Stratos Wealth Partners LTD. increased its holdings in shares of Charles Schwab Co. (NYSE:SCHW) by 9.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 22,830 shares of the financial services provider’s stock after purchasing an additional 1,993 shares during the period. Stratos Wealth Partners LTD.’s holdings in Charles Schwab were worth $770,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors have also modified their holdings of SCHW. First Trust Advisors LP purchased a new position in shares of Charles Schwab during the first quarter worth $1,805,000. Macquarie Group Ltd. increased its holdings in Charles Schwab by 10.9% in the fourth quarter. Macquarie Group Ltd. now owns 3,684,361 shares of the financial services provider’s stock valued at $175,228,000 after buying an additional 361,099 shares in the last quarter. Fulton Bank N.A. increased its holdings in Charles Schwab by 16.9% in the first quarter. Fulton Bank N.A. now owns 6,306 shares of the financial services provider’s stock valued at $212,000 after buying an additional 911 shares in the last quarter. Bangor Savings Bank increased its holdings in Charles Schwab by 3.1% in the first quarter. Bangor Savings Bank now owns 21,826 shares of the financial services provider’s stock valued at $734,000 after buying an additional 665 shares in the last quarter. Finally, State of Alaska Department of Revenue increased its holdings in Charles Schwab by 4.8% in the first quarter. State of Alaska Department of Revenue now owns 196,831 shares of the financial services provider’s stock valued at $6,617,000 after buying an additional 8,941 shares in the last quarter. 85.13% of the stock is owned by hedge funds and other institutional investors.
SCHW opened at $33.15 on Friday. The firm has a market capitalization of $42.68 billion, a PE ratio of 13.21 and a beta of 1.25. Charles Schwab Co. has a twelve month low of $28.00 and a twelve month high of $51.65. The firm’s 50-day moving average price is $34.61 and its 200 day moving average price is $37.89. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 0.36.
Charles Schwab (NYSE:SCHW) last posted its quarterly earnings results on Thursday, July 16th. The financial services provider reported $0.54 earnings per share for the quarter, topping analysts’ consensus estimates of $0.53 by $0.01. The firm had revenue of $2.45 billion for the quarter, compared to analyst estimates of $2.48 billion. Charles Schwab had a net margin of 31.48% and a return on equity of 16.88%. Charles Schwab’s quarterly revenue was down 8.6% on a year-over-year basis. During the same period in the previous year, the business posted $0.66 earnings per share. As a group, analysts predict that Charles Schwab Co. will post 2.14 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, August 28th. Investors of record on Friday, August 7th will be given a dividend of $0.18 per share. The ex-dividend date of this dividend is Thursday, August 6th. This represents a $0.72 dividend on an annualized basis and a yield of 2.17%. Charles Schwab’s payout ratio is presently 26.47%.
A number of research analysts have weighed in on the stock. Citigroup lifted their price objective on shares of Charles Schwab from $38.00 to $38.50 and gave the company a “neutral” rating in a report on Wednesday, July 22nd. TheStreet cut shares of Charles Schwab from a “b-” rating to a “c” rating in a report on Monday, July 27th. Deutsche Bank lifted their price objective on shares of Charles Schwab from $37.00 to $38.00 and gave the company a “hold” rating in a report on Friday, July 17th. Bank of America cut their price objective on shares of Charles Schwab from $38.00 to $37.00 and set a “neutral” rating for the company in a report on Friday, July 10th. Finally, Cfra dropped their target price on shares of Charles Schwab from $55.00 to $40.00 and set a “buy” rating on the stock in a research report on Wednesday, April 15th. Eleven analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Charles Schwab presently has a consensus rating of “Hold” and an average price target of $42.50.
In other Charles Schwab news, Chairman Charles R. Schwab sold 65,056 shares of the business’s stock in a transaction dated Thursday, July 30th. The shares were sold at an average price of $33.19, for a total value of $2,159,208.64. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Jonathan M. Craig sold 10,935 shares of the business’s stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $40.02, for a total transaction of $437,618.70. The disclosure for this sale can be found here. Insiders own 10.80% of the company’s stock.
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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