Country Club Bank Sells 710 Shares of The Charles Schwab Corporation $SCHW

Country Club Bank trimmed its stake in The Charles Schwab Corporation (NYSE:SCHW) by 0.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 105,752 shares of the financial services provider’s stock after selling 710 shares during the quarter. Country Club Bank’s holdings in Charles Schwab were worth $9,516,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. Vanguard Group Inc. increased its position in Charles Schwab by 15.4% in the first quarter. Vanguard Group Inc. now owns 148,395,252 shares of the financial services provider’s stock worth $11,616,380,000 after buying an additional 19,817,022 shares during the last quarter. Wellington Management Group LLP increased its holdings in Charles Schwab by 595.7% in the 1st quarter. Wellington Management Group LLP now owns 15,488,777 shares of the financial services provider’s stock worth $1,212,461,000 after acquiring an additional 13,262,309 shares during the last quarter. Primecap Management Co. CA raised its stake in Charles Schwab by 229.3% in the 1st quarter. Primecap Management Co. CA now owns 14,002,078 shares of the financial services provider’s stock valued at $1,096,083,000 after acquiring an additional 9,749,728 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in Charles Schwab by 12.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 82,048,984 shares of the financial services provider’s stock valued at $6,422,795,000 after purchasing an additional 8,954,248 shares during the last quarter. Finally, Nuveen LLC bought a new position in Charles Schwab during the first quarter worth about $440,699,000. Hedge funds and other institutional investors own 84.38% of the company’s stock.

Wall Street Analyst Weigh In

SCHW has been the topic of several research reports. William Blair lowered shares of Charles Schwab from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 3rd. Barclays boosted their target price 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. Keefe, Bruyette & Woods raised their price target on Charles Schwab from $102.00 to $108.00 and gave the stock an “outperform” rating in a report on Monday, July 21st. BMO Capital Markets assumed coverage on Charles Schwab in a research note on Friday. They set an “outperform” rating and a $110.00 price objective on the stock. Finally, Truist Financial set a $112.00 price objective on Charles Schwab in a report on Thursday. One equities research 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 issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $100.52.

Insider Transactions at Charles Schwab

In other news, insider Nigel J. Murtagh sold 24,096 shares of the firm’s stock in a transaction on Tuesday, July 29th. The shares were sold at an average price of $97.91, for a total transaction of $2,359,239.36. Following the sale, the insider owned 58,999 shares in the company, valued at approximately $5,776,592.09. This trade represents a 29.00% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Jonathan S. Beatty sold 6,144 shares of Charles Schwab stock in a transaction on Thursday, August 28th. The stock was sold at an average price of $96.81, for a total transaction of $594,800.64. Following the sale, the insider directly owned 11,923 shares of the company’s stock, valued at $1,154,265.63. This represents a 34.01% decrease in their ownership of the stock. 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. Company insiders own 6.30% of the company’s stock.

Charles Schwab Price Performance

Charles Schwab stock opened at $93.98 on Tuesday. The stock has a market cap of $170.59 billion, a price-to-earnings ratio of 25.26, a PEG 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. The business has a 50-day simple moving average of $95.29 and a 200 day simple moving average of $88.82. The Charles Schwab Corporation has a 52 week low of $64.16 and a 52 week high of $99.59.

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 the consensus estimate of $1.10 by $0.04. Charles Schwab had a return on equity of 19.30% and a net margin of 33.68%.The firm had revenue of $5.85 billion for the quarter, compared to analysts’ expectations of $5.64 billion. During the same quarter last year, the firm posted $0.73 EPS. The company’s revenue was up 24.8% compared to the same quarter last year. 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 declared a quarterly dividend, which was paid on Friday, August 22nd. Shareholders of record on Friday, August 8th were paid a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend was Friday, August 8th. Charles Schwab’s payout ratio is currently 29.03%.

Charles Schwab declared that its Board of Directors has authorized a share buyback 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 often an indication that the company’s management believes its stock is 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.