Noesis Capital Mangement Corp Trims Stake in The Charles Schwab Corporation $SCHW

Noesis Capital Mangement Corp lowered its stake in shares of The Charles Schwab Corporation (NYSE:SCHW) by 14.3% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 3,296 shares of the financial services provider’s stock after selling 552 shares during the period. Noesis Capital Mangement Corp’s holdings in Charles Schwab were worth $301,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of SCHW. Brighton Jones LLC increased its position in shares of Charles Schwab by 380.5% during the fourth quarter. Brighton Jones LLC now owns 24,240 shares of the financial services provider’s stock valued at $1,794,000 after buying an additional 19,195 shares during the period. Mather Group LLC. increased its position in shares of Charles Schwab by 4.5% during the first quarter. Mather Group LLC. now owns 6,185 shares of the financial services provider’s stock valued at $484,000 after buying an additional 266 shares during the period. DAVENPORT & Co LLC increased its position in shares of Charles Schwab by 14.6% during the first quarter. DAVENPORT & Co LLC now owns 303,469 shares of the financial services provider’s stock valued at $23,732,000 after buying an additional 38,724 shares during the period. Arbor Trust Wealth Advisors LLC increased its position in shares of Charles Schwab by 14.5% during the first quarter. Arbor Trust Wealth Advisors LLC now owns 11,355 shares of the financial services provider’s stock valued at $889,000 after buying an additional 1,441 shares during the period. Finally, Coastline Trust Co grew its holdings in Charles Schwab by 0.5% in the first quarter. Coastline Trust Co now owns 31,035 shares of the financial services provider’s stock worth $2,429,000 after purchasing an additional 157 shares during the period. Hedge funds and other institutional investors own 84.38% of the company’s stock.

Analyst Upgrades and Downgrades

SCHW has been the topic of a number of recent research reports. Morgan Stanley cut their price objective on shares of Charles Schwab to $130.00 and set an “overweight” rating on the stock in a report on Wednesday, October 1st. JPMorgan Chase & Co. upped their price objective on shares of Charles Schwab from $119.00 to $121.00 and gave the stock an “overweight” rating in a report on Monday, October 20th. JMP Securities restated a “market outperform” rating and issued a $110.00 price objective on shares of Charles Schwab in a report on Friday, October 17th. Barclays upped their price objective on shares of Charles Schwab from $114.00 to $115.00 and gave the stock an “overweight” rating in a report on Friday, October 17th. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on Charles Schwab from $119.00 to $120.00 and gave the stock a “buy” rating in a research report on Friday, October 17th. One 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 given a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $106.00.

Insider Activity

In related news, insider Paul V. Woolway sold 3,205 shares of the stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $93.33, for a total transaction of $299,122.65. Following the transaction, the insider owned 34,778 shares in the company, valued at $3,245,830.74. This represents a 8.44% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Peter J. Morgan III sold 50,016 shares of the stock in a transaction that occurred on Wednesday, August 27th. The shares were sold at an average price of $97.00, for a total transaction of $4,851,552.00. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 69,156 shares of company stock worth $6,686,934 over the last 90 days. 6.30% of the stock is currently owned by insiders.

Charles Schwab Trading Up 0.8%

NYSE:SCHW opened at $94.59 on Thursday. The company’s 50 day moving average price is $94.34 and its 200-day moving average price is $90.99. The Charles Schwab Corporation has a 52 week low of $65.88 and a 52 week high of $99.59. 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 stock has a market cap of $171.70 billion, a price-to-earnings ratio of 22.15, a PEG ratio of 0.84 and a beta of 0.97.

Charles Schwab (NYSE:SCHW) last posted its quarterly earnings results on Thursday, October 16th. The financial services provider reported $1.31 EPS for the quarter, beating analysts’ consensus estimates of $1.25 by $0.06. Charles Schwab had a net margin of 35.93% and a return on equity of 21.26%. The firm had revenue of $6.14 billion for the quarter, compared to analysts’ expectations of $5.93 billion. During the same quarter in the prior year, the company posted $0.71 earnings per share. The business’s revenue for the quarter was up 26.6% on a year-over-year basis. On average, equities 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 company also recently declared a quarterly dividend, which will be paid on Friday, November 28th. Stockholders of record on Friday, November 14th will be issued a dividend of $0.27 per share. The ex-dividend date is Friday, November 14th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.1%. Charles Schwab’s dividend payout ratio is presently 25.29%.

Charles Schwab declared that its Board of Directors has authorized a share buyback plan on Thursday, July 24th that authorizes the company to buyback $20.00 billion in outstanding shares. This buyback authorization authorizes the financial services provider to buy up to 11.6% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its shares are undervalued.

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.