United Bank increased its stake in shares of The Charles Schwab Corporation (NYSE:SCHW) by 59.9% during the second quarter, Holdings Channel reports. The institutional investor owned 8,786 shares of the financial services provider’s stock after buying an additional 3,293 shares during the period. United Bank’s holdings in The Charles Schwab Corporation were worth $377,000 at the end of the most recent reporting period.
A number of other institutional investors also recently made changes to their positions in SCHW. WealthTrust Arizona LLC raised its position in shares of The Charles Schwab Corporation by 1.2% in the second quarter. WealthTrust Arizona LLC now owns 2,466 shares of the financial services provider’s stock valued at $106,000 after buying an additional 29 shares in the last quarter. Pinnacle Bank bought a new position in shares of The Charles Schwab Corporation during the first quarter valued at approximately $119,000. First Bank & Trust raised its position in shares of 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 valued at $128,000 after buying an additional 109 shares in the last quarter. YorkBridge Wealth Partners LLC raised its position in shares of 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 valued at $131,000 after buying an additional 287 shares in the last quarter. Finally, FTB Advisors Inc. raised its position in shares of 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 valued at $151,000 after buying an additional 3,025 shares in the last quarter. Institutional investors own 79.45% of the company’s stock.
Shares of The Charles Schwab Corporation (SCHW) opened at 40.65 on Monday. The firm has a market cap of $54.44 billion, a P/E ratio of 27.28 and a beta of 1.63. The Charles Schwab Corporation has a 12-month low of $29.23 and a 12-month high of $44.10. The firm has a 50-day moving average price of $42.68 and a 200-day moving average price of $41.04.
The Charles Schwab Corporation (NYSE:SCHW) last issued its quarterly earnings data on Tuesday, July 18th. The financial services provider reported $0.39 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.39. The firm had revenue of $2.13 billion during the quarter, compared to the consensus estimate of $2.13 billion. The Charles Schwab Corporation had a return on equity of 15.41% and a net margin of 26.73%. The firm’s revenue was up 16.5% on a year-over-year basis. During the same period in the prior year, the business earned $0.30 EPS. On average, equities research analysts expect that The Charles Schwab Corporation will post $1.61 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 25th. Investors of record on Friday, August 11th will be paid a dividend of $0.08 per share. The ex-dividend date is Wednesday, August 9th. This represents a $0.32 dividend on an annualized basis and a yield of 0.79%. The Charles Schwab Corporation’s payout ratio is currently 21.48%.
Several research firms have recently weighed in on SCHW. Jefferies Group LLC reissued a “buy” rating and issued a $48.00 price objective on shares of The Charles Schwab Corporation in a report on Wednesday, May 31st. Deutsche Bank AG reissued a “buy” rating and issued a $45.00 price objective (up from $44.00) on shares of The Charles Schwab Corporation in a report on Monday, May 15th. Citigroup Inc. reissued a “buy” rating and issued a $43.00 price objective (down from $45.00) on shares of The Charles Schwab Corporation in a report on Saturday, April 22nd. SunTrust Banks, Inc. decreased their price objective on The Charles Schwab Corporation from $45.00 to $44.00 and set a “buy” rating for the company in a report on Wednesday, April 19th. Finally, Keefe, Bruyette & Woods reissued a “buy” rating and issued a $46.00 price objective on shares of The Charles Schwab Corporation in a report on Friday, June 16th. Eight analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $44.00.
In other The Charles Schwab Corporation news, Chairman Charles R. Schwab sold 26,000 shares of the business’s stock in a transaction on Monday, July 31st. The stock was sold at an average price of $42.80, for a total transaction of $1,112,800.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Charles R. Schwab sold 290,000 shares of the business’s stock in a transaction 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 disclosure for this sale can be found here. Over the last 90 days, insiders have sold 924,122 shares of company stock valued at $39,694,987. 12.00% of the stock is owned by company insiders.
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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