Bank of Nova Scotia Lowers Stock Holdings in The Charles Schwab Corporation $SCHW

Bank of Nova Scotia cut its holdings in The Charles Schwab Corporation (NYSE:SCHW) by 64.1% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 470,918 shares of the financial services provider’s stock after selling 839,501 shares during the period. Bank of Nova Scotia’s holdings in Charles Schwab were worth $44,257,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Dogwood Wealth Management LLC grew its position in shares of Charles Schwab by 99.2% in the fourth quarter. Dogwood Wealth Management LLC now owns 247 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 123 shares during the period. Piscataqua Savings Bank acquired a new stake in shares of Charles Schwab in the fourth quarter worth approximately $26,000. Scarborough Advisors LLC purchased a new stake in Charles Schwab in the first quarter valued at approximately $29,000. Optima Capital LLC purchased a new stake in Charles Schwab in the fourth quarter valued at approximately $30,000. Finally, McIlrath & Eck LLC increased its position in Charles Schwab by 143.2% during the fourth quarter. McIlrath & Eck LLC now owns 321 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 189 shares during the last quarter. Hedge funds and other institutional investors own 84.38% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on SCHW shares. BMO Capital Markets lowered shares of Charles Schwab from an “outperform” rating to a “market perform” rating and set a $105.00 price target on the stock. in a report on Monday, July 20th. JPMorgan Chase & Co. increased their target price on Charles Schwab from $128.00 to $131.00 and gave the stock an “overweight” rating in a research report on Friday, April 17th. TD Cowen boosted their target price on Charles Schwab from $108.00 to $109.00 and gave the stock a “buy” rating in a report on Friday, May 15th. Keefe, Bruyette & Woods initiated coverage on shares of Charles Schwab in a report on Wednesday, April 8th. They issued an “outperform” rating and a $110.00 price target on the stock. Finally, UBS Group lifted their price target on shares of Charles Schwab from $122.00 to $128.00 and gave the company a “buy” rating in a research report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Charles Schwab presently has a consensus rating of “Moderate Buy” and a consensus price target of $119.76.

Charles Schwab Price Performance

Shares of NYSE SCHW opened at $101.92 on Friday. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 0.48. The Charles Schwab Corporation has a fifty-two week low of $83.96 and a fifty-two week high of $107.50. The business has a 50 day moving average price of $93.93 and a two-hundred day moving average price of $95.39. The firm has a market cap of $177.25 billion, a PE ratio of 18.53, a price-to-earnings-growth ratio of 0.82 and a beta of 0.77.

Charles Schwab (NYSE:SCHW) last announced its earnings results on Tuesday, July 21st. The financial services provider reported $1.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.56 by $0.06. The company had revenue of $7.07 billion for the quarter, compared to analyst estimates of $6.90 billion. Charles Schwab had a return on equity of 24.73% and a net margin of 38.79%.Charles Schwab’s quarterly revenue was up 20.9% on a year-over-year basis. During the same period in the prior year, the company posted $1.14 EPS. Sell-side analysts expect that The Charles Schwab Corporation will post 6.43 earnings per share for the current fiscal year.

Charles Schwab Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 28th. Investors of record on Friday, August 14th will be given a $0.32 dividend. The ex-dividend date is Friday, August 14th. This represents a $1.28 annualized dividend and a yield of 1.3%. Charles Schwab’s dividend payout ratio (DPR) is currently 23.27%.

Key Stories Impacting Charles Schwab

Here are the key news stories impacting Charles Schwab this week:

• Positive Sentiment: Schwab announced a quarterly common stock dividend of $0.32 per share, along with preferred stock dividends, reinforcing its capital-return story for income-focused investors. Schwab Declares Quarterly Common Stock Dividend and Declares Preferred Stock Dividends
• Positive Sentiment: Argus raised its price target on SCHW to $114 from $108 and kept a buy rating, signaling confidence in further upside. Argus raises Charles Schwab price target
• Positive Sentiment: Schwab was added to Zacks’ “Best Income Stocks to Buy” list, suggesting investors continue to view the company as an attractive income and quality financial-services name. Best Income Stocks to Buy for July 23rd
• Positive Sentiment: Recent coverage highlighted Schwab’s “dual beats” in its latest quarter, with earnings and revenue both coming in above expectations, adding to the bullish case after the July 21 report. Charles Schwab: Dual Beats And Attractive Preferreds
• Neutral Sentiment: Schwab also received media attention for its call for the CLARITY Act to pass, framing crypto regulation as a potential long-term industry catalyst, though the timing remains uncertain. Charles Schwab Calls CLARITY Act a Fundamental Catalyst

Insider Activity

In other Charles Schwab news, insider Jonathan S. Beatty sold 2,000 shares of the business’s stock in a transaction on Monday, July 6th. The stock was sold at an average price of $100.01, for a total transaction of $200,020.00. Following the completion of the transaction, the insider owned 13,738 shares in the company, valued at approximately $1,373,937.38. The trade was a 12.71% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Frank C. Herringer sold 2,520 shares of the stock in a transaction on Tuesday, April 28th. The stock was sold at an average price of $90.60, for a total value of $228,312.00. Following the completion of the transaction, the director directly owned 177,508 shares of the company’s stock, valued at approximately $16,082,224.80. The trade was a 1.40% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 6,520 shares of company stock valued at $622,392. 6.30% of the stock is owned by insiders.

Charles Schwab Company Profile

Charles Schwab Corporation (NYSE: SCHW) is a diversified financial services firm that provides brokerage, banking, wealth management and advisory services to individual investors, independent investment advisors and institutional clients. Its primary offerings include retail brokerage accounts, online trading platforms, Schwab-branded mutual funds and exchange-traded funds (ETFs), retirement plan services, custodial services for independent Registered Investment Advisors (RIAs), and banking products through Charles Schwab Bank.