Keystone Financial Services Buys 823 Shares of The Charles Schwab Corporation $SCHW

Keystone Financial Services lifted its stake in The Charles Schwab Corporation (NYSE:SCHW) by 4.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 19,277 shares of the financial services provider’s stock after purchasing an additional 823 shares during the quarter. Charles Schwab accounts for approximately 0.6% of Keystone Financial Services’ holdings, making the stock its 27th biggest position. Keystone Financial Services’ holdings in Charles Schwab were worth $1,759,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of SCHW. Princeton Global Asset Management LLC purchased a new position in Charles Schwab in the second quarter worth about $25,000. RMG Wealth Management LLC bought a new stake in shares of Charles Schwab during the second quarter valued at approximately $27,000. CBIZ Investment Advisory Services LLC raised its holdings in 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 worth $30,000 after acquiring an additional 191 shares during the last quarter. Stone House Investment Management LLC bought a new position in Charles Schwab in the 1st quarter valued at approximately $31,000. Finally, Activest Wealth Management lifted its position in 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 in the last quarter. 84.38% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have commented on SCHW shares. Truist Financial lifted their target price on Charles Schwab from $112.00 to $113.00 and gave the stock a “buy” rating in a report on Friday, October 17th. The Goldman Sachs Group reiterated a “buy” rating and issued a $114.00 price objective on shares of Charles Schwab in a report on Friday, October 17th. Bank of America boosted their target price on Charles Schwab from $84.00 to $86.00 and gave the stock an “underperform” rating in a research report on Thursday, October 2nd. TD Cowen raised their price target on shares of Charles Schwab from $129.00 to $134.00 and gave the company a “buy” rating in a report on Friday, October 17th. Finally, Zacks Research lowered shares of Charles Schwab from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 17th. One research 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 assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $106.45.

Charles Schwab Trading Up 1.2%

Shares of NYSE:SCHW opened at $95.33 on Friday. The stock’s 50-day simple moving average is $94.03 and its two-hundred day simple moving average is $91.76. The stock has a market capitalization of $173.05 billion, a price-to-earnings ratio of 22.33, a PEG ratio of 0.85 and a beta of 1.02. The Charles Schwab Corporation has a 52-week low of $65.88 and a 52-week high of $99.59. 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 issued its quarterly earnings data on Thursday, October 16th. The financial services provider reported $1.31 earnings per share for the quarter, topping the consensus estimate of $1.25 by $0.06. The firm had revenue of $6.38 billion for the quarter, compared to analysts’ expectations of $5.93 billion. Charles Schwab had a net margin of 35.93% and a return on equity of 21.26%. The business’s quarterly revenue was up 26.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.71 EPS. Analysts expect that The Charles Schwab Corporation will post 4.22 EPS for the current year.

Charles Schwab Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 28th. Shareholders of record on Friday, November 14th will be given a $0.27 dividend. The ex-dividend date is Friday, November 14th. This represents a $1.08 annualized dividend and a yield of 1.1%. Charles Schwab’s dividend payout ratio (DPR) is presently 25.29%.

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 outstanding shares. This buyback authorization authorizes the financial services provider to purchase up to 11.6% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.

Insider Transactions at Charles Schwab

In other news, insider Paul V. Woolway sold 3,205 shares of the business’s 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 completion of the sale, the insider owned 34,778 shares of the company’s stock, valued at $3,245,830.74. The trade was a 8.44% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, General Counsel Peter J. Morgan III sold 50,016 shares of the firm’s stock in a transaction on Wednesday, August 27th. The stock was sold at an average price of $97.00, for a total value of $4,851,552.00. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 65,866 shares of company stock worth $6,370,897 in the last 90 days. 6.30% of the stock is currently owned by 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.