1,391,674.38. The trade was a 12.15 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $64.05, for a total transaction 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. The trade was a 1.60 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 103,645 shares of company stock valued at $7,440,627. 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.