Private Trust Co. NA Sells 373 Shares of The Charles Schwab Corporation $SCHW

Private Trust Co. NA cut its stake in The Charles Schwab Corporation (NYSE:SCHW) by 6.7% during the second quarter, HoldingsChannel reports. The fund owned 5,163 shares of the financial services provider’s stock after selling 373 shares during the quarter. Private Trust Co. NA’s holdings in Charles Schwab were worth $471,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Westside Investment Management Inc. increased its holdings in shares of Charles Schwab by 75.0% in the 1st quarter. Westside Investment Management Inc. now owns 350 shares of the financial services provider’s stock valued at $27,000 after acquiring an additional 150 shares during the period. RMG Wealth Management LLC purchased a new position in shares of Charles Schwab in the 2nd quarter valued at $27,000. CBIZ Investment Advisory Services LLC increased its holdings in shares of Charles Schwab by 97.9% in the 1st quarter. CBIZ Investment Advisory Services LLC now owns 386 shares of the financial services provider’s stock valued at $30,000 after acquiring an additional 191 shares during the period. Stone House Investment Management LLC purchased a new position in shares of Charles Schwab in the 1st quarter valued at $31,000. Finally, Activest Wealth Management increased its holdings in shares of Charles Schwab by 6,650.0% in the 1st quarter. Activest Wealth Management now owns 405 shares of the financial services provider’s stock valued at $32,000 after acquiring an additional 399 shares during the period. 84.38% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. BMO Capital Markets started coverage on Charles Schwab in a report on Friday, October 3rd. They issued an “outperform” rating and a $110.00 price target on the stock. Barclays boosted their target price on Charles Schwab from $114.00 to $115.00 and gave the stock an “overweight” rating in a research note on Friday. Truist Financial boosted their target price on Charles Schwab from $112.00 to $113.00 and gave the stock a “buy” rating in a research note on Friday. Wells Fargo & Company set a $102.00 target price on Charles Schwab and gave the stock an “overweight” rating in a research note on Friday, July 18th. Finally, Cowen restated a “buy” rating on shares of Charles Schwab in a research note on Friday. One research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $104.70.

Charles Schwab Stock Up 0.8%

Charles Schwab stock opened at $94.17 on Monday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.55 and a current ratio of 0.55. The business’s 50-day simple moving average is $94.68 and its two-hundred day simple moving average is $89.76. The company has a market cap of $170.93 billion, a PE ratio of 22.05, a PEG ratio of 0.88 and a beta of 0.97. The Charles Schwab Corporation has a fifty-two week low of $65.88 and a fifty-two week high of $99.59.

Charles Schwab (NYSE:SCHW) last posted its quarterly earnings results on Thursday, October 16th. The financial services provider reported $1.31 earnings per share for the quarter, beating the consensus estimate of $1.25 by $0.06. The business had revenue of $6.14 billion for the quarter, compared to the consensus estimate of $5.93 billion. Charles Schwab had a return on equity of 21.26% and a net margin of 35.93%.The company’s quarterly revenue was up 26.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.71 EPS. Equities analysts anticipate that The Charles Schwab Corporation will post 4.22 EPS for the current year.

Charles Schwab Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 22nd. Shareholders of record on Friday, August 8th were paid a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 1.1%. The ex-dividend date was Friday, August 8th. Charles Schwab’s payout ratio is presently 25.29%.

Charles Schwab declared that its Board of Directors has initiated a stock buyback plan on Thursday, July 24th that authorizes the company to repurchase $20.00 billion in shares. This repurchase authorization authorizes the financial services provider to buy up to 11.6% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling at Charles Schwab

In other news, General Counsel Peter J. Morgan III sold 50,016 shares of the business’s stock in a transaction dated Wednesday, August 27th. The stock was sold at an average price of $97.00, for a total value of $4,851,552.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jonathan S. Beatty sold 6,144 shares of the business’s stock in a transaction dated Thursday, August 28th. The shares were sold at an average price of $96.81, for a total value of $594,800.64. Following the completion of the transaction, the insider directly owned 11,923 shares of the company’s stock, valued at approximately $1,154,265.63. This trade represents a 34.01% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 267,128 shares of company stock worth $26,232,077. 6.30% of the stock is owned by corporate insiders.

Charles Schwab 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.