Richard Bernstein Advisors LLC continued to hold its stake in shares of The Charles Schwab Corporation (NYSE:SCHW) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 154,879 shares of the financial services provider’s stock at the end of the second quarter. Richard Bernstein Advisors LLC’s holdings in The Charles Schwab Corporation were worth $6,654,000 as of its most recent filing with the SEC.
A number of other hedge funds have also modified their holdings of the company. WealthTrust Arizona LLC raised its stake in 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 worth $106,000 after buying an additional 29 shares during the last quarter. First Bank & Trust raised its stake 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 raised its stake 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. Shine Investment Advisory Services Inc. purchased a new stake in The Charles Schwab Corporation during the second quarter worth $145,000. Finally, FTB Advisors Inc. raised its stake 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. Institutional investors own 79.45% of the company’s stock.
Shares of The Charles Schwab Corporation (SCHW) opened at 39.64 on Friday. The firm has a market capitalization of $53.08 billion, a P/E ratio of 26.60 and a beta of 1.63. The stock has a 50 day moving average price of $42.00 and a 200 day moving average price of $40.95. 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 issued its earnings results on Tuesday, July 18th. The financial services provider reported $0.39 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.39. The Charles Schwab Corporation had a return on equity of 15.41% and a net margin of 26.73%. The business had revenue of $2.13 billion during the quarter, compared to analysts’ expectations of $2.13 billion. During the same period in the prior year, the firm posted $0.30 EPS. The Charles Schwab Corporation’s quarterly revenue was up 16.5% compared to the same quarter last year. Equities analysts anticipate that The Charles Schwab Corporation will post $1.61 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, August 25th. Investors of record on Friday, August 11th will be issued 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 0.81%. The Charles Schwab Corporation’s dividend payout ratio is 21.48%.
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A number of research firms recently weighed in on SCHW. BidaskClub lowered shares of The Charles Schwab Corporation from a “hold” rating to a “sell” rating in a research note on Monday, August 14th. Citigroup Inc. began coverage on shares of The Charles Schwab Corporation in a research note on Thursday, July 13th. They set a “neutral” rating and a $46.00 target price on the stock. Rosenblatt Securities began coverage on shares of The Charles Schwab Corporation in a research note on Thursday, July 13th. They set a “neutral” rating and a $46.00 target price on the stock. Deutsche Bank AG lowered shares of The Charles Schwab Corporation from a “buy” rating to a “hold” rating and upped their target price for the stock from $40.00 to $43.00 in a research note on Tuesday, July 11th. Finally, Wells Fargo & Company restated a “market perform” rating and set a $44.00 target price (up from $42.00) on shares of The Charles Schwab Corporation in a research note 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. The stock presently has an average rating of “Buy” and a consensus price target of $44.00.
In related news, EVP Terri R. Kallsen sold 10,536 shares of the firm’s stock in a transaction on Monday, July 3rd. The stock was sold at an average price of $43.15, for a total transaction of $454,628.40. Following the completion of the sale, the executive vice president now directly owns 5,212 shares of the company’s stock, valued at approximately $224,897.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Marie A. Chandoha sold 9,705 shares of the firm’s stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $43.17, for a total value of $418,964.85. The disclosure for this sale can be found here. Insiders have sold a total of 924,122 shares of company stock valued at $39,694,987 over the last ninety days. 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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