Clear Creek Financial Management LLC Acquires Shares of 2,498 The Charles Schwab Corporation $SCHW

Clear Creek Financial Management LLC acquired a new stake in The Charles Schwab Corporation (NYSE:SCHW) in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund acquired 2,498 shares of the financial services provider’s stock, valued at approximately $228,000.

Several other institutional investors have also recently bought and sold shares of the business. Ignite Planners LLC bought a new position in Charles Schwab in the 2nd quarter valued at $218,000. H&H Retirement Design & Management INC raised its position in Charles Schwab by 2.7% in the 2nd quarter. H&H Retirement Design & Management INC now owns 11,536 shares of the financial services provider’s stock valued at $1,110,000 after purchasing an additional 299 shares during the last quarter. Nelson Capital Management LLC raised its position in Charles Schwab by 0.7% in the 2nd quarter. Nelson Capital Management LLC now owns 38,632 shares of the financial services provider’s stock valued at $3,525,000 after purchasing an additional 260 shares during the last quarter. Puzo Michael J raised its position in Charles Schwab by 268.2% in the 2nd quarter. Puzo Michael J now owns 17,778 shares of the financial services provider’s stock valued at $1,622,000 after purchasing an additional 12,950 shares during the last quarter. Finally, Broderick Brian C bought a new position in Charles Schwab in the 2nd quarter valued at $290,000. Institutional investors own 84.38% of the company’s stock.

Charles Schwab Stock Down 2.1%

Shares of Charles Schwab stock opened at $92.08 on Friday. 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 Charles Schwab Corporation has a 12 month low of $65.88 and a 12 month high of $99.59. The business has a fifty day simple moving average of $94.97 and a 200 day simple moving average of $89.13. The stock has a market cap of $167.15 billion, a PE ratio of 24.75, a price-to-earnings-growth ratio of 0.89 and a beta of 0.97.

Charles Schwab (NYSE:SCHW) last announced its quarterly earnings data on Friday, July 18th. The financial services provider reported $1.14 EPS for the quarter, topping analysts’ consensus estimates of $1.10 by $0.04. Charles Schwab had a return on equity of 19.30% and a net margin of 33.68%.The business had revenue of $5.85 billion during the quarter, compared to analysts’ expectations of $5.64 billion. During the same period in the previous year, the firm earned $0.73 earnings per share. The firm’s quarterly revenue was up 24.8% compared to the same quarter last year. Research analysts predict that The Charles Schwab Corporation will post 4.22 EPS for the current year.

Charles Schwab Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 22nd. Shareholders of record on Friday, August 8th were issued a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 1.2%. The ex-dividend date was Friday, August 8th. Charles Schwab’s dividend payout ratio is 29.03%.

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

Analyst Ratings Changes

Several brokerages have issued reports on SCHW. Truist Financial set a $112.00 price objective on Charles Schwab in a research report on Thursday, October 2nd. Raymond James Financial restated an “outperform” rating and set a $99.00 target price on shares of Charles Schwab in a research report on Friday, July 18th. Keefe, Bruyette & Woods boosted their target price on Charles Schwab from $102.00 to $108.00 and gave the stock an “outperform” rating in a research report on Monday, July 21st. Piper Sandler boosted their target price on Charles Schwab from $80.00 to $92.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 15th. Finally, Bank of America boosted their target price on Charles Schwab from $84.00 to $86.00 and gave the stock an “underperform” rating in a research report on Thursday, October 2nd. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, Charles Schwab currently has a consensus rating of “Moderate Buy” and a consensus target price of $100.57.

Insider Buying and Selling

In other Charles Schwab news, General Counsel Peter J. Morgan III sold 50,016 shares of the stock in a transaction dated 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 Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Paul V. Woolway sold 3,205 shares of the stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $93.33, for a total value of $299,122.65. Following the completion of the sale, the insider owned 34,778 shares of the company’s stock, valued at $3,245,830.74. This trade represents a 8.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 267,128 shares of company stock valued at $26,232,077. 6.30% of the stock is owned by company insiders.

Charles Schwab 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.