Wesbanco Bank Inc. Acquires 2,120 Shares of The Charles Schwab Co. (NYSE:SCHW)

Wesbanco Bank Inc. grew its holdings in shares of The Charles Schwab Co. (NYSE:SCHW) by 49.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,372 shares of the financial services provider’s stock after acquiring an additional 2,120 shares during the period. Wesbanco Bank Inc.’s holdings in Charles Schwab were worth $472,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. State Street Corp grew its holdings in Charles Schwab by 0.7% during the third 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 period. Geode Capital Management LLC grew its stake in shares of Charles Schwab by 1.5% during the 3rd quarter. Geode Capital Management LLC now owns 30,141,441 shares of the financial services provider’s stock valued at $1,945,614,000 after acquiring an additional 445,304 shares during the period. Massachusetts Financial Services Co. MA increased its holdings in Charles Schwab by 6.3% in 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 acquiring an additional 1,711,312 shares in the last quarter. Franklin Resources Inc. raised its stake in 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 worth $1,644,674,000 after acquiring an additional 3,157,923 shares during the period. Finally, Fisher Asset Management LLC lifted its holdings in Charles Schwab by 2.5% during the third quarter. Fisher Asset Management LLC now owns 20,189,558 shares of the financial services provider’s stock valued at $1,308,485,000 after purchasing an additional 493,264 shares in the last quarter. 84.38% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Redburn Partners decreased their price objective on shares of Charles Schwab from $70.00 to $68.00 and set a “sell” rating on the stock in a research report on Friday, January 17th. JMP Securities reissued a “market outperform” rating and issued a $94.00 price target (up from $84.00) on shares of Charles Schwab in a report on Monday, December 9th. Barclays raised their target price on shares of Charles Schwab from $95.00 to $96.00 and gave the company an “overweight” rating in a research note on Wednesday. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Charles Schwab from $98.00 to $105.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, JPMorgan Chase & Co. lifted their target price on Charles Schwab from $87.00 to $93.00 and gave the stock an “overweight” rating in a report on Tuesday, January 7th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $83.83.

Insider Activity at Charles Schwab

In related news, General Counsel Peter J. Morgan III sold 14,643 shares of Charles Schwab stock in a transaction that occurred on Wednesday, January 22nd. The shares were sold at an average price of $80.70, for a total transaction of $1,181,690.10. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Jonathan S. Beatty sold 2,300 shares of the company’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $82.01, for a total value of $188,623.00. Following the sale, the insider now owns 18,069 shares of the company’s stock, valued at approximately $1,481,838.69. This represents a 11.29 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 41,466 shares of company stock worth $3,352,884 over the last three months. 6.60% of the stock is owned by corporate insiders.

Charles Schwab Stock Down 0.5 %

Shares of NYSE:SCHW opened at $81.67 on Friday. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.47 and a quick ratio of 0.47. The business has a 50 day simple moving average of $77.78 and a two-hundred day simple moving average of $70.82. The Charles Schwab Co. has a 1 year low of $61.01 and a 1 year high of $83.35. The firm has a market capitalization of $145.34 billion, a PE ratio of 27.31, a price-to-earnings-growth ratio of 1.46 and a beta of 0.99.

Charles Schwab (NYSE:SCHW) last issued its earnings results on Tuesday, January 21st. The financial services provider reported $1.01 EPS for the quarter, topping analysts’ consensus estimates of $0.90 by $0.11. The business had revenue of $5.33 billion for the quarter, compared to the consensus estimate of $5,190,822.51 billion. Charles Schwab had a net margin of 30.31% and a return on equity of 18.20%. The company’s revenue for the quarter was up 19.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.68 EPS. On average, equities analysts predict that The Charles Schwab Co. will post 4.09 EPS for the current year.

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.