Douglas Lane & Associates LLC boosted its stake in shares of The Charles Schwab Corporation (NYSE:SCHW) by 113.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 345,306 shares of the financial services provider’s stock after buying an additional 183,665 shares during the period. Douglas Lane & Associates LLC’s holdings in The Charles Schwab Corporation were worth $14,834,000 as of its most recent SEC filing.
Other large investors have also recently made changes to their positions in the company. Pinnacle Bank bought a new position in The Charles Schwab Corporation during the first quarter worth approximately $119,000. First Bank & Trust boosted its position in The Charles Schwab Corporation by 3.6% in the first quarter. First Bank & Trust now owns 3,125 shares of the financial services provider’s stock worth $128,000 after buying an additional 109 shares during the last quarter. YorkBridge Wealth Partners LLC boosted its position in The Charles Schwab Corporation by 9.6% in the first quarter. YorkBridge Wealth Partners LLC now owns 3,267 shares of the financial services provider’s stock worth $131,000 after buying an additional 287 shares during the last quarter. Quadrant Capital Group LLC boosted its position in The Charles Schwab Corporation by 6.4% in the first quarter. Quadrant Capital Group LLC now owns 3,449 shares of the financial services provider’s stock worth $133,000 after buying an additional 207 shares during the last quarter. Finally, FTB Advisors Inc. boosted its position in The Charles Schwab Corporation by 365.8% in the first quarter. FTB Advisors Inc. now owns 3,852 shares of the financial services provider’s stock worth $151,000 after buying an additional 3,025 shares during the last quarter. 79.25% of the stock is currently owned by institutional investors and hedge funds.
Shares of The Charles Schwab Corporation (SCHW) traded up 0.54% during midday trading on Friday, reaching $43.11. 4,507,607 shares of the company’s stock traded hands. The company has a market capitalization of $57.68 billion, a PE ratio of 28.93 and a beta of 1.63. The Charles Schwab Corporation has a 52 week low of $27.87 and a 52 week high of $44.10. The stock’s 50 day moving average is $42.64 and its 200-day moving average is $40.97.
The Charles Schwab Corporation (NYSE:SCHW) last issued its earnings results on Tuesday, July 18th. The financial services provider reported $0.39 EPS for the quarter, meeting analysts’ consensus estimates of $0.39. The Charles Schwab Corporation had a return on equity of 15.69% and a net margin of 26.73%. The firm had revenue of $2.13 billion for the quarter, compared to the consensus estimate of $2.13 billion. During the same quarter in the previous year, the company posted $0.30 earnings per share. The business’s quarterly revenue was up 16.5% compared to the same quarter last year. On average, analysts forecast that The Charles Schwab Corporation will post $1.61 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, August 25th. Shareholders of record on Friday, August 11th will be paid a $0.08 dividend. The ex-dividend date is Wednesday, August 9th. This represents a $0.32 dividend on an annualized basis and a yield of 0.74%. The Charles Schwab Corporation’s dividend payout ratio (DPR) is currently 21.48%.
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SCHW has been the topic of several recent research reports. Citigroup Inc. reiterated a “buy” rating and set a $43.00 target price (down from $45.00) on shares of The Charles Schwab Corporation in a report on Saturday, April 22nd. Deutsche Bank AG reiterated a “buy” rating and set a $45.00 target price (up from $44.00) on shares of The Charles Schwab Corporation in a report on Monday, May 15th. SunTrust Banks, Inc. dropped their target price on shares of The Charles Schwab Corporation from $45.00 to $44.00 and set a “buy” rating on the stock in a report on Wednesday, April 19th. Instinet reissued a “conviction-buy” rating and set a $46.00 price target (up from $44.00) on shares of The Charles Schwab Corporation in a research report on Friday, April 14th. Finally, Jefferies Group LLC increased their price target on shares of The Charles Schwab Corporation from $47.00 to $48.00 and gave the company a “buy” rating in a research report on Monday, April 24th. Eight research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $44.00.
In other The Charles Schwab Corporation news, Chairman Charles R. Schwab sold 290,000 shares of the company’s stock in a transaction that occurred on Friday, August 4th. The stock was sold at an average price of $43.27, for a total value of $12,548,300.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Joseph R. Martinetto sold 115,642 shares of the company’s stock in a transaction that occurred on Thursday, July 20th. The shares were sold at an average price of $42.10, for a total value of $4,868,528.20. Following the completion of the transaction, the executive vice president now directly owns 210,868 shares of the company’s stock, valued at approximately $8,877,542.80. The disclosure for this sale can be found here. Insiders sold 893,913 shares of company stock worth $38,402,586 in the last 90 days. Corporate insiders own 12.00% of the company’s stock.
About The Charles Schwab Corporation
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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