First Hawaiian Bank Lowers Holdings in The Charles Schwab Co. (NYSE:SCHW)

First Hawaiian Bank trimmed its position in The Charles Schwab Co. (NYSE:SCHW) by 2.6% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 105,510 shares of the financial services provider’s stock after selling 2,855 shares during the quarter. First Hawaiian Bank’s holdings in Charles Schwab were worth $7,775,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Argus Investors Counsel Inc. raised its position in shares of Charles Schwab by 4.0% in the 4th quarter. Argus Investors Counsel Inc. now owns 26,731 shares of the financial services provider’s stock worth $1,839,000 after acquiring an additional 1,035 shares in the last quarter. Trust Point Inc. bought a new position in shares of Charles Schwab in the 4th quarter worth $474,000. Ballentine Partners LLC raised its position in shares of Charles Schwab by 37.7% in the 4th quarter. Ballentine Partners LLC now owns 20,102 shares of the financial services provider’s stock worth $1,383,000 after acquiring an additional 5,501 shares in the last quarter. Advisory Alpha LLC acquired a new position in Charles Schwab during the 4th quarter valued at about $262,000. Finally, KG&L Capital Management LLC acquired a new position in Charles Schwab during the 4th quarter valued at about $236,000. 84.38% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Charles Schwab

In related news, CEO Walter W. Bettinger purchased 25,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 17th. The stock was purchased at an average price of $66.26 per share, with a total value of $1,656,500.00. Following the completion of the acquisition, the chief executive officer now owns 827,377 shares in the company, valued at $54,822,000.02. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Charles Schwab news, Director Carolyn Schwab-Pomerantz sold 13,113 shares of the firm’s stock in a transaction on Monday, May 6th. The stock was sold at an average price of $76.38, for a total transaction of $1,001,570.94. Following the completion of the sale, the director now owns 1,700,886 shares of the company’s stock, valued at $129,913,672.68. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Walter W. Bettinger bought 25,000 shares of the business’s stock in a transaction on Wednesday, July 17th. The shares were acquired at an average cost of $66.26 per share, with a total value of $1,656,500.00. Following the purchase, the chief executive officer now owns 827,377 shares of the company’s stock, valued at $54,822,000.02. The disclosure for this purchase can be found here. Over the last 90 days, insiders sold 352,489 shares of company stock valued at $25,598,796. 6.60% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several brokerages recently issued reports on SCHW. Bank of America reduced their target price on Charles Schwab from $72.00 to $66.00 and set an “underperform” rating on the stock in a research report on Wednesday, July 17th. UBS Group cut their price objective on Charles Schwab from $91.00 to $90.00 and set a “buy” rating on the stock in a report on Tuesday, July 9th. Barclays cut their price objective on Charles Schwab from $77.00 to $68.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 17th. JPMorgan Chase & Co. cut their price objective on Charles Schwab from $82.00 to $78.00 and set an “overweight” rating on the stock in a report on Wednesday, July 17th. Finally, Deutsche Bank Aktiengesellschaft cut their price objective on Charles Schwab from $84.00 to $79.00 and set a “buy” rating on the stock in a report on Wednesday, July 17th. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $74.27.

Charles Schwab Price Performance

SCHW stock traded down $0.32 during mid-day trading on Friday, reaching $63.39. 10,258,521 shares of the company’s stock were exchanged, compared to its average volume of 12,778,258. The company has a market cap of $112.66 billion, a price-to-earnings ratio of 26.52, a price-to-earnings-growth ratio of 1.19 and a beta of 0.99. The stock’s 50 day moving average is $70.99 and its 200 day moving average is $70.05. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.42 and a quick ratio of 0.42. The Charles Schwab Co. has a 12-month low of $48.66 and a 12-month high of $79.49.

Charles Schwab (NYSE:SCHW) last issued its quarterly earnings results on Tuesday, July 16th. The financial services provider reported $0.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.72 by $0.01. The company had revenue of $4.69 billion for the quarter, compared to the consensus estimate of $4.68 billion. Charles Schwab had a return on equity of 18.65% and a net margin of 26.30%. Charles Schwab’s revenue for the quarter was up .7% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.75 earnings per share. On average, research analysts expect that The Charles Schwab Co. will post 3.09 EPS for the current year.

Charles Schwab Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 23rd. Investors of record on Friday, August 9th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Friday, August 9th. This represents a $1.00 annualized dividend and a dividend yield of 1.58%. Charles Schwab’s dividend payout ratio is presently 41.84%.

About Charles Schwab

The Charles Schwab Corporation, together with its subsidiaries, operates as a savings and loan holding company that provides wealth management, securities brokerage, banking, asset management, custody, and financial advisory services in the United States and internationally. The company operates in two segments, Investor Services and Advisor Services.