Eagle Ridge Investment Management increased its stake in The Charles Schwab Corporation (NYSE:SCHW) by 0.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 243,038 shares of the financial services provider’s stock after buying an additional 1,905 shares during the period. The Charles Schwab Corporation comprises 2.0% of Eagle Ridge Investment Management’s holdings, making the stock its 10th largest position. Eagle Ridge Investment Management’s holdings in The Charles Schwab Corporation were worth $10,398,000 as of its most recent SEC filing.
Other large investors also recently bought and sold shares of the company. First Manhattan Co. raised its stake in The Charles Schwab Corporation by 395.9% in the first quarter. First Manhattan Co. now owns 1,252,265 shares of the financial services provider’s stock valued at $39,534,000 after buying an additional 999,750 shares during the period. 1ST Source Bank raised its position in shares of The Charles Schwab Corporation by 65.7% in the first quarter. 1ST Source Bank now owns 52,583 shares of the financial services provider’s stock worth $2,146,000 after buying an additional 20,847 shares during the period. Bank of Montreal Can raised its position in shares of The Charles Schwab Corporation by 25.4% in the first quarter. Bank of Montreal Can now owns 1,125,778 shares of the financial services provider’s stock worth $45,943,000 after buying an additional 227,859 shares during the period. Reilly Financial Advisors LLC raised its position in shares of The Charles Schwab Corporation by 10.0% in the first quarter. Reilly Financial Advisors LLC now owns 4,571 shares of the financial services provider’s stock worth $187,000 after buying an additional 415 shares during the period. Finally, First Mercantile Trust Co. raised its position in shares of The Charles Schwab Corporation by 10.5% in the first quarter. First Mercantile Trust Co. now owns 78,728 shares of the financial services provider’s stock worth $3,213,000 after buying an additional 7,496 shares during the period. Hedge funds and other institutional investors own 79.45% of the company’s stock.
Shares of The Charles Schwab Corporation (SCHW) opened at 41.12 on Tuesday. The company’s 50-day moving average price is $42.67 and its 200 day moving average price is $41.02. The firm has a market capitalization of $55.06 billion, a PE ratio of 27.60 and a beta of 1.63. The Charles Schwab Corporation has a 12-month low of $29.86 and a 12-month high of $44.10.
The Charles Schwab Corporation (NYSE:SCHW) last announced its quarterly earnings data on Tuesday, July 18th. The financial services provider reported $0.39 earnings per share for the quarter, meeting the consensus estimate of $0.39. The business had revenue of $2.13 billion during the quarter, compared to analyst estimates of $2.13 billion. The Charles Schwab Corporation had a return on equity of 15.41% and a net margin of 26.73%. The Charles Schwab Corporation’s revenue was up 16.5% compared to the same quarter last year. During the same period in the prior year, the company earned $0.30 earnings per share. On average, equities analysts forecast that The Charles Schwab Corporation will post $1.61 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, August 25th. Shareholders of record on Friday, August 11th will be given a dividend of $0.08 per share. The ex-dividend date of this dividend is Wednesday, August 9th. This represents a $0.32 annualized dividend and a dividend yield of 0.78%. The Charles Schwab Corporation’s dividend payout ratio is currently 21.48%.
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A number of research analysts have recently commented on SCHW shares. Deutsche Bank AG cut their price target on The Charles Schwab Corporation from $46.00 to $45.00 and set a “buy” rating for the company in a report on Tuesday, April 18th. SunTrust Banks, Inc. cut their target price on The Charles Schwab Corporation from $45.00 to $44.00 and set a “buy” rating for the company in a research note on Wednesday, April 19th. Citigroup Inc. restated a “buy” rating and issued a $43.00 target price (down from $45.00) on shares of The Charles Schwab Corporation in a research note on Saturday, April 22nd. Jefferies Group LLC upped their target price on The Charles Schwab Corporation from $47.00 to $48.00 and gave the company a “buy” rating in a research note on Monday, April 24th. Finally, Wells Fargo & Company reiterated a “market perform” rating and issued a $44.00 price target (up from $42.00) on shares of The Charles Schwab Corporation in a research report on Monday, June 12th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and twelve have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $44.00.
In related news, Chairman Charles R. Schwab sold 26,000 shares of the stock in a transaction on Monday, July 31st. The stock was sold at an average price of $42.80, for a total value of $1,112,800.00. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Marie A. Chandoha sold 7,002 shares of the stock in a transaction on Wednesday, August 9th. The stock was sold at an average price of $41.96, for a total value of $293,803.92. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 924,122 shares of company stock worth $39,694,987. Company 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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