J. L. Bainbridge & Co. Inc. Sells 1,302 Shares of The Charles Schwab Corporation $SCHW

J. L. Bainbridge & Co. Inc. cut its holdings in The Charles Schwab Corporation (NYSE:SCHW) by 7.7% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 15,711 shares of the financial services provider’s stock after selling 1,302 shares during the quarter. J. L. Bainbridge & Co. Inc.’s holdings in Charles Schwab were worth $1,433,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Princeton Global Asset Management LLC acquired a new position in shares of Charles Schwab during the 2nd quarter valued at $25,000. RMG Wealth Management LLC acquired a new stake in Charles Schwab in the second quarter worth $27,000. CBIZ Investment Advisory Services LLC increased 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 purchasing an additional 191 shares in the last quarter. Stone House Investment Management LLC bought a new stake in Charles Schwab in the first quarter valued at $31,000. Finally, Activest Wealth Management raised its holdings in shares of Charles Schwab by 6,650.0% during the first quarter. Activest Wealth Management now owns 405 shares of the financial services provider’s stock valued at $32,000 after purchasing an additional 399 shares during the period. Institutional investors and hedge funds own 84.38% of the company’s stock.

Charles Schwab Stock Performance

Shares of SCHW opened at $90.44 on Friday. The firm has a market capitalization of $160.71 billion, a P/E ratio of 21.18, a P/E/G ratio of 0.85 and a beta of 1.02. The Charles Schwab Corporation has a 52 week low of $65.88 and a 52 week high of $99.59. The stock has a 50 day moving average price of $93.88 and a two-hundred day moving average price of $92.75. 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 announced its earnings results on Thursday, October 16th. The financial services provider reported $1.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.25 by $0.06. Charles Schwab had a return on equity of 21.26% and a net margin of 35.93%.The company had revenue of $6.38 billion for the quarter, compared to analysts’ expectations of $5.93 billion. During the same quarter in the previous year, the firm earned $0.71 earnings per share. Charles Schwab’s quarterly revenue was up 26.6% on a year-over-year basis. Equities analysts forecast that The Charles Schwab Corporation will post 4.22 earnings per share for the current fiscal year.

Charles Schwab Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 28th. Stockholders of record on Friday, November 14th will be paid a $0.27 dividend. The ex-dividend date is Friday, November 14th. This represents a $1.08 annualized dividend and a dividend yield of 1.2%. Charles Schwab’s dividend payout ratio is presently 25.29%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on SCHW shares. TD Cowen raised their target price on Charles Schwab from $129.00 to $134.00 and gave the company a “buy” rating in a research note on Friday, October 17th. Barclays increased their price target on Charles Schwab from $114.00 to $115.00 and gave the stock an “overweight” rating in a report on Friday, October 17th. Piper Sandler reissued a “neutral” rating on shares of Charles Schwab in a research note on Tuesday, October 14th. Morgan Stanley upped their target price on Charles Schwab from $130.00 to $139.00 and gave the stock an “overweight” rating in a research report on Monday, November 3rd. Finally, The Goldman Sachs Group reiterated a “buy” rating and issued a $114.00 target price on shares of Charles Schwab in a report on Friday, October 17th. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, five have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $106.45.

Insider Activity

In related news, General Counsel Peter J. Morgan III sold 50,016 shares of the firm’s 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Paul V. Woolway sold 3,205 shares of the business’s stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $93.33, for a total transaction of $299,122.65. Following the transaction, the insider 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. The SEC filing for this sale provides additional information. Insiders sold a total of 68,938 shares of company stock worth $6,671,953 over the last quarter. Insiders own 6.30% of the company’s stock.

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.