Hudson Bay Capital Management LP Takes Position in Charles Schwab Corp (SCHW)
Hudson Bay Capital Management LP bought a new position in Charles Schwab Corp (NYSE:SCHW) in the fourth quarter, Holdings Channel reports. The fund bought 20,683 shares of the financial services provider’s stock, valued at approximately $1,062,000.
A number of other large investors also recently bought and sold shares of SCHW. Bank of The West grew its position in shares of Charles Schwab by 1.9% during the 4th quarter. Bank of The West now owns 105,131 shares of the financial services provider’s stock valued at $5,400,000 after acquiring an additional 1,948 shares during the period. Atria Investments LLC grew its position in shares of Charles Schwab by 11.8% during the 4th quarter. Atria Investments LLC now owns 18,096 shares of the financial services provider’s stock valued at $930,000 after acquiring an additional 1,907 shares during the period. State of Alaska Department of Revenue grew its position in shares of Charles Schwab by 311.7% during the 4th quarter. State of Alaska Department of Revenue now owns 141,615 shares of the financial services provider’s stock valued at $7,272,000 after acquiring an additional 107,221 shares during the period. Peregrine Asset Advisers Inc. bought a new stake in shares of Charles Schwab during the 4th quarter valued at $5,306,000. Finally, Columbus Circle Investors bought a new stake in shares of Charles Schwab during the 3rd quarter valued at $49,394,000. 80.45% of the stock is owned by institutional investors and hedge funds.
A number of brokerages have recently issued reports on SCHW. Credit Suisse Group began coverage on shares of Charles Schwab in a research report on Thursday, November 30th. They set an “outperform” rating and a $55.00 price objective for the company. Wells Fargo & Co reissued a “market perform” rating and set a $55.00 price objective (up previously from $47.00) on shares of Charles Schwab in a research report on Thursday, January 4th. Zacks Investment Research raised shares of Charles Schwab from a “hold” rating to a “strong-buy” rating and set a $60.00 price objective for the company in a research report on Friday, January 5th. Morgan Stanley boosted their price objective on shares of Charles Schwab from $61.00 to $63.00 and gave the company an “overweight” rating in a research report on Tuesday, January 30th. Finally, Argus boosted their price objective on shares of Charles Schwab from $59.00 to $69.00 and gave the company a “buy” rating in a research report on Thursday, January 18th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $53.88.
Charles Schwab Corp (NYSE SCHW) opened at $52.63 on Friday. The firm has a market cap of $70,083.91, a price-to-earnings ratio of 32.69, a P/E/G ratio of 1.28 and a beta of 1.58. The company has a quick ratio of 0.30, a current ratio of 0.31 and a debt-to-equity ratio of 0.30. Charles Schwab Corp has a 1-year low of $37.16 and a 1-year high of $56.25.
Charles Schwab (NYSE:SCHW) last issued its earnings results on Wednesday, January 17th. The financial services provider reported $0.44 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.03. The company had revenue of $2.24 billion during the quarter, compared to the consensus estimate of $2.24 billion. Charles Schwab had a net margin of 27.32% and a return on equity of 16.03%. Charles Schwab’s quarterly revenue was up 13.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.36 EPS. analysts expect that Charles Schwab Corp will post 2.4 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, February 23rd. Investors of record on Friday, February 9th were issued a $0.10 dividend. The ex-dividend date was Thursday, February 8th. This represents a $0.40 annualized dividend and a yield of 0.76%. This is an increase from Charles Schwab’s previous quarterly dividend of $0.08. Charles Schwab’s dividend payout ratio is currently 24.84%.
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Charles Schwab Company Profile
The Charles Schwab Corporation (CSC) is a savings and loan holding company. The Company, through its subsidiaries, engages in wealth management, securities brokerage, banking, money management and financial advisory services. The Company provides financial services to individuals and institutional clients through two segments: Investor Services and Advisor Services.
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