Citizens Financial Group Inc RI reduced its position in Charles Schwab Co. (NYSE:SCHW) by 9.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 11,085 shares of the financial services provider’s stock after selling 1,200 shares during the quarter. Citizens Financial Group Inc RI’s holdings in Charles Schwab were worth $545,000 as of its most recent SEC filing.
A number of other institutional investors have also recently bought and sold shares of SCHW. IFG Advisory LLC boosted its stake in shares of Charles Schwab by 11.3% during the second quarter. IFG Advisory LLC now owns 10,087 shares of the financial services provider’s stock valued at $515,000 after purchasing an additional 1,026 shares in the last quarter. Gibraltar Capital Management Inc. boosted its stake in Charles Schwab by 0.9% in the second quarter. Gibraltar Capital Management Inc. now owns 113,017 shares of the financial services provider’s stock valued at $5,775,000 after acquiring an additional 1,057 shares in the last quarter. Livingston Group Asset Management CO operating as Southport Capital Management boosted its stake in Charles Schwab by 11.0% in the second quarter. Livingston Group Asset Management CO operating as Southport Capital Management now owns 10,806 shares of the financial services provider’s stock valued at $552,000 after acquiring an additional 1,068 shares in the last quarter. Bbva Compass Bancshares Inc. boosted its stake in Charles Schwab by 8.1% in the second quarter. Bbva Compass Bancshares Inc. now owns 14,972 shares of the financial services provider’s stock valued at $765,000 after acquiring an additional 1,121 shares in the last quarter. Finally, Tower Bridge Advisors boosted its stake in Charles Schwab by 0.5% in the third quarter. Tower Bridge Advisors now owns 244,541 shares of the financial services provider’s stock valued at $12,019,000 after acquiring an additional 1,127 shares in the last quarter. 80.44% of the stock is currently owned by institutional investors.
In other Charles Schwab news, insider Marie A. Chandoha sold 8,424 shares of Charles Schwab stock in a transaction on Tuesday, October 16th. The shares were sold at an average price of $48.01, for a total value of $404,436.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Christopher V. Dodds sold 15,718 shares of Charles Schwab stock in a transaction on Thursday, August 16th. The shares were sold at an average price of $51.14, for a total transaction of $803,818.52. Following the completion of the transaction, the director now directly owns 7,592 shares of the company’s stock, valued at approximately $388,254.88. The disclosure for this sale can be found here. In the last three months, insiders have sold 26,771 shares of company stock valued at $1,336,655. 11.50% of the stock is currently owned by corporate insiders.
Shares of Charles Schwab stock opened at $47.28 on Tuesday. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.27 and a quick ratio of 0.27. Charles Schwab Co. has a 1 year low of $42.01 and a 1 year high of $60.22. The firm has a market cap of $62.93 billion, a P/E ratio of 20.80, a price-to-earnings-growth ratio of 1.16 and a beta of 1.48.
Charles Schwab (NYSE:SCHW) last issued its earnings results on Monday, October 15th. The financial services provider reported $0.65 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.65. Charles Schwab had a net margin of 32.65% and a return on equity of 19.46%. The firm had revenue of $2.58 billion during the quarter, compared to analysts’ expectations of $2.58 billion. During the same quarter last year, the company posted $0.42 earnings per share. The firm’s revenue was up 19.1% compared to the same quarter last year. As a group, equities analysts anticipate that Charles Schwab Co. will post 2.45 earnings per share for the current fiscal year.
Charles Schwab declared that its board has authorized a share repurchase plan on Thursday, October 25th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the financial services provider to buy up to 1.7% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board believes its shares are undervalued.
The firm also recently announced a quarterly dividend, which will be paid on Friday, November 23rd. Investors of record on Friday, November 9th will be issued a dividend of $0.13 per share. The ex-dividend date of this dividend is Thursday, November 8th. This represents a $0.52 annualized dividend and a dividend yield of 1.10%. Charles Schwab’s dividend payout ratio (DPR) is presently 31.71%.
Several equities research analysts have weighed in on the stock. Morgan Stanley raised their target price on shares of Charles Schwab from $63.00 to $65.00 and gave the company an “overweight” rating in a research note on Wednesday, July 25th. Zacks Investment Research upgraded shares of Charles Schwab from a “hold” rating to a “buy” rating and set a $55.00 price objective for the company in a research note on Wednesday, October 3rd. Wells Fargo & Co lifted their price objective on shares of Charles Schwab from $54.00 to $56.00 and gave the stock a “$54.22” rating in a research note on Wednesday, July 18th. Credit Suisse Group lowered their price objective on shares of Charles Schwab from $56.00 to $53.00 and set an “outperform” rating for the company in a research note on Friday, October 26th. Finally, Wolfe Research assumed coverage on shares of Charles Schwab in a report on Tuesday, September 25th. They set an “underperform” rating for the company. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and ten have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $57.73.
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Charles Schwab Profile
The Charles Schwab Corporation, through its subsidiaries, provides wealth management, securities brokerage, banking, asset management, custody, and financial advisory services. The company operates through two segments, Investor Services and Advisor Services. The Investor Services segment provides retail brokerage and banking services, retirement plan services, and other corporate brokerage services; equity compensation plan sponsors full-service recordkeeping for stock plans, stock options, restricted stock, performance shares, and stock appreciation rights; and retail investor, retirement plan, and mutual fund clearing services.
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