Wedbush Securities Inc. Buys 2,121 Shares of The Charles Schwab Corporation $SCHW

Wedbush Securities Inc. grew its position in shares of The Charles Schwab Corporation (NYSE:SCHW) by 13.1% in the 2nd quarter, HoldingsChannel reports. The fund owned 18,285 shares of the financial services provider’s stock after buying an additional 2,121 shares during the period. Wedbush Securities Inc.’s holdings in Charles Schwab were worth $1,668,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of SCHW. Princeton Global Asset Management LLC purchased a new stake in Charles Schwab in the 2nd quarter valued at about $25,000. RMG Wealth Management LLC purchased a new stake in Charles Schwab during the 2nd quarter worth about $27,000. Mid American Wealth Advisory Group Inc. bought a new position in shares of Charles Schwab in the second quarter valued at approximately $32,000. Hoese & Co LLP boosted its holdings in Charles Schwab by 131.6% in the 2nd quarter. Hoese & Co LLP now owns 352 shares of the financial services provider’s stock valued at $32,000 after purchasing an additional 200 shares during the period. Finally, CBIZ Investment Advisory Services LLC boosted its stake in Charles Schwab by 97.9% during the first quarter. CBIZ Investment Advisory Services LLC now owns 386 shares of the financial services provider’s stock valued at $30,000 after buying an additional 191 shares during the period. 84.38% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Weiss Ratings reiterated a “hold (c+)” rating on shares of Charles Schwab in a research report on Wednesday, October 8th. Citigroup raised their price target on shares of Charles Schwab from $105.00 to $110.00 and gave the stock a “buy” rating in a report on Monday, July 21st. Raymond James Financial restated an “outperform” rating and set a $99.00 price target on shares of Charles Schwab in a report on Friday, July 18th. JMP Securities reissued a “market outperform” rating and set a $110.00 price objective on shares of Charles Schwab in a research report on Friday, October 17th. Finally, Deutsche Bank Aktiengesellschaft increased their target price on Charles Schwab from $119.00 to $120.00 and gave the stock a “buy” rating in a research report on Friday, October 17th. One equities 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 assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $106.45.

Insider Buying and Selling at Charles Schwab

In other news, insider Paul V. Woolway sold 3,205 shares of Charles Schwab stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $93.33, for a total transaction of $299,122.65. Following the transaction, the insider owned 34,778 shares in the company, valued at $3,245,830.74. This trade represents a 8.44% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, General Counsel Peter J. Morgan III sold 50,016 shares of Charles Schwab stock in a transaction on Wednesday, August 27th. The shares were sold at an average price of $97.00, for a total value of $4,851,552.00. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 65,866 shares of company stock valued at $6,370,897. 6.30% of the stock is owned by company insiders.

Charles Schwab Price Performance

Shares of NYSE SCHW opened at $95.33 on Friday. The firm has a market cap of $173.05 billion, a P/E ratio of 22.33, a PEG ratio of 0.85 and a beta of 1.02. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 0.47. The Charles Schwab Corporation has a twelve month low of $65.88 and a twelve month high of $99.59. The company has a 50 day moving average of $94.03 and a 200 day moving average of $91.87.

Charles Schwab (NYSE:SCHW) last released its quarterly earnings data on Thursday, October 16th. The financial services provider reported $1.31 EPS for the quarter, beating the consensus estimate of $1.25 by $0.06. The company had revenue of $6.38 billion for the quarter, compared to analysts’ expectations of $5.93 billion. Charles Schwab had a return on equity of 21.26% and a net margin of 35.93%.Charles Schwab’s revenue was up 26.6% compared to the same quarter last year. During the same period last year, the firm posted $0.71 earnings per share. As a group, research analysts expect that The Charles Schwab Corporation will post 4.22 EPS for the current fiscal year.

Charles Schwab Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 28th. Stockholders of record on Friday, November 14th will be issued a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend is Friday, November 14th. Charles Schwab’s dividend payout ratio is presently 25.29%.

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

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.