Balboa Wealth Partners Has $1.02 Million Holdings in The Charles Schwab Corporation $SCHW

Balboa Wealth Partners lifted its holdings in The Charles Schwab Corporation (NYSE:SCHW) by 4.9% during the 2nd quarter, Holdings Channel reports. The fund owned 11,177 shares of the financial services provider’s stock after acquiring an additional 521 shares during the quarter. Balboa Wealth Partners’ holdings in Charles Schwab were worth $1,020,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the company. Forvis Mazars Wealth Advisors LLC acquired a new position in Charles Schwab during the 2nd quarter worth $258,000. Crux Wealth Advisors lifted its holdings in Charles Schwab by 33.1% during the 2nd quarter. Crux Wealth Advisors now owns 31,422 shares of the financial services provider’s stock worth $2,867,000 after buying an additional 7,807 shares in the last quarter. Chicago Partners Investment Group LLC lifted its holdings in Charles Schwab by 9.8% during the 2nd quarter. Chicago Partners Investment Group LLC now owns 26,589 shares of the financial services provider’s stock worth $2,530,000 after buying an additional 2,366 shares in the last quarter. Dumont & Blake Investment Advisors LLC lifted its holdings in Charles Schwab by 1.2% during the 2nd quarter. Dumont & Blake Investment Advisors LLC now owns 11,556 shares of the financial services provider’s stock worth $1,054,000 after buying an additional 140 shares in the last quarter. Finally, Violich Capital Management Inc. acquired a new position in Charles Schwab during the 2nd quarter worth $219,000. Institutional investors and hedge funds own 84.38% of the company’s stock.

Analyst Ratings Changes

Several research analysts have issued reports on SCHW shares. The Goldman Sachs Group reaffirmed a “buy” rating and set a $114.00 price objective on shares of Charles Schwab in a report on Friday. Keefe, Bruyette & Woods upped their price objective on Charles Schwab from $109.00 to $111.00 and gave the stock an “outperform” rating in a report on Friday. Citigroup upped their price objective on Charles Schwab from $105.00 to $110.00 and gave the stock a “buy” rating in a report on Monday, July 21st. Truist Financial upped their target price on shares of Charles Schwab from $112.00 to $113.00 and gave the company a “buy” rating in a research report on Friday. Finally, Zacks Research cut shares of Charles Schwab from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, September 17th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, five have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, Charles Schwab currently has a consensus rating of “Moderate Buy” and an average target price of $104.70.

Charles Schwab Stock Performance

Shares of Charles Schwab stock opened at $94.17 on Monday. The firm has a fifty day moving average of $94.68 and a two-hundred day moving average of $89.76. The stock has a market capitalization of $170.93 billion, a price-to-earnings ratio of 22.05, a PEG ratio of 0.88 and a beta of 0.97. The Charles Schwab Corporation has a 52 week low of $65.88 and a 52 week high of $99.59. 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 issued its quarterly earnings data on Thursday, October 16th. The financial services provider reported $1.31 EPS for the quarter, topping the consensus estimate of $1.25 by $0.06. The business had revenue of $6.14 billion for the quarter, compared to the consensus estimate of $5.93 billion. Charles Schwab had a return on equity of 21.26% and a net margin of 35.93%.The firm’s revenue was up 26.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.71 EPS. As a group, equities 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 disclosed a quarterly dividend, which was paid on Friday, August 22nd. Investors of record on Friday, August 8th were paid a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend was Friday, August 8th. Charles Schwab’s dividend payout ratio (DPR) is presently 25.29%.

Charles Schwab declared that its board has initiated a share buyback program on Thursday, July 24th that permits the company to buyback $20.00 billion in shares. This buyback authorization permits the financial services provider to reacquire up to 11.6% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s management believes its shares are undervalued.

Insider Buying and Selling at Charles Schwab

In related news, Chairman Walter W. Bettinger sold 173,876 shares of the firm’s stock in a transaction on Tuesday, July 29th. The stock was sold at an average price of $98.84, for a total transaction of $17,185,903.84. Following the sale, the chairman owned 590,734 shares of the company’s stock, valued at approximately $58,388,148.56. This trade represents a 22.74% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Paul V. Woolway sold 3,205 shares of the firm’s stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $93.33, for a total value of $299,122.65. Following the sale, the insider directly owned 34,778 shares in the company, valued at $3,245,830.74. The trade was a 8.44% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 267,128 shares of company stock worth $26,232,077 in the last three months. 6.30% of the stock is owned by insiders.

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.