Manchester Financial Inc. Sells 117 Shares of The Charles Schwab Corporation $SCHW

Manchester Financial Inc. cut its stake in The Charles Schwab Corporation (NYSE:SCHW) by 1.3% during the second quarter, HoldingsChannel reports. The firm owned 8,956 shares of the financial services provider’s stock after selling 117 shares during the period. Manchester Financial Inc.’s holdings in Charles Schwab were worth $817,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in SCHW. Pine Haven Investment Counsel Inc grew its holdings in Charles Schwab by 0.3% during the 2nd quarter. Pine Haven Investment Counsel Inc now owns 41,793 shares of the financial services provider’s stock worth $3,813,000 after acquiring an additional 110 shares in the last quarter. Traveka Wealth LLC grew its holdings in Charles Schwab by 4.3% during the 2nd quarter. Traveka Wealth LLC now owns 2,841 shares of the financial services provider’s stock worth $259,000 after acquiring an additional 117 shares in the last quarter. Tlwm grew its holdings in Charles Schwab by 0.7% during the 2nd quarter. Tlwm now owns 17,687 shares of the financial services provider’s stock worth $1,614,000 after acquiring an additional 120 shares in the last quarter. Bank of Stockton grew its holdings in Charles Schwab by 1.2% during the 2nd quarter. Bank of Stockton now owns 10,593 shares of the financial services provider’s stock worth $967,000 after acquiring an additional 123 shares in the last quarter. Finally, Sheaff Brock Investment Advisors LLC grew its holdings in Charles Schwab by 1.6% during the 1st quarter. Sheaff Brock Investment Advisors LLC now owns 7,986 shares of the financial services provider’s stock worth $625,000 after acquiring an additional 129 shares in the last quarter. 84.38% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have issued reports on SCHW. TD Cowen increased their target price on shares of Charles Schwab from $129.00 to $134.00 and gave the stock a “buy” rating in a report on Friday. Deutsche Bank Aktiengesellschaft increased their target price on shares of Charles Schwab from $119.00 to $120.00 and gave the stock a “buy” rating in a report on Friday. BMO Capital Markets assumed coverage on shares of Charles Schwab in a research report on Friday, October 3rd. They set an “outperform” rating and a $110.00 price target for the company. William Blair lowered shares of Charles Schwab from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 3rd. Finally, Bank of America increased their price target on shares of Charles Schwab from $84.00 to $86.00 and gave the company an “underperform” rating in a research report on Thursday, October 2nd. One investment analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $104.70.

Insider Transactions at Charles Schwab

In related news, insider Jonathan S. Beatty sold 6,144 shares of the stock in a transaction that occurred on Thursday, August 28th. The shares were sold at an average price of $96.81, for a total value of $594,800.64. Following the transaction, the insider owned 11,923 shares in the company, valued at approximately $1,154,265.63. This represents a 34.01% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Peter J. Morgan III sold 50,016 shares of the stock in a transaction that occurred on Wednesday, August 27th. The stock was sold at an average price of $97.00, for a total transaction of $4,851,552.00. The disclosure for this sale can be found here. Insiders sold a total of 267,128 shares of company stock worth $26,232,077 over the last ninety days. 6.30% of the stock is currently owned by insiders.

Charles Schwab Stock Performance

Shares of Charles Schwab stock opened at $94.17 on Friday. The firm has a market capitalization of $170.93 billion, a P/E ratio of 22.05, a PEG ratio of 0.89 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 company has a 50 day moving average price of $94.68 and a 200 day moving average price of $89.58. The Charles Schwab Corporation has a 52 week low of $65.88 and a 52 week high of $99.59.

Charles Schwab (NYSE:SCHW) last announced its quarterly earnings data on Thursday, October 16th. The financial services provider reported $1.31 EPS for the quarter, beating the consensus estimate of $1.25 by $0.06. The firm had revenue of $6.14 billion during the quarter, compared to analyst estimates of $5.93 billion. Charles Schwab had a net margin of 35.93% and a return on equity of 21.26%. Charles Schwab’s revenue was up 26.6% on a year-over-year basis. During the same period last year, the firm posted $0.71 EPS. Sell-side analysts expect that The Charles Schwab Corporation will post 4.22 EPS for the current year.

Charles Schwab Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 22nd. Investors of record on Friday, August 8th were given a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend was Friday, August 8th. Charles Schwab’s dividend payout ratio (DPR) is presently 29.03%.

Charles Schwab announced that its Board of Directors has approved a share repurchase program 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 reacquire up to 11.6% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its shares are 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.