The Charles Schwab Co. (NYSE:SCHW) Shares Bought by Hilltop National Bank

Hilltop National Bank grew its stake in The Charles Schwab Co. (NYSE:SCHW) by 13.0% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,097 shares of the financial services provider’s stock after purchasing an additional 242 shares during the period. Hilltop National Bank’s holdings in Charles Schwab were worth $155,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Tributary Capital Management LLC acquired a new stake in shares of Charles Schwab in the 1st quarter valued at approximately $31,000. Frazier Financial Advisors LLC acquired a new stake in shares of Charles Schwab in the 4th quarter worth approximately $30,000. Wetzel Investment Advisors Inc. acquired a new stake in Charles Schwab in the 4th quarter valued at about $31,000. Versant Capital Management Inc grew its position in shares of Charles Schwab by 302.2% in the second quarter. Versant Capital Management Inc now owns 555 shares of the financial services provider’s stock valued at $41,000 after purchasing an additional 417 shares during the last quarter. Finally, Costello Asset Management INC lifted its stake in Charles Schwab by 916.7% in the 4th quarter. Costello Asset Management INC now owns 610 shares of the financial services provider’s stock valued at $42,000 after buying an additional 550 shares in the last quarter. Hedge funds and other institutional investors own 84.38% of the company’s stock.

Charles Schwab Stock Performance

SCHW stock traded down $0.53 during midday trading on Wednesday, reaching $62.27. The company had a trading volume of 7,330,453 shares, compared to its average volume of 8,032,110. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 0.69. The stock has a 50 day moving average price of $70.64 and a 200 day moving average price of $70.04. The firm has a market capitalization of $110.67 billion, a PE ratio of 26.05, a P/E/G ratio of 1.18 and a beta of 0.99. The Charles Schwab Co. has a fifty-two week low of $48.66 and a fifty-two week high of $79.49.

Charles Schwab (NYSE:SCHW) last posted its earnings results on Tuesday, July 16th. The financial services provider reported $0.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $4.68 billion. During the same period last year, the business posted $0.75 earnings per share. The firm’s quarterly revenue was up .7% compared to the same quarter last year. Analysts anticipate that The Charles Schwab Co. will post 3.09 earnings per share for the current year.

Charles Schwab Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 23rd. Shareholders 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 yield of 1.61%. The ex-dividend date of this dividend is Friday, August 9th. Charles Schwab’s payout ratio is currently 41.84%.

Analyst Upgrades and Downgrades

Several research firms have commented on SCHW. Piper Sandler cut shares of Charles Schwab from an “overweight” rating to a “neutral” rating and lowered their target price for the stock from $80.00 to $64.00 in a research note on Monday, July 29th. TD Cowen reaffirmed a “hold” rating and issued a $71.00 price objective (down from $88.00) on shares of Charles Schwab in a research note on Wednesday, July 17th. Citigroup upped their price target on shares of Charles Schwab from $70.00 to $75.00 and gave the stock a “neutral” rating in a research report on Thursday, April 11th. Keefe, Bruyette & Woods upgraded 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 report on Monday, July 8th. Finally, UBS Group decreased their price objective on shares of Charles Schwab from $91.00 to $90.00 and set a “buy” rating for the company in a research report on Tuesday, July 9th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, Charles Schwab presently has a consensus rating of “Hold” and an average price target of $74.27.

Insiders Place Their Bets

In other news, Director Carolyn Schwab-Pomerantz sold 26,315 shares of the firm’s stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $76.13, for a total transaction of $2,003,360.95. Following the transaction, the director now directly owns 1,674,571 shares of the company’s stock, valued at $127,485,090.23. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Paul V. Woolway sold 1,150 shares of Charles Schwab 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 transaction, the insider now directly owns 61,887 shares of the company’s stock, valued at $4,035,032.40. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Carolyn Schwab-Pomerantz sold 26,315 shares of the business’s stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $76.13, for a total transaction of $2,003,360.95. Following the completion of the sale, the director now owns 1,674,571 shares in the company, valued at $127,485,090.23. The disclosure for this sale can be found here. In the last quarter, insiders sold 273,586 shares of company stock worth $19,570,869. 6.60% of the stock is owned by company 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.