Busey Bank Purchases 3,025 Shares of The Charles Schwab Co. (NYSE:SCHW)

Busey Bank grew its holdings in The Charles Schwab Co. (NYSE:SCHW) by 1.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 220,607 shares of the financial services provider’s stock after acquiring an additional 3,025 shares during the quarter. Busey Bank’s holdings in Charles Schwab were worth $16,327,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Stablepoint Partners LLC boosted its position in shares of Charles Schwab by 1.1% during the 4th quarter. Stablepoint Partners LLC now owns 12,486 shares of the financial services provider’s stock worth $924,000 after acquiring an additional 141 shares in the last quarter. Alliance Wealth Advisors LLC boosted its holdings in shares of Charles Schwab by 2.7% in the 3rd quarter. Alliance Wealth Advisors LLC now owns 5,358 shares of the financial services provider’s stock valued at $347,000 after purchasing an additional 142 shares in the last quarter. Michael S. Ryan Inc. increased its stake in shares of Charles Schwab by 2.5% in the 4th quarter. Michael S. Ryan Inc. now owns 5,998 shares of the financial services provider’s stock valued at $444,000 after purchasing an additional 144 shares during the last quarter. GS Investments Inc. raised its holdings in shares of Charles Schwab by 0.3% during the 3rd quarter. GS Investments Inc. now owns 57,434 shares of the financial services provider’s stock worth $3,722,000 after buying an additional 146 shares in the last quarter. Finally, Relyea Zuckerberg Hanson LLC lifted its position in shares of Charles Schwab by 2.8% during the 4th quarter. Relyea Zuckerberg Hanson LLC now owns 5,413 shares of the financial services provider’s stock worth $401,000 after buying an additional 148 shares during the last quarter. Institutional investors and hedge funds own 84.38% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Jefferies Financial Group boosted their target price on Charles Schwab from $84.00 to $94.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. Barclays upped their price objective on shares of Charles Schwab from $95.00 to $96.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 22nd. Wells Fargo & Company upgraded shares of Charles Schwab from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $89.00 to $93.00 in a research report on Wednesday, January 22nd. Cowen upped their price target on shares of Charles Schwab from $69.00 to $75.00 and gave the stock a “hold” rating in a report on Tuesday, October 15th. Finally, Piper Sandler raised their price objective on Charles Schwab from $65.00 to $70.00 and gave the company a “neutral” rating in a report on Tuesday, January 7th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $84.11.

Insider Activity

In other news, insider Jonathan S. Beatty sold 2,300 shares of the business’s stock in a transaction dated Monday, November 25th. The shares were 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. The trade was a 11.29 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Christopher V. Dodds sold 9,284 shares of the firm’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $81.43, for a total transaction of $755,996.12. Following the completion of the transaction, the director now directly owns 442,807 shares in the company, valued at approximately $36,057,774.01. The trade was a 2.05 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 50,014 shares of company stock worth $4,052,281. Company insiders own 6.60% of the company’s stock.

Charles Schwab Price Performance

SCHW stock opened at $82.13 on Thursday. 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 firm has a market cap of $146.17 billion, a price-to-earnings ratio of 27.47, a PEG ratio of 1.46 and a beta of 0.99. The company’s fifty day simple moving average is $77.86 and its 200 day simple moving average is $70.92. The Charles Schwab Co. has a 12-month low of $61.01 and a 12-month high of $83.35.

Charles Schwab (NYSE:SCHW) last announced its earnings results on Tuesday, January 21st. The financial services provider reported $1.01 EPS for the quarter, beating the consensus estimate of $0.90 by $0.11. Charles Schwab had a return on equity of 18.20% and a net margin of 30.31%. The company had revenue of $5.33 billion for the quarter, compared to analyst estimates of $5.19 billion. During the same quarter in the prior year, the company earned $0.68 EPS. The firm’s revenue for the quarter was up 19.5% compared to the same quarter last year. On average, analysts expect that The Charles Schwab Co. will post 4.09 earnings per share for the current year.

Charles Schwab Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Friday, February 14th will be issued a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 1.31%. This is a boost from Charles Schwab’s previous quarterly dividend of $0.25. Charles Schwab’s dividend payout ratio (DPR) is presently 33.44%.

Charles Schwab 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.