Atlantic Union Bankshares Corp Takes Position in The Charles Schwab Corporation $SCHW

Atlantic Union Bankshares Corp acquired a new stake in The Charles Schwab Corporation (NYSE:SCHW) in the 2nd quarter, HoldingsChannel reports. The fund acquired 121,224 shares of the financial services provider’s stock, valued at approximately $11,061,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Brighton Jones LLC lifted its stake in Charles Schwab by 380.5% in the fourth quarter. Brighton Jones LLC now owns 24,240 shares of the financial services provider’s stock worth $1,794,000 after acquiring an additional 19,195 shares during the last quarter. Concurrent Investment Advisors LLC lifted its stake in Charles Schwab by 12.2% in the first quarter. Concurrent Investment Advisors LLC now owns 15,388 shares of the financial services provider’s stock worth $1,205,000 after acquiring an additional 1,673 shares during the last quarter. TD Private Client Wealth LLC lifted its stake in Charles Schwab by 307.2% in the first quarter. TD Private Client Wealth LLC now owns 19,808 shares of the financial services provider’s stock worth $1,551,000 after acquiring an additional 14,943 shares during the last quarter. Stratos Investment Management LLC lifted its stake in Charles Schwab by 28.8% in the first quarter. Stratos Investment Management LLC now owns 10,927 shares of the financial services provider’s stock worth $855,000 after acquiring an additional 2,444 shares during the last quarter. Finally, Stratos Wealth Advisors LLC lifted its stake in Charles Schwab by 11.0% in the first quarter. Stratos Wealth Advisors LLC now owns 15,553 shares of the financial services provider’s stock worth $1,218,000 after acquiring an additional 1,544 shares during the last quarter. Hedge funds and other institutional investors own 84.38% of the company’s stock.

Insider Activity at Charles Schwab

In related news, insider Paul V. Woolway sold 3,205 shares of the company’s stock in a transaction on Wednesday, October 1st. The shares were 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 in the company, valued at $3,245,830.74. This represents a 8.44% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Peter J. Morgan III sold 50,016 shares of the company’s stock in a transaction 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 sold a total of 65,866 shares of company stock worth $6,370,897 in the last 90 days. 6.30% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Piper Sandler reiterated a “neutral” rating on shares of Charles Schwab in a research note on Tuesday, October 14th. Morgan Stanley lifted their price target on shares of Charles Schwab from $130.00 to $139.00 and gave the stock an “overweight” rating in a research note on Monday. Cowen reiterated a “buy” rating on shares of Charles Schwab in a research note on Friday, October 17th. Keefe, Bruyette & Woods lifted their price target on shares of Charles Schwab from $109.00 to $111.00 and gave the stock an “outperform” rating in a research note on Friday, October 17th. Finally, BMO Capital Markets started coverage on shares of Charles Schwab in a report on Friday, October 3rd. They set an “outperform” rating and a $110.00 price objective on the stock. One research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $106.45.

Charles Schwab Stock Down 0.1%

SCHW stock opened at $93.77 on Thursday. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 0.47. The Charles Schwab Corporation has a twelve month low of $65.88 and a twelve month high of $99.59. The company’s 50 day moving average is $94.10 and its two-hundred day moving average is $91.60. The stock has a market cap of $170.21 billion, a P/E ratio of 21.96, a PEG ratio of 0.85 and a beta of 1.02.

Charles Schwab (NYSE:SCHW) last released its quarterly earnings data on Thursday, October 16th. The financial services provider reported $1.31 earnings per share for the quarter, topping analysts’ consensus estimates of $1.25 by $0.06. The company had revenue of $6.14 billion for the quarter, compared to analysts’ expectations of $5.93 billion. Charles Schwab had a net margin of 35.93% and a return on equity of 21.26%. The firm’s revenue for the quarter was up 26.6% on a year-over-year basis. During the same quarter last year, the company earned $0.71 earnings per share. Research analysts expect that The Charles Schwab Corporation will post 4.22 earnings per share for the current fiscal year.

Charles Schwab announced that its board has approved a stock repurchase plan on Thursday, July 24th that allows the company to repurchase $20.00 billion in shares. This repurchase authorization allows the financial services provider to reacquire up to 11.6% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors believes its shares are undervalued.

Charles Schwab Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 28th. Investors of record on Friday, November 14th will be given a $0.27 dividend. The ex-dividend date is Friday, November 14th. This represents a $1.08 annualized dividend and a yield of 1.2%. Charles Schwab’s dividend payout ratio is 25.29%.

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.