Cascadia Advisory Services LLC reduced its stake in shares of The Charles Schwab Co. (NYSE:SCHW) by 5.0% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 9,910 shares of the financial services provider’s stock after selling 524 shares during the period. Cascadia Advisory Services LLC’s holdings in The Charles Schwab were worth $722,000 as of its most recent SEC filing.
Other institutional investors also recently modified their holdings of the company. Holloway Wealth Management LLC acquired a new position in shares of The Charles Schwab during the 2nd quarter worth approximately $25,000. Red Door Wealth Management LLC acquired a new position in The Charles Schwab in the second quarter valued at approximately $26,000. Meridian Wealth Partners LLC acquired a new position in The Charles Schwab in the first quarter valued at approximately $25,000. Exchange Traded Concepts LLC acquired a new position in The Charles Schwab in the second quarter valued at approximately $31,000. Finally, Baron Financial Group LLC lifted its holdings in The Charles Schwab by 117.5% in the first quarter. Baron Financial Group LLC now owns 435 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 235 shares during the last quarter. Institutional investors and hedge funds own 71.66% of the company’s stock.
A number of research analysts recently commented on the company. The Goldman Sachs Group cut The Charles Schwab from a “buy” rating to a “neutral” rating and set a $76.00 price objective on the stock. in a report on Thursday, July 8th. JMP Securities upped their price objective on The Charles Schwab from $83.00 to $85.00 and gave the company a “market outperform” rating in a report on Friday, July 23rd. Zacks Investment Research cut The Charles Schwab from a “buy” rating to a “hold” rating and set a $77.00 price objective on the stock. in a report on Tuesday, June 15th. upped their price objective on The Charles Schwab from $93.00 to $94.00 and gave the company a “buy” rating in a report on Monday, July 12th. Finally, Citigroup decreased their price target on The Charles Schwab from $94.00 to $90.00 and set a “buy” rating on the stock in a research note on Monday, July 19th. Three analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, The Charles Schwab currently has a consensus rating of “Buy” and an average price target of $81.41.
The Charles Schwab stock opened at $68.44 on Wednesday. The Charles Schwab Co. has a twelve month low of $33.96 and a twelve month high of $76.37. The stock’s fifty day simple moving average is $71.03 and its 200-day simple moving average is $70.18. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.39. The firm has a market capitalization of $123.67 billion, a P/E ratio of 28.88 and a beta of 1.05.
The Charles Schwab (NYSE:SCHW) last posted its quarterly earnings data on Thursday, July 15th. The financial services provider reported $0.70 earnings per share for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.01). The Charles Schwab had a return on equity of 12.89% and a net margin of 28.88%. The company had revenue of $4.53 billion for the quarter, compared to analysts’ expectations of $4.46 billion. During the same period in the prior year, the company posted $0.54 EPS. The firm’s revenue was up 84.8% compared to the same quarter last year. Sell-side analysts predict that The Charles Schwab Co. will post 3.14 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, August 27th. Stockholders of record on Friday, August 13th were given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.05%. The ex-dividend date of this dividend was Thursday, August 12th. The Charles Schwab’s dividend payout ratio is currently 29.39%.
About The Charles Schwab
The Charles Schwab Corp. is a savings and loan holding company, which engages in the provision of wealth management, securities brokerage, banking, asset management, custody, and financial advisory services. It operates through the Investor Services and Advisor Services segments. The Investor Services segment includes retail brokerage and banking services to individual investors, and retirement plan services, as well as other corporate brokerage services, to businesses and their employees.
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