Valley National Advisers Inc. trimmed its position in The Charles Schwab Co. (NYSE:SCHW – Free Report) by 2.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 81,866 shares of the financial services provider’s stock after selling 2,112 shares during the quarter. Valley National Advisers Inc.’s holdings in Charles Schwab were worth $4,349,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also modified their holdings of the company. Phocas Financial Corp. purchased a new position in shares of Charles Schwab in the 4th quarter valued at $25,000. Beacon Capital Management LLC purchased a new position in shares of Charles Schwab in the 1st quarter valued at $25,000. Carolina Wealth Advisors LLC grew its position in shares of Charles Schwab by 54.8% in the 1st quarter. Carolina Wealth Advisors LLC now owns 565 shares of the financial services provider’s stock valued at $30,000 after buying an additional 200 shares during the last quarter. Householder Group Estate & Retirement Specialist LLC purchased a new position in shares of Charles Schwab in the 1st quarter valued at $30,000. Finally, Rocky Mountain Advisers LLC grew its position in shares of Charles Schwab by 704.2% in the 1st quarter. Rocky Mountain Advisers LLC now owns 571 shares of the financial services provider’s stock valued at $30,000 after buying an additional 500 shares during the last quarter. 82.77% of the stock is currently owned by institutional investors and hedge funds.
Charles Schwab Stock Up 1.8 %
Shares of NYSE SCHW opened at $57.83 on Tuesday. The company has a quick ratio of 0.39, a current ratio of 0.39 and a debt-to-equity ratio of 0.74. The Charles Schwab Co. has a 52 week low of $45.00 and a 52 week high of $86.63. The firm has a 50-day moving average price of $53.20 and a 200 day moving average price of $63.58. The stock has a market capitalization of $102.31 billion, a price-to-earnings ratio of 15.80, a price-to-earnings-growth ratio of 3.29 and a beta of 0.88.
Charles Schwab (NYSE:SCHW – Get Free Report) last announced its quarterly earnings data on Monday, April 17th. The financial services provider reported $0.93 EPS for the quarter, beating the consensus estimate of $0.90 by $0.03. Charles Schwab had a net margin of 34.82% and a return on equity of 27.83%. The firm had revenue of $5.12 billion during the quarter, compared to analysts’ expectations of $5.13 billion. During the same quarter last year, the business earned $0.77 earnings per share. The business’s revenue for the quarter was up 9.5% compared to the same quarter last year. Equities research analysts anticipate that The Charles Schwab Co. will post 3.22 EPS for the current fiscal year.
Charles Schwab Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, May 26th. Shareholders of record on Friday, May 12th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.73%. The ex-dividend date of this dividend was Thursday, May 11th. Charles Schwab’s payout ratio is currently 27.32%.
Analyst Upgrades and Downgrades
Several brokerages have issued reports on SCHW. Jefferies Financial Group raised their price objective on shares of Charles Schwab from $64.00 to $66.00 in a research report on Monday. Piper Sandler lowered their price objective on shares of Charles Schwab from $75.00 to $69.00 in a research report on Wednesday, July 5th. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Charles Schwab from $75.00 to $72.00 in a research report on Tuesday, April 18th. Wolfe Research lowered their price objective on shares of Charles Schwab from $62.00 to $60.00 in a research report on Monday, June 26th. Finally, Barclays lowered their price objective on shares of Charles Schwab from $61.00 to $56.00 and set an “equal weight” rating on the stock in a research report on Friday, April 14th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, Charles Schwab currently has an average rating of “Moderate Buy” and a consensus target price of $66.83.
Insiders Place Their Bets
In other Charles Schwab news, Chairman Charles R. Schwab sold 77,640 shares of Charles Schwab stock in a transaction dated Monday, May 22nd. The shares were sold at an average price of $51.76, for a total transaction of $4,018,646.40. Following the completion of the transaction, the chairman now owns 59,771,278 shares in the company, valued at $3,093,761,349.28. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 6.60% of the stock is currently owned by company insiders.
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. The company operates in two segments, Investor Services and Advisor Services.
See Also
Want to see what other hedge funds are holding SCHW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Charles Schwab Co. (NYSE:SCHW – Free Report).
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