Charles Schwab Co. (NYSE:SCHW) Short Interest Update
Charles Schwab Co. (NYSE:SCHW) saw a significant growth in short interest during the month of September. As of September 15th, there was short interest totalling 17,810,000 shares, a growth of 11.2% from the August 15th total of 16,010,000 shares. Currently, 1.5% of the shares of the company are sold short. Based on an average trading volume of 9,310,000 shares, the days-to-cover ratio is currently 1.9 days.
In related news, Chairman Charles R. Schwab sold 105,422 shares of the stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $40.08, for a total transaction of $4,225,313.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Stephen T. Mclin sold 5,093 shares of the stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $37.56, for a total value of $191,293.08. Following the sale, the director now directly owns 7,297 shares of the company’s stock, valued at $274,075.32. The disclosure for this sale can be found here. Insiders have sold 219,677 shares of company stock valued at $8,997,842 over the last ninety days. 10.90% of the stock is currently owned by company insiders.
Several institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in shares of Charles Schwab by 0.9% in the second quarter. Vanguard Group Inc. now owns 91,211,828 shares of the financial services provider’s stock worth $3,665,804,000 after acquiring an additional 794,114 shares during the period. BlackRock Inc. boosted its stake in Charles Schwab by 3.7% during the second quarter. BlackRock Inc. now owns 87,080,690 shares of the financial services provider’s stock valued at $3,499,773,000 after buying an additional 3,140,824 shares during the period. Edgewood Management LLC boosted its stake in Charles Schwab by 1.2% during the second quarter. Edgewood Management LLC now owns 22,116,063 shares of the financial services provider’s stock valued at $888,845,000 after buying an additional 256,759 shares during the period. Northern Trust Corp boosted its stake in Charles Schwab by 0.6% during the second quarter. Northern Trust Corp now owns 16,812,955 shares of the financial services provider’s stock valued at $675,714,000 after buying an additional 104,298 shares during the period. Finally, Clearbridge Investments LLC boosted its stake in Charles Schwab by 24.0% during the first quarter. Clearbridge Investments LLC now owns 14,863,818 shares of the financial services provider’s stock valued at $635,577,000 after buying an additional 2,880,846 shares during the period. 79.03% of the stock is owned by hedge funds and other institutional investors.
Shares of Charles Schwab stock traded up $0.52 during trading hours on Friday, reaching $41.41. The company had a trading volume of 6,272,300 shares, compared to its average volume of 6,946,818. Charles Schwab has a one year low of $35.85 and a one year high of $52.47. The business has a fifty day simple moving average of $39.38 and a 200 day simple moving average of $42.13. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.31 and a quick ratio of 0.31. The firm has a market cap of $53.45 billion, a PE ratio of 16.90, a price-to-earnings-growth ratio of 2.70 and a beta of 1.29.
Charles Schwab (NYSE:SCHW) last posted its quarterly earnings results on Tuesday, July 16th. The financial services provider reported $0.66 EPS for the quarter, topping the Zacks’ consensus estimate of $0.65 by $0.01. Charles Schwab had a return on equity of 20.52% and a net margin of 35.29%. The firm had revenue of $2.68 billion during the quarter, compared to analyst estimates of $2.68 billion. During the same period last year, the company earned $0.60 earnings per share. The business’s revenue for the quarter was up 7.8% on a year-over-year basis. On average, research analysts forecast that Charles Schwab will post 2.67 EPS for the current year.
About Charles Schwab
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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