Iowa State Bank Has $2.78 Million Holdings in The Charles Schwab Corporation $SCHW

Iowa State Bank grew its position in The Charles Schwab Corporation (NYSE:SCHW) by 0.5% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 30,415 shares of the financial services provider’s stock after purchasing an additional 150 shares during the period. Iowa State Bank’s holdings in Charles Schwab were worth $2,775,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in SCHW. Vanguard Group Inc. grew its position in Charles Schwab by 15.4% during the 1st quarter. Vanguard Group Inc. now owns 148,395,252 shares of the financial services provider’s stock worth $11,616,380,000 after purchasing an additional 19,817,022 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of Charles Schwab by 12.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 82,048,984 shares of the financial services provider’s stock worth $6,422,795,000 after buying an additional 8,954,248 shares during the period. Northern Trust Corp boosted its position in shares of Charles Schwab by 10.8% in the first quarter. Northern Trust Corp now owns 17,440,301 shares of the financial services provider’s stock worth $1,365,227,000 after buying an additional 1,700,384 shares during the period. Alliancebernstein L.P. grew its holdings in shares of Charles Schwab by 16.0% during the first quarter. Alliancebernstein L.P. now owns 17,115,759 shares of the financial services provider’s stock valued at $1,339,822,000 after buying an additional 2,355,309 shares in the last quarter. Finally, Invesco Ltd. raised its position in Charles Schwab by 5.0% during the first quarter. Invesco Ltd. now owns 15,586,450 shares of the financial services provider’s stock valued at $1,220,107,000 after buying an additional 743,906 shares during the period. 84.38% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on SCHW shares. William Blair lowered Charles Schwab from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 3rd. Citigroup raised their price target on shares of Charles Schwab from $105.00 to $110.00 and gave the stock a “buy” rating in a report on Monday, July 21st. Piper Sandler upped their price objective on shares of Charles Schwab from $80.00 to $92.00 and gave the company a “neutral” rating in a research note on Tuesday, July 15th. Morgan Stanley cut their target price on shares of Charles Schwab to $130.00 and set an “overweight” rating for the company in a research report on Wednesday. Finally, Barclays boosted their price target on shares of Charles Schwab from $106.00 to $113.00 and gave the company an “overweight” rating in a report on Friday, July 18th. One 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 company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $100.52.

Insider Buying and Selling at Charles Schwab

In related news, General Counsel Peter J. Morgan III sold 50,016 shares of the firm’s stock in a transaction that occurred on Wednesday, August 27th. The stock was sold at an average price of $97.00, for a total value of $4,851,552.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Paul V. Woolway sold 3,290 shares of the business’s stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $96.06, for a total value of $316,037.40. Following the completion of the sale, the insider owned 41,188 shares of the company’s stock, valued at approximately $3,956,519.28. This trade represents a 7.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 267,128 shares of company stock worth $26,232,077 in the last 90 days. Company insiders own 6.30% of the company’s stock.

Charles Schwab Stock Performance

SCHW stock opened at $94.13 on Monday. The firm has a 50 day moving average of $95.37 and a two-hundred day moving average of $88.71. The Charles Schwab Corporation has a 12 month low of $64.07 and a 12 month high of $99.59. The company has a market capitalization of $170.87 billion, a price-to-earnings ratio of 25.30, a P/E/G ratio of 0.91 and a beta of 0.97. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 0.47.

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

Charles Schwab Announces Dividend

The business 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 was Friday, August 8th. Charles Schwab’s dividend payout ratio is 29.03%.

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

Charles Schwab Company 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.