Hilltop National Bank Takes Position in The Charles Schwab Corporation $SCHW

Hilltop National Bank bought a new stake in The Charles Schwab Corporation (NYSE:SCHW) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 2,336 shares of the financial services provider’s stock, valued at approximately $213,000.

A number of other institutional investors also recently bought and sold shares of SCHW. Brighton Jones LLC increased its stake in Charles Schwab by 380.5% in the fourth quarter. Brighton Jones LLC now owns 24,240 shares of the financial services provider’s stock valued at $1,794,000 after purchasing an additional 19,195 shares during the period. RFG Advisory LLC increased its position in Charles Schwab by 11.3% in the 1st quarter. RFG Advisory LLC now owns 10,952 shares of the financial services provider’s stock valued at $857,000 after acquiring an additional 1,115 shares during the period. Thurston Springer Miller Herd & Titak Inc. increased its position in Charles Schwab by 14.0% in the 1st quarter. Thurston Springer Miller Herd & Titak Inc. now owns 6,833 shares of the financial services provider’s stock valued at $535,000 after acquiring an additional 841 shares during the period. Vest Financial LLC increased its position in Charles Schwab by 73.5% in the 1st quarter. Vest Financial LLC now owns 14,845 shares of the financial services provider’s stock valued at $1,162,000 after acquiring an additional 6,289 shares during the period. Finally, Magnus Financial Group LLC acquired a new position in shares of Charles Schwab in the first quarter valued at approximately $211,000. 84.38% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Charles Schwab

In other Charles Schwab news, General Counsel Peter J. Morgan III sold 50,016 shares of Charles Schwab stock in a transaction dated Wednesday, August 27th. The shares were sold at an average price of $97.00, for a total transaction of $4,851,552.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Paul V. Woolway sold 3,290 shares of Charles Schwab stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $96.06, for a total transaction of $316,037.40. Following the transaction, the insider owned 41,188 shares of the company’s stock, valued at approximately $3,956,519.28. The trade was a 7.40% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 267,128 shares of company stock worth $26,232,077. Insiders own 6.30% of the company’s stock.

Wall Street Analyst Weigh In

SCHW has been the topic of a number of recent research reports. Keefe, Bruyette & Woods boosted their target price on Charles Schwab from $102.00 to $108.00 and gave the company an “outperform” rating in a report on Monday, July 21st. William Blair cut shares of Charles Schwab from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 3rd. Morgan Stanley dropped their price target on shares of Charles Schwab to $130.00 and set an “overweight” rating on the stock in a research note on Wednesday. BMO Capital Markets assumed coverage on shares of Charles Schwab in a research note on Friday. They set an “outperform” rating and a $110.00 price target on the stock. Finally, Deutsche Bank Aktiengesellschaft dropped their price target on shares of Charles Schwab from $114.00 to $113.00 and set a “buy” rating on the stock in a research note on Tuesday, September 16th. Seventeen investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, Charles Schwab presently has a consensus rating of “Moderate Buy” and a consensus target price of $100.52.

Charles Schwab Stock Up 1.5%

Shares of NYSE SCHW opened at $94.13 on Friday. The firm has a 50-day moving average price of $95.37 and a 200 day moving average price of $88.57. The Charles Schwab Corporation has a 52 week low of $64.07 and a 52 week high of $99.59. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 0.47. The stock has a market capitalization of $170.87 billion, a price-to-earnings ratio of 25.30, a price-to-earnings-growth ratio of 0.90 and a beta of 0.97.

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

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

Charles Schwab Dividend Announcement

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

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.