Citizens National Bank Trust Department Sells 560 Shares of The Charles Schwab Corporation $SCHW

Citizens National Bank Trust Department cut its stake in The Charles Schwab Corporation (NYSE:SCHW) by 6.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 8,065 shares of the financial services provider’s stock after selling 560 shares during the quarter. Citizens National Bank Trust Department’s holdings in Charles Schwab were worth $736,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Pine Haven Investment Counsel Inc grew its stake in Charles Schwab by 0.3% in the 2nd quarter. Pine Haven Investment Counsel Inc now owns 41,793 shares of the financial services provider’s stock valued at $3,813,000 after purchasing an additional 110 shares during the period. Traveka Wealth LLC increased its position in shares of Charles Schwab by 4.3% during the 2nd quarter. Traveka Wealth LLC now owns 2,841 shares of the financial services provider’s stock valued at $259,000 after purchasing an additional 117 shares during the last quarter. Bank of Stockton increased its position in shares of Charles Schwab by 1.2% during the 2nd quarter. Bank of Stockton now owns 10,593 shares of the financial services provider’s stock valued at $967,000 after purchasing an additional 123 shares during the last quarter. Sheaff Brock Investment Advisors LLC increased its position in shares of Charles Schwab by 1.6% during the 1st quarter. Sheaff Brock Investment Advisors LLC now owns 7,986 shares of the financial services provider’s stock valued at $625,000 after purchasing an additional 129 shares during the last quarter. Finally, HM Payson & Co. increased its position in shares of Charles Schwab by 0.7% during the 1st quarter. HM Payson & Co. now owns 19,271 shares of the financial services provider’s stock valued at $1,509,000 after purchasing an additional 130 shares during the last quarter. Hedge funds and other institutional investors own 84.38% of the company’s stock.

Charles Schwab Trading Down 0.1%

Shares of SCHW opened at $93.94 on Wednesday. The business has a 50-day moving average of $95.21 and a 200 day moving average of $88.86. The Charles Schwab Corporation has a fifty-two week low of $64.26 and a fifty-two week high of $99.59. The firm has a market cap of $170.53 billion, a P/E ratio of 25.25, a price-to-earnings-growth ratio of 0.91 and a beta of 0.97. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.55 and a current ratio of 0.55.

Charles Schwab (NYSE:SCHW) last announced its quarterly earnings data on Friday, July 18th. The financial services provider reported $1.14 earnings per share for the quarter, topping the consensus estimate of $1.10 by $0.04. Charles Schwab had a return on equity of 19.30% and a net margin of 33.68%.The company had revenue of $5.85 billion during the quarter, compared to analyst estimates of $5.64 billion. During the same quarter last year, the firm posted $0.73 EPS. The firm’s revenue for the quarter was up 24.8% on a year-over-year basis. As a group, research analysts forecast that The Charles Schwab Corporation will post 4.22 EPS for the current year.

Charles Schwab Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 22nd. Shareholders of record on Friday, August 8th were issued a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend was Friday, August 8th. Charles Schwab’s payout ratio is presently 29.03%.

Charles Schwab declared that its board has authorized 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 buy up to 11.6% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s leadership believes its shares are undervalued.

Analyst Ratings Changes

Several brokerages have recently issued reports on SCHW. Bank of America raised their target price on Charles Schwab from $84.00 to $86.00 and gave the company an “underperform” rating in a research report on Thursday, October 2nd. Keefe, Bruyette & Woods raised their target price on Charles Schwab from $102.00 to $108.00 and gave the company an “outperform” rating in a research report on Monday, July 21st. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Charles Schwab in a research report on Saturday, September 27th. Citigroup raised their target price on Charles Schwab from $105.00 to $110.00 and gave the company a “buy” rating in a research report on Monday, July 21st. Finally, Wells Fargo & Company set a $102.00 target price on Charles Schwab and gave the company an “overweight” rating in a research report on Friday, July 18th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, five have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $100.52.

Insider Buying and Selling at Charles Schwab

In other Charles Schwab news, insider Paul V. Woolway sold 3,290 shares of Charles Schwab stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $96.06, for a total transaction of $316,037.40. Following the completion of the transaction, the insider owned 41,188 shares of the company’s stock, valued at $3,956,519.28. The trade was a 7.40% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, General Counsel Peter J. Morgan III sold 50,016 shares of Charles Schwab stock in a transaction dated Wednesday, August 27th. The shares were sold at an average price of $97.00, for a total value of $4,851,552.00. The disclosure for this sale can be found here. Over the last ninety days, 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.