Country Club Bank Sells 710 Shares of The Charles Schwab Corporation $SCHW

Country Club Bank decreased its position in shares of The Charles Schwab Corporation (NYSE:SCHW) by 0.7% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 105,752 shares of the financial services provider’s stock after selling 710 shares during the quarter. Country Club Bank’s holdings in Charles Schwab were worth $9,516,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Atwood & Palmer Inc. acquired a new position in shares of Charles Schwab in the 1st quarter valued at about $25,000. Westside Investment Management Inc. increased its holdings in Charles Schwab by 75.0% in the first quarter. Westside Investment Management Inc. now owns 350 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 150 shares in the last quarter. CBIZ Investment Advisory Services LLC lifted its stake in Charles Schwab by 97.9% in the first quarter. CBIZ Investment Advisory Services LLC now owns 386 shares of the financial services provider’s stock valued at $30,000 after buying an additional 191 shares during the period. Stone House Investment Management LLC bought a new position in shares of Charles Schwab during the 1st quarter worth approximately $31,000. Finally, Activest Wealth Management grew its position in shares of Charles Schwab by 6,650.0% during the 1st quarter. Activest Wealth Management now owns 405 shares of the financial services provider’s stock worth $32,000 after buying an additional 399 shares during the period. Institutional investors and hedge funds own 84.38% of the company’s stock.

Insider Activity

In other news, General Counsel Peter J. Morgan III sold 50,016 shares of the company’s stock in a transaction on Wednesday, August 27th. The shares were sold at an average price of $97.00, for a total value of $4,851,552.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Nigel J. Murtagh sold 24,096 shares of the firm’s stock in a transaction dated Tuesday, July 29th. The shares were sold at an average price of $97.91, for a total transaction of $2,359,239.36. Following the transaction, the insider directly owned 58,999 shares in the company, valued at $5,776,592.09. The trade was a 29.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 267,128 shares of company stock worth $26,232,077. Company insiders own 6.30% of the company’s stock.

Wall Street Analysts Forecast Growth

SCHW has been the topic of a number of research reports. Citigroup boosted their target price on shares of Charles Schwab from $105.00 to $110.00 and gave the company a “buy” rating in a research report on Monday, July 21st. Raymond James Financial reaffirmed an “outperform” rating and issued a $99.00 price target on shares of Charles Schwab in a research note on Friday, July 18th. William Blair cut shares of Charles Schwab from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 3rd. Piper Sandler boosted their target price on Charles Schwab from $80.00 to $92.00 and gave the company a “neutral” rating in a research report on Tuesday, July 15th. Finally, Morgan Stanley dropped their price target on Charles Schwab to $130.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 1st. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, five have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $100.52.

Charles Schwab Price Performance

Shares of NYSE SCHW opened at $93.98 on Tuesday. The stock has a market cap of $170.59 billion, a price-to-earnings ratio of 25.26, a PEG ratio of 0.91 and a beta of 0.97. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.55 and a current ratio of 0.55. The Charles Schwab Corporation has a fifty-two week low of $64.16 and a fifty-two week high of $99.59. The firm’s 50-day simple moving average is $95.29 and its 200 day simple moving average is $88.82.

Charles Schwab (NYSE:SCHW) last issued its quarterly earnings data on Friday, July 18th. The financial services provider reported $1.14 EPS for the quarter, topping the consensus estimate of $1.10 by $0.04. The firm had revenue of $5.85 billion during the quarter, compared to the consensus estimate of $5.64 billion. Charles Schwab had a return on equity of 19.30% and a net margin of 33.68%.The company’s quarterly revenue was up 24.8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.73 earnings per share. As a group, research analysts anticipate that The Charles Schwab Corporation will post 4.22 earnings per share for the current fiscal year.

Charles Schwab declared that its Board of Directors has initiated a share repurchase plan on Thursday, July 24th that allows the company to repurchase $20.00 billion in shares. This repurchase authorization allows the financial services provider to buy up to 11.6% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Charles Schwab Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 22nd. Shareholders of record on Friday, August 8th were paid a dividend of $0.27 per share. The ex-dividend date was Friday, August 8th. This represents a $1.08 annualized dividend and a yield of 1.1%. Charles Schwab’s dividend payout ratio (DPR) is 29.03%.

About Charles Schwab

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.