Hodges Capital Management Inc. Trims Holdings in The Charles Schwab Corporation $SCHW

Hodges Capital Management Inc. lowered its stake in shares of The Charles Schwab Corporation (NYSE:SCHW) by 25.2% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,096 shares of the financial services provider’s stock after selling 4,085 shares during the quarter. Hodges Capital Management Inc.’s holdings in Charles Schwab were worth $1,104,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Personalized Indexing Management LLC raised its stake in Charles Schwab by 26.8% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 190,538 shares of the financial services provider’s stock valued at $17,387,000 after acquiring an additional 40,275 shares in the last quarter. Bain Capital Public Equity Management II LLC bought a new position in shares of Charles Schwab in the first quarter worth $79,605,000. Independent Advisor Alliance increased its holdings in shares of Charles Schwab by 13.8% during the first quarter. Independent Advisor Alliance now owns 39,103 shares of the financial services provider’s stock valued at $3,061,000 after purchasing an additional 4,754 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH raised its stake in shares of Charles Schwab by 6.2% during the first quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 1,181,563 shares of the financial services provider’s stock valued at $92,493,000 after purchasing an additional 68,858 shares in the last quarter. Finally, PFG Investments LLC lifted its holdings in Charles Schwab by 10.2% in the second quarter. PFG Investments LLC now owns 5,951 shares of the financial services provider’s stock worth $543,000 after purchasing an additional 550 shares during the period. 84.38% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Deutsche Bank Aktiengesellschaft raised their target price on shares of Charles Schwab from $119.00 to $120.00 and gave the company a “buy” rating in a research note on Friday, October 17th. Piper Sandler reiterated a “neutral” rating on shares of Charles Schwab in a research note on Tuesday, October 14th. Raymond James Financial reissued an “outperform” rating and set a $99.00 target price on shares of Charles Schwab in a report on Friday, July 18th. Zacks Research lowered Charles Schwab from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 17th. Finally, Morgan Stanley lifted their price target on Charles Schwab from $130.00 to $139.00 and gave the company an “overweight” rating in a research report on Monday, November 3rd. One investment analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Charles Schwab currently has a consensus rating of “Moderate Buy” and an average target price of $106.45.

Insider Buying and Selling at Charles Schwab

In other Charles Schwab news, insider Jonathan S. Beatty sold 6,144 shares of the company’s stock in a transaction dated Thursday, August 28th. The shares were sold at an average price of $96.81, for a total transaction of $594,800.64. Following the completion of the sale, the insider directly owned 11,923 shares of the company’s stock, valued at approximately $1,154,265.63. This represents a 34.01% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Paul V. Woolway sold 3,205 shares of Charles Schwab stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $93.33, for a total transaction of $299,122.65. Following the completion of the transaction, the insider directly owned 34,778 shares in the company, valued at approximately $3,245,830.74. This trade represents a 8.44% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 65,866 shares of company stock valued at $6,370,897. 6.30% of the stock is currently owned by corporate insiders.

Charles Schwab Price Performance

NYSE SCHW opened at $95.53 on Tuesday. The Charles Schwab Corporation has a 1 year low of $65.88 and a 1 year high of $99.59. The business’s fifty day moving average is $94.02 and its two-hundred day moving average is $92.08. The stock has a market capitalization of $173.41 billion, a P/E ratio of 22.37, a P/E/G ratio of 0.85 and a beta of 1.02. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.55 and a current ratio of 0.55.

Charles Schwab (NYSE:SCHW) last issued its earnings results on Thursday, October 16th. The financial services provider reported $1.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.25 by $0.06. The business had revenue of $6.38 billion for the quarter, compared to analysts’ expectations of $5.93 billion. Charles Schwab had a return on equity of 21.26% and a net margin of 35.93%.The company’s quarterly revenue was up 26.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.71 EPS. On average, research analysts forecast that The Charles Schwab Corporation will post 4.22 earnings per share for the current fiscal year.

Charles Schwab Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 28th. Shareholders of record on Friday, November 14th will be issued a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 1.1%. The ex-dividend date is Friday, November 14th. Charles Schwab’s payout ratio is presently 25.29%.

Charles Schwab announced that its Board of Directors has initiated a stock repurchase plan on Thursday, July 24th that permits the company to buyback $20.00 billion in outstanding shares. This buyback authorization permits the financial services provider to repurchase up to 11.6% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.

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.