Balboa Wealth Partners Has $834,000 Stock Holdings in The Charles Schwab Corporation (NYSE:SCHW)

Balboa Wealth Partners boosted its holdings in shares of The Charles Schwab Corporation (NYSE:SCHW) by 31.2% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 10,656 shares of the financial services provider’s stock after acquiring an additional 2,535 shares during the quarter. Balboa Wealth Partners’ holdings in Charles Schwab were worth $834,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Atwood & Palmer Inc. purchased a new stake in Charles Schwab in the 1st quarter worth approximately $25,000. WFA Asset Management Corp acquired a new stake in Charles Schwab during the first quarter valued at $33,000. Murphy & Mullick Capital Management Corp purchased a new position in Charles Schwab in the fourth quarter valued at about $38,000. Beacon Capital Management LLC increased its position in Charles Schwab by 53.1% in the 1st quarter. Beacon Capital Management LLC now owns 487 shares of the financial services provider’s stock worth $38,000 after purchasing an additional 169 shares during the last quarter. Finally, Atala Financial Inc purchased a new stake in shares of Charles Schwab during the 4th quarter worth about $41,000. Hedge funds and other institutional investors own 84.38% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. JMP Securities reissued a “market outperform” rating and issued a $94.00 price target on shares of Charles Schwab in a research note on Monday, April 21st. Cowen reissued a “buy” rating on shares of Charles Schwab in a research report on Tuesday, May 20th. Morgan Stanley upped their price objective on shares of Charles Schwab from $76.00 to $83.00 and gave the stock an “overweight” rating in a report on Tuesday, May 13th. Keefe, Bruyette & Woods raised their target price on Charles Schwab from $90.00 to $93.00 and gave the company an “outperform” rating in a report on Tuesday, April 22nd. Finally, Piper Sandler upped their price target on Charles Schwab from $74.00 to $80.00 in a research note on Thursday, April 17th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat, Charles Schwab has an average rating of “Moderate Buy” and a consensus target price of $89.40.

Charles Schwab Stock Performance

Shares of NYSE SCHW opened at $88.30 on Tuesday. The firm has a market capitalization of $160.44 billion, a price-to-earnings ratio of 26.76, a PEG ratio of 0.95 and a beta of 0.94. The Charles Schwab Corporation has a one year low of $61.01 and a one year high of $90.60. The business has a fifty day simple moving average of $85.04 and a 200 day simple moving average of $80.15. The company has a current ratio of 0.53, a quick ratio of 0.53 and a debt-to-equity ratio of 0.53.

Charles Schwab (NYSE:SCHW) last announced its quarterly earnings results on Thursday, April 17th. The financial services provider reported $1.04 EPS for the quarter, topping analysts’ consensus estimates of $1.01 by $0.03. Charles Schwab had a net margin of 31.71% and a return on equity of 18.31%. The firm had revenue of $5.60 billion during the quarter, compared to analysts’ expectations of $5.46 billion. During the same quarter last year, the company earned $0.74 earnings per share. Sell-side analysts expect that The Charles Schwab Corporation will post 4.22 EPS for the current year.

Charles Schwab Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, May 23rd. Investors of record on Friday, May 9th were issued a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 1.22%. The ex-dividend date of this dividend was Friday, May 9th. Charles Schwab’s dividend payout ratio is currently 32.73%.

Insider Transactions at Charles Schwab

In related news, insider Jonathan M. Craig sold 47,500 shares of the company’s stock in a transaction dated Wednesday, May 21st. The shares were sold at an average price of $88.46, for a total transaction of $4,201,850.00. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Jonathan S. Beatty sold 2,850 shares of the firm’s stock in a transaction dated Friday, May 30th. The shares were sold at an average price of $87.57, for a total transaction of $249,574.50. Following the completion of the sale, the insider now owns 15,219 shares of the company’s stock, valued at $1,332,727.83. The trade was a 15.77% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 119,995 shares of company stock valued at $10,493,320. Corporate insiders own 6.30% of the company’s stock.

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.