The Charles Schwab Co. (NYSE:SCHW) Shares Purchased by Columbia Asset Management

Columbia Asset Management increased its position in shares of The Charles Schwab Co. (NYSE:SCHW) by 42.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 24,929 shares of the financial services provider’s stock after purchasing an additional 7,378 shares during the period. Columbia Asset Management’s holdings in Charles Schwab were worth $1,837,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. First Business Financial Services Inc. lifted its stake in shares of Charles Schwab by 23.1% in the 2nd quarter. First Business Financial Services Inc. now owns 4,976 shares of the financial services provider’s stock valued at $367,000 after purchasing an additional 935 shares during the last quarter. First Dallas Securities Inc. boosted its stake in Charles Schwab by 3.4% during the second quarter. First Dallas Securities Inc. now owns 24,001 shares of the financial services provider’s stock worth $1,769,000 after buying an additional 786 shares during the period. Deseret Mutual Benefit Administrators increased its position in shares of Charles Schwab by 44.5% during the second quarter. Deseret Mutual Benefit Administrators now owns 2,638 shares of the financial services provider’s stock valued at $194,000 after acquiring an additional 812 shares during the last quarter. Mayflower Financial Advisors LLC raised its stake in shares of Charles Schwab by 2.9% in the 2nd quarter. Mayflower Financial Advisors LLC now owns 7,634 shares of the financial services provider’s stock valued at $563,000 after acquiring an additional 218 shares during the period. Finally, TD Asset Management Inc lifted its holdings in shares of Charles Schwab by 3.5% in the 2nd quarter. TD Asset Management Inc now owns 536,906 shares of the financial services provider’s stock worth $39,565,000 after acquiring an additional 18,121 shares during the last quarter. 84.38% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Barclays cut their target price on Charles Schwab from $77.00 to $68.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 17th. Bank of America decreased their target price on Charles Schwab from $72.00 to $66.00 and set an “underperform” rating on the stock in a research note on Wednesday, July 17th. JMP Securities dropped their target price on Charles Schwab from $85.00 to $82.00 and set a “market outperform” rating for the company in a research report on Tuesday, July 23rd. Piper Sandler cut shares of Charles Schwab from an “overweight” rating to a “neutral” rating and reduced their price target for the stock from $80.00 to $64.00 in a research report on Monday, July 29th. Finally, Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $80.00 price objective on shares of Charles Schwab in a research note on Thursday, August 22nd. Three 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. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $74.00.

Insider Transactions at Charles Schwab

In other news, Director Carolyn Schwab-Pomerantz sold 12,320 shares of the stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $65.10, for a total value of $802,032.00. Following the completion of the sale, the director now directly owns 562,129 shares of the company’s stock, valued at $36,594,597.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Charles Schwab news, Chairman Charles R. Schwab sold 67,386 shares of the stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $65.11, for a total value of $4,387,502.46. Following the completion of the transaction, the chairman now owns 60,619,371 shares in the company, valued at $3,946,927,245.81. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Carolyn Schwab-Pomerantz sold 12,320 shares of the business’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $65.10, for a total transaction of $802,032.00. Following the sale, the director now owns 562,129 shares in the company, valued at $36,594,597.90. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 107,800 shares of company stock worth $7,145,364. Corporate insiders own 6.60% of the company’s stock.

Charles Schwab Trading Down 0.3 %

SCHW opened at $63.69 on Friday. The business’s 50-day simple moving average is $66.66 and its 200-day simple moving average is $70.07. The company has a market cap of $113.27 billion, a P/E ratio of 26.65, a PEG ratio of 1.22 and a beta of 0.97. The Charles Schwab Co. has a one year low of $48.66 and a one year high of $79.49. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.42 and a current ratio of 0.42.

Charles Schwab (NYSE:SCHW) last released its quarterly earnings data on Tuesday, July 16th. The financial services provider reported $0.73 earnings per share 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 analysts’ expectations of $4.68 billion. Charles Schwab had a net margin of 26.30% and a return on equity of 18.14%. The firm’s revenue for the quarter was up .7% on a year-over-year basis. During the same quarter last year, the company earned $0.75 earnings per share. As a group, equities research analysts expect that The Charles Schwab Co. will post 3.05 EPS for the current fiscal year.

Charles Schwab Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Friday, August 9th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.57%. The ex-dividend date of this dividend was Friday, August 9th. Charles Schwab’s payout ratio is 41.84%.

Charles Schwab Company Profile

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.