Trust Co. of Toledo NA OH Raises Stock Position in The Charles Schwab Co. (NYSE:SCHW)

Trust Co. of Toledo NA OH lifted its stake in shares of The Charles Schwab Co. (NYSE:SCHW) by 32.8% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 4,352 shares of the financial services provider’s stock after acquiring an additional 1,075 shares during the quarter. Trust Co. of Toledo NA OH’s holdings in Charles Schwab were worth $321,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the business. Argus Investors Counsel Inc. increased its holdings in Charles Schwab by 4.0% during the fourth quarter. Argus Investors Counsel Inc. now owns 26,731 shares of the financial services provider’s stock valued at $1,839,000 after buying an additional 1,035 shares during the period. Trust Point Inc. purchased a new stake in shares of Charles Schwab during the 4th quarter worth $474,000. SteelPeak Wealth LLC boosted its position in Charles Schwab by 39.2% during the fourth quarter. SteelPeak Wealth LLC now owns 5,253 shares of the financial services provider’s stock valued at $361,000 after purchasing an additional 1,479 shares in the last quarter. International Assets Investment Management LLC grew its stake in Charles Schwab by 7,185.7% in the fourth quarter. International Assets Investment Management LLC now owns 756,404 shares of the financial services provider’s stock valued at $52,041,000 after purchasing an additional 746,022 shares during the last quarter. Finally, Sowell Financial Services LLC raised its holdings in Charles Schwab by 49.2% in the fourth quarter. Sowell Financial Services LLC now owns 15,813 shares of the financial services provider’s stock worth $1,088,000 after purchasing an additional 5,211 shares in the last quarter. 84.38% of the stock is owned by hedge funds and other institutional investors.

Charles Schwab Stock Performance

SCHW traded up $0.51 during trading on Tuesday, reaching $62.80. 7,690,532 shares of the company’s stock were exchanged, compared to its average volume of 8,036,733. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.42 and a quick ratio of 0.42. The company’s fifty day simple moving average is $70.80 and its 200-day simple moving average is $70.05. The Charles Schwab Co. has a 1 year low of $48.66 and a 1 year high of $79.49. The stock has a market capitalization of $111.61 billion, a P/E ratio of 26.28, a price-to-earnings-growth ratio of 1.18 and a beta of 0.99.

Charles Schwab (NYSE:SCHW) last announced its quarterly earnings results on Tuesday, July 16th. The financial services provider reported $0.73 earnings per share for the quarter, beating the consensus estimate of $0.72 by $0.01. Charles Schwab had a return on equity of 18.65% and a net margin of 26.30%. The company had revenue of $4.69 billion during the quarter, compared to analysts’ expectations of $4.68 billion. During the same period last year, the business earned $0.75 earnings per share. Charles Schwab’s quarterly revenue was up .7% on a year-over-year basis. As a group, research analysts predict that The Charles Schwab Co. will post 3.09 earnings per share for the current fiscal year.

Charles Schwab Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 23rd. Stockholders of record on Friday, August 9th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.59%. The ex-dividend date is Friday, August 9th. Charles Schwab’s payout ratio is currently 41.84%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on SCHW. JPMorgan Chase & Co. cut their price objective on shares of Charles Schwab from $82.00 to $78.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 17th. Keefe, Bruyette & Woods raised Charles Schwab from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $76.00 to $84.00 in a research report on Monday, July 8th. TD Cowen reissued a “hold” rating and issued a $71.00 price objective (down previously from $88.00) on shares of Charles Schwab in a research report on Wednesday, July 17th. Deutsche Bank Aktiengesellschaft reduced their target price on Charles Schwab from $84.00 to $79.00 and set a “buy” rating on the stock in a research report on Wednesday, July 17th. Finally, Jefferies Financial Group raised their price target on Charles Schwab from $85.00 to $88.00 and gave the stock a “buy” rating in a report on Monday, July 8th. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $74.27.

Insider Activity

In other news, Chairman Charles R. Schwab sold 67,386 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $65.11, for a total value of $4,387,502.46. Following the completion of the sale, the chairman now directly owns 60,619,371 shares in the company, valued at $3,946,927,245.81. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, Chairman Charles R. Schwab sold 67,386 shares of Charles Schwab stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $65.11, for a total value of $4,387,502.46. Following the sale, the chairman now owns 60,619,371 shares in the company, valued at $3,946,927,245.81. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Paul V. Woolway sold 1,150 shares of the business’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $65.20, for a total transaction of $74,980.00. Following the sale, the insider now directly owns 61,887 shares of the company’s stock, valued at approximately $4,035,032.40. The disclosure for this sale can be found here. Insiders have sold 273,586 shares of company stock worth $19,570,869 in the last ninety days. Company insiders own 6.60% of the company’s stock.

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.